Bitcoin Forum

Is there is anyone from Denmark here? I know some people there who I want to send some money as gift. They're not familiar with BTC and I don't have anything else but BTC.

My question is what is mostly used in Denmark and I could use to sell my bitcoins to? I heard that there is some kind of phone app to transfer money to bank account etc. So, what you guys would suggest me to do? (PayPal is probably out of question as well).

I think you can try Skrill and or Wirex

Why not just do a SEPA transfer directly to their bank account?
There are a number of merchants on Localbitcoins who can do SEPA transfers to any country in the Single Euro Payments Area (sepa).

https://localbitcoins.com/country/DK

Just get their* full name, IBAN & BIC and you should be good to go.

* The recipients

How easy is it to use or prove a SEPA payment exactly? It will be as a gift and not for services so I don't really want to tell them that I sent them each time and they check their account.

Oh it's extremely easy, I do them weekly and it's really straightforward.
Now in your case, since you can't do the SEPA transfer yourself, you'd have to ask the third party to provide you with a proof of payment. Though I personally never ask this, since I use trusted sellers/services. Might be considered weird to ask, I'm not sure.

No need to declare it as a gift or anything like that, as far as I'm aware of at least.

A SEPA transfer is basically the same as a regular bank transfer, only that there are no fees and they're also faster.

This is a screenshot of the exchange I use. They pay out immediately via a sepa transfer.
Just adding it so you can see all the information that's needed.

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

I've searched and I might go with SEPA so thank you with the suggestion. I've never heard of the site before though, can you vouch for them? I also want to know the time they would take to process the transaction (from the money to go to the bank account and be ready to use). Also, what do you need to provide to verify your account? passport, a selfie? and how long would it take?

A SEPA transfer can take up to 48 hours, depending on the banks. But in 2018, the majority takes 24h and even 12h

No need to submit documents and such. They only require bank account, email address and mobile number. Verification usually takes max a couple of hours and transfers are very quick, at least in the Netherlands. You gotta check out their website for international transactions. I'm doing business with bitonic for over 2 years now and I've never had a problem, very reliable service.

You can contact them on Telegram: https://t.me/BitonicNL, email: contact@bitonic.nl or Twitter: https://twitter.com/bitonicnl ;)

Same here, they do have some sort of verification in place for buying Bitcoin, but not for withdraws afaik.
The verification just consists of buying Bitcoin with your bank account and waiting to get verified, no need to send any documents.

I don't really remember if there's also SMS verification involved, I think so actually. So that might pose a bit of a problem if you're from the US.
Maybe you can comment on that s0lidus?

Yes, there is a one-time SMS verification involved, which is one of the steps to verify the bank account that will be used to receive cash or to buy BTC.


The person who owns the bank account has to verify it personally. After that OP can sell BTC and fill in his friend's information, so they receive the money on their bank account. No more verifications and all after first time.

But be aware of this part of their terms:

https://i.imgur.com/k4BVaXB.png

This, however, isn't a big deal since it's almost impossible to check. But just good to know.

Actually, since you're selling Bitcoins, you really only need to use localbitcoins, and choose SEPA as the method, then you don't need anybody to be located in Denmark.

I also personally use BitPanda - they have 0 KYC requirement for the most basic level, which lets you use SEPA as a withdrawal (for 0 fees too, which is great). As far as I recall, this doesn't require you to prove you are the owner of the account, but then you'd have to sign up as the account owner. I suspect, like Bittonic and even LBC though, 3rd party txs aren't allowed. In fact I never trade with 3rd party accounts on LBC.

Why not just sell the BTC for cash into your own account and then transfer to their bank account? Or a gift card? Probably lose a bit more as fees but you'll sleep better at night having done things by the book =)

What are the monthly/weekly limits for BitPanda for a verified account with a phone number only? I'm also not from a European country so I can't really do what you suggested.

For now, it seems like Bitonic is a good option, I appreciate the help everyone!

1,500 daily limits, 10,000 monthly limits, 15,000 lifetime limits for non-verified account. I'm actually not from a European country either (which is why I can't get verified at BitPanda... I am a long time user but they changed policies round the time of GDPR so once I hit my new 15k limit, I will have to stop using them).

Also, if you're selling Bitcoin then you only need to put your friends' SEPA account as the withdrawal method - or if you use the method I suggest, you can still sell BTC for your local currency, and then do a wire transfer to SEPA account. It's a few days longer but legit, and they'll know it's from you vs selling P2P where they'll see the cash come in from some account unknown to them.

Good luck!

I'm using Bitonic since 2016.

In The Netherlands they transfer the funds to your bank account within 2 hours if needed. Otherwise every day around 13:00.

Never had problems with those guys and they are always very responsive on Telegram.