A good way to monetize Bitcoin in Europe: can you recommend one?

[fabioganga]

Hello,

I am trying to find a good way to be able to monetize Bitcoin, considering that XAPO, Cryptopay and Payeer have now discontinued their debit card program.

Before I forget, I DON'T WANT to use Coinbase at all, I have had very bad dealings with them.

Ideally, I would like to be able to transfer Bitcoin directly to a EUR bank account.

Can any of you please recommend a good and working system?

Thanks!

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[bitart]

It's not so easy these days, because as you have mentioned the bitcoin debit card issuer WaveCrest were forced to stop it's business because of violating VISA's rules. That made XAPO and the others to stop the card business and now we're waiting for them to find another card issuer company. If you had a XAPO card, I presume you were verified at XAPO, so why not just send out EUR from XAPO to your bank account? (If you didn't have XAPO card, then it's not an option, but you can search for it if XAPO allows EUR withdrawal to Europe or not, if yes, you can open an account).
You can also check localbitcoins as well, you can find buyers who will use bank transfer to buy bitcoin, but take extra care because of the scammers

[LeGaulois]

It's not so easy these days, because as you have mentioned the bitcoin debit card issuer WaveCrest were forced to stop it's business because of violating VISA's rules. That made XAPO and the others to stop the card business and now we're waiting for them to find another card issuer company. If you had a XAPO card, I presume you were verified at XAPO, so why not just send out EUR from XAPO to your bank account? (If you didn't have XAPO card, then it's not an option, but you can search for it if XAPO allows EUR withdrawal to Europe or not, if yes, you can open an account).
You can also check localbitcoins as well, you can find buyers who will use bank transfer to buy bitcoin, but take extra care because of the scammers

Not easy? How it's difficult? The Bitcoin prepaid cards are not the only solution, and there are better solutions than a card.
You are surely not a European citizen otherwise you would not say such thing.

@abioganga can easily join Kraken, sell his coins and request a SEPA transfer. If he requests the SEPA before 11.00 am his bank account will be credited the same day before 07.00 pm. Can't really make it faster and easier. I take Kraken as an example but it's the same with the majority having SEPA.

[Simple_Man]

Hello,

I am trying to find a good way to be able to monetize Bitcoin, considering that XAPO, Cryptopay and Payeer have now discontinued their debit card program.

Before I forget, I DON'T WANT to use Coinbase at all, I have had very bad dealings with them.

Ideally, I would like to be able to transfer Bitcoin directly to a EUR bank account.

Can any of you please recommend a good and working system?

Thanks!

I would recommend Localbitcoins website. It is a common platform for all traders. So you can sell your bitcoins for cash or direct bank deposit. Once you login, you will see buy and sell offers listed from your county. You just need to open trade and follow the rules mentioned in it. This website is pretty popular in Asia and also supports USA and European countries. Quite easy to use and also offers free escrow facility.

[alyssa85]

Hello,

I am trying to find a good way to be able to monetize Bitcoin, considering that XAPO, Cryptopay and Payeer have now discontinued their debit card program.

Before I forget, I DON'T WANT to use Coinbase at all, I have had very bad dealings with them.

Ideally, I would like to be able to transfer Bitcoin directly to a EUR bank account.

Can any of you please recommend a good and working system?

Thanks!

The easiest thing to do is make an account at Kraken, sell your bitcoin for euros and use the SEPA system to get the euros to your bank account (they usually process withdrawals within a day). Then use the debit card accociated with your bank account as normal.

[fabioganga]

thanks everyone for the suggestions!

I forgot to mention that I wouldn't use localbitcoins either, too much risk of being scammed.

I guess I will go for Kraken, I wasn't aware that they also do Bitcoin > EUR > bank transfer !

[bitart]

It's not so easy these days, because as you have mentioned the bitcoin debit card issuer WaveCrest were forced to stop it's business because of violating VISA's rules. That made XAPO and the others to stop the card business and now we're waiting for them to find another card issuer company. If you had a XAPO card, I presume you were verified at XAPO, so why not just send out EUR from XAPO to your bank account? (If you didn't have XAPO card, then it's not an option, but you can search for it if XAPO allows EUR withdrawal to Europe or not, if yes, you can open an account).
You can also check localbitcoins as well, you can find buyers who will use bank transfer to buy bitcoin, but take extra care because of the scammers

Not easy? How it's difficult? The Bitcoin prepaid cards are not the only solution, and there are better solutions than a card.
You are surely not a European citizen otherwise you would not say such thing.

@abioganga can easily join Kraken, sell his coins and request a SEPA transfer. If he requests the SEPA before 11.00 am his bank account will be credited the same day before 07.00 pm. Can't really make it faster and easier. I take Kraken as an example but it's the same with the majority having SEPA.

