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Author Topic: What is the best way to go in and out of BTC without going throught fiat?  (Read 528 times)
manselr
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February 27, 2017, 06:05:00 PM
 #1

For example, you want to sell a small amount of BTC, then wait for a dip, buy back more BTC, and this without having to give all of your personal details to an exchange in order to deal with fiat.

So im looking at 2 options:

1) BTC to USDT
2) BTC to high volume alt (ETH?)

That's all. What else is there?

It's just for small and quick movements, so I think I will not bother with even getting the USDT or alt out of the exchange, even tho I will be paranoid for the couple of days that im out of BTC tho, holding it converted in something else in Poloniex.... so i would like to have the ability to withdraw locally too

anyway I would like to know how to do this.
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February 27, 2017, 06:11:45 PM
 #2

BTC to USDT is the only way to go.  Why don't you like that option?

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February 27, 2017, 09:18:41 PM
 #3


2) BTC to high volume alt (ETH?)


This ^^^

And you could do it via Coinbase pretty easily, although I'm not sure what time restrictions they have. But ETH has been so stable it would serve as a decent control, a safe place to be while you're waiting out your next opportunity with BTC.\


Where can I find more information on USDT?

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February 28, 2017, 12:53:52 AM
 #4


2) BTC to high volume alt (ETH?)


This ^^^

And you could do it via Coinbase pretty easily, although I'm not sure what time restrictions they have. But ETH has been so stable it would serve as a decent control, a safe place to be while you're waiting out your next opportunity with BTC.\


Where can I find more information on USDT?

USDT is the only way to go.  About $5Million a day in volume recently.  
https://tether.to/
http://coinmarketcap.com/assets/tether/

If you get an account at Poloniex, you can trade in and out of $$$ all day long very fast and easy.  Sit on USDT during the crashes, and rebuy after the trough.  Works like a charm.  In Tether, $1 is always $1.  No exchange rate risk.  With high vol alt on ETH, you expose yourself to some goofy coin having a big crash.  Tether doesn't crash.  $1 is always $1.

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February 28, 2017, 12:59:55 AM
 #5

No need for giving personal details, you can always trade bitcoin for fiat in any exchange site but you can't withdraw the fiat until you register with full personal details, so just do the normal trades if you don't want to withdraw fiat.
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February 28, 2017, 01:03:19 AM
 #6

BTC to USDT is the only way to go.  Why don't you like that option?
As said USD is the only way to go, other than this you could go up with altcoins. Else just deposit as an investment or you may give a try to PayPal. But due to PayPal's policy several users have lost their bitcoin.

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February 28, 2017, 01:13:19 AM
 #7


2) BTC to high volume alt (ETH?)


This ^^^

And you could do it via Coinbase pretty easily, although I'm not sure what time restrictions they have. But ETH has been so stable it would serve as a decent control, a safe place to be while you're waiting out your next opportunity with BTC.\


Where can I find more information on USDT?

USDT is the only way to go.  About $5Million a day in volume recently.  
https://tether.to/
http://coinmarketcap.com/assets/tether/

If you get an account at Poloniex, you can trade in and out of $$$ all day long very fast and easy.  Sit on USDT during the crashes, and rebuy after the trough.  Works like a charm.  In Tether, $1 is always $1.  No exchange rate risk.  With high vol alt on ETH, you expose yourself to some goofy coin having a big crash.  Tether doesn't crash.  $1 is always $1.
Since you say that 1 Tether is always having a face value of $1, can you also request to cash out 100 Tether from an exchange that will then pay you out in an equal amount of dollars?

Another thing ~ if you deposit Tether on an exchange supporting this token, will you ten still be subject to the exchange's verification policy since it basically has not much to do with fiat in an official way?

manselr
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February 28, 2017, 01:13:46 PM
 #8

BTC to USDT is the only way to go.  Why don't you like that option?

Indeed it seems like the best option, but I was considering withdrawing from the exchange and holding in a local wallet to not be expossed in the exchange while I wait for the right price to buy BTC back.

Can I hold USDT locally so in case Poloniex goes MtGox I don't lose the money?
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February 28, 2017, 02:34:04 PM
 #9

for USDT you either have to trade on bitfinex or poloniex and they both ask you for personal information to sign up! there is also bittrex  that has USDT and they haven't asked me for any personal information apart from my Email so far but honestly i have never checked it out to see if it has enough volume or not.

you may also want to consider some other places such as btc-e that don't want any personal information

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wintermeasures
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February 28, 2017, 02:35:53 PM
 #10

For example, you want to sell a small amount of BTC, then wait for a dip, buy back more BTC, and this without having to give all of your personal details to an exchange in order to deal with fiat.

So im looking at 2 options:

1) BTC to USDT
2) BTC to high volume alt (ETH?)

That's all. What else is there?

It's just for small and quick movements, so I think I will not bother with even getting the USDT or alt out of the exchange, even tho I will be paranoid for the couple of days that im out of BTC tho, holding it converted in something else in Poloniex.... so i would like to have the ability to withdraw locally too

anyway I would like to know how to do this.
No If you want to Go in and out to Bitcoin then you need to deal with the Fiat  but there is only one way with which you can go in of Bitcoin without dealing with Fiat then you can start earning Bitcoin online to get in Bitcoin but For Going out of Bitcoin then you need to Deal with Fiat........
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