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Author Topic: Safe way for newbie to sell 3.425 bitcoins?  (Read 881 times)
Mognar
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October 16, 2013, 04:07:34 PM
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Hi all,

I need some advice. I started mining right before the asics came out and made a few coins with ATI cards. I'm in a bad spot right now and I'm trying to come up with money to pay last months bills, when I remembered I had these coins sitting.

I checked the Mt. Gox rate and they should be worth around $544 as of this writing. I was going to create an account on Mt. Gox and sell them there, but I noticed in their faqs that there is a 4 week wait...  I also tried Bitcoin-brokers, but was told that they put a cap on sellers and are not accepting any more at this time.

I really need to cash these in as soon as possible to try and help pay my mortgage. What's a newbie to do at this point? I know paypal is a no no... what options do I have? I've read a lot of posts saying use escrow if selling to someone on the board, but how do you set that up?

It may seem like pennies to most of you guys dealing in large quantities of coins, but for me, the $544 is like a million at this point and I can't afford to be scammed...

Any help would be greatly appreciated.

If it matters, I live in NC in the US.

Thanks!

Mog
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realestone
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October 16, 2013, 04:16:07 PM
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my advice is dont sell to mt gox if you search this exchange forum there are a few members that will buy your coins and have very high rep
mogrith
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October 16, 2013, 04:21:36 PM
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you can check
https://localbitcoins.com/instant-bitcoins/

And find someone near to trade face to face. meet them in public like a starbucks they have wifi so you can send the BTC

realestone is also correct. Put a [WTS] message in this forum.

Merge mine BLC+PHO+ELT+XDQ+BBTC+UMO+LIT pool is open http://la1.blakecoin.com tips: 1MogRiTHpQZ7bkpq49cSVWADrTt7Jrghp
Scott J
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October 16, 2013, 04:24:38 PM
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I would go to the currency exchange forum and create a sell thread asking for a deposit to your bank account.

Then you can either use escrow, or find someone trusted/send the BTC in parts.

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October 16, 2013, 05:24:26 PM
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I think selling to a trusted member is the way to go. You may also want to have someone stand in the middle and provide escrow service. That should cost 1% or less, but may be worth it.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

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October 16, 2013, 05:26:42 PM
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Coinbase is probably the safest way, but it'll take a bit to get set up with them.  And then a few days to get the ACH transfer once you sell the coins.  All in all, you're looking at 4-10 days before you'll see any money in your bank account this way, but it's a very safe option and you don't have to worry about being scammed.
Mognar
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October 16, 2013, 05:27:36 PM
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Thanks all and thanks Mogrith!

I used localbitcoin to set up a meeting with someone local. A little lower than the current rate, but I'll have the money in my hand tomorrow which helps tremendously.
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October 16, 2013, 05:28:50 PM
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Use localbitcoins.com. It's safe and better.

edit: congrats.
mogrith
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October 16, 2013, 06:16:53 PM
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Thanks all and thanks Mogrith!

I used localbitcoin to set up a meeting with someone local. A little lower than the current rate, but I'll have the money in my hand tomorrow which helps tremendously.

Glad I could help. rates will tend to be lower sell / higher buy as payments for work and risk involved.

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October 16, 2013, 06:20:47 PM
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My site. you can use the GreenDot money Pak cards to fund a paypal

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October 18, 2013, 01:12:36 AM
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I'm looking to buy ~$50USD in btc with Dwolla if interested.

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