Bitcoin Forum

Hi all,
Was wondering just wondering as Ive not actually thought about this before is how do you cash out. If I want to turn my alt coins into cash to spend on the latest cars what's the quickest, cheapest method?
Im in for the long haul though!!

Be lucky
Lex

Exchange it dirrectly to fiat is possible, if not exchange it to btc first. Some market support local bank, use that market. You can search it at google based on your location, or simply register to localbitcoins

For most coins you will have to convert them to BTC and then in turn make that BTC into fiat money. You probably need to use several exchanges for this process the best altcoin exchanges for trading your coins are Binance, Bittrex, and Poloniex. After you get it into BTC you can visit websites like Bitfinex, Gemini, BitStamp and more to turn your BTC into fiat. From there I believe you cash out to your bank account (although I have never done so myself yet) and voila you can buy your latest car! :P

yes, I used to do that, I used to use bittrex, delta and hitbtc. then i convert to BTC. after that I immediately make a transaction and exchange it to fiat.

I have never taken a coin to the Fiat. And I never regretted it, because the Crypto currency is growing and growing in price.

How did people cash out pre coinbase, bittrex, bitstamp days?

Also does anyones bank ever say anything if it's multiple transactions over 10k?

Bittrex or bitstamp? Of course not , i move all my money to localbitcoins and then i withdraw my money on cash with another guy.

This makes me do not have to spend 100$ worth of fees and i do it all quickly and i avoid the banks.

The fastest method for me in cashing out altcoins is by using shapeshift so I could convert it to bitcoin and they'll send it to my address that has a pending cash out order once the transaction confirms i'll receive my fiat in my bank account or i'll pick it up from a remittance center. The cheapness depends on which exchange you'll use because of the maker/taker fee.

you cannot use bittrex.
use bitstamp or coinbase to liquidate bitcoin to fiat and then transfer to a bank account.
you could also try https://bisq.network its a P2P transfer network.

Coinbase seems to be pretty secure and I have used them in the past to buy Bitcoins from my bank account and to cash out to my bank account. The drawback is that you have to provide identification and link your bank accounts with them to make this work. If you’re willing to do this, it should be secure at least with my experience.

Other options are using localbitcoins or just making a cash transaction with a friend if you can find one that wants to buy some Bitcoins. That way you can avoid fees and taxes.

Depends what altoins you're holding and what fiat currency you use? litecoin and vertcoin can be exchanged to euros pretty easily i know and surely there are many others like monero maybe.

I used bitcoin exchanges like Kraken, BitPanda, or CoinBase to cash out my bitcoins.

Yes, we have all different strategy on how to cash out depending on the urgency of needs and as for me i always used banks if i am not in hurry because it will directly deposit on my debit account and if time that i need to get the cash urgently then i will prefer to use cash remittance.

I prefer localbitcoins for the purpose of cashing out what I have in the wallet. This provides the ease with the opportunity to make a trade upon our convenience with any particular trader that have got listed. Also it is the one which is listed among the five licensed trading platform.

you need to link your bank account, and then you cash out!
Banks are obliged to report transactions about 10K to the authorities (IRS, ...)!
If you have hold the coins for more than a year, it will be taxed as a capital gain, otherwise as income tax!

Try making cashout from trusted exchanges, I think SEPA transfers are avaialble in afew.

I used exchanges like BTC and Coinspot to cash out. It is depend on the country you located & just do google search and find suitable exchanges to cash out purposes. The reason is some exchanges are not supporting to some countries. It is depend on the where you locate and the bank you involve. Hope this works for you

Thanks for that, I don't intend to cash out anytime soon but in the long run it's nice to know you can get cash when needed. I'm UK and have signed up with coinbase, Kraken and a few others.
I'm sure as time goes on it will become even easier.

I'm pretty sure that there are many local exchanges that are existing and most of us are cashing out through that way and in what country do you live? You can also try convert those alt coins first into bitcoin and find your best deal at LBC.

Many exchanger can cash out to local fiat money directly.
I actually cash out in my local exchanger in  local currency. So it easier than.

In my country which is the philippines I have a btc wallet called coins.ph and i this wallet I can be able to cashout my btc into cash an witdraw it through atm machine and this is only atm machine that allows to cashout and that atm machine is from Security Bank.

The best way to cash your bitcoin is through the exchange where you bought our bitcoins e.g Coinbase or Gemini.

It depends on the currency that you're using. In my case it's EUR. I hardly ever cash out, but when I do it's at coinbase straight into my bank account and then via an ATM if I'm in need of cash. I have cashed out everything that i've invested already and all that's left is going to stay in cryptocurrencies until it's worth millions or nothing. It's go big or go bust!

Exchange altcoin to fiat currency if it is available on the platform you are in, and if not, exchange it to BTC before exchanging it to fiat currency. There are some wallet that have feature of having cryptocurrencies direct exchange to fiat.

how cheap do you want? because as far as I know, we need to pay some amount and it depends on the country where we live. I think the best we can do is by using our friend service or localbitcoin because the fee is not too big if we compare on the website. but I don't think that altcoin could turn into cash for another country because it is only applicable to some country.

I exchange it into btc and turn into fiat in cash out my altcoins.I send it ro any remittances to pick up my cash,it is the way by cash out our money in our country.Fast transactions and no hassel in my wallet.

im also from the ph and i also use coins.ph as my primary wallet to cashout or exchange my bitcoins to local fiat and then withdraw it via a remittance center. i dont use atm bank as withdrawal option because mainy coins.ph user said that atm withdraw is verry risky and most of the times they lost their money after they request a withdrawal in an atm bank which is security bank specifically. they also contact the support of coins.ph but they dont get any direct reply form their team.

