Bitcoin Forum

Hey guys. Was looking for a convienent way to pay someone I owe money in bitcoin who has no technical or familiarity with crypto. Someone who is new and not 100% confident who needs a way to sell it into fiat at any time. My first thought was coinbase, as they can deposit into bank accounts directly. Then I thought the Cash app would be easier. But both have id verification and all this paperwork to go through. Is there anything supwr simple? Like maybe a wallet integrated into paypal or venmo? Any advice appreciated.

you are looking for something that allows you to convert bitcoin to fiat and transfer it to bank and because of that last part it is impossible to find some service that is both trusted and doesn't require identity verification. that simply doesn't exist.
the only option i can think of is Coinbase. although i would suggest paying them directly with fiat since they have no idea what bitcoin is and want fiat right away!

As has been said above, you need a trusted service and all trusted services follow the same procedures.
A KYC process is not something that would put off a newbie, it is required in almost all financial registrations, so encountering it in cryptocurrency exchanges should not be a problem.
You can all try LUNO, it allows you transfer little amounts without completing KYC.

Besides coinbase if there's a local exchange on your country that supports bitcoin and other services like here in asia in my place (coins.ph) where people can use in sending and receiving bitcoin/money without precise knowledge in bitcoin though they still don't implement in paypal exchange but coinbase does AFAIK.
Also, there's no services that exchange bitcoin/crypto to fiat without requiring KYC, it's common once its related to fiat.

Payza used to allow people to deposit bitcoin and convert it into fiat but now Payza has turned into scam or probably closed their service. You can try perfectmoney. It doesn't require a lot of stuffs in order to convert it into fiat provided that the amount isn't a bigger one.

The simplest way is to use an exchange, such as a ZB exchange. Choosing C2C transaction and publishing the sale information will receive the buyer's payment directly. Simple, the key is security. There is endorsement on the exchange. There won't be so much trouble. ZB's website is zb. cn, which I've been using all along.

If I understand what you are missing, you need to use Localbitcoin.com or Paxful, the platform is easy and people are trusted "check them profiles" to buy and sell BTC safely.
About converting to PayPal try virwox "High fees but trusted exchange.".

In the first place why he is interested to get paid in Bitcoin, if he wants Bitcoin then it's better to educate him first about how good is this technology, that could do him a great favor if you educate him it will not even take a day, do this before you send him his bitcoin.

Second this. We are both using our local exchange and they provide various services in order to convert bitcoins to fiat easily. You might want to check your country if they implemented any exchange platform. Be wary of fees that might accumulate whenever you transfer your bitcoins from an exchange to a local wallet.


This is indeed the most convenient way of paying him or you can also use paypal. If your purpose is primarily for payment, then sending him cash via electronic stores might be the best idea.

I can advise you to go with localbitcoins where you can create coupon code worth the amount you owe to that person (newbie) and share that coupon code with him and when he will enter this coupon code in his localbitcoins account, he will have both the options to hold Bitcoins without converting or cashing out into the fiat currency as per his convenient method of cashing out. Honestly, I haven't used this feature but it's really cool I guess.

There has some wallet that you can easily use and send BTC one o another people without fee or kyc.So i suggest to you use coinbase or blockchain and its very simple to use and one coinbase to another coinbase totally free .Now You can  Buy crypto from more than 100 alternative payment methods and 40 currencies into Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, Litecoin, XRP and 0x instantly – no additional verification required so use skiril or neteller.

You obviously have not used Localbitcoin.com recently, they also started to request KYC verification these days.  ::)  They were the go to service for these kinds of service, but they also bowed to government pressure. The problem is, as soon as there are Fiat involved and also Banks, the service used will always demand KYC/AML verification. <Fiat = Government money>  ::)

You might try some of the decentralized exchanges, because some of them are still new and they do not require verification yet. <They might be too dificult for newbies>  :P

What exchanges? As I know decentralized exchanges don't work with fiat money.

The only way that I know is if OP will switch his BTC into ETH and make an account on localethereum, which is  p2p like localbitcoins and at the same time decentralized  and don't require KYC.

If you want to transfer your btc to any bank directly then I don't think you can avoid KYC verification. You can sell it on your country or you can choose someone trusted from Localbitcoin website. Another thing you can do, post on Currency exchange  (https://bitcointalk.org/index.php?board=53.0) bord of this forum. Mention your country then someone will buy it. And obviously you should use escrow service to avoid scam. Don't find easy and shortcut way always. May be someone or some website will scam you. To be honest coinbase will best if supported by your local bank.

I have known a wallet that you can sure convert or withdraw your bitcoin anytime and I think it is certainly can be trusted by anyone that is having a doubt with bitcoin But I really think it is only available in my country, Well I think there is a certain wallet like that in there, Ask someone from your friends if they know something like this, Well if there aren't you can surely just withdraw to some bitcoin ATM and you can sure withdraw your bitcoin and turn it into fiat currency, Well, I guess there are wallets now that are directly connected to a bank so you can surely try it if there are something like that in your country best regards finding one.

pegasus7293, as some have already suggested, check if there is in your country some local exchange which allow user to simply deposit crypto/sell it, and send money to bank account. In that way it is easy for you to sell crypto and send it directly to desired bank account.

