Bitcoin Forum

I see most people from USA using coinbase since they give the option of selling coins and direct bank transfers but for someone who is outside usa and wants to sell some coins for fiat, what's the easiest way to go about doing this?

More importantly what's the easiest and the safest way of doing this without offering to sell here. Which methods do you suggest of doing this without any hassles and doing it fast and easy.

https://localbitcoins.com/sell_bitcoins

It'll be less than market value, but there are trusted buyers that will pay you within an hour.

Define trusted*

All of them require you to send first and if they didn't pay what can one do but come and cry here?? I don't see any safety for selling there.

Do you mind telling us where you are from?
Sometimes a local exchange could be the best/fastest option.

Or in Belgium and The Netherlands you can actually sell bitcoins 'instantly' through Bitonic.
It's then transferred to your bank account the same day.

I am not selling, I am hodling my coins but I am asking more of a general question as to what is the safest, fastest and easiest way of doing this.

For now, the interface between the fiat and btc world is clunky but there are plenty of countries around the world with their own exchanges. I'm still trying to work out the best way to pay off a credit card in the US without a local bank account.

There is an escrow system on Localbitcoin, it can't really get much more safer than that can it?

Perhaps have a family member or girlfriend cut the check to the credit card company and you give them cash.

And who are these persons holding the escrow?

Also, there are plenty of trusted traders like me on this forum. There are many payment options depending on where you live.

It's the website itself,  Localbitcoin. They do charge a fee though, I believe.

I know that. This is the place where most ppl usually end up when they're done searching everywhere, this is the most trusted place. But it can take some time, I wish there was a place which was safe, easy and real fast like instant.


Yes, I see that they offer the most lowest price and they charge very high fee plus I read some bad reviews about some trades that went sour, I don't know I don't trust that place.

If you're looking to sell, and you want a quick trade contact me or DannyHamilton, or Xetsr on here. You won't get spot, but it won't be near as bad as Localbitcoin.

You should put a listing to sell bitcoins on localbitcoins.com

You are actually likely to get slightly above market value.

You can ask for cash in the mail and the buyer will have to send you the $ first before you release the btc they are buying.

The only downside is that you may have to wait for someone to buy your btc, but it usually happens pretty fast.

I see, what exactly is cash in the mail? and do I have to deposit my coins at localbitcoins for that?

www.bitsimple.com

Really depends on your Country ?
I am in Australia  and I now use a couple of trusted people on IRC now when I want to sell.

I send first, they send first, we all trust each other. Once we login to OTC (and nickserv) everyone happy and verified.
I know I will have the money in my bank account in 24 hour or whatever...  takes a little while to get to that level of trust, but you do due diligence.
Plus they know I will kneecap them =)

but yeah, what country ? or you just asking a general question ? I think its county dependent.

The price you can obtain on LocalBitcoins depends on your reputation.

If you're willing to start with low margins and build up your reviews you will eventually get the trades from the people who will pay more to deal with somebody with the best reviews.

Local Bitcoins seems nice to me, maybe the prices are not so current but it has a reputation system like ebay, and you also can find physical

cash over there.

I prefer coinbase though

You know they're a honeypot, right? Using Coinbase to turn bitcoins into USD is a great way to being harassed/audited by the IRS, even if you think you're doing everything correctly.

They'll also get interested if you're purchasing large quantities. I know somebody who is going through this right now. He used Coinbase to turn six figures worth of cash into bitcoins that he'd been holding on to from cashing out stock options back in 2012, then all of a sudden this year the IRS decided to dispute his basis calculation.

As it turned out they were wrong and actually he had overpayed so they had to give him a refund, but the refund did not come close to covering the time he lost to dealing with them.

Couldn't open this site, it kept showing error.


That's good I believe the majority of transactions which involves turning fiat to bitcoin or vice versa is based on one trusting the other based on his/her previous dealings and reputation. Which channel do you use on IRC to trade? It was more of a general question typically for people outside of USA.


Exactly my point. You can sell here using trusted escrow services but we definitely need secured, trusted exchanges to make this easy, fast and some sort of legal assurance that people will not lose their btc or fiat in the process.


Yeah, I am learning more about them, will try to do some small trades to see how easy and reliable they are and for now they seem to be the only ones dealing with different local currencies.


Yeah, I see some people offer to provide cash trade in person. I will try this out at some point and see how it goes.

Yeah if you're not in the States then localbitcoins would be the way to go. They do have automatic escrow built in last time I checked and generally it's the easiest place to find sellers. The only issue I have would be that pricing wise they are usually a bit worse than the exchanges. I would advise you try and spread your transactions over a few people (all with high feedback) to minimise the effects if you do by scammed (unlikely but it has happened before).

What about Cryptsy ?

Last time I looked Cryptsy only deals with altcoins and not fiat. While they have stated that they will eventually implement an exchange feature there are still a lot of other (and better alternatives available).

Thank, I wouldn't even consider doing any trades there without an escrow and as I said I'll try with some smaller amount to see how it goes and will go from there.


What about it? Do they offer turning bitcoins to fiat in different local currencies? I don't know about it, if you do, please share.

Coinbase is only available to US Citizens?  What about Circle?

buy some gold bars from goldsilverbitcoin or amagi or something and then sell the gold bars for cash at a coinshop? Im not sure if thats the most easiest way, but it is close

I would help but, sure as shit I'd get busted as a money launderer or unlawful transmitter. 

best way is sell to your local friend who need to buy bitcoin
i usually do like that, when they need biitcoin to gambling or buy something
but it's need time to find buyer :(

maybe using BitPay?

Paypal should absolutely not be accepted as a way to transfer bitcoin as it can be reversed after several months while bitcoin is essentially irreversible. Anyone that offers to trade paypal for bitcoin is almost certainly trying to scam you