Bitcoin Forum

I've been mining bitcoins for a while now, and I think it's time to pick some fruits of my labour.
But the site where I'm mining, doesn't do SEPA transfers to Dutch banks.
So what's the most convenient way to convert my bits in to cash? Of course with little as possible overhead.

You can look into Bitstamp and c-cex or any such exchange. Both have a low fees and are much safe than any other exchange. Bitstamp does bank tranfers really fast too and would be a good option.

It depends how much are you trying to cash out. I see that you are looking for SEPA. My suggestion is that you go with Kraken. They will take 0.09 euro cents for a SEPA transfer and you can get a tier 2 account with simple verification (no sending documents, etc, just by providing name and address). This tier 2 will let you sell up to 2,000 euros monthly. Of course if they haven't changed something.

But they are definitely worth checking out. Bitstamp for example will ask you for thorough verification just to send bitcoins to their exchange.

I have used Kraken several times. The more you trade, the lower the fees. They do not require verifications for lower volumes which is a huge plus as most exchanges requires it and it takes days to verify. Otherwise, if you're looking at higher volumes, go for bitstamp.

Luckily I have my own local exchanger. So I just need to notify him how much will I sold to him via BBM or WA
Ofcourse I must send to him first and then he sent cash into my bank's account

Bit X debit card is the post option IMHO. You have all fees stated on their website.

Debit cards are fee heavy and you have to store your coins with the card provider. Good for a bit minor spending but I wouldn't leave respectable amounts with them.

Thanks for all the advice, I went for Kraken, but it's only a wee amount, below € 100, and I got the message that I don't have sufficient funds for withdrawal... :o

What do you mean? Who gave you that message? Kraken? This makes no sense, I made SEPA withdrawals of 500 euros and lowest one I made was 15 euros so you should be able to withdraw your 100 euros. Have you done any sort of verification?

Try to explain more thoroughly so we can help you.

Silly me, had to convert the bits prior to withdrawal, so all's good now. ;D

use Kraken, they have a dutch bank to, so the sepa should be in the range of 8 hours, very fast

i'm also using a dutch card and with them my sepa are incredible fast

Yes, well it makes sense, that if you want to withdraw euros, you need to have euros in your account! :D

Glad it worked!

Yeah right, I was under the impression that the conversion went automatic, but that didn't seem to be the case.
All's good though, had the funds yesterday in the bank.
BTW, while mining, I get all kind of 'residual' stuff like NMC, DVC, etc. which seems to be worth next to nothing, any idea what to do with it? ???

Those are alt coins that you gain when you merge mined. If it is a significant amount, you can transfer it to an alt coin exchange like poloneix (https://poloniex.com/) and trade it for Bitcoin and get a extra bonus. Just leave it if its too small or continue mining till it grows to a significant amount.

since you want to cash out to a dutch bank, i can assume that you are from the netherlands. why don't you use bitonic.nl to cash out. on working days you will have the money the same day in your bank account if you sell them in the morning.

Lass es einfach, wenn die zu klein oder Bergbau weiter, bis es eine beträchtliche Größe erreicht.     :D ??? :-X

If you're Dutch, you can convert Bitcoin to fiat easily through bitonic.nl or anycoin.eu

Bitonic even has a priority payment option, they use the same bank as your bank so the transfer is completed the same day.

Edit: Oh, I looked over this reply mentioning the same basically, but indeed for Dutch and Belgian people, Bitonic is the best option.

i have been using bitonic for over a year to buy and sell my bitcoins. they have never been late with cashouts. i think op isn't interested anymore as he is not responding to any post here.

Well, multi quoting can get a bit of confusing after a while, hence the reply of Randy. ;D

As I posted a few posts ago, I went for Kraken, and they paid me out within a day, so I'm ok with that, not sure if I got the best rate, so I will surely keep other suggested options in mind, and am thanking everyone for the support. ;)

+1 for Kraken very low fees on SEPA withdrawalls.

Tried to report this twat, but summat went wrong, maybe not enough posts under my belt, so if one of the mods are around, best to boot this Kamagra powered spammer. :P