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Author Topic: how to turn your blockchain balance into real money?  (Read 1965 times)
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December 19, 2017, 11:59:08 PM
 #1

I don't know how to cashout? I am from Romania, what are the possibilities to cashout a large sum of money at once?
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January 08, 2018, 05:13:32 PM
 #2

There is no blockchain balance. Blockchain is a technology system, not related to economy. Bitcoin is a payment made to promote blockchain technology. You can convert
Bitcoin to cash on exchange through the exchange, you can find a seller from a country you are on https://localbitcoins.com.



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akamit
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January 08, 2018, 06:17:33 PM
 #3

I don't know how to cashout? I am from Romania, what are the possibilities to cashout a large sum of money at once?

The best and fast way would be localbitcoins as Granxis recommended.
Here is the list of traders who deals in your local currency (List of Romanian traders)

But I would like to tell you one thing, just never release bitcoin upfront without getting payment.
Telling this from my practical experience which happened few days ago.

I opened a trade at localbitcoins (bitcoin to moneygram) to pick up the cash from my location. So after opening the trade the trader was chatting with me very friendly way and then suddenly telling me to release the bitcoin and then he will send payment info. And then when I denied to do so, he was calling me scammer. Later I just told him what is the meaning of an escrow? And I also told the trader that if anyone read our conversation then everyone will be able to identify who is scammer. After spoiling my 2.5hrs he canceled the trade from his end. Otherwise I had to wait 5-8 hours to get my fund from escrow. Though I also contacted support for the help.

You should also not make a trade of large sum at once for your own safety.
Choose 2-3 traders and also divide the total money into many parts and do the trade one by one.

Just be safe!
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January 08, 2018, 06:53:13 PM
 #4

There is no blockchain balance. Blockchain is a technology system, not related to economy. Bitcoin is a payment made to promote blockchain technology. You can convert
Bitcoin to cash on exchange through the exchange, you can find a seller from a country you are on https://localbitcoins.com.
That is a good enlightenment. You've really thrown more light into it.
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January 08, 2018, 09:20:16 PM
 #5

There is no blockchain balance. Blockchain is a technology system, not related to economy. Bitcoin is a payment made to promote blockchain technology. You can convert
Bitcoin to cash on exchange through the exchange, you can find a seller from a country you are on https://localbitcoins.com.
Maybe he do mean blockchain.info wallet balance? but quiet confusing since he didnt mention about its a wallet or literal the blockchain thing thing. Lets assume this is a blockchain balance then you can easily make it turn into real money. Localbitcoins would be the place and also there are exchange that do easily make convertions that you can easily exchange your btc to local fiat then directly withdrawn to your bank.

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January 08, 2018, 09:22:51 PM
 #6

I'm assuming you mean blockchain.info, and if so, you just need to register on an exchange and verify your account. From there you can deposit your bitcoin and sell it for your local currency.  Wink

(However I recommend HODLing)
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January 09, 2018, 01:49:43 AM
 #7

I don't know how to cashout? I am from Romania, what are the possibilities to cashout a large sum of money at once?

1) It's not blockchain balance, it's your bitcoin balance. If you have the money stored on blockchain.info, it's still bitcoin, blockchain.info is just a site where you can store your Bitcoin.

2) If you want to cash out a large amount, you're best off using an exchange. However, the main issue with that is that you end up paying fees. If you can't do an exchange, maybe the currency exchange section on this forum will be of use to you.

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January 09, 2018, 06:30:43 AM
 #8

I don't know how to cashout? I am from Romania, what are the possibilities to cashout a large sum of money at once?

1) It's not blockchain balance, it's your bitcoin balance. If you have the money stored on blockchain.info, it's still bitcoin, blockchain.info is just a site where you can store your Bitcoin.

2) If you want to cash out a large amount, you're best off using an exchange. However, the main issue with that is that you end up paying fees. If you can't do an exchange, maybe the currency exchange section on this forum will be of use to you.

Yeah if he want to cash out he needs to transfer that amount to an exchange for example localbitcoins.com which also available in Romania.But the fee is considerable less in blockchain wallet when compared to coinbase or electrum.But he also have to pay deposit fee for depositing in localbitcoin wallet.If he don't want to pay extra amounts he can search for a trusted direct traders on here forum.But as a newbie he may caught get in the hands of scammer so it is better to go with the exchange so his money will be safe.

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January 09, 2018, 07:49:53 AM
 #9

There is no blockchain balance. Blockchain is a technology system, not related to economy. Bitcoin is a payment made to promote blockchain technology. You can convert
Bitcoin to cash on exchange through the exchange, you can find a seller from a country you are on https://localbitcoins.com.
You have a good idea about blockchain and bitcoin, I got more interesting knowledge. Looking forward to receiving more from you. The crypto market is flourishing and I think this is the best time to invest.

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January 09, 2018, 09:07:11 AM
 #10

I don't know how to cashout? I am from Romania, what are the possibilities to cashout a large sum of money at once?

Coinbase is good to cashout your bitcoins, first thing you need to do is make an account on coinbase. After that you send your bitcoins from blockchain into Coinbase wallet. You can do large transaction at coinbase, just verify your account. Actually I don't know is romanian can use coinbase or not, i hope yes.
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January 09, 2018, 12:14:04 PM
 #11

I don't know how to cashout? I am from Romania, what are the possibilities to cashout a large sum of money at once?

