What is the best,safest,cheapest way for an American to convert BTC and LTC back to USD and get the cash back into my hands?
The factors that matter for any cash-out decision are:
- Where are you located (country)? [You mention USD and America]
- How much are you looking to trade?
- What type of cash are you looking to receive?
- How soon do you need access to the proceeds?
- Is privacy important?
In the U.S., there are many methods where a bank account linked to Coinbase is a fairly quick and inexpensive method (1% fee):
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http://www.Coinbase.comNow, "cheapest" is relative to the exchange rate you can get. At this current moment there are more cash buyers on BitMe and BitFloor than there are sellers. So you can get a premium for selling on these exchanges. Both provide an ACH (bank transfer) withdrawal method. Camp BX is another exchange with good rates and there you can withdraw to Dwolla, and with a bank account linked to Dwolla you can withdraw from there to your bank account.
If you want cash in-hand, then LocalBitcoins is probably going to work best for you. You may need to sell at spot rate or below even to attract a buyer, depending on your local market:
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http://www.LocalBitcoins.comMany of the cash-out options are listed here:
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http://en.bitcoin.it/wiki/Selling_bitcoins
