Bitcoin Forum

Hello,
I am in need of some cash and I have to sell somehow my BTC. What is the fastest way to transfer my coins into my bank account and then withdraw them as cash from ATM or at the Bank? Is it good to sell them into my paypal account and then link my paypal to my bank card? Is it better to use an exchange or I can sell it to someone trusted on the forum? I am in very hurry!Thank you!
BR
Gondel

Sometimes I think you ask questions just for the sake of it Gondel. If you sell to paypal you're likely to be scammed. You can easily sell for bank transfer on here as I'm sure you already know.

where are you from?
the fastest way is use exchanger to convert your BTC to real money but i prefer choice exchange where I can directly swap into a bank account because if you use paypal to pay taxes again for the withdrawal of funds

HI,
I didnt exchange any of my BTC for real money before. I am using BTC not for exchanging it for cash, but to use it as it has to be : in exchange for a favor or work done. Right now I am faced for first time to change my BTC into cash, because I cannot pay my electricity bill with BTC. Thats why I am asking directly as I know someone will give a proper answer.
Thanks!
BR
Gondel

Then use a bank transfer or some money transmitter services that lets you quickly withdraw the money.

Sell them on localbitcoins.com? It depends what country you're in.

Can you get verified on there quickly though? He needs the money asap.

As said above, Localbitcoins is by far the quickest way (as far as I know) for selling BTC for fiat. Just find a buyer who's pays with online bank transfer, should get the cash paid into your account within the hour.

Finding a local Bitcoin ATM which accepts 2 way transactions or localbitcoin would be one of the best choice.

 ??? ??? ???

You have more options depending on where you live...the best one is 2 way bitcoin ATM, the second one is these forums with trusted escrow, thirsd one is local bitcoin and 4th is any kind of exchange  but it may take a while to get vertified but if i'm right btc-e doesn't even require vertification (not sure i'm not trading there).

You could accept Paypal if you know the trader has a very good track record.  Somebody who has a lot of positive trust and been on here for a couple years.  They would most likely charge a small fee though, but you would get that anyway using local bitcoins.

The fastest ways are to use 2-way ATM, localbitcoins, or currency exchange section here on bitcoin.
You need to be careful with scams for all p2p trades and so you should use escrow whenever possible.
For paypal, the sender could chargeback and so it is more dangerous to sell bitcoin for paypal. You should only accept paypal deals with people very trustworthy.

https://en.bitcoin.it/wiki/Selling_bitcoins

One good exchange is enough for you. Find one, that suits you best (easy bank trasfer, not too much validation etc.)

I haven't heard that paypal start accepting BTC. Is it true?

Not true, PayPal hates Bitcoin alot. What we are talking about is exchanging BTC to PayPal with a trusted person. Or an exchange.

Personally I use localbitcoins to sell my BTC, You get the funds start into your account.

Just remember to set up 2 factor authentication whatever you decide to go with!

Even this can be very risky. It costs a trader nothing to create a new account and the trading history does not mean very much for most trades

IMO coinbase is the best way to move BTC into fiat

Also, accounts can be bought or stolen, the buyer can turn greedy and chargeback. Many people had bad experiences with coinbase isn't it?

best way to get cash from btc is to go to landofbitcoin creat a account then find a best exchanger on the site .. they accept paypal.. cash .. western union and all of things which are common.. :) you can meet a person then get cash from it..

Use localbitcoins and sell for a transfer into your bank. No point to sell for paypal and then have to do the transfer to your bank also.

+1 for localbitcoins.
You just need to pick a trader with decent feedback and history, and the trade can be completed in a very short period of time. :)

Perhaps you guys haven't traded on this forum or other forums before.  I've been selling computer hardware online since 2000.  If a trader creates a new account, he's back to 0.  He will have no trust, no eBay feedback, no Heatware - nothing.  Not sure what you meant Harley997

If his account is stolen or sold then his recent trade history would have a pause.  Somebody with 150 trust like Canary isn't going to risk his reputation for $300 in Paypal  :D  Some new user with 1 or 2 positive small 0.01BTC transactions would.  That's why I said look at the user's history the same you would at your friends.  You have friends you would give your house key to and friends you would lend a quarter  ;D

I`d probably setup ad on localbtcoins.

Setup a cash deposit ad, and your pretty much good to go. Or just finding ad on there that offers the best rate.

I think that selling localbitcoin accounts would be frowned upon by localbitcoin however I don't know how this type of policy would be enforced, especially if the account was being sold so the buyer can pull one scam, or a series of scams at one time.

Trust can be built, some people trade a lot just to wait for a large amount to chargeback. It isn't 100% foolproof to trust a person.
You cannot stop trading of an account as they cannot determine whether you changed the ip address and email or is it another person.

HI,
So to summarize your replies : It is little bit difficult and you are taking a risk when you try to exchange your coins for cash!
There is always a risk factor when you have to trust to someone for something. I will wait for better days for BTC. No ATM in my country.
BR
   

There are some escrow in this forum, and maybe you can try them?

Pretty much so.
Btw, you could also directly spend bitcoin on products and services, rather than selling your bitcoin for cash and then spend the cash. :)

No PayPal IMO, I have done few deals with PP and the one selling the coins (or anything in general) is the one in the weak situation (that would be you in this case). And no matter what you provide to PP specially in BTC purchases (and most purchases generally IMO) they side with the original sender. Try looking for something else on Localbitcoin (maybe even a Face to face exchange with someone you see trustworthy in a bank or something).

Another option would be to use Mycelium local trader, right from the Mycelium Wallet App.
You can even check for the traders without the app installed over here (http://www.mycelium.com/buyandsell).

Yep Localbitcoin's the easiest way to sell btc => cash, especially if it's a bank transfer. Just make sure to check their feedback and ideally sell to an account that has a phone registered, real name etc

Use btc-e and wire transfer to your bank.

The best way in my opinion is selling it to a trusted Bitcoin exchanger. I am a member of a buy and sell group catering services such as fund exchanges and one I see most recently is changing its bitcoin funds into a local money via bank deposit.

If you made 1 btc per day, how would you cash out without getting caught with taxes.

Not really. It's just trading fast. In reality, if you need the money urgently, and you didn't verify your account. Localbitcoins is the best option.

If your based in the United States it really doesn't get much more convenient than coinbase

Did you include the time for the verification process?
Also, some people prefers to prevent all those process as much as possible. :)

The problem is it invades our privacy, most of bitcoiners do not one anyone to have their ID's and address.It isn't fully safe to trust an exchange. Also, in the scenario of you trying to cashing out bitcoins urgently, but you have never verified there before, localbitcoins can be the best choice.

I am using kraken, because you don't need to send them photos of ID and such stuff. Over SEPA money comes in 2 days, withdraw is only 9 cents.

Yes I had € on my kraken account and was using SEPA withdraw to my TRR and only fee was 0.09€.

There is 0.2% (get lowered with more trades) fee on trading so definitely they make quiet a big profit.