You can convert all of your blockchain balance into bitcoin then after that, you can convert your bitcoin into your own currency or Romania currency.

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January 09, 2018, 01:19:21 PM
 #12

As i can understand you have bitcoin balamce in blockchain.info wallet and want to exchange it with fiat money, right?  There are two ways you can do that, simply open a localbitcoins.com account and find trusted buyer residing within your locality. Secondly, you can create an account on coinbase and sell your bitcoins there for fiat currency. Choose one method  that you feel is easy to process


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January 09, 2018, 01:28:22 PM
 #13

As i can understand you have bitcoin balamce in blockchain.info wallet and want to exchange it with fiat money, right?  There are two ways you can do that, simply open a localbitcoins.com account and find trusted buyer residing within your locality. Secondly, you can create an account on coinbase and sell your bitcoins there for fiat currency. Choose one method  that you feel is easy to process

I could also recommend this option. Localbitcoins is one of the most convenient ways to cash out bitcoins and you can choose among different options.
But I wouldn't recommend cashing out large amount at once and at one bank account, especialy not in Romania, that could lead him into trouble. Better cash out smaller amounts and don't attract attention.
Other way could also be bitcoin ATM if there is any in the city you live.

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January 09, 2018, 04:23:20 PM
 #14

I think the main answer for that is you should transfer your fund in local bitcoin wallet to cashout your fund, blockchain is universal wallet but there is no option for cashing out our fund there, we can only used yhat wallet to hold our bitcoin.
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January 09, 2018, 05:32:39 PM
 #15

I think the main answer for that is you should transfer your fund in local bitcoin wallet to cashout your fund, blockchain is universal wallet but there is no option for cashing out our fund there, we can only used yhat wallet to hold our bitcoin.


There are many bitcoin to cash exchange wallet in the market in that localbitcoins is one of the good one for the long time. We need to find the more deposit value increases in lbc wallet also in the recent days.
You cannot able to use the blockchain wallet to exchange the fund if there is any online e-commerce or elsewhere. I am really sure then only bitcoin can be used.


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January 11, 2018, 07:56:15 AM
 #16

There is no blockchain balance. Blockchain is a technology system, not related to economy. Bitcoin is a payment made to promote blockchain technology. You can convert
Bitcoin to cash on exchange through the exchange, you can find a seller from a country you are on https://localbitcoins.com.
I’m also saying the same thing, if you want to withdraw your Bitcoin you should make use of localbitcoins to find an exchanger and then sell to them. But I think the op knows it is called Bitcoin, cause from what he said – how do I withdraw my blockchain balance–, so there’s no need to think he’s a dummy.

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January 11, 2018, 08:32:44 AM
 #17

There is no blockchain balance. Blockchain is a technology system, not related to economy. Bitcoin is a payment made to promote blockchain technology. You can convert
Bitcoin to cash on exchange through the exchange, you can find a seller from a country you are on https://localbitcoins.com.
I’m also saying the same thing, if you want to withdraw your Bitcoin you should make use of localbitcoins to find an exchanger and then sell to them. But I think the op knows it is called Bitcoin, cause from what he said – how do I withdraw my blockchain balance–, so there’s no need to think he’s a dummy.

Blockchain does not provide that service as of now. If you want to buy and sell you should have the wallet in the coinbase wallet. You can do this expectation with that wallet still they are not a trusted wallet by anyone since they does not shared the private key to us.
As you said there are some fiat exchange providers are there in the market, LBC is the one of the best service provider to exchange the bitcoin to cash. Almost for all the countries they give the service. If they takeaway the deposit fees as like before. It would be the best exchange.

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hugeblack
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January 11, 2018, 02:32:15 PM
 #18

I don't know how to cashout? I am from Romania, what are the possibilities to cashout a large sum of money at once?
best way to turn your wallet balance into real money is p2p sellers (use local board to find some).
also, try to use some online sellers sites like paxful,.........
if you want to cashout more than 10,000$ avoid using exchange sites.

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January 11, 2018, 06:58:14 PM
 #19

There is no blockchain balance. Blockchain is a technology system, not related to economy. Bitcoin is a payment made to promote blockchain technology. You can convert
Bitcoin to cash on exchange through the exchange, you can find a seller from a country you are on https://localbitcoins.com.
in blockchain you can only do shipping transactions and not to look for bitcoin funds. for that you need exchange and localbitcoins is one place to convert your btc into fiat. for you to make a quick disbursement. it is the best way to dilute your bitcoin fund. and the limit of transaction limit is usually set by a certain exchange

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January 11, 2018, 10:01:20 PM
 #20

There is no blockchain balance. Blockchain is a technology system, not related to economy. Bitcoin is a payment made to promote blockchain technology. You can convert
Bitcoin to cash on exchange through the exchange, you can find a seller from a country you are on https://localbitcoins.com.
Maybe he do mean blockchain.info wallet balance? but quiet confusing since he didnt mention about its a wallet or literal the blockchain thing thing. Lets assume this is a blockchain balance then you can easily make it turn into real money. Localbitcoins would be the place and also there are exchange that do easily make convertions that you can easily exchange your btc to local fiat then directly withdrawn to your bank.
Must be he was referring to cashing out from a wallet at blockchain.info,  but I should be expecting he ought to know far better about wallets - how to use them effectively and how to secure them, if truly he has got some big amount to cash out or how exactly did he come into the coins in the first place? I pray it isn't anything am thinking  Cool Huh Cool

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