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Author Topic: How Do You Cashout BitCoins?  (Read 3001 times)
crzy
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October 20, 2017, 10:23:21 PM
 #21

Hello, i'm kind of new into crypto currency, I am currently trading on few exchanges. But i noticed all of the exchanges use bitcoin to deposit and withdraw, also no matter what coin you trade use bitcoins. So when you decide to withdraw your bitcoin and convert to USD, how do you go it? I don't see any option in any exchange, which is very weird.

Well we can easily convert btc into fiat thru our wallet. We havea nice bitcoin wallet here in our country which you can use to transfer fund easily, pay bills online and specially convert btc easily anytime, anywhere.
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ahmedjamal1998
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October 20, 2017, 10:31:57 PM
 #22

Since you're talking about selling bitcoins when trading and on exchanges, then you surely don't need to totally cashout to fiat.

On each of the exchanges that you're referring to, you'll find a coin called USDT. This coin has a value of $1. And it can be traded with bitcoins. Since it has a stable price, most traders use it to cash in and out of bitcoins.
For example, right now the price of bitcoins hit $6000 which is the highest it's ever been. What did I do ? I went in and sold all my btc for usdt.

This is basically exactly the same as selling it for fiat BUT you still have it in a crypto form which means it's so easy to buy in btc again if its price drops once again. Check the exchange you're using and you'll find a BTC/USDT pair.

If you want to totally cash out, I suggest ignoring all online payment processors like paypal or whatever as they can be reversed and they aren't the safest option and I don't with anything except the safe. You should find a trader in your local town and finish the deal by cash hand to hand. Other than that, I won't go for it.
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October 20, 2017, 10:41:33 PM
 #23

Hi! Here in Philippines we have a nice bitcoin wallet that you are able to convert your bitcoin to Php. easily and deposite it to your bank account that are accepting bitcoin.

I'm new here in world of cryptocurrency and I use coins.ph wallet to stored bitcoin and to pay bills and cashout to convert bitcoin to piat money easily. I just send my bitcoin to my bank account so its easy to withdrawn using ATM card.








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October 20, 2017, 11:08:20 PM
 #24

First, i try to save the maximum possible of coins, then i contact one of my friends who need to buy euros, then o convert the bitcoin to euro then i send the sum through neteller. If the operation is made correctly, i take my money hand to hand.
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October 20, 2017, 11:17:55 PM
 #25

Hi! Here in Philippines we have a nice bitcoin wallet that you are able to convert your bitcoin to Php. easily and deposite it to your bank account that are accepting bitcoin.

I'm new here in world of cryptocurrency and I use coins.ph wallet to stored bitcoin and to pay bills and cashout to convert bitcoin to piat money easily. I just send my bitcoin to my bank account so its easy to withdrawn using ATM card.


Hellow were thesame country here I also used coins.ph wallet it easy to convert php money your bitcoin. I also new here in bitcoin society wich is cryptocurrency based.
After we converted the bitcoin to our local currency we go to the bank, we transact by using ATM machine without using ATM card.





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October 21, 2017, 01:30:29 AM
 #26

Coinbase is where it's at, you just have to be fine with going through the KYC and other sort of government sanctioned regulations where you're going to have to give up some of your personal information so there is privacy concerns with that. I know that others have other methods such as using Paxful, Local Bitcoins and so on and so forth but I'd rather have issues with privacy rather then pay disgusting fees that are just going to take SO MUCH MONEY.

COINBASE FTW!
First we must register your bitcoin wallet address.some sites accepting online transaction. If you buy some product. We should pay bitcoin. Another way is localBitcoins and BitQuick are easy to sell a bitcoin in online. But we only decide to sell a bitcoin. localBitcoins schedule the rate of Bitcoin. This rate is reasonable to sell a bitcoin. We should accept that and it will directly deposited in bank account.

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October 21, 2017, 02:25:33 AM
 #27

Well im using coins.ph to cashout my bitcoin to money.
Actually it is easy to use coins.ph and early to receive your money.

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October 21, 2017, 03:48:06 AM
 #28

With the use of our local bitcoin wallet app, it allows us to convert our bitcoin into local currency. The app has local exchange partners, they allow us to get the cash through door to door delivery, cash pick up or bank transfer. It was made easy because you can get the money in the nearest pawnshop available. There will be little amount of transaction fee, but its not too bad for a fast transaction.
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October 21, 2017, 03:55:07 AM
 #29

I use a trusted exchanger that exists, although the rate is often different from the latest price but I'm happy because the transaction is done in seconds and money can we receive in the bank account.

