How to convert to USD?

[21BTC]

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[DGulari]

I am a student and don't really have bank account and won't have one atleast for next 3 years but i do own 25 BTC by my 3 year hard work.It really stress me to see bitcoin rates fluctuate so much. Some people say to immediately sell after halving to secure profit but i won't be able to do so because i have no way nor intention of converting it into cash yet.Now my question is how can i convert them into usd temporory online when bitcoin rates are up say 1 btc = 1000 USD then i want to convert my 25 BTC to 25000 USD and when it goes down i will buy again.Basically,i don't want to convert it into cash. I see websites like btc-e.com,bitfinex etc but do they need verifications etc and any limit on trades? and is it wise to hold that much bitcoin in exchange sites? I don't want to end up being the person who just kept holding bitcoins even when the price got upto 1000 usd and keep it falling down.Please advice something  

This is very easy to do.  Not only that, it is very safe.  Not only that it is very cheap.  There is a crypto called Tether.  It is always $1.  No matter what happens to bitcoin's price - one Tether is one dollar.  Trade your bitcoins for tethers, and then trade them back later.  This locks in your value to USD anytime you like.

Now here comes the good part.  You don't need a bank, or an exchange, or anything.  The system is done on a fully automated DEX or distributed exchange.  What that means is there is no middleman to take service fees.  

Just fire up an Omni wallet https://www.omniwallet.org/, put your bitcoins in there, go to the DEX, trade for Tether.  Later, trade back again.  Totally easy and there are no humans involved to fuck it all up with fees and scams.  

Over $1 million of Tether are traded every day.  So lots of people are comfortable with it.  Besides, these is an actual real 1$ on deposit somewhere that backs every tether in existence.  It is an amazing system and it is designed to do exactly what you asked for.

[wintermeasures]

I am a student and don't really have bank account and won't have one atleast for next 3 years but i do own 25 BTC by my 3 year hard work.It really stress me to see bitcoin rates fluctuate so much. Some people say to immediately sell after halving to secure profit but i won't be able to do so because i have no way nor intention of converting it into cash yet.Now my question is how can i convert them into usd temporory online when bitcoin rates are up say 1 btc = 1000 USD then i want to convert my 25 BTC to 25000 USD and when it goes down i will buy again.Basically,i don't want to convert it into cash. I see websites like btc-e.com,bitfinex etc but do they need verifications etc and any limit on trades? and is it wise to hold that much bitcoin in exchange sites? I don't want to end up being the person who just kept holding bitcoins even when the price got upto 1000 usd and keep it falling down.Please advice something   

I recommend using the services of perfectmoney, we know that the perfect money is a service that is already trusted. and you right never save huge amounts of money in the wallet exchanger. for change to usd you can use changer.com, perfect money partner. Thank you

[OmegaStarScream]

It's not wise to store your bitcoins in an exchange or online wallet , at least not for the long term. I'd recommend holding them in Paper wallet or Desktop wallet at least (Electrum for example)

As for trading once Bitcoin reaches 1000$ then there is couple of options :

use an ATM : I'm not sure where you live and since those aren't available everywhere in the world, so It could be hard little bit.

Trading hand to hand : You can find people using LocalBitcoins.com or the "Currency exchange" in Bitcointalk to find people in your area and trade with them but this will take some time of course and the price could rise and fall in that time.

Alternative payment method : You can make a Paypal account however If you don't have 18 then It can get limited If you receive some big amounts of money so It's not recommended as well.


I'm not sure I understood well since you said you want to convert into 25000 USD then you said you don't want to convert to cash 

[Snorek]

First of all $1000 is not some mythical price limit of Bitcoin. I wouldn't sell at $1000 as I expect BTC will be a lot more expensive in the future.
Secondly if you are not in of money they why you want to touch your bitcoin stash at all? Be patient with it and wait, don't sell and don't invest, just wait.

[doanlang]

One easy method is using LocalBitcoins.com. List a Seller ad for cash Bank deposit. LBC will hold your BTC in escrow until you verify the deposit was made. People usually have the depositor upload an image of the deposit slip, but be careful as an image can be manipulated. One technique is having the person rip the deposit slip in half before photographing so it's easier to detect image manipulation. Note: be sure to use cash only, and have the person write something like 'buying at localbitcoins.com - no refund' on the slip to protect against scams.

If the uploaded deposit slip looks good, and you've verified the deposit was made to your account (online or by phone) then release the BTC. This process can be very quick. Buyers can receive coins in about 1 hour. All they need for deposit is account #, name, and state (or zip). I haven't tried large amounts, but I imagine you could do say $500-1000 at a time safely. This also works well for detecting counterfeit bills, which is hard, but banks are good at, and of course cash deposits can't be reversed.

If you're not in a hurry for the cash you could buy gold/silver from a reputable bitcoin accepting merchant (providentmetals.com seems ok). Once you have your gold/silver you can of course sell it at any coin shop for cash.

Last, of course you can use an exchange like Coinbase.com to link your bank account for buying/selling coins. Of course this involves a lot of identification, verification and time etc.

