CoinMonster's Sell-Your-Bitcoins-for-USD Cash by Mail Service, Escrow Welcomed

[CoinMonster]

Hello BitcoinTalkers!

I'm CoinMonster. I have been making preparations with a partner to offer this service for a few months now, and we intend to offer this service for the foreseeable future.

Simple Service Summary:

1. You send bitcoins.
2. In the mail, you receive physical USD cash paper money.

Fees & Price
• With escrow: BTC-e.com USD rate + 9.9% & $5 + $20 Express shipping fee.
• Without escrow:  BTC-e.com USD rate + 7.9% & $5 + your chosen shipping fee.

Escrow
Escrow is welcomed, however, notice that the fee is 2% higher for escrow transactions. I suggest SebastianJu's Free Legendary Escrow Service or Monbux's FREE Escrow Services but you can choose whomever from the BitcoinTalk.org escrow providers list as long as you pay any escrow fees. There is a limit of about $1,600 in cash that will be available for escrowed trades daily.

How does it work?

3 STEP PROCESS:

Step 1. You fill out this form with the info about your order and send it to me by private message (pm) here at BitcoinTalk or via XMPP/jabber instant message or by email. The Form:

• Do you want to use escrow? Yes or No.
  ^ Fees: 9.9% + $5 + shipping with escrow vs. 7.9% + $5 + shipping without escrow
• US Dollar amount you want:
  ^ Limited range: $20 to $1,000 in intervals of $20. For example, $20 or $280 or $1,000 are acceptable amounts. $50, $280.25 and $1,200 are not acceptable amounts. Note: all cash comes directly from a bank or ATM so must be in $20 increments ($20, $40, $60, $80, etc.).
• Mail Class: USPS Priority [fee: $5.95] or USPS Express [fee: $20]
  ^ Choose which one you want. Both include tracking numbers. Priority Mail arrives in 2-5 days usually. Express mail arrives in 1-2 days. If you want escrow, you must choose USPS Express.
• Mailing address for the cash (USA ONLY!):
   ^ Use Temp.pm or a similar site to encrypt your address if you don't use PGP.
• Bitcoin Refund Address:
  ^ Your bitcoin address for a refund in case it is needed.
• Your email address and/or XMPP ID in case you contact me outside of bitcointalk:
• Your PGP key (optional):

Step 2. I send back to you a bitcoin address (or the escrow provider sends it to you) and how much bitcoin to send there. I'll send you a transparent fee breakdown to show how the bitcoin amount was derived. You must send that amount to the given address within 1 hour for the quote to be valid. For fastest service, use XMPP ("Jabber").

Step 3. I'll contact you with the tracking number after your cash ships and notify you of the order status. It will be in the mail within 24 hours under normal circumstances.

CONTACT INFO:
BitcoinTalk Private Message (PM)
Instant Message (Jabber / XMPP): coinmonster@jabber.at | Easy Guide: How to set up jabber instant messaging
Email (if you must, this is slow): coinymonster @ notsharingmy.info

CoinMonster's PGP Key:

Code:

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Q&A

Why is the fee higher if I want to use escrow?

Escrow puts a serious drain on our funds, so we discourage it with a higher fee, but it is still acceptable. If one person gets $800 from us and another person gets $800 from us the same day, and they both use escrow, we won't be able to do any escrow transactions until those two are completed.

Why do I have to get Express shipping if I use escrow?

So that the escrow transaction can be completed in the shortest possible time.

Is there any limit to how much cash I can get from you?

Yes. We are limited to $1,000 (regardless of number of transactions) per person, per day.

Why can't I sell you more than $1,000 worth of bitcoins in a day?

There are various reasons for this. It would seriously deplete our capital for the amount of time it takes to complete a trade. This is a small business. Also our lawyer advised us to keep it under this limit for now for multiple legal reasons.

Why won't you send cash outside the USA?

It is just not practical to do this, and the risk of problems with your country's customs agency make this not worth trying. Furthermore, transit times would be prohibitively long to most locations.

Do you require ID verification to initiate or complete a transaction?

Never. Don't want it. Don't need it. You will not be asked to expose yourself to potential identity theft in order to sell your bitcoins.

I've got another question!

Please ask.

Edit: I will soon have separate detailed instructions for escrowed transactions and non-escrowed transactions to streamline this.

[1714967651]

1714967651

[1714967651]

1714967651

[1714967651]

1714967651

[Timelord2067]

Are you sending the cash via Registered mail?

[CoinMonster]

Are you sending the cash via Registered mail?

No I hadn't planned on it. It'll be going via Priority Mail (with tracking) or Priority Mail Express (with tracking). The cash will be discreetly packaged.

I don't see any real advantage for either party by doing Registered Mail. It takes more time to physically get it in the mail, it goes slower in transit (~10-14 days), and costs more (than regular Priority Mail).

Edit: for clarity

[Timelord2067]

Are you sending the cash via Registered mail?

No I hadn't planned on it. It'll be going via Priority Mail (with tracking) or Priority Mail Express (with tracking). The cash will be discreetly packaged.

I don't see any real advantage for either party by doing Registered Mail. It goes slower in transit, takes more time to mail, and costs more.

Oh ok, that makes sense, hey thanks for that!

[Quickseller]

How exactly do you plan on having the escrow mediate any disputes between you and the seller? What would happen if the seller claimed that you sent them an empty envelope/box?

