Bitcoin to Fiat

[royal2015]

Any miners out there have a way to quickly sell bitcoin to fiat to pay the bills? I'm struggling with the 5 day off ramp from most exchanges? Anyone sell direct to customers for fiat USD? Any other options that expedite the long ACH process from exchanges? Is OTC an option?

Thanks
R

[Upgrade00]

Not a miner here, but I do think OTC will be a great option. It literally goes over the counter so you do not have to go through any of the bottlenecks a transaction of that size will attract.

Also what exchange are you using? In my experience exchanges process transactions much faster than that, even larger ones.

[FP91G]

Any miners out there have a way to quickly sell bitcoin to fiat to pay the bills? I'm struggling with the 5 day off ramp from most exchanges? Anyone sell direct to customers for fiat USD? Any other options that expedite the long ACH process from exchanges? Is OTC an option?

Thanks
R

I don't know what country you are in. The best way is to communicate in the mining community of your country, where you will find good partners to exchange your cryptocurrency for fiat. If you cannot find such communities, then ask for advice in local forums, if this is the case in your country. Or write your country in this topic.

[royal2015]

Thanks this is in the US. We have been using CB primarily and it's constantly hitting a 3 to 5 day hold. OTC seems like a decent option. I'm also trying to figure out the legal side of private sale if anyone has experience or is doing this currently.

[danieleither]

Any miners out there have a way to quickly sell bitcoin to fiat to pay the bills? I'm struggling with the 5 day off ramp from most exchanges? Anyone sell direct to customers for fiat USD? Any other options that expedite the long ACH process from exchanges? Is OTC an option?

Thanks
R

I'm a miner. I send BTC to coinbase when I want to convert into fiat. I create a market order (which deals instantly) - then cash out (which is also instant). I believe you could use Binance for USD which will also be instant.

[royal2015]

When you say cash out you mean move to fiat or instantly move it to your fiat bank? I'm having problems with the 3 to 5 day lag on the move from USD Coinbase to USD Bank of American for example.

[danieleither]

When you say cash out you mean move to fiat or instantly move it to your fiat bank? I'm having problems with the 3 to 5 day lag on the move from USD Coinbase to USD Bank of American for example.

Hmm - I guess that must be something specific to your country (US)? I am in the UK here. My process is as follows:

1. Send BTC from my wallet to my Coinbase account
2. Set a market order to sell BTC for GBP instantly at market value (my local currency)
3. Withdraw GBP from Coinbase to my UK bank account

The above processes are all instant, even the withdrawal of cash from coinbase to my bank account. Literally, as you press 'OK' to confirm withdrawal, at the same time I get the notification popup of deposit to my account.

[danieleither]

Just wondering... are there any options to provide more ID / details for a higher security clearance level within Coinbase? I remember when I signed up to Binance, there were varying levels of KYC you could do for more functionality and higher withdrawal limits. Perhaps there is something similar with Coinbase, and maybe you're only cleared on the lowest level which holds funds for a few days?

These are just ideas you could look into.

[bcfr]

Have you tried some p2p exchange features?
For ex. binance has p2p market where you could possibly find a buyer with same bank ... could be faster.

[Genesis Block]

What state are you in? I know of a few options depending, I’m also a miner.

Gb