What is the best way to change bitcoin into cash???

[kira4light]

I have some bitcoins and now I want to change them into cash or money in my bank account. I located in US and I don't mind if it takes 2 or 3 weeks. I want to know in which way you don't have to pay ridiculously high fees.

I tried to use MtGox to transfer money to BOA, but both ends charge very high fees:
On MtGox side, since I have a US bank, I have to do 'international transfer', which I heard charges ~$40?
On BOA side, every international transfer charges $16 dollars.

So any suggestions on minimizing the fee, both on the ex-change side and the bank side? Thanks!

Or is there any smarter way such that you don't have to pay any fee? Again I don't care if it takes a long time.

[Growthh]

1.sell them at mtgox.
2.sell them at btc-e.
3.sell tem at bitstamp.
4.sell them at bitcoin.de

[Kiwi7]

You can sell BTC on http://coingator.com. I haven't tried yet, however I've heard positive feedback about this site. They will get your money to PayPal and you can withdraw it to your bank account. The costs will be much lower.

[kira4light]

1.sell them at mtgox.
2.sell them at btc-e.
3.sell tem at bitstamp.
4.sell them at bitcoin.de

I know how to sell them. But the question is how to transfer it to your local bank account with minimum fee?

[spaced]

You can sell BTC on http://coingator.com. I haven't tried yet, however I've heard positive feedback about this site. They will get your money to PayPal and you can withdraw it to your bank account. The costs will be much lower.

much lower? even with all the PayPal fees? What rate do the exchanges usually charge?

[Growthh]

1.sell them at mtgox.
2.sell them at btc-e.
3.sell tem at bitstamp.
4.sell them at bitcoin.de

I know how to sell them. But the question is how to transfer it to your local bank account with minimum fee?

where do you live?
wich country?

[ruletheworld]

I have some bitcoins and now I want to change them into cash or money in my bank account. I located in US and I don't mind if it takes 2 or 3 weeks. I want to know in which way you don't have to pay ridiculously high fees.

I tried to use MtGox to transfer money to BOA, but both ends charge very high fees:
On MtGox side, since I have a US bank, I have to do 'international transfer', which I heard charges ~$40?
On BOA side, every international transfer charges $16 dollars.

So any suggestions on minimizing the fee, both on the ex-change side and the bank side? Thanks!

Or is there any smarter way such that you don't have to pay any fee? Again I don't care if it takes a long time.

Coinbase is pretty decent for US bank transfers. Otherwise, just check out localbitcoins and make an in-person transfer.

[DannyHamilton]

Definitely look into localbitcoins.com.

Where are you located?  If you are anywhere near Chicago, I might be willing to meet up with you and give you cash for the bitcoins.

If you aren't near Chicago, I may be willing to send you cash in the mail (or a U.S. postal money order that you can cash at most banks and any U.S. post office) in exchange for you sending me the bitcoins.

Any of those methods is likely to be faster and possibly cheaper than trying to exchange at MtGox and then withdraw the cash.

[randrace]

I have some bitcoins and now I want to change them into cash or money in my bank account. I located in US and I don't mind if it takes 2 or 3 weeks. I want to know in which way you don't have to pay ridiculously high fees.

I tried to use MtGox to transfer money to BOA, but both ends charge very high fees:
On MtGox side, since I have a US bank, I have to do 'international transfer', which I heard charges ~$40?
On BOA side, every international transfer charges $16 dollars.

So any suggestions on minimizing the fee, both on the ex-change side and the bank side? Thanks!

Or is there any smarter way such that you don't have to pay any fee? Again I don't care if it takes a long time.

Coinbase is pretty decent for US bank transfers. Otherwise, just check out localbitcoins and make an in-person transfer.

I also use Coinbase. Once you link up your bank account, it's very cheap to sell BTC.

[BitCoiner2012]

Privately sell.

[toddtervy]

1.sell them at mtgox.
2.sell them at btc-e.
3.sell tem at bitstamp.
4.sell them at bitcoin.de

I've heard bad things about Mt-gox.  Bitstamp is a good site haven't attempted to sell any BTC there yet.  Btc-e seems alright, but it's hard to fund it.

[kira4light]

Definitely look into localbitcoins.com.

Where are you located?  If you are anywhere near Chicago, I might be willing to meet up with you and give you cash for the bitcoins.

If you aren't near Chicago, I may be willing to send you cash in the mail (or a U.S. postal money order that you can cash at most banks and any U.S. post office) in exchange for you sending me the bitcoins.

Any of those methods is likely to be faster and possibly cheaper than trying to exchange at MtGox and then withdraw the cash.

Not in Chicago, but will keep in touch. You do escrow? Do you have a site that shows more details like exchange rate, etc?

[Dps23]

I have some bitcoins and now I want to change them into cash or money in my bank account. I located in US and I don't mind if it takes 2 or 3 weeks. I want to know in which way you don't have to pay ridiculously high fees.

I tried to use MtGox to transfer money to BOA, but both ends charge very high fees:
On MtGox side, since I have a US bank, I have to do 'international transfer', which I heard charges ~$40?
On BOA side, every international transfer charges $16 dollars.

So any suggestions on minimizing the fee, both on the ex-change side and the bank side? Thanks!

Or is there any smarter way such that you don't have to pay any fee? Again I don't care if it takes a long time.

thats why we use cryptocoin my dear
banksters rip you off every penny if you transfer $100 you pay $50 on fees to banksters pocket.
I dont sell any BTC and even if I would sell than I would change it into other coins. it is not time to cash coins.

[DannyHamilton]

Definitely look into localbitcoins.com.

Where are you located?  If you are anywhere near Chicago, I might be willing to meet up with you and give you cash for the bitcoins.

If you aren't near Chicago, I may be willing to send you cash in the mail (or a U.S. postal money order that you can cash at most banks and any U.S. post office) in exchange for you sending me the bitcoins.

Any of those methods is likely to be faster and possibly cheaper than trying to exchange at MtGox and then withdraw the cash.

Not in Chicago, but will keep in touch. You do escrow? Do you have a site that shows more details like exchange rate, etc?

Yes, I've held escrow for several transactions here at bitcointalk.org.

As for my exchange rate when purchasing bitcons, my typical ad can be seen at localbitcoins.com here:
https://localbitcoins.com/ad/7839

Depending on how many bitcoins you are trying to change, what payment methods you are willing to accept, how many times we've engaged in transactions in the past, and how much of a hurry I am in to get the bitcoins, I'm usually willing to negotiate the terms of the exchange a bit.