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Author Topic: Best way to cash-out  (Read 234 times)
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March 01, 2018, 01:50:11 PM
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Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?
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March 02, 2018, 01:54:10 PM
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Maybe you can sell them by cash to people who wants to buy Bitcoin with cash in Malaysia. Some banks in Turkey allows you to open bank accounts easily, buy you should visit Turkey to open the account.

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March 02, 2018, 02:11:22 PM
 #3

i think you should search for some people live in Malaysia to exchange it or you can use skrill and the withdraw (the usd not btc ) to your bank
or try localbitcoins.com

                                                                               
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March 02, 2018, 02:13:43 PM
 #4

Maybe you can sell them by cash to people who wants to buy Bitcoin with cash in Malaysia. Some banks in Turkey allows you to open bank accounts easily, buy you should visit Turkey to open the account.
You can consult LocalBitcoins service to find people willing to exchange Bitcoin for cash in your local community. Also you might find them using this very forum.

https://coinatmradar.com/country/129/bitcoin-atm-malaysia/ suggests there is only one ATM in Kuala Lumpur, but if you live there you might want to consider using it too.

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March 02, 2018, 02:17:40 PM
 #5

well the main purpose of bitcoin is peer to peer transaction , maybe you have a friend thier whome you can sell or some of your facebook friends who live there, and you can try xapo too, it is a bitcoin wallet which offers atm card and you can withdraw in any countries, I  think bitpay too offers the same and paycent. you can just search in google too.

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March 02, 2018, 02:23:41 PM
 #6

Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?

yes the best way is to sell it to someone to cash. But you have to be careful, a lot of instances people who do transactions in person have been into risk, and I mean physical risk. So you need to consider doing it in public where it's too busy to do unlawful things.

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March 02, 2018, 02:25:12 PM
 #7

Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?
1.The fastest way is to find online sellers from localbitcoin. met them and pay face2face.
2. Use this site  Currency exchange and cash out using Paypal "Not recommended way" or any other payment way.always use escrow
3. use local board section Malaysia or any near local board "India, Indonesian,...etc "
4. open a bank account in "India, Indonesian,...etc " that accept bitcoin and exchange it from that bank to your bank

Try not to circumvent the government's decisions and follow legal methods

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March 02, 2018, 02:34:04 PM
 #8

Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?

I think converting into your local money will be a great idea , just like the other country who were currently facing this kind of struggle. So sad for the countries who domt see the potentials that they may acquire if they allow their people to have an access to this platform, and be profitable even they were just in their house cause as an individual ,it may help me to be a better contributor in my own society.

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March 02, 2018, 02:40:17 PM
 #9

The best option is using LocalBitcoin. That's your safest bet.
Meet them face-to-face and you'll be safe and sounds.
But I'm not sure that it will be very safe when you are talking about a lot of BTC transaction. Or maybe you can cash it out in a batches.

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March 02, 2018, 02:48:24 PM
 #10

The best option is using LocalBitcoin. That's your safest bet.
Meet them face-to-face and you'll be safe and sounds.
But I'm not sure that it will be very safe when you are talking about a lot of BTC transaction. Or maybe you can cash it out in a batches.

Yes, person to person bitcoin exchanges can be risky in two ways :

1. The Buyer might be a scammer or a thief, trying to rob you. I would advice you to do this in a very public place.

2. The Buyer might be local law-enforcement setting a trap. {You might need a money-transmitter license, depending on

    your local laws.}

Your best bet might be to keep those bitcoins and to pay for goods and services, where Bitcoin is accepted and to keep your

Fiat for everything else.  Huh

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March 02, 2018, 02:51:43 PM
 #11


to create a bitcoin account in my country may, in accordance with the conditions specified.
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March 02, 2018, 02:57:18 PM
 #12

Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?
If you want to cashout your bitcoin the alternative is maybe bitcoin debit card but it will costs you much especially for withdrawal through the ATM. Another option is using local bitcoin as people mentioned above. Wow I'm surprised that your government finally shut down the exchanger industry, however your neighbor country Singapore, Thailand, Philippines or even Indonesian are very welcome to the bitcoin.


to create a bitcoin account in my country may, in accordance with the conditions specified.
Yes, every country has their own regulation regarding an opening account, especially for the foreigner.