I also find it interesting that Timelord is not questioning you more, especially considering that it appears there is a fairly high chance that your account is purchased. You aren't an alt of Timelord2067 are you

[The Sceptical Chymist]

Will watch this thread and see what develops and whether anyone actually uses this service.  Sounds interesting, but there's definitely potential for abuse on the seller's end as QS pointed out.

[CoinMonster]

How exactly do you plan on having the escrow mediate any disputes between you and the seller? What would happen if the seller claimed that you sent them an empty envelope/box?

I had thought about that, which is why I'll be doing this: taking a video of the cash being checked with a counterfeit pen, then being counted, being packaged and sealed into a Priority Mail Express envelope (I have a stack of them) with the client's address and proper postage on it, and then that being mailed. If that's not good enough for the escrow provider, I don't know what is. I'm open to suggestions. I definitely don't think Registered Mail would help anything or I'd use it.

I also find it interesting that Timelord is not questioning you more, especially considering that it appears there is a fairly high chance that your account is purchased. You aren't an alt of Timelord2067 are you

I figured I answered Timelord's question. My account is not purchased. I've had the same one since 2011. I am not Timelord2067. I'm not Quickseller either, yet Quickseller is posting in my thread. Conspiracy? I think not.

Will watch this thread and see what develops and whether anyone actually uses this service.  Sounds interesting, but there's definitely potential for abuse on the seller's end as QS pointed out.

There is of course potential for abuse with each person in Currency Exchange. Caution is justified naturally. However, I've been preparing for quite some time now because I will actually be providing this service, and escrow is available.

[Timelord2067]

Am still here - have been working on outting scammers eg https://bitcointalk.org/index.php?topic=1326221.new#new (and I have a life)...

Quickseller is just blowing smoke to mask his/her next dubious Escrow.

Any moderators reading this - feel free to match my IP against both Quickseller and CoinMonster

[Timelord2067]

How exactly do you plan on having the escrow mediate any disputes between you and the seller? What would happen if the seller claimed that you sent them an empty envelope/box?

I also find it interesting that Timelord is not questioning you more, especially considering that it appears there is a fairly high chance that your account is purchased. You aren't an alt of Timelord2067 are you

Hm, - Nine scammer Alts identified and crossed verified in the last two days since my "last" post. (and quickseller was the next post after mine...)

[CoinMonster]

OK thanks everyone for their trying to protect everyone else from scammers. Time for us to return to the topic:

I'm online and available for trades daily.

[eddie13]

I'm open to suggestions.

What if you had the BTC seller send the BTC to the trusted escrow, and then also ship the box of cash to the escrow, and then the escrow can forward the box of cash to the BTC seller after the escrow confirms that the box does indeed contain cash of the proper amount.

[CoinMonster]

I'm open to suggestions.

What if you had the BTC seller send the BTC to the trusted escrow, and then also ship the box of cash to the escrow, and then the escrow can forward the box of cash to the BTC seller after the escrow confirms that the box does indeed contain cash of the proper amount.

$1,000 does not require a box, but point taken. I suppose that would work despite the extra time and shipping costs and extra work for the escrow provider. I'm open to it if someone really wants to do it that way and pay the fees.

[Indianacoin]

I am looking for a trade like this but will you be able to ship it in India since Indian Customs are the worst barrier here. They will investigate every packages before delivering it to the consignee. And seeing a foreign cash coming in they will charge too high from Tax Department.

Also delivery takes a longer time, almost a week and a half through UPS Express mail.

Is there any solutions to this? If you have one please share so that we can work it out.

[CoinMonster]

will you be able to ship it in India since Indian Customs are the worst barrier here. They will investigate every packages before delivering it to the consignee. And seeing a foreign cash coming in they will charge too high from Tax Department.

Also delivery takes a longer time, almost a week and a half through UPS Express mail.

Is there any solutions to this? If you have one please share so that we can work it out.

I'd like to help, but for all the reasons you outlined and a few more, I just really don't think that is a good idea. The potential for major problems to arise is too high for comfort.

Why won't you send cash outside the USA?

It is just not practical to do this, and the risk of problems with your country's customs agency make this not worth trying. Furthermore, transit times would be prohibitively long to most locations.

[nor9865]

I'm online and available for exchanges daily.

i would like to try cash in the mail service for 0.54 btc

[CoinMonster]

No problem. Send me a PM or add me on jabber.

[nor9865]

No problem. Send me a PM or add me on jabber.

pm'd

[nor9865]

sold him 0.52 for cash by mail.

escrow was sebastianju

lets wait and see how this goes now.

(coinmonster will record the transaction from packing to posting)
(i will record the pick up and opening)

[The Sceptical Chymist]

sold him 0.52 for cash by mail.

escrow was sebastianju

lets wait and see how this goes now.

(coinmonster will record the transaction from packing to posting)
(i will record the pick up and opening)

I might be jumping the gun on this, but did you receive the cash yet?  I'm still interested in how these transactions might work out and as I said earlier I might be willing to try this.

Are you guys going to post these packing/unpacking videos anywhere?

[CoinMonster]

I might be jumping the gun on this, but did you receive the cash yet?  I'm still interested in how these transactions might work out and as I said earlier I might be willing to try this.

nor9865 will have it today if that's not already the case.

Are you guys going to post these packing/unpacking videos anywhere?

No. That would raise privacy issues for both parties. They are just for the escrow provider which was SebastianJu.