[skyway1]

it is a huge amount if you want to get this amount with safely i think you will must need to make your bank account ,
and then you can convert your BTC to Usd and then get it with safely .

[gentlemand]

If you're depositing Bitcoin then Bitfinex doesn't require verification. I'm not sure whether it does if you convert it to USD even if you're leaving the USD in there. Also as we've seen this week trusting them with your money may end up biting you.

You could do the same with btc-e which definitely doesn't verify but their support can be terrible.

There's coinapult on Mycelium which locks value in. Dunno if you can buy again or whether you need a bank account to do it.

[Divinespark]

I had never heard of tether.io before. Is there such a thing as a tether wallet? I guess you need to go to one of the large exchanges to turn BTC into Tether?

[bryant.coleman]

Most of the people replying to your post hasn't read it fully. You don't own a bank account, and yet you want to convert your BTC to USD (although temporarily) and want to convert the USD back to BTC when the exchange rates are stable. I'd suggest BTC-e. They don't have any verification, unlike the other exchanges such as Bitstamp and Kraken, and they have been around for almost 6 years now.

[holydarkness]

I am a student and don't really have bank account and won't have one atleast for next 3 years but i do own 25 BTC by my 3 year hard work.It really stress me to see bitcoin rates fluctuate so much. Some people say to immediately sell after halving to secure profit but i won't be able to do so because i have no way nor intention of converting it into cash yet.Now my question is how can i convert them into usd temporory online when bitcoin rates are up say 1 btc = 1000 USD then i want to convert my 25 BTC to 25000 USD and when it goes down i will buy again.Basically,i don't want to convert it into cash. I see websites like btc-e.com,bitfinex etc but do they need verifications etc and any limit on trades? and is it wise to hold that much bitcoin in exchange sites? I don't want to end up being the person who just kept holding bitcoins even when the price got upto 1000 usd and keep it falling down.Please advice something  

Almost similar to what Bryant.coleman said, since you don't plan to cash it out and only wanted to "rotate" them around from btc-usd-btc, I'd suggest a trading sites like yobit or others alike. IDK about btc-e since I never use them, but I think Yobit didn't require you to do verification if you don't plan to exchanging your btc into physical cash. CMIIW.

[21BTC]

It's not wise to store your bitcoins in an exchange or online wallet , at least not for the long term. I'd recommend holding them in Paper wallet or Desktop wallet at least (Electrum for example)

As for trading once Bitcoin reaches 1000$ then there is couple of options :

use an ATM : I'm not sure where you live and since those aren't available everywhere in the world, so It could be hard little bit.

Trading hand to hand : You can find people using LocalBitcoins.com or the "Currency exchange" in Bitcointalk to find people in your area and trade with them but this will take some time of course and the price could rise and fall in that time.

Alternative payment method : You can make a Paypal account however If you don't have 18 then It can get limited If you receive some big amounts of money so It's not recommended as well.


I'm not sure I understood well since you said you want to convert into 25000 USD then you said you don't want to convert to cash 

I meant i don't want to cash out but just hold into some wallet online in USD so that i can buy bitcoin again when price falls.Basically i need some usd wallet that can't be controlled by anyone else but me.

[helloeverybody]

It's not wise to store your bitcoins in an exchange or online wallet , at least not for the long term. I'd recommend holding them in Paper wallet or Desktop wallet at least (Electrum for example)

As for trading once Bitcoin reaches 1000$ then there is couple of options :

use an ATM : I'm not sure where you live and since those aren't available everywhere in the world, so It could be hard little bit.

Trading hand to hand : You can find people using LocalBitcoins.com or the "Currency exchange" in Bitcointalk to find people in your area and trade with them but this will take some time of course and the price could rise and fall in that time.

Alternative payment method : You can make a Paypal account however If you don't have 18 then It can get limited If you receive some big amounts of money so It's not recommended as well.


I'm not sure I understood well since you said you want to convert into 25000 USD then you said you don't want to convert to cash 

I meant i don't want to cash out but just hold into some wallet online in USD so that i can buy bitcoin again when price falls.Basically i need some usd wallet that can't be controlled by anyone else but me.

You could use one of the bitcoin exchanges and just not transfer it into your account but technically you still won't be in full control of them like you are with your own bitcoin wallet.

[Cyaren]

There are many many many different ways to convert btc to usd like for instance, circle.com does debit, paxful does like everything, coinbase,ATM's, and so many other websites transfer btc for USD pretty easy nowadays

[DGulari]

I had never heard of tether.io before. Is there such a thing as a tether wallet? I guess you need to go to one of the large exchanges to turn BTC into Tether?

Use OmniWallet to hold both bitcoin and tether (and a whole bunch of other stuff if you like).  Don't go to a large exchange, they charge money.  You can make this trade directly on the blockchain WITHOUT any agents!  Trade Bitcoin for tether all day long - it is pure blockchain transaction and no humans.  Cool eh? 