I've only started with the debit cards because OP has started with them and was referring to the discontinued card programs.
After I've mentioned the EUR withdrawal from XAPO as a possible solution. I was not mentioning SEPA becasue in the EU that's the default type of wire transfer if you're sending EUR inside the EU.
Of course it's not only XAPO that can provide SEPA transfers in the EU but most of the biggest exchanges also. I've also read somewhere that Kraken has managed to upgrade it's system in the middle of January this year because before it was everything but reliable...
Using a prepaid card is easier if you don't want to wire the amount directly to your bank account because of any reason. (and there are some banks who don't credit the amount to the person's account but they're sending it back if it's from a known bitcoin exchange, so it's better to read and search first if there are issues with the bank or not, usually the country's local board in the forum can help in this kind of questions) Unfortunately, debit card is not an option now, so the solution is the exchange and the bank trasfer.

[BountyX]

Before I forget, I DON'T WANT to use Coinbase at all, I have had very bad dealings with them.

Thanks!

I have your same problem. I was planning to use Coinbase, so I would be very interested to know which bad dealing you had, so as to avoid your same bad experiences.
As for Kraken, if you don't already have an account, it will be scarcely useful to you now. I have recently opened an account but the option to verify your identity is disabled, which I guess it means you cannot withdraw anything by wire.
Other sites which allow wires to Europe are BTCC, Bitstamp and I guess Bitfinex. Anybody has experiences with any of them? Bitcoin.de is a broker which allows you to sell to other customers who will then wire you the money. Very safe system, since Bitcoin.de releases the BTCs only after you confirm that the wire has arrived.

[fabioganga]

Before I forget, I DON'T WANT to use Coinbase at all, I have had very bad dealings with them.

Thanks!

I have your same problem. I was planning to use Coinbase, so I would be very interested to know which bad dealing you had, so as to avoid your same bad experiences.

Thanks for your recommendations! Coinbase arbitrarily closed my account one day because I was setting up a revenue share programme and I activated the merchants section. They basically pulled the plug on me, without even giving me any option at all to reply, simply saying that they don't want to deal with sites based on revenue share. I even tried to reason with them sending support requests saying "OK, as you wish. I don't agree with the image you have painted of my business... but I am happy to use the account without merchant services as I was doing before".

I was totally ignored and to date if I try to open an account with my ID it still tells me that I am banned. And I did nothing wrong. They just ASSUMED that I would have run a dodgy business when that was not the case at all.

That's very bad.... so I have put a big X on the name Coinbase and I would rather send my BTC somewhere else.

And I am not even mentioning the outrageous fees that they apply....

[germansupremacy]

Neteller bank account plus BitPay. You can move your BTC from any wallet to Neteller and operate with their merchants network througout Europe.

[BountyX]

Before I forget, I DON'T WANT to use Coinbase at all, I have had very bad dealings with them.

Thanks!

I have your same problem. I was planning to use Coinbase, so I would be very interested to know which bad dealing you had, so as to avoid your same bad experiences.

Thanks for your recommendations! Coinbase arbitrarily closed my account one day because I was setting up a revenue share programme and I activated the merchants section. They basically pulled the plug on me, without even giving me any option at all to reply, simply saying that they don't want to deal with sites based on revenue share. I even tried to reason with them sending support requests saying "OK, as you wish. I don't agree with the image you have painted of my business... but I am happy to use the account without merchant services as I was doing before".

I was totally ignored and to date if I try to open an account with my ID it still tells me that I am banned. And I did nothing wrong. They just ASSUMED that I would have run a dodgy business when that was not the case at all.

That's very bad.... so I have put a big X on the name Coinbase and I would rather send my BTC somewhere else.

And I am not even mentioning the outrageous fees that they apply....

Wow, this is really interesting, thanks for sharing. Is seems that the bigger one company is, the more rigid become their rules, no matter how absurd they are. Well, if you really need it and you don't find alternatives I guess you are aware that you can always ask to a close relative of yours that you can trust to open the account instead of you...

[fabioganga]

Hello,

I am trying to find a good way to be able to monetize Bitcoin, considering that XAPO, Cryptopay and Payeer have now discontinued their debit card program.

Before I forget, I DON'T WANT to use Coinbase at all, I have had very bad dealings with them.

Ideally, I would like to be able to transfer Bitcoin directly to a EUR bank account.

Can any of you please recommend a good and working system?

Thanks!

The easiest thing to do is make an account at Kraken, sell your bitcoin for euros and use the SEPA system to get the euros to your bank account (they usually process withdrawals within a day). Then use the debit card accociated with your bank account as normal.

Thank you so much for your advice, I have used Kraken as you suggested and I am very very happy with it! Low fees and fast service.

[Kraken-Septimus]

We're glad to see that we have loyal clients recommending us! Thanks LeGaulois and alyssa85.

If you need anything else, please drop by our Bitcointalk thread!

[fabioganga]

We're glad to see that we have loyal clients recommending us! Thanks LeGaulois and alyssa85.

If you need anything else, please drop by our Bitcointalk thread!

Add me as a new Kraken fan, guys you are AWESOME. Keep up the great job!