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Author Topic: BTC to USD, what's the most painless way of doing it?  (Read 627 times)
coastermonger
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January 30, 2013, 12:35:51 AM
 #1

I'm currently playing around with a double digit investment over at MtGox,

When the time comes to withdraw it back to the bank, I'm unaware of which method seems to be the most hassle and fee free.  I'm told bank transfers can take some time and simply charge too much. I'm also a little wary of dealing with unreputable 3rd party companies though, what do you guys use to turn your BTC into USD?

-Much appreciated  Smiley

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sephtin
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January 30, 2013, 12:45:20 AM
 #2

Very interested in this topic, I'll be watching...
To contribute, I've read that Dwolla transactions are cheap (.25c per, I believe).  Hoping others will provide feedback as well.
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January 30, 2013, 12:48:37 AM
 #3

I use TangibleCryptography's service at https://fastcash4bitcoins.com/, it's the best and easiest service around.

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January 30, 2013, 12:50:57 AM
 #4

So far one of the easiest ways I've noticed is by using coinbase. They link up directly with your bank account and I believe when you use their sell feature, it goes through pretty quickly. So with your trade at mtgox, just transfer the bitcoins from your wallet there over to your wallet at Coinbase, and then cash it out to your bank account.

I'm still a newbie over at Coinbase, and haven't done any real-world trading yet, but from what I can tell, this seems to be an easy way of doing it. If someone sees a flaw in what I'm explaining, please tell me!

Care to help a brother out? 1Rickyng8R6q9UZKbRLd1VtPJgW5eM7mL (bitcoin://1Rickyng8R6q9UZKbRLd1VtPJgW5eM7mL)
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January 30, 2013, 12:54:21 AM
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ACH withdrawals from BitFloor to my checking account at a US bank work best for me.

You can't win if you don't play. But you can't play if you lose all your chips.
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January 30, 2013, 01:53:02 AM
 #6

MtGox --> Dwolla --> Bank
Pretty easy but you need to confirm your Dwolla account with MtGox which will take a day or two.  Dwolla charges a 25 cent fee.

MtGox --> Coinbase --> Bank
Also easy.

FastCash4Bitcoins will exchange your coins at a lower value than you'll get on MtGox or Coinbase but you could also use them.

And of course if you have a local buyer who will give you cash, that's probably the quickest. :p
herbalist420
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May 06, 2013, 07:37:50 PM
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.....
xcezzz
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May 06, 2013, 07:39:09 PM
 #8

I use localbitcoins.com

Always good to meet up with someone in person and get straight cash right away... I live in the tampa bay area and there's one solid guy who buys em at current mtgox price minus a percentage depending on amount
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May 06, 2013, 08:09:09 PM
 #9

Has anyone thought of a way to exchange BTC onto an prepaid debit card like https://www.moneybookers.com/ads/mastercard/ (just an example, i know there are others)?

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May 06, 2013, 09:21:45 PM
 #10

OkPay is pretty cheap. I would use them.

Tips go to supporting miner development efforts: 1Pkadn6yEYntc13cMjQZSadZjfaHDcmQ2V
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May 06, 2013, 09:33:30 PM
 #11

I think the best way for you, is to buy something with BTC... and forget about $. Shocked Shocked Shocked Shocked Shocked

or.. hire someone to build you something (website, game, whatever) and pay them with BTC than make $ that way ...

not optimal but it will fell so gooood  Roll Eyes Roll Eyes Huh Roll Eyes Roll Eyes

Greed is the inordinate desire to possess wealth, goods, or objects of abstract value with the intention to keep it for one's self, far beyond the dictates of basic survival and comfort. It is applied to a markedly high desire for and pursuit of wealth, status, and power.
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