[DGulari]

There are many many many different ways to convert btc to usd like for instance, circle.com does debit, paxful does like everything, coinbase,ATM's, and so many other websites transfer btc for USD pretty easy nowadays

But all of these ways involve a human agent to handle the trade and they all charge fees.  You can do it for free as a Dex operation on the Omni platform. 

[bitcoineverything]

I am a student and don't really have bank account and won't have one atleast for next 3 years but i do own 25 BTC by my 3 year hard work.It really stress me to see bitcoin rates fluctuate so much. Some people say to immediately sell after halving to secure profit but i won't be able to do so because i have no way nor intention of converting it into cash yet.Now my question is how can i convert them into usd temporory online when bitcoin rates are up say 1 btc = 1000 USD then i want to convert my 25 BTC to 25000 USD and when it goes down i will buy again.Basically,i don't want to convert it into cash. I see websites like btc-e.com,bitfinex etc but do they need verifications etc and any limit on trades? and is it wise to hold that much bitcoin in exchange sites? I don't want to end up being the person who just kept holding bitcoins even when the price got upto 1000 usd and keep it falling down.Please advice something  

This is very easy to do.  Not only that, it is very safe.  Not only that it is very cheap.  There is a crypto called Tether.  It is always $1.  No matter what happens to bitcoin's price - one Tether is one dollar.  Trade your bitcoins for tethers, and then trade them back later.  This locks in your value to USD anytime you like.

Now here comes the good part.  You don't need a bank, or an exchange, or anything.  The system is done on a fully automated DEX or distributed exchange.  What that means is there is no middleman to take service fees.  

Just fire up an Omni wallet https://www.omniwallet.org/, put your bitcoins in there, go to the DEX, trade for Tether.  Later, trade back again.  Totally easy and there are no humans involved to fuck it all up with fees and scams.  

Over $1 million of Tether are traded every day.  So lots of people are comfortable with it.  Besides, these is an actual real 1$ on deposit somewhere that backs every tether in existence.  It is an amazing system and it is designed to do exactly what you asked for.

Wow! Really? I never heard of tether. This is awesome. I checked the website https://tether.to/ and it seems legit and safe. I will definitely try to use this with some of my funds to see if this is really legit.

[DGulari]

I am a student and don't really have bank account and won't have one atleast for next 3 years but i do own 25 BTC by my 3 year hard work.It really stress me to see bitcoin rates fluctuate so much. Some people say to immediately sell after halving to secure profit but i won't be able to do so because i have no way nor intention of converting it into cash yet.Now my question is how can i convert them into usd temporory online when bitcoin rates are up say 1 btc = 1000 USD then i want to convert my 25 BTC to 25000 USD and when it goes down i will buy again.Basically,i don't want to convert it into cash. I see websites like btc-e.com,bitfinex etc but do they need verifications etc and any limit on trades? and is it wise to hold that much bitcoin in exchange sites? I don't want to end up being the person who just kept holding bitcoins even when the price got upto 1000 usd and keep it falling down.Please advice something  

This is very easy to do.  Not only that, it is very safe.  Not only that it is very cheap.  There is a crypto called Tether.  It is always $1.  No matter what happens to bitcoin's price - one Tether is one dollar.  Trade your bitcoins for tethers, and then trade them back later.  This locks in your value to USD anytime you like.

Now here comes the good part.  You don't need a bank, or an exchange, or anything.  The system is done on a fully automated DEX or distributed exchange.  What that means is there is no middleman to take service fees.  

Just fire up an Omni wallet https://www.omniwallet.org/, put your bitcoins in there, go to the DEX, trade for Tether.  Later, trade back again.  Totally easy and there are no humans involved to fuck it all up with fees and scams.  

Over $1 million of Tether are traded every day.  So lots of people are comfortable with it.  Besides, these is an actual real 1$ on deposit somewhere that backs every tether in existence.  It is an amazing system and it is designed to do exactly what you asked for.

Wow! Really? I never heard of tether. This is awesome. I checked the website https://tether.to/ and it seems legit and safe. I will definitely try to use this with some of my funds

Its totally safe because there are no fucking people involved.  It is pure blockchain science.  It is 100% code.  It's been running for a long time now.  Quietly.

[DGulari]

There are many many many different ways to convert btc to usd like for instance, circle.com does debit, paxful does like everything, coinbase,ATM's, and so many other websites transfer btc for USD pretty easy nowadays

But all of these ways involve a human agent to handle the trade and they all charge fees.  You can do it for free as a Dex operation on the Omni platform.  

I can't trust they shitty looking site with 25 BTC.I need something popular and reliable,may be i am thinking with going with btc-e.com as they don't need verifications and deposit/withdraw of btc is also instant

Between $1 - $5 million trade on the Omni platform everyday.  For more than 2 years, been running like that.  Your 25 BTC is minuscule in comparison.

I can't trust they shitty looking site

Oh, you like the pretty websites?  Those are the scammers.  They spend all their time on UI.  Sites that aren't a scam spend all their time on the core and don't worry about pretty UI.

[Vikingr]

Try to use an exchanger where you can easily convert your coins to any currency, I will recommend for bitstamp as it is a licensed exchange and there you will not lose your money.