You also ask for PayPal possibility, and you should need to know that PP is risky option, so read about that here (https://bitcointalk.org/index.php?topic=14632.0). But if you still decide for that option, we have Currency Exchange (https://bitcointalk.org/index.php?board=53.0) board on forum, and there you can find some trusted sellers/buyers (be sure to check trust summary before any trading).

Where do you live by the way? Here in our country we have this app called Coins.ph and we can convert our crypto assets into fiat and cash out through remittance centers or banks, crypto currencies mostly on the top market like btc, eth xrp etc. But it also needs verification if you are withdrawing huge money. I think we can transact small amounts only if not verified.

It depends on where do you live, some countries have local banks/exchanges which offer good services but without ID verification, I highly doubt you'll find any good one. As far as I know cex.io doesn't require verification and you can easily exchange crypto into fiat. Btw XAPO is great but it requires verification, their rates are pretty good and it will be easy for you.
You could also post in exchange section and ask if someone will send you fiat in exchange of bitcoin but I bet best offer for you will be cex.io

I'm not sure if it will be more easiest but it depends on skills of this person.
You can install wallet on his mobile, and show him how to withdraw fiat money from BTC ATM.
But, also a condition that must be met is to have BTC ATM near.
At least you will pass the paperwork with sending documents to register on Coinbase.

I don't think is a good idea to pay some one who have zero knowledge on bitcoin with bitcoin because where to convert it to fait will be a great problem for him/her, but if you are looking for exchange that can convert bitcoin into fait money and get the found deposited in your bank account you can try remitano it an escrow site where buyers meet sealer's and you don't need identity verification before you sell bitcoin on the site.

I think you should pay to him FIAT. You may sell your coins and then send him a FIAT money. People who doesn't know what Bitcoin is, don't trust cryptocurrencies easily. And he will always be doubtfull about this payment if you will pay him a cryptocurrencies.

And he may doesn't want to payment with BTC. It is normal. Because still Bitcoin can't spread all over the world. Goverments has to regulate about cryptocurrencies.

Here's a website I use when I want to sell crypto for fiat: https://www.bestchange.com/bitcoin-to-paypal-usd.html. If that person feels more convenient with fiat, why won't you sell your Bitcoin and get the money transferred straight to his/her Paypal account? Note: I usually use this website to find suitable exchanges to sell Bitcoin for my country's local currency. I've never been scammed here, so I trust the source, but I cannot guarantee it's 100% legit. Moreover, sometimes the website it lists can require a lot of personal info (that's the case with Cyberbtc). In case you are Russian or Ukrainian, there are many online local exchanges that transfer money straight to bank accounts with you providing only email and sometimes phone and name.

I agree with you. Bringing more people towards Bitcoin is nice but the idea is that they win out of it too so they stay.

Trading to fiat can be pretty annoying to learn and doing it to someone you actually know makes it even worse for both of you. You should definitely sell it for him and pay him.

The only possibility here is that he wants to hold, which is completely different but he better be sure that he won't panic sell.

This is very simple just google it and find which crypto wallet in your local country that supported Bitcoin and you may convert to fiat.
However, it is impossible now to bypass KYC, most likely local exchanger wallet has a KYC verification.

Mate, you can find it on google for the best answer for you.

You should use Localbitcoins all the way, they don't ask for users ID, only some sellers ask for it but you can make the transaction without that verification. I haven't sold for paypal in the past but i know localbitcoins makes it possible.

Guys, you missed something. It's not @OP who is looking to sell BTC to Paypal. It's someone he knows and owes some money.
He wants to pay back the money in BTC so he asked for an easy way for a newbie to receive and sell BTC to fiat.

@OP
As soon he will sell and transfer fiat to his account the KYC verification will be needed. If it's isn't a problem for the person then he could basically use any exchange. He may use Bitstamp, Kraken.

People who normally have 0% knowledge about Bitcoin and cryptocurrencies in general are mostly skeptical on how safe and secure their money is. It will be best to make the transaction directly with physical fiat because he will just worry you on how to trade it back for fiat. Secondly, has it stands now, there is no app or exchange platform that provide the kind of service you are looking for.....

If they have a bank account then its fine to transfer money from their bank account. It is also easy to make a verification on a cash app, that is only a legit Identification card that you have. I think there is nothing hard way from that instruction.

If they don't take kyc then they cannot be trusted. You can convert it to ethereum instead and use myetherwallet to convert to fiat without kyc, but bitcoin will probably be preferred over eth

This is an interesting question because I have also had problems in my company with users who wanted to make me a payment in cryptos, now these looking at whether to collect with any currency or better I stay as I was ...

if there are newbie that just join in bitcoin, my advice is reading, because many read about all news that related with bitcoin will improve your knowledge about bitcoin, and i think it will be good when you want to try anything else on bitcoin

Wait what? I don't think requiring (or not) of KYC is a good benchmark for trustworthiness. Custodial services typically require this, while standalone software wallets don't. That being said, everyone must be wary about sharing their personal data.

Best way for earning bitcoin as newbie is looking for some thing project do not needed have make invest, you have try joining on free site project like bounty and airdrop, you can use your earning for investing at bitcoin or altcoin next time.

I had similar situation, trying to send money to someone in Africa, without Internet, and no Paypal account.
I asked him if he have some good friend, he personally trust, and who use Bitcoin.
He was able to find someone, so I send btc funds to his friend, he exchanged btc to fiat and gave money to him personally.