Using coins.ph is a very good and convenience digital wallet in the Philippines. Inside of the wallet their is a lot of options to cash out your money (either bank or exchange). I have a great experience with them from start in invested in cryptocurrency till now. Thanks

Back in the past on where their egive cashout is the most convenient way on cashing out your fiat that came from converted bitcoin that you do made which errors are just on rare cases but now everynow and then they did really experience errors on those kind of cashout.This is why I do stick on transferring on bank accounts directly.

Back to topic cashing out your coins would vary on which country you do live on and find the suites  your taste and speaking on fees I don't even know since they do really have different fees on each one of them.

I always cash out buy selling my bitcoin or ethereum to my local exchanger and did it for almost 4 years. After selling those crypto then i withdraw to my bank account. I have nothig to affraid of since i am not doing aomethings wrong. Now i request monaco card will try to cash out from there.

i dont really like to cash out because im planning to save up as much as bitcoin as i can however i only do cash out if there was an important situation like for example im out of food to eat and i dont have enough cash to buy the grocerries straight from my own pocket , then that was the time i immediately withdraw and cash out my bitcoins to a local exchanger which is rebit.ph although ive been also using a coins.ph wallet but i still like the service of rebit.ph because they have a reasonal fees and a much accomodating staff and friendly support if ever theres a problem or issues in my transactions.

I think every country has a local exchanger, the international currency is USD, and BTC / USD is already in the big exchanger, even if your altcoin ETH, then you can directly transfer it to the exchanger to exchange for local currency ...

in Indonesia there is vip.bitcoin.co.id

https://i.imgur.com/AuXrldx.png

I'll be using this when it gets released in Q2-3 of this year.  15 different coins along with 5 debit/credit cards on one.  I'm already using a bitcoin debit card now, but this card is leaps and bounds ahead of it.

I never tried that egive as I prefer more to use my savings account and I'm sorry for what you believe in but cashing out thru banks is safe. Maybe there are times that other users encounter some malfunction in the system but I highly testify that it's still safe.

How do you cash out ...
I know what I'm doing
cash out of altcoin you can convert money and more money changer in the Philippines
like cebuanna palawan express and many others
so you will not be able to cash out the amount of outlet you can access
It's a place in the country or region of what kind of ship you have
You just know that just do not forget to convert money
easier and no hastle
Do not be sad because all branches are trustworthy and 100% proven by the government
Just as cash out the talks do not forget the most closely replaced money

It looks great, of course this is something that could give us convenience if we want to spend online and buying things through our card.
With all in one card, I think this will become popular and I am very excited to have this card once it will be available for release.

the easiest way is through the exchange sites immediately to the card of any bank, there are sites that create ratings of such exchange sites with reviews and reputation, so you can not be afraid that your money will be stolen, the rates and commission size are updated in real time, this is a very convenient and fast way , but the most expensive, for that you for 15 minutes receive money for a card

you can cash in to Crypto currency in several ways, you can use the exchange, you can use exchange sites, or in person, I use exchange sites, there is a large commission, but the fastest transfer of funds directly to a bank card

the fastest way is an exchange site, this method has the biggest commission, the exchange on the exchange can take a long time, but the commission there is less,

First you need t know what coins that you have?  and where you from because if you are holding ethereum coins you can easy to cash out your ethereum its because  ethereum is already listed in the coins.ph exchange  here in the Philippines that is why if you are a Pilipino you can easy to cash out your money.

First of all, you will have to find an exchange that supports your national currency and then you will have to exchange your coins for it . You can directly exchange BTC for fiat and get the cash in your bank account. If you are not able to find any exchange that supports your national currency then you can visit localbitcoins.com and exchange BTC to fiat. You will have to trade your BTC to a trader on localbitcoins and then the trader will deposit the money into your bank.

For someone that really wants to get the cheapest method of cashing out your altcoins or even with bitcoin. It must be direct sell or buy through any person that holds that coin. That's how peer to peer transaction will happen. You don't have to get through with any exchanges so that you can avoid fees and this is quick. Another thing is if you want to spend car then ask the seller if they are accepting cryptocurrencies, here in my country you can buy directly with bitcoin and there's some discount using it.

Most of the exchanger change your Altcoin in dollar or bitcoin, for sure your local wallet has a bitcoin option, transferring from any wallet to another bitcoin wallet is easy.

You just need to copy your bitcoin address from your local wallet and paste it on the bitcoin wallet from the exchanger, the click send after double checking, from your local digital wallet you can chose which outlet can you withdraw your money.

We have a bitcoin wallet app including eth as well that we can easily convert our bitcoin/ethereum into cash without fees so if we want to cash out we should finally trade our alts into bitcoin or eth to be able to convert into fiat and cashing it out through a bank or some 3rd party companies.

First I'd exchange my altcoins to btc in an exchange where it can be traded. Then I will send it to my btc wallet in my case I use coins.ph since Im in the Philippines. From coins.ph, I will then send it to a remittance center or my bank account so I can finally turn my coins into cash :)

Most of wallet has exchanger to Bitcoin so here is the most simple step I could share with you,

1. From your wallet exchange your coin or token to BTC, ETH or LTC
2. Send it to coinbase
3. Sell
4. Transfer the money to your USD wallet.
5. Transfer to your bank account.

Let me know if you have challenges.

In my country, everything looks much easier. A transfer bitcoin wallet to the exchange and he translates to you the equivalent amount in bitcoin on your credit card you need a Bank. All operations take no more than 30 minutes. Very convenient.

Today, for me, one of the most profitable, and one of the safest variations in the output of Fiat - is the Exmo Exchange.

First convert all of your token to BTC as this is the universal token, second find in your country where you can convert these bitcoins, as this is case to case basis, but most of the countries support exchanging bitcoins, thats why it is best and safe to convert them BTC if you want to convert them to fiat