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Author Topic: How Do You Cashout BitCoins?  (Read 3000 times)
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October 21, 2017, 12:16:39 PM
 #61

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.

Here in my country we have a wallet wherein when you need your bitcoins you just request and its automatically converts your bitcoin into our currency.  Through this wallet you can even diretly pay your bills and topup your phone.  This is the only wallet I used since it is trusted by many of us. 

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October 21, 2017, 12:23:13 PM
 #62

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.

Here in my country we have a wallet wherein when you need your bitcoins you just request and its automatically converts your bitcoin into our currency.  Through this wallet you can even diretly pay your bills and topup your phone.  This is the only wallet I used since it is trusted by many of us. 

Do you hold your bitcoins in an online wallet? That is not a wise thing to do, especially if you have substantial number of bitcoins. The biggest advantage of Bitcoin is its decentralized nature and the fact that you don't have to trust anybody with your money. You are undermining that by using an online wallet.


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October 21, 2017, 12:43:40 PM
 #63

As i know that some exchanges provide withdraw into fiat money like usd or euro.
But you have to verify your account first.

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October 21, 2017, 12:48:28 PM
 #64

Wow so many reply! Thank guys for your advice and recommendation. I use Bittrex for trading, i have verified, but i don't see any option where i can exchange btc to Usd.
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October 21, 2017, 01:19:51 PM
 #65

in my country if i want to exchange my bitcoin into local currencies i use local exchanger to exchange it so, i can contact personally the exchanger and say that i want to sell my bitcoin, the advantage you can ask them realtime, but disadvantage is its all manually that make feel complicated

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October 21, 2017, 01:29:01 PM
 #66

I do cashout via my wallet coins.ph and pick my money at Cebuana Lhuillier (you can choose where you wanna pick up yours. Security bank is better since you pay no fees for this)

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October 21, 2017, 01:31:08 PM
 #67

There are some ways you can follow to cash out bitcoin.
As i know we can cash out through local exchanger in each country. Second, change through marketplace. We can withdraw in marketplace in veryfied account.
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October 21, 2017, 01:39:19 PM
 #68

There are some ways you can follow to cash out bitcoin.
As i know we can cash out through local exchanger in each country. Second, change through marketplace. We can withdraw in marketplace in veryfied account.



I think before you cashout bitcoin you must register your wallet address because some sites are not accepting of what your coins that have right now, so you have to find some site that capable of cashouting your bitcoin into a paper money.



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October 21, 2017, 01:41:13 PM
 #69

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.

In the philippines we have this wallet called coins.ph in which we can encash through it but of course we need to trade ir first before we can convert it to our wallet and into cash. But in other counyry I have no idea in which way they cpuld convert it into cash. But I am sure there is the best way.


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October 21, 2017, 01:49:39 PM
 #70

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.

In the philippines we have this wallet called coins.ph in which we can encash through it but of course we need to trade ir first before we can convert it to our wallet and into cash. But in other counyry I have no idea in which way they cpuld convert it into cash. But I am sure there is the best way.

You can directly exchange the bitcoin into fiat cash by localbitcoins.com to your bank account instead of having the money to your online wallet. If you change amount pretty countable and according to your transaction limit what you are paying you no need to afford any money to any Government side.
Wallet is the worst option according to me. If you are fine to get the additional cost for the amount you are changing then we may consider it.

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October 21, 2017, 02:00:59 PM
 #71

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.

Its really an easy stuff to withdraw the coin, all you just have to do is to withdraw your bitcoins to localbitcoins.com and then you can find a buyer who's going to buy your coins from you. Should be all.

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October 21, 2017, 02:25:44 PM
 #72

There are several ways to cash out BTC to USD.

You can use coinbase for converting BTC to USD and withdraw USD to your bank account. You will need to submit identification for verification.

Localbitcoin is a peer to peer exchange where you can transact either by meet up or bank transfer.

A Bitcoin debit card allow you deposit BTC and spend fiat at stores. You can even withdraw fiat at ATM.

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October 21, 2017, 02:33:17 PM
 #73

i rarely "cash=out" from bitcoin. i am in it for the long haul and i even have been keeping my profit in bitcoin. meaning every time i make trade using bitcoin fluctuations or trade altcoins to make profit, i end up having more bitcoin not more fiat. and when bitcoin goes down i buy even more to have more bitcoin.

i believe in much higher prices which means selling at 5k, 6k, 10k is like losing a large amount of money.

but to answer your question, on those rare occasions i sell bitcoin, i sell it to those who want to buy. meaning p2p but not to those who buy and sell, but just are looking to buy so i can get a better deal.

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October 21, 2017, 02:37:13 PM
 #74

You could also see this question as "how do you cash-out cash?".

You could just buy something you were going to buy anyway. That gives you maximum profitability on your bitcoin and superior security online, while helping bitcoin retail adoption. If bitcoin is available broadly we may only rarely buy dollars. This will happen if retailers hear it from you.

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October 21, 2017, 02:38:34 PM
 #75

I'm using Bitstamp.
I withdraw earnings through bank transfer.
I can covert Bitcoin in USD or EUR (I use EUR).
I've read that coversion from BTC to USD is fees free.

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October 21, 2017, 02:40:36 PM
 #76

Couple exhcanges u can just send btc to and they send u USD/EUR or whatever currency ur bank uses
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October 21, 2017, 02:45:59 PM
 #77

There are some ways you can follow to cash out bitcoin.
As i know we can cash out through local exchanger in each country. Second, change through marketplace. We can withdraw in marketplace in veryfied account.



I think before you cashout bitcoin you must register your wallet address because some sites are not accepting of what your coins that have right now, so you have to find some site that capable of cashouting your bitcoin into a paper money.


All the popular exchanges like coinbase are accepting. Localbitcoins is also very good for people who cant use coinbase
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October 21, 2017, 02:49:45 PM
 #78

Best to send your Bitcoins from your exchange account to your wallet. Of course you need to look for a wallet which offers a Bitcoin to Fiat Currency conversion by many ways from depositing the fiat currency to Bank accounts to door-to-door deliveries. I don't know the exact wallet options you have because it varies from country to country but I am for sure you will have one if your country is not strict regarding about cryptocurrencies.

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Basmic
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October 21, 2017, 02:52:42 PM
 #79

In my country there are bitcoin ATMs. So I use the exchange on which it is possible to register my Bank card and easily withdraw dollars or euros from the account. Similarly, I can transfer money there. The status of bitcoin in my country is not yet defined so users of bitcoins do not track. Small transfers to accounts is also not controlled so I don't pay taxes on these amounts.
Sophiea
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October 21, 2017, 03:18:53 PM
 #80

I used Coins.pH to cash out may bitcoin using my BTC address. Cheesy
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