How do you cash out...

[Lexters]

Hi all,
Was wondering just wondering as Ive not actually thought about this before is how do you cash out. If I want to turn my alt coins into cash to spend on the latest cars what's the quickest, cheapest method?
Im in for the long haul though!!

Be lucky
Lex

[blue_id69]

Exchange it dirrectly to fiat is possible, if not exchange it to btc first. Some market support local bank, use that market. You can search it at google based on your location, or simply register to localbitcoins

[777asianinvasian]

For most coins you will have to convert them to BTC and then in turn make that BTC into fiat money. You probably need to use several exchanges for this process the best altcoin exchanges for trading your coins are Binance, Bittrex, and Poloniex. After you get it into BTC you can visit websites like Bitfinex, Gemini, BitStamp and more to turn your BTC into fiat. From there I believe you cash out to your bank account (although I have never done so myself yet) and voila you can buy your latest car!

[hadveach]

yes, I used to do that, I used to use bittrex, delta and hitbtc. then i convert to BTC. after that I immediately make a transaction and exchange it to fiat.

[OLDARH]

I have never taken a coin to the Fiat. And I never regretted it, because the Crypto currency is growing and growing in price.

[rezius]

How did people cash out pre coinbase, bittrex, bitstamp days?

Also does anyones bank ever say anything if it's multiple transactions over 10k?

[EinaiOraCoinDev]

Bittrex or bitstamp? Of course not , i move all my money to localbitcoins and then i withdraw my money on cash with another guy.

This makes me do not have to spend 100$ worth of fees and i do it all quickly and i avoid the banks.

[ralle14]

The fastest method for me in cashing out altcoins is by using shapeshift so I could convert it to bitcoin and they'll send it to my address that has a pending cash out order once the transaction confirms i'll receive my fiat in my bank account or i'll pick it up from a remittance center. The cheapness depends on which exchange you'll use because of the maker/taker fee.

[cynical]

you cannot use bittrex.
use bitstamp or coinbase to liquidate bitcoin to fiat and then transfer to a bank account.
you could also try https://bisq.network its a P2P transfer network.

[mayidid]

Coinbase seems to be pretty secure and I have used them in the past to buy Bitcoins from my bank account and to cash out to my bank account. The drawback is that you have to provide identification and link your bank accounts with them to make this work. If you’re willing to do this, it should be secure at least with my experience.

Other options are using localbitcoins or just making a cash transaction with a friend if you can find one that wants to buy some Bitcoins. That way you can avoid fees and taxes.

[Pantoflascrypt017]

Depends what altoins you're holding and what fiat currency you use? litecoin and vertcoin can be exchanged to euros pretty easily i know and surely there are many others like monero maybe.

[CryptoCurr]

I used bitcoin exchanges like Kraken, BitPanda, or CoinBase to cash out my bitcoins.

[DPrillio]

Bittrex or bitstamp? Of course not , i move all my money to localbitcoins and then i withdraw my money on cash with another guy.

This makes me do not have to spend 100$ worth of fees and i do it all quickly and i avoid the banks.

Yes, we have all different strategy on how to cash out depending on the urgency of needs and as for me i always used banks if i am not in hurry because it will directly deposit on my debit account and if time that i need to get the cash urgently then i will prefer to use cash remittance.

[Ayiranorea]

I prefer localbitcoins for the purpose of cashing out what I have in the wallet. This provides the ease with the opportunity to make a trade upon our convenience with any particular trader that have got listed. Also it is the one which is listed among the five licensed trading platform.

[marketcoin2]

How did people cash out pre coinbase, bittrex, bitstamp days?

Also does anyones bank ever say anything if it's multiple transactions over 10k?

you need to link your bank account, and then you cash out!
Banks are obliged to report transactions about 10K to the authorities (IRS, ...)!
If you have hold the coins for more than a year, it will be taxed as a capital gain, otherwise as income tax!

[codebread]

Hi all,
Was wondering just wondering as Ive not actually thought about this before is how do you cash out. If I want to turn my alt coins into cash to spend on the latest cars what's the quickest, cheapest method?
Im in for the long haul though!!

Be lucky
Lex

Try making cashout from trusted exchanges, I think SEPA transfers are avaialble in afew.

[Nilupulie]

I used exchanges like BTC and Coinspot to cash out. It is depend on the country you located & just do google search and find suitable exchanges to cash out purposes. The reason is some exchanges are not supporting to some countries. It is depend on the where you locate and the bank you involve. Hope this works for you

[Lexters]

Thanks for that, I don't intend to cash out anytime soon but in the long run it's nice to know you can get cash when needed. I'm UK and have signed up with coinbase, Kraken and a few others.
I'm sure as time goes on it will become even easier.

[tabas]

Hi all,
Was wondering just wondering as Ive not actually thought about this before is how do you cash out. If I want to turn my alt coins into cash to spend on the latest cars what's the quickest, cheapest method?
Im in for the long haul though!!

Be lucky
Lex

I'm pretty sure that there are many local exchanges that are existing and most of us are cashing out through that way and in what country do you live? You can also try convert those alt coins first into bitcoin and find your best deal at LBC.

[Manc89]

Exchange it dirrectly to fiat is possible, if not exchange it to btc first. Some market support local bank, use that market. You can search it at google based on your location, or simply register to localbitcoins

Many exchanger can cash out to local fiat money directly.
I actually cash out in my local exchanger in  local currency. So it easier than.