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Author Topic: Shortest route from Bitcoin to USD?  (Read 2800 times)
uptheante
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June 10, 2011, 11:55:29 AM
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Hi everyone, with all the mining of Bitcoin, I have some questions about how Bitcoin can be converted to USD with the least % of transaction costs.
I found some prepaid travel cards, such as: FairFx and Travelex Cash Passport which have 0% load fee. This seems viable, so:

The question is: How to transfer the USD in my Mt Gox account to these prepaid cards (in USD) with the least transaction costs?

So far Mt Gox offers these cash-out options: Dwolla, Liberty Reserve, USD to Euro (SEPA).
Which option shd I choose? If I choose Dwolla, how do I top up Fairfx (for example) using Dwolla?
If I choose LR, then how can I top up Fairfx using LR?

Wld appreciate any thoughts on this matter, since a real exchange is required for Bitcoin to gain widespread acceptance.
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Stephen Gornick
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June 11, 2011, 12:04:44 AM
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Hi everyone, with all the mining of Bitcoin, I have some questions about how Bitcoin can be converted to USD with the least % of transaction costs.

Withdrawal of MtGox USD to Dwolla is the least expensive, ... $0.25 per transaction.

I found some prepaid travel cards, such as: FairFx and Travelex Cash Passport which have 0% load fee. This seems viable, so:

Mt. Gox has said it is looking into offering this though there are no details on that yet.  FairFX is for UK customers.   If you are from the U.K, perhaps selling your Bitcoins on an exchange for GBPs and then transferring those GBPs to FairfX is one method.
  - http://en.bitcoin.it/wiki/Britcoin
  - http://en.bitcoin.it/wiki/BitMarket.eu

The question is: How to transfer the USD in my Mt Gox account to these prepaid cards (in USD) with the least transaction costs?

Oh, ... I see.  You specifically mention a USD card.  Ok, then there are a number of methods to cash out bitcoins:
 - http://en.bitcoin.it/wiki/Selling_bitcoins#Small_amounts
  
including:
 - http://en.bitcoin.it/wiki/Bitcoin_Morpheus (reloadable debit cards)
 - http://en.bitcoin.it/wiki/Bitcoin_2_Credit_Card (Virtual VISA)
 - http://en.bitcoin.it/wiki/Bitcoin_Cashout  (VISA)
 - http://en.bitcoin.it/wiki/Bitcoin_Cashout (Vanilla VISA)
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