Selling Bitcoin in Australia

[Kam800]

Hi all,

I was hoping to ask if any Australians amongst us have sold their Bitcoins for AUD? Who did they go through and what was the experience, ie how long until the transfer was confirmed and how much did the process cost?

bitinnovate.com  -  Has a link on their site for selling but the service is not yet operational

btradeaustralia.com  -  appears functional but a little pricey at 5.8% all in

bitcointrader.com.au  -  is a possibility but I'm not sure I want to go through the drama of selling directly to members of the public - don't think I'm going to be selling often enough to build up a reputation and it looks from a newbie perspective to be a bit of a hassle with a certain amount of trust factor thrown in. Hrm.

www.ittybittyexchange.com  -  Found through a search of the forums. Seems a likely candidate with with 4.4% costs and the language on the site seems, well friendly and legit. Good marketing of course but it helps when the company seems approachable.

This would be a first for me so would really appreciate any advice or feedback from any Aussies out there.

[marcotheminer]

How about localbitcoins?

[Kam800]

These are the guys I was thinking of when I mentioned Bitcointrader - I seem to have got the two mixed up. These guys require a MtGox account too, adding another hop in the chain as it were.

The prob with Localbitcoins is that they act as a kind of meeting place, linking sellers to buyers to exchange currencies directly. One look at the forums and there's multiple posts of 'don't sell to this guy' etc. A nice haven for scammers but a good idea for people who are legitimate and have built up a good reputation. The system relies on trusting the person you're trading with, and I can't say I'm comfortable with the idea.