Bitcoin Forum

I've noticed some faucets deal out litecoin, dogecoin, peercoin, primecoin, darkcoin and other alt currencies.

If ppl accept these dispenses, what's the best way to convert them into a useful crypto like btc?

Or what's the most efficient way of achieving it?  I know some exchanges have 5% exchange rates and then cashout rates.

Which method is the most efficient and best?

Go to trade site and take deposit adres for altcoin u wish to claim on faucet. When amount came u just trade it for btc. That is how I do that, to not install some wallets. But its hard, when u calculate it maybe its better to stay on btc faucets.

The only method that i now is selling them for bitcoins on exchanges. You can deposit on your exchange address (you will have one address for each alt coin) and wait for a better price before to sell your altcoins for bitcoins. If you don't want to do that its easy go only to btw faucets.

go to poloniex, which only charged you 0.2% for the trading and 0.0001BTC for btc withdrawal. Very quick!

Yeah this is a pretty sure fire way to get the altcoins you get from faucets back into bitcoin... but the issue (or better yet, hassle) is having to sign up for the exchange and having to provide an email and all that sort of stuff.  You can easily use Shapeshift.io to transfer your coins back into bitcoin as easily as it is to convert bitcoin into the altcoin of your choosing.  Just make sure to give the correct address so they can send back the coins if the transaction doesn't fully complete, but that's just being really safe in your transaction... usually it goes through very smoothly.

I would say shapeshift.io is a solid way to do it as they offer countless kinds of alt coins to choose from to turn into btc or the opposite if you choose.
Everybody says they are high fees they charge but you save the time to open an account as it is an automated instant process.

I prefer this ex changer it's automated you will not have to wait hours to get your coins it was recommended to be my friend on facebook I have not use it yet but I like the interface although the transaction fee is a little higher but you will save yourself from anxiety of not getting your coins in due time

Sell them on the exchange that listed them, now you can convert them to bitcoin  ;)

I've been able to trade successfully on Bleutrade, poloniex by having an account and they have a lot of altcoins which you can trade with. If you want to trade with few popular altcoins very very quickly without the need of registering an account or logging in you can check out shapeshift

login to your block chain account and look at the right side of the website. You will find the registered exchangers there..Fees will be there because it's there business and they are trustworthy. Based on your location, you will see a list.

I myself tried few exchangers listed there and every trade went smoothly.

The best way to convert alt coins is to bitcoins is just to use an exchange, either way, you are going to have to pay fees but I would rather safely do it on an exchange that I know and trust rather than to try to save on some exchange fees. Better safe then sorry.

Just change your altcoin to bitcoin in the exchanger , a lot of choice . but if I prefer to use the services poloniex or bittrex create altcoin transaction.

I opened an account with Poloniex where I normally deposit dogecoins. They can be traded and later exchanged with btc. You can easily withdraw btc from Poloniex

Me too. I don't think exchange price or the transaction fees are too different from the traditional exchanges, but even if there is Shapeshift.io saves a lot of time and it makes up for that.

just take easy,you can try so many trusted exchange,for me,poloniex and bittrex have good reputation,but its depending where you stay. you can find your best based your country.

Poloniex is my to go to exchange at the moment. High volume on most coins and a good reputation.

Bittrex has been accused many times of running pump and dump scams with newly released coins to profit from the hype and volume around the pump. Not sure where they are at now.

Poloniex or Bittrex. But dont dump your coins, leave them at a specific price and be patient for people to buy those.

Cause of the lack of their patience, people lose a lot of money this way.

Finally, playing faucets s not really profitable at all, I suggest you invest you time and energy in a more productive manner.

shapeshift, is not complete, in the sense that there are some alt that are not there, i prefer to use traditional exchange, like poloniex or bittrex, and occasionally c-cex that always worked good for me

In my opinion,major other altcoins are as use full and accepted everywhere if you know the right places.Most of the gambling sites have started to accept bitcoins.Amazon/ebay mediators have altcoin options as well.There are a few direct exchange websites ,I know this one here : https://bter.com/trade/doge_btc

Agreed, they are still be a good exchange till now for me. They are big exchange that listed many altcoins.

Best way to go to exchanges and there you can do whatever you like ..
Maybe gamble if you like, or try to trade and profit .
And at the end you withdraw your btcs and done.

On exchanges or, in some cases, here on Bitcointalk.

Yes you can trade and here on BCT , but trade only with those who have positive trust!
Or use escrow services, they charge some fee.
Every other trade is very risky here!

Created an account on these exchange Bittrex, Poloniex and CCEX and then your altcoins over there then you could exchange your altcoins to bitcoin. Cheers

If you are going to exchange relatively new altcoin than yobit.net can be good option as they accept lots of new coin which poops up everyday.

The simple answer is: similar to physical currency exchanges. You’re primarily shopping for one currency with another. The relative price of a nation’s physical currency could be a reflection of the country’s economic and monetary health, particularly since we have a tendency to emotional off of the gold commonplace. The U.S. dollar, for instance, is price over that of the Mexican peso owing to the discrepancies between the 2 countries’ economies—therefore you'll be able to get several pesos for only a few greenbacks (the greenbacks being comparatively a lot of valuable).

Thank you guys.

The best way to convert altcoins to BTC is through instant exchange, like https://shapeshift.io/ (https://shapeshift.io/) -  ;D

So far I like Bittrex before I was using the scam site Cryptsy but when they have big trouble I changed to Bittrex. So far they have a great exchange.

If you are a good person just try to trade on this forum via escrow..
And if you need btc fast go to exchanges and slowly dump but try not to cause panic.
If you are a bad person just create a new coin..

yeah, bittrex is a great altcoin exchanger and has been around for a long time. also it has one of the largest volumes daily on each coin.

but never forget that what happened with cryptcy can happen to each and every excchanger, with no exception. so plan accordingly.

Here is how to get started with Changelly:
1.   Go to Changelly site
2.   Select both Currencies – BTC & ETH (as shown in image below with XRP – change the XRP in the dropdown to ETH).
3.   Click Exchange and you will get the details of the transaction on the next page.
4.   After that you will need to create an account using email address. This is a good thing because it will allow you to login to your Changelly account in future and check your exchange history on Changelly.
5.   Click on next. Enter your Ethereum wallet address where you want to receive the converted Ether. If you do not have one, you can check the list of most popular and trusted Ethereum wallet here.
6.   Click on next. You will see the details of the conversion you are making on this page. Before clicking on ‘Confirm & Make Payment‘, recheck all the details carefully.
7.   Now you will see the QR code and the Bitcoin Wallet address in which you need to send the BTC to convert it into ETH. You can close the tab after sending the payment, because you will get email notification when everything is done.
8.   Once you send BTC, you will receive ETH in your wallet address. That’s why it’s very important to enter the correct wallet address. Otherwise, you might risk your moneY.

You can easily convert altcoin to bitcoin just follow some step.First, you create an account any trusted exchanger and deposit your token or coin and create a sell order altcoin to btc pair.I think its the  best way to sell immediately to your altcoin to get btc

There are some few faucets or mining sites that  everyone participated. Some are direct BTC and Altcoins that they give, it will soon be. Losed and some mistakes are people invested and trusted them but for some reasons, they will think that people could have enough prices that people will desired e everything they need is to secure the BTC wallets or just scanned the QR code.