Bitcoin Forum

Hi, guys! I have some bitcoins and would like to exchange them into fiat currency. I've done some research into services out there but none have managed to make me feel confident about using them. I'm no expert on the exchange market, so if anyone can help me out it would be much appreciated.

What do you consider high fees?
Did you consider using localbitcoins or the currency exchange section here (https://bitcointalk.org/index.php?board=53.0)?

I mean withdrawal fees. I want to convert my bitcoins in fiat currencies.
I did not trade before, so its not so easy to unerstand for me.
No, I did not use localbitcoins service. I'll check it soon. Thanks.

I looked at local bitcoins, but I do not think it is more profitable than to use exchanges.
Can anyone give me suggestions on how can I transfer my bitcoins into fiat money with minimal loses.  ???

hello. Which exchanges did you look at? You from?

I started with btce.
I've notices, their support is not so rapid, but it doesn't matter.
Withdrawal fee with min. 0.1 and a comission of 15$
So I do not like this and try to find something else. So much exchanges.
I am from Finland if it matters.

Mika, Really do not understand your choice. Main criterias?
btw I think it is one of exchanges on the market
just look - bitstamp bitfinex cryptsy and many others
Try to find something here.

You can use ANXPRO (http://bit.ly/UxeAkD) is a trusted exchange with curently cero fees on withdrawals and deposits!, it supports sepa europe banking system, and if you are in australia or asia it will take even less time to exchange your bitcoins.

Place for the advertisement.  ;)
BTW 0% fee - is good.
But I do not see much mentions about this exchange in the internet. So I must think, if they can be a trusted partner.
If there are any other exchanges with 0% fee? Anybody knows?

Mika there are a lot exchanges.
try bitfinex, bitstamp for example
you can see sone charts here: www.bitcoincharts.com (http://www.bitcoincharts.com)
i'm interested what will be your choice...  ::)

Fee are second if you trade correct.

Thanks! I see, market leaders in euros are: ANX, Hitbtc, Kraken, bitcoin.de and alot of leaders in usd: + Bitfinex, Bitstamp, BTCE, Lakebtc.
Whom to choose? ease of use is also a very important metric.

Sorry, what you mean?

ANybody here?
I've mentioned that bitfinex (for example) doesn't support 0% withdrawal fees.
International wire: 0.100% of the deposit amount, with a minimum of $20.00 (proof https://www.bitfinex.com/pages/fees (https://www.bitfinex.com/pages/fees))

You can also sel your coins here on the forums with no fees at all or use localbitcoins i see no problem here?

DubFXThere is no problem here. I'm just thinking and trying to analyse how I can exchange my bitcoins for euros wtih minimal losses (ie fees). This is the first time i've needed to this but almost definitely not the last.
Now I have an interesting (and high paid) job, but the employers paying in bitcoin, So I'm try to find out the best way to get my cold hard cash. That's it. But who knows - maybe tomorrow I'll start trading.
I see that people visit this forum the most and that they'll most likely know which exchanges are the best and easiest to use, so please help me out if you can - any info is much appreciated!

ok Mika,
So first you should check the market. i see youve done some work on it - what did you get from it?

So we have:
Bitfinex – 0.100% fee FOR US DOLLARS. But I don't see any euros. Check here: https://www.bitfinex.com/pages/fees
Bitstamp – I found only this on their site. https://www.bitstamp.net/fee_schedule/  So fee depends on the  withdrawal amount or what?
ANX – I did not find any information here: https://anxbtc.com/
haven't done it yet although someone in this thread wrote that they have a 0% fee. But I can’t prove that.
Mintpal – I looked here but didn't find any information on how to withdraw USD or EUR. https://www.mintpal.com/fees

I'd add here: kraken, lakebtc, hitbtc exchanges

Take a look at other exchanges: I looked at LakeBTC. They do not support SEPA, as I can see. Also I tried to look through their faq, but it’s not so straightforward and hard to understand :-\ I didn’t have any experience myself before, so any information about how-to is very important for me.

