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Author Topic: How to cash out the money from electrum  (Read 228 times)
goodbed (OP)
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November 12, 2023, 05:26:06 AM
Last edit: November 12, 2023, 08:29:49 PM by Mr. Big
 #21

How to pull out the cash from electrum stored btc anonymously?
You need to use an exchange in doing that. But for some instance that there's no local exchange found in your country and the known exchanges won't support a withdrawal to your location, then they're right about finding a p2p market where you can sell those Bitcoins you've got on your electrum. Given the situation that you want to sell it anonymously, the choice of doing it on those platforms like bisq is one solution. You don't have much option at all since if your country banned Bitcoin, people are likely to cover themselves from being a holder of it if you try to go with your local p2p.

appreciated Tabas ! Well I knew some of groups where they buy and sell btc in my region but unfortunately they were arrested doing stuffs.



How to pull out the cash from electrum stored btc anonymously?
it's difficult on how to go about to help you with what you really seeking for as the question  seem obscure to relate with  in giving a specific solution, from all the comments am reading each comment is delivered standing on how they understood your question. Op why not throw more light  to it.


How to pull out the cash from electrum stored btc anonymously?
write your country in addition to the commission, or download Bisq and search for someone who trades peer-to-peer.
Facebook and Twitter are good options if the amount is small and there is Bitcoin trading activity in your country.
Trade in a public place with small amounts.
Bisq is more suitable to use in this case and not through any social media platforms FB or X as there has turned to a breeding ground for scammers to prey on unfamiliarity and inexperiences of crypto newbies.


@lida93 I think I must store in electrum 2FA until I collect least till government allows, if not then I may get arrest doing stuffs ?
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November 12, 2023, 06:54:46 PM
 #22

@Lucius I gave the advice because the OP question was doing the fiat cash out anonymously and to have it done she has to start with the wallet holding the fund.
@Saint-loup I believe the use of VPN or Socks won't provide a good level of anonymity since the fund-holding wallet is already exposed. The best option is what is explained by Lucius.
There are millions of transactions on the BTC blockchain publicly available(almost one billion currently) if it was easy to get the identity of people from those datas, we would heard stories of Bitcoin users busted and put in jail everyday. So I'm not sure it's the most critical point. On the contrary, your IP address is directly linked to your identity, so it's important to take care of it. Moreover hiding your IP address behind a VPN or a proxy doesn't prevent you from using a mixer or an exchange in order to break your transaction chain.

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cryptoaddictchie
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November 13, 2023, 02:46:25 AM
 #23

How to pull out the cash from electrum stored btc anonymously?
Maybe contact someone online to do some p2p with him. Never really tried to do transaction anonymously since you are going to cash out real money. Well thats kidna hard but if you used centralized exchange youll be able to do it easily but with some discreet details upon it. Personally Id like to try this but I dont know how I can start.

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November 13, 2023, 03:02:22 AM
 #24

How to pull out the cash from electrum stored btc anonymously?
First, if you have bitcoins in your Electrum wallet, you will take the address of a sex exchange. Then go to the cents option and paste your bitcoin address there and select the amount you want to send. Then you have to pay an appropriate fee there will be some time for the miners to target your transaction to be successful. When your transaction is successful then you will get that exchange and trade your bitcoins to USDT there. Also you can sell bitcoins if you want, from the exchange you go directly to p2p where you can do p2p transactions. When you transact there you can withdraw your cash anywhere via bank transfer or master card etc. But you must be careful in doing such transactions as many people fall into the trap of cheating here. And then you can convert bitcoin directly into real currency.

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November 13, 2023, 04:11:54 PM
 #25

How to pull out the cash from electrum stored btc anonymously?
Electrum is a Non-custodial wallet where you can safely hold your bitcoin because when you have done the creation a wallet thete you got a private key. and that key will help you to  access your bitcoin and that key is not possible to hack by any hackers. but Electrum wallet will not provide you any p2p services or Facilities to direct selling your crypro with fiat. for this you have to take help of a centralized exchange like binance then transfer your btc to Binance and sell it on p2p

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November 13, 2023, 05:00:24 PM
 #26

Electrum is a Non-custodial wallet where you can safely hold your bitcoin because when you have done the creation a wallet thete you got a private key. and that key will help you to  access your bitcoin and that key is not possible to hack by any hackers.
It is not impossible for your assets to be hacked in any wallet, including electrum, there are wallets that are safer than others, but you cannot say that you are 100% secure and your funds cannot be hacked. Mind you that Electrum is an online wallet, and if you use an online wallet, there is a higher possibility that you could be hacked because the device that you keep your assets is connected to the internet.
for this you have to take help of a centralized exchange like binance then transfer your btc to Binance and sell it on p2p
You can trade your assets in a centralized exchange, but i want to point out that if you wat to trade peer to peer, you cannot do that in a centralized exchange, but in a decentralized exchange.
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