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Title: 1st timer - Help cashing out from bitcoin wallet. Post by: embodytantra on July 09, 2017, 01:01:09 AM Hey, so I am using "Bitcoin Wallet" app and nowhere on it does it say how to exchange it for USD (either by bank wire, or some other method). Can anyone help me? Yes, I do have bitcoin in there.
Thank you Title: Re: 1st timer - Help cashing out from bitcoin wallet. Post by: TryNinja on July 09, 2017, 01:09:24 AM Which app is that exactly? You coulse use a third party exchange to sell your Bitcoins for cash.
e.g: Coinbase (https://www.coinbase.com/), LocalBitcoins (https://localbitcoins.com/)or Kraken (https://www.kraken.com/). Title: Re: 1st timer - Help cashing out from bitcoin wallet. Post by: embodytantra on July 09, 2017, 02:43:07 AM Which app is that exactly? You coulse use a third party exchange to sell your Bitcoins for cash. e.g: Coinbase (https://www.coinbase.com/), LocalBitcoins (https://localbitcoins.com/)or Kraken (https://www.kraken.com/). like I said, it's Bitcoin Wallet. Title: Re: 1st timer - Help cashing out from bitcoin wallet. Post by: embodytantra on July 09, 2017, 02:50:26 AM Which app is that exactly? You coulse use a third party exchange to sell your Bitcoins for cash. e.g: Coinbase (https://www.coinbase.com/), LocalBitcoins (https://localbitcoins.com/)or Kraken (https://www.kraken.com/). I thought the app I'm using WAS a 3rd party? But I am not sure. Title: Re: 1st timer - Help cashing out from bitcoin wallet. Post by: ranochigo on July 09, 2017, 02:53:16 AM Which app is that exactly? You coulse use a third party exchange to sell your Bitcoins for cash. e.g: Coinbase (https://www.coinbase.com/), LocalBitcoins (https://localbitcoins.com/)or Kraken (https://www.kraken.com/). I thought the app I'm using WAS a 3rd party? But I am not sure. Title: Re: 1st timer - Help cashing out from bitcoin wallet. Post by: lecongnhan123 on July 09, 2017, 01:32:07 PM Hey, so I am using "Bitcoin Wallet" app and nowhere on it does it say how to exchange it for USD (either by bank wire, or some other method). Can anyone help me? Yes, I do have bitcoin in there. If you are wanting to exchange Bitcoin into real cash, you can also use a third party to exchange or maybe you can find exchangers in your country to sell your Bitcoin for your local currency.Thank you Title: Re: 1st timer - Help cashing out from bitcoin wallet. Post by: User365 on July 09, 2017, 03:30:32 PM Hey, so I am using "Bitcoin Wallet" app and nowhere on it does it say how to exchange it for USD (either by bank wire, or some other method). Can anyone help me? Yes, I do have bitcoin in there. Thank you Bitcoin wallet is just an app to store your Coins. If you want to spend them you can use your wallet (send BTC or receive) If you want to exchange to f.e. USD or EUR this cannot be done via this app, you will need to use a exchnage service like Kraken, Bitstamp or if you donīt want to make an account which needs to be verified or prefer face to face trade for Cash you can use Localbitcoins. Title: Re: 1st timer - Help cashing out from bitcoin wallet. Post by: Atomicat on July 09, 2017, 04:22:04 PM What you have is an app that can be thought of like your wallet and within your wallet you have a currency called bitcoin.
The only difference here is that your wallet is physical and your bitcoin wallet is digital. Other than that its the same concept. Bitcoin can be exchanged to any currency the same way its possible with physical cash. To change Bitcoins to fiat you need to use an exchange. Refer to this link to find a suitable exchange for you: https://bitcoin.org/en/exchanges Title: Re: 1st timer - Help cashing out from bitcoin wallet. Post by: Kakmakr on July 11, 2017, 06:27:00 AM Take a tip from a fool. Sign up with an exchange and go through all their KYC/AML bullshit and then transfer ONLY a small amount of coins from your wallet to this exchange to sell it for fiat/cash. I have had some bad experiences with some exchanges, where I signed up and I transferred a bunch of coins, only to have my account frozen, until I had to jump through a shitload of loops to explain these coins to them for my accounts to be unlocked. < They have to prevent money laundering, so they will scrutinize your account and look for reasons to seize your coins >
Test the exchange with small amounts, before you jump into the deep end and drown. ^smile^ |