-----yes
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October 21, 2017, 03:58:50 AM
 #30

Hello, i'm kind of new into crypto currency, I am currently trading on few exchanges. But i noticed all of the exchanges use bitcoin to deposit and withdraw, also no matter what coin you trade use bitcoins. So when you decide to withdraw your bitcoin and convert to USD, how do you go it? I don't see any option in any exchange, which is very weird.
With the help of our local bitcoin wallet application, it allows people to convert their bitcoin into local currency or physical money. The application or specifically the coins.ph wallet has a local exchange partners then they allow people to get the cash through cash pick up or in a bank transfer or remittance center. It was made easy to get the money in the nearest pawnshop available.
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October 21, 2017, 04:04:34 AM
 #31

Here in India we have two big wallets zebpay and unocoin. One can easily get direct bank withdrawls after selling your bitcoins on these platforms. What is more interesting is that these wallets have a bit higher price of bitcoin that it is in market. So its quite profitable too.
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October 21, 2017, 04:07:18 AM
 #32

The quickest and most painless method is via a bitcoin/eth denominated (I use the Shift card, courtesy of Coinbase). You can withdraw up to 300 USD equivalent a day, but if you use cashback, you can use the card's 1000 USD daily limit instead as cash. This is a PITA; you will visit at least 4 or 5 stores minimum to complete this task. So for bigger money, you are best off using an exchange that allow direct deposit to fiat (most real ones) or use LBC. LBC is cool up to the reporting requirements; after that, you will have to explain to someone what the hell you are doing with all that cash;)
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October 21, 2017, 04:24:26 AM
 #33

Some exchanges don't have the option to sell your coins for $,£,€
In some exchanges such as Kraken, Bitstamp, etc people can sell their bitcoins (of course) for dollars, euros, etc and then get the money transferred to their bank account quite easily.
In our country in which bitcoin is not so popular and many do not know yet about bitcoin, there is still sites that can transact bitcoins, there you can purchase and receive and send bitcoins and that is through coins.ph. This site can receive and send bitcoins and then there you can pay bills and send money to your love ones.

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October 21, 2017, 04:27:15 AM
 #34

In my country we cash out bitcoin through our wallet which we can encash through banks or the famous seven eleven  Wink
I personally I perfer not to encash my bitcoin I am investing it with bitcon also and checking my BTC from time to time and bitcon dont fail me because my bitcoin is increasing everytime I check it. That why I dont cashout my BTC,it is really my investment for my future.

But in case of emergecy it is very easy here to encash your bitcoin through banks.

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leonix007
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October 21, 2017, 04:58:24 AM
 #35

Hello, i'm kind of new into crypto currency, I am currently trading on few exchanges. But i noticed all of the exchanges use bitcoin to deposit and withdraw, also no matter what coin you trade use bitcoins. So when you decide to withdraw your bitcoin and convert to USD, how do you go it? I don't see any option in any exchange, which is very weird.

Weird, how did you do BTC deposits for trading without going to local exchange? anyways, saw your sig, Find any local exchange that accepts bitcoin, it varies for each location and country you live, just withdraw BTC from trading exchanges going to local exchange.

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October 21, 2017, 05:03:31 AM
 #36

You can cashout through services like bitwala and bitpanda, wallets like Xapo, Bitcoin ATM and many exchangers, all depending on your resident. But first do a research of taxes on Bitcoin in your country.

   

 
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October 21, 2017, 08:10:46 AM
 #37

if you want to sale your coins, there are a lot of exchanges where you can sale them and withdraw USD. but you should hold on them - Bitcoin is a good investment.
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October 21, 2017, 08:20:25 AM
 #38

I cash out bitcoins from a site called local bitcoins where you have to send bitcoins tto the localbitcoins wallet of yours and you need to sell there in the market place.
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October 21, 2017, 08:23:04 AM
 #39

Hello, i'm kind of new into crypto currency, I am currently trading on few exchanges. But i noticed all of the exchanges use bitcoin to deposit and withdraw, also no matter what coin you trade use bitcoins. So when you decide to withdraw your bitcoin and convert to USD, how do you go it? I don't see any option in any exchange, which is very weird.

Weird, how did you do BTC deposits for trading without going to local exchange? anyways, saw your sig, Find any local exchange that accepts bitcoin, it varies for each location and country you live, just withdraw BTC from trading exchanges going to local exchange.



You need to transfer the bitcoin from your default wallet to exchange wallet. Some of the wallet like localbitcoins.com expects the deposit fees to transfer the bitcoin to their site. That is what I mean here. If expects the bitcoin to be changed as a fiat currency you need to the exchange site or exchanger you know can give a fiat for your bitcoins. Traders will set the trading value according to their profit range.

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October 21, 2017, 08:36:51 AM
 #40

It depends on what wallet application coinbase or website that you are using some of them will support to cash out to fiat like in the Philippines the application is called coinsph that can easily convert btc to php fiat and choose some choices to pick up your money, i hope some of the applications like this can be implement to make the convenience in btc transaction more easier than transferring it to another exchange that take some time and satoshi.

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