So why did you start your search with btc-e? And what can you say about them? Why did you decide to keep searching instead of start trading?

m- premined LTC clone
-StableCoin-  0 starting diff, died and revived.
-SIC Sifcoin- Uses new hashing, series of SHA-3 candidates, CPU only.
-Ybc Ybcoin- YAC Clone.
-GLX Galaxycoin- Fast NVC clone with constant reward for 8 years.
-NUG Nuggets - premined LTC clone with random superblocks and constant base reward.
-LBW Lebowskis- NVC clone.
-CSC CasinoCoin- LTC clone. 0 starting diff, superblocks at start.
-EGC EagleCoin- LTC clone. 0 starting diff.
-ZTC ZenithCoin-Freicoin based -demurrage +Scrypt. 50% tax for developer.
-ONC Onecoin- a coin that has total supply of 1, Scrypt-jane
-ELP ElephantCoin- LTC Clone with random blocks a

I saw a review here: http://theblogchain.com/bitcoin-exchange-reviews/btc-e-review/  Author writes about lack of trust and some other things, so I decided not to take part in trading there. I tried to contact their support but wasn’t successful (they ignored me). ???  I also found this article but likewise it’s not amazingly helpful: http://www.coindesk.com/btc-e-exchange-banking-issues/  I think BTC-E would not be my choice.

Ok. So what about others?

Kind of a spam. Or what you mean?

I don’t know which to look at again.

lol I’ll wait till you choose where to exchange your bitcoins. I hope you’ll write about it here.

Sure. I’ll take another look at the market by myself.

Mika, are you stupid? Don’t waste your time – choose market leaders.

Bitcoin exchanges involve real money. I don’t need something where I’ll get problems with withdrawal etc in future. I need somewhere where I can easily exchange my bitcoins for euros with minimal losses on withdrawal.

Ok, your choice. When I need that, I choose btc-e. Yes, they have some problems with support etc. but it otherwise works fine and I’ve not had any problems with them before.

yea, but I wrote that I can’t understand anything there and I do not trust them enough.

k. ur choice

Mika, so what did you choose? :)

Found two new exchanges: icbit and hitbtc. But I don’t know if I can trust them any more than others. ???

I used Bitstamp and Hitbtc – they have same fees, but bitstamp is much bigger. But all went ok both times.

Yea, but I need to be sure about other stuff too..

hm. This thread is about withdrawals… what else do you need?  ???

lol - look at this thread. Just wanted to suggest a Cryptsy.
https://bitcointalk.org/index.php?topic=665572.0  8)

I think ease of use, simple interface and safety at least! Don’t want to lose money. I heard about Mt.gox issues.

I will check it :)

It was such a long time ago and did not reoccur with any other exchange. How much cash will you want to keep there?

Not so much, but its my salary for a full time day job – so all of my money. :-[

Now I understand you a bit more.

So I looked at other exchanges. I looked at hitbtc - they have a normal faq and how-to at least.

Hi all
So I wanted to say firstly thank you to everyone who posted here to help me out - i got a lot of useful info which i will refer to in future (i guess it won't get deleted for a while?  :)
I've now had a chance to look at a lot of different exchanges and do some research on them, and after everything i settled on bitstamp and hitbtc. These two had the easiest interface i found, with everything set out in a sensible way and their credentials obviously seem pretty good so i doubt i'd have any major problems
As i'm looking to withdraw in euro in the end, i'm thinking hitbtc will be best though. I noticed bitstamp is in the US and when i opened an account there was no euro stuff anywhere, despite them saying they cater for euro withdrawals too. I later found that you have to withdraw money in dollars and then it gets transfered as euro, but that you won't know how much euro you get until after you've completed the transaction.....obviously that's not quite good enough for me as I want to know what i'm getting really. I also thought (but don't know) that if it's being sent from the US, it could take a while to reach a european bank account.
My account on hitbtc definitely shows euros and I read they're europe based so that kinda clears up any issues i had with bitstamp i guess. i need to make a deposit to my account from my bank account to verify it first though, which will take a day or two perhaps, but then i should be good to go.
thanks everybody again - i'll write here again to let you know how it's going and if there are any issues of course.

Hi all :)

So to update, I've been using hitbtc now for the past week or so and it's been working out fine so far.. interface takes some time to get used to but after that it's kinda simple for just basic trading like I need. One thing is that to withdraw fiat you have to wire in funds from your nominated bank account first (I guess some security thing, not sure) - which takes a while but after that the withdrawals seem to go pretty fast, i've made 3 now (well almost), will attach a screenshot fyi. Thanks again everyone for helping out!

https://i.imgur.com/l9cHoUm.png?1