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How do you get USD from BTC-e if you sell some coin?
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Topic: How do you get USD from BTC-e if you sell some coin? (Read 552 times)
BitEnthusiast
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How do you get USD from BTC-e if you sell some coin?
August 31, 2013, 06:41:45 PM
#1
I live in the US and I recently bought 24.95 LTCs through BTC-e. I figured out a method to buy LTC from BTCe by sending BTC from Coinbase. Now If I sell my LTCs how would I get it back in USD?
Lethn
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Re: How do you get USD from BTC-e if you sell some coin?
August 31, 2013, 06:43:36 PM
#2
I believe the most common option is to wire transfer after you sell any digital cryptocurrency the problem with this though is the fees can be that high you'd end up not being able to withdraw it in the first place or if you did you'd just lose the money you gained, make sure you have a substantial number of coins before you sell. What I have planned is I transfer my alt. currencies to Bitcoins and then sell Bitcoins on coinstamp and have that transferred to my account, I think it's safer to sell your alt. currencies for Bitcoins right now because Bitcoins are more widely accepted.
Tip: Doing it this way I've also noticed there are times when the LTC/BTC exchange rate is actually higher than the LTC/USD rate so it actually pays more to have your stuff transferred to Bitcoin sometimes, this is just what I've noticed from observing though, I haven't traded anything yet because I'm still waiting long term for the value of my coins to rise
BitEnthusiast
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Re: How do you get USD from BTC-e if you sell some coin?
August 31, 2013, 07:04:59 PM
#3
I'm sorry I should have said for future refrences, because I'm not planning to sell any coins just yet. I'm waiting for the value to increase over time. I think transfering my altcoin to BTC is a good way to go, even though the exchange rate is higher at times.
Joerii
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Re: How do you get USD from BTC-e if you sell some coin?
August 31, 2013, 07:41:47 PM
#4
Lethn is right. never wire small ammount of money, the banks take too big a chunk out of it.
Hypercube - get the attention you deserve
Lethn
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Re: How do you get USD from BTC-e if you sell some coin?
August 31, 2013, 07:43:45 PM
#5
Quote from: BitEnthusiast on August 31, 2013, 07:04:59 PM
I'm sorry I should have said for future refrences, because I'm not planning to sell any coins just yet. I'm waiting for the value to increase over time. I think transfering my altcoin to BTC is a good way to go, even though the exchange rate is higher at times.
That's pretty much what I'm doing right now
BitEnthusiast
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Re: How do you get USD from BTC-e if you sell some coin?
August 31, 2013, 11:43:39 PM
#6
Nice
I want to buy 4-4.5 BTC and exchange half for LTC.
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