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March 02, 2018, 04:01:42 PM
 #13

Are there no places in your country that accept Bitcoin as payment? That's horrible that they freeze bank accounts. There must be a way to hide it. I think it's morally wrong to do that to people. It still doesn't stop people using and accepting bitcoin as payment. Your country sounds like a police state.


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March 02, 2018, 04:12:11 PM
 #14

Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?
If you want to cashout your bitcoin the alternative is maybe bitcoin debit card but it will costs you much especially for withdrawal through the ATM. Another option is using local bitcoin as people mentioned above. Wow I'm surprised that your government finally shut down the exchanger industry, however your neighbor country Singapore, Thailand, Philippines or even Indonesian are very welcome to the bitcoin.


to create a bitcoin account in my country may, in accordance with the conditions specified.
Yes, every country has their own regulation regarding an opening account, especially for the foreigner.

In my own observation about on what is the best way to cash out in your bitcoin are selling it to the buyers who are buying and selling bitcoin. He pays you a real money to your bitcoin and the place where you are doing the exchanging transaction are in a public place, and you must face to face to the buyer.

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March 07, 2018, 10:36:30 AM
 #15

I think you need to migrate to other country to sell your bitcoins or other idea is to sell it to who are looking for bitcoins in Malaysia. But I suggest the best option you have now is just to hold your bitcoins for now. I hope this may help.

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March 07, 2018, 10:43:04 AM
 #16

Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?
If you want to cashout your bitcoin the alternative is maybe bitcoin debit card but it will costs you much especially for withdrawal through the ATM. Another option is using local bitcoin as people mentioned above. Wow I'm surprised that your government finally shut down the exchanger industry, however your neighbor country Singapore, Thailand, Philippines or even Indonesian are very welcome to the bitcoin.


to create a bitcoin account in my country may, in accordance with the conditions specified.
Yes, every country has their own regulation regarding an opening account, especially for the foreigner.

I think now Bitcoin debit card is not working in all countries I heard only in the European countries this card is working not sure. recently it stops working in Singapore this is for sure.

How about Paypal money? you can sell your bitcoins to PayPal money this is also good option.
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March 07, 2018, 10:48:53 AM
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Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?
The best way is to use the social media to find friends in Malaysia who want to buy bitcoins so you exchange with them. Again you can open accounts with a bank that accept bitcoins; and exchange it there

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March 07, 2018, 10:54:47 AM
 #18

You can check for some payment systems (like Skrill or Okpay) that have an option of funding your account via bitpay, if they don't have any restrictions in your country then it will be realy fast to fund your acc with a single transaction and only 1% bitpay fee. The 2nd fastest option is localbitcoins, which was already mentioned, but even if it is popular in your country I havent seen any major sellers buying with lower then 5% fee.

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March 07, 2018, 11:19:25 AM
 #19

Hi All, Living in Malaysia and the Gov. freezing bank accounts of Bitcoin exchange. How to cash out bitcoin? Is it easy to open an account in another country?
Answer to you question is Singapore. Because I think Singapore is the most bitcoin/crypto friendly country on earth.

You are very near to Singapore and I guess you're Malaysian so you don't need visa to visit Singapore you can travel by bus its just 90MYR.
Also you can open account there in any bank like CIMB or HSBC they have branches in Malaysia / Singapore too. It should be very easy for Malaysians. I remember when I was there in Malaysia people use to go to Singapore just to buy iPhone.

Any way once you have Bank account in Singapore use any can exchange (e.g. Coinbase does support Singapore) to withdraw to your SG Bank and later bring the cash to Malaysia or do online transfer to your local account.
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March 07, 2018, 11:26:26 AM
 #20

Instead of cashing out your Bitcoin holdings you might consider purchasing goods and services with Bitcoin. After all, isn't it the main purpuse behind why Bitcoin was created in the first place - as an electronic currency system? And with transaction fees being as low as they are currently, it is an option worth considering, I think.

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