Bitcoin Forum

Im a newbie here and I still dont know how to encash BTC can you teach me? Please share your knowledge.

I think this thread is almost the same as this one https://bitcointalk.org/index.php?topic=2364602.0

You can check out the replies there :)

you as a newbie, I suggest you better read and learn a lot. because to get bitcoin is not easy. need sacrifice time, energy, and also sincerity. in this forum you can take advantage to earn income. follow and join the bounties. complete the project with full responsibility

Its easy just pick up an exchange which allows you to transact bitcoin in your local currency complete KYC and attach the bank account with your bitcoin wallet. Tadaa just transfer it to exchange sell them off for fiat and get fiat to bank.

You can encash bitcoin if you are in the Phillipines in Coins.ph. You can use banks which are connected to Coins.ph and some remittances entities, 711 stores, or maybe using mastercard or Visa debit cards. Maybe if you live outside the Phillipines, there may be  local exchangers that can help you from transferring your bitcoin into a currency in your country. I hope this help to those Newbies just like me.

Chose exchange that suit you best:

http://www.coinparator.com/compare-exchanges/

(lowest fees, being able to verify your account, payment methods etc.).

Transfer your BTC to the exchange wallet.
Exchange it to $.
Transfer it to your bank account.

Check Bitcoin exchanges (https://coincodex.com/crypto/bitcoin/exchanges/) and see which one support the currency you want to cash out in and what's the rate. For USD/EUR I suggest Bitstamp.

There are sites or wallets that do encashment to local currency. I believe that coinbase has this kind of feature which it will be deposited directly thru your given bank account. You can also sell your Bitcoins in exchange to real cash with localbitcoins and paxful. However, transactions on mentioned sites were a bit more complicated and its not instant. I do believe that it will take at least 24 to 48 hours for the transaction to be completed. If you want an instant and less risk encashment, you can search for people in your area that are looking to buy BTC and willing to do meetups.

You just have to sell your Bitcoins to someone who is willing to pay you fiat currencies like the dollar, euro, pound in the deal. Typically, you can use exchanges like Localbitcoins to find the reputed traders who are willing to trade Bitcoins and you just have to deposit your funds on your Localbitcoins wallet and open a trade request with the person with whom you are willing to trade. There are some other exchanges too but I do use Localbitcoins when I buy or sell my Bitcoins.

Through exchangers. But there are wallets where a user can store his/her bitcoin. In that wallet, you can simply convert your Bitcoin into fiat and look for methods on how will you be able to cash the money out which is in that wallet. In my case, I am using an app named coins from playstore.

Bitcoin you with real cash agreements with localbitcoins and paxful. However, deals on the site are a little bit simpler and not instant. I believe it will happen 24 to 48 hours for the transaction to complete

You can do so by selling your Bitcoin through exchanges, peer to peer through localbitcoin or get a bitcoin debit card to spend or withdraw cash from the Atm.

You can sell the btc on trusted platforms like localbitcoin or coinbase or paxful and receive cash to your bank account. There's also an option of selling to individual traders. In some countries, you are also allowed to apply and obtain a bitcoin debit or credit card which you can use to shop or withdraw cash from an atm.

I don't think encashing bitcoin should be your major concern now, I think learning all about bitcoin and what it entails should be. If you have searched the Internet well,there are a lot of major information's on it including on how to encash it.

But never the less, you can encash your bitcoin and some altcoins   in excahge sites; like Bittrex, Coinmama, Gemini, or even localbitcoin. There are a lot of them out there. Though, they may need you to verify yourself through id's and photography and so.
If bitcoin is legal in your country, you can also see people to sell them to.

I prefer to sell in localbitcoin because we can find out the sellers that lived in the same city like us so we don't have to worried about being a scam. besides that, if we want to sell fast, we can contact that sellers to buy our bitcoin. I think if we want to sell our bitcoin at the site, there is a fee that we should pay and I think it is better to give that fee to the sellers from localbitcoin so we can help them too.

There are plenty of ways to exchange your BTC to cash. The most used method is selling on an exchange which pays out in fiat. I can't recommend you any because I don't know from which country you are. The other way is sell your BTC face-to-face. I would recommend website called localbitcoins for that. It's fairly good because nobody can scam you and you have opportunity to meet new people! It is always good to have someone acknowledged with cryptocurrencies.

I'm also a newbie. This thread was helpful to me as well. Thanks everyone for answers! :)

I'm cashing out bitcoin through online exchanges and stock exchanges. It seems to me that this supports bitcoin Fiat. It's good for the state but bad for users. We are still vulnerable. Now we need all the forces to throw to each user bitcoin did not need to change bitcoin to Fiat. We need to be able to use bitcoin directly.

Before you start earning, you should learn first on where you gonna buy btc in a legit investing company, bank institution and remittances. You're too late because the bitcoin price are in the high peak and eventually some holders has a big chance to be millionaire someday.

There's a multiple way to encash your Bitcoin. You can exchange your Bitcoin & Altcoins into legitimate exchangers. Example,
Bittrex, Poloniex, etc. After exchanging, you can withdraw your balance to your receiving wallet address. However, if you do came from Philippines. You might wanna try CoinsPH. Sounds very useful at all, but the fee will hit you.

For newbie in this business you can read many articles about how to encash btc. There are so many ways on how you can encash your btc.
Here are some ways you can encash your btc, but remember that if you encash your btc their is a transfer fee.
1. Coins.ph - The fastest and safest way you can encash your btc.
2. Localbitcoins.com - Where you can buy and sell your btc. Means person-to-person bitcoin trading.
But I'm using coins.ph

There's a lot of ways to encash our btc, but we can't encash it exactly as bitcoin, it will automatically converted into fiat depent on what currency is in your place. I can encash my btc from the bank. That is the easiest way for me to encash it.

I guess, as a newbie, you should not focus on how you encash bitcoin. The first thing you have to deal is how you will gain it. Nowadays, tthee things are almost posted on the interenet, even in this forum. Find ways first to earn. And read other threads related to some of your questions.
As you go directly to your question, well it doesn't really came out as a bitcoin but a fiat. You can have some wallets for your btc. I also suggest asking what wallet you should use and how to use it in your local thread so that such things could be explained further.

You can convert it to FIAT, there are many people who provide bitcoin recipient services.
if it's an official site you just need to transfer it then you give your account to the buyer.
But you have to be careful if you want to trade with individuals, because if you make a little mistake you will not get anything.
You should use escrow services or commonly referred to as a third party, so your transaction becomes secure.

You can sell your bitcoins to your Besides People. And also try for exchange, many sites give Bitcoin to another Dollar to withdraw your money. It's so cool way.

i was going to use a debit card to encash BTC something like TENX but i'm i correct that they are not allowed anymore by visa? thought i read something about that.

you need to create first a wallet like then there are several ways on how to encash your bitcoin

there was a lot way to cash bitcoin out there. just make a research own mr google you will see a lot of article about this stuff. for me im just using localbitcoin to cash my money out as it easy and can be trust. other i dont know so much as im very picky about it.

I always cash out bitcoin on the exchange. But lately I see that many exchanges have problems with the withdrawal of Fiat on the Bank card. It seems to me that gradually the bankers starting a war against bitcoin. Probably soon we can expect a full ban is a possibility of exchange for Fiat. Remains illegal the exchange but the price will be lower.