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Author Topic: How to withdraw crypto to fiat $ without painful absurd extreme "verifications"?  (Read 71 times)
zate
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January 04, 2018, 05:40:05 PM
 #1

This forum is absolutely full of hundreds of horror stories how large websites like poloniex and bitfinex ask
for so many "verifications" when you try to withdraw to fiat $, so that they often never release your money.

The process of withdrawing to your bank account to fiat $ is often extremely long, tedious, frustrating
and dishonest from the part of these large websites.

What are the solutions to these constant problems that clients encounter?

Thank you guys
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harizen
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January 04, 2018, 06:05:20 PM
 #2

This forum is absolutely full of hundreds of horror stories how large websites like poloniex and bitfinex ask
for so many "verifications" when you try to withdraw to fiat $, so that they often never release your money.

The process of withdrawing to your bank account to fiat $ is often extremely long, tedious, frustrating
and dishonest from the part of these large websites.

What are the solutions to these constant problems that clients encounter?

Thank you guys

You have to deal with it. Anonymous withdrawal transfer from crypto to fiat or bank can be associated with illegal activities so no way a centralized and legit exchanges will allow that. It's mandatory to comply with government regulations in order to operate legally without any problem. The solution here is, exchanges must upgrade their support system so that those people who wants to verified their accounts will not wait for long period of time before they are being verified. It's no hassle to submit documents but the waiting time is horrible before it approved.

If you still really want then search on your locals if you can do a direct trade on a person. It will sound hassle and I think only few doing that.

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January 04, 2018, 06:27:15 PM
 #3

Previously, everything happened very quickly and clearly. Today around cryptocurrency huge hype and exchanges are working at the limit of their capabilities. For this, unfortunately, you will have to wait longer for verification.

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January 04, 2018, 09:31:26 PM
 #4

If you want something like this, you're going to have to take a hit on the amount of money that you're going to get as no one is going to allow you to cash out 1:1 (minimal fees) without verifications. If you are to visit the exchange section here, or Paxful, or Local Bitcoins you'd see that you could do something like a bank cash transfer with someone -- a relatively non risky thing if your bank is fine with you getting a pretty high value transer-- with you paying something like 5 percent of the value of you cashing out.

Though this isn't going to be instant and it may not come all at once, you're going to have to sell your coins in batches for this.

Personally, I'd rather give up some of my privacy to sell my coins and such -- but that is on you as to what you want to do.




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starzou
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January 04, 2018, 09:37:47 PM
 #5

Well first don't go fiat through CoinBase. If you check the CoinBase subreddit, you will see that hundreds of people have been waiting for 1+ month to receive their money ($5K-$50K) and Coinbase DOES NOT provide any support whatsoever, unreachable by phone, unresponsive on reddit/over email etc. I wouldn't feel so good if i had $30,000 in the nature with no way to track it.

I think they are better options like Gemini in the US but any exchange gives US residents a very hard time.
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January 04, 2018, 09:51:43 PM
 #6

there are no solutions for this kind of problem because we need to verify ourself (to prevent the money laundering).
the only way to get away from this problem is by using Peer to Peer platform.
in there you do not need to waste your time for verification,
but the fees for every transaction is a bit higher compared to other absolutely.
lastly,buy or sell it directly to the users.
it is very easy and friendly but at the same time it is very risky because of scammer.

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zate
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January 07, 2018, 07:32:43 PM
 #7

What Peer to Peer platform do you recommend?
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January 07, 2018, 08:29:47 PM
 #8

Thank you for all people here who answers such needful and useful topics because many people have such kind of problems! I hope that in Belarus it will be total legal soon ( I heard that this month Belarus legalese mining with no taxes and a lot such nice things) and every day this situation can be improved and stable!! I hope so!!
sdjmlsdjgqkjgqmljg
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January 14, 2018, 08:09:45 PM
 #9

Maybe people should start to think what they can buy with their cryptocurrency instead of wining and crying about changing their currency into fiat.
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