Avoid losing money with bitcoins

[michellee]

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

You need to go to localbitcoin and find recommended sellers so you can exchange your bitcoin and ask him to send the money to your bank account. That is the only way you can do to convert the bitcoin directly, and I think you don't have to wait for a long time. But there will be an easy way if you can find a local seller which you already know, so you only need to send the bitcoin to him, and he will send the money to your bank account. That will be a simple way for every people who want to convert the bitcoin to real money.

[r1s2g3]

The best idea is to convert your BTC into a stable coin like USDT.  It is good and recommended practice that you should not keep your coins in exchange so withdraw them to your own wallet.
Converting BTC into fiat  and again converting fiat to BTC should be avoided if you want to keep invested in BTC.

[Indamuck]

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

It is easy to exchange your bitcoin into real money, there are already a lot of sites that can offer that and even some of the bitcoin wallets now can offer us that. And what do you mean from transferring back to avoid if btc drops? Do you mean transferring back your real money to btc? If you need to transfer your money back to btc, there is no way to do that, you need to buy another set of your bitcoin again.

You can even find many buyers and sellers right here on this forum in the currency exchange section.  If you find trusted members you are completely safe sending first.  Then you will end up paying less fees as well considering how much exchanges charge for trading and the withdraw fee.

[adzino]

How about using an exchange? When the price falls, there is no way you can convert it instantly, but you can use an exchange to convert your coins to USDT (I don't support USDT though. You should do your own research and determine if its okay to convert to usdt or not). But, just keep in mind that keeping huge amount of money on an exchange wallet is never safe. The exchange might get hacked anytime and you might lose all your coins.

[dirkdekeizer]

How about using an exchange? When the price falls, there is no way you can convert it instantly, but you can use an exchange to convert your coins to USDT (I don't support USDT though. You should do your own research and determine if its okay to convert to usdt or not). But, just keep in mind that keeping huge amount of money on an exchange wallet is never safe. The exchange might get hacked anytime and you might lose all your coins.

My issue is that I can't trade it for like a bank transfer. I have no idea for what I could sell the bitcoins, I am under 18. I can't use a bank account, PayPal, Skrill

I thought wirex got something but you need to be 18 (with selfie proof)

[OlympianBitcoin]

Honestly, wouldn't that be better for the OP if he just hodls the Bitcoin? Unless he is really afraid the price is gonna drop and die... but I wouldn't really think so. Unless he *needs* money and it's a dire need, not for comfort? Then it's a different thing entirely.
Well, I guess he can always try Bisq.

[xvids]

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

I don't quite get it if you are asking for a place where you could easily convert your BTC into Fiat then you should use an exchange or trading platform.
But if you are asking about a site where you could convert your BTC into cash wothout using a bank then I think you should look for a local wallet, Just like our local wallet here in the Philippines which is called "coins.ph"
We could use it to convert BTC into cash or the other way around cash out and cash in BTC in many ways, But you also have to send a valid ID and do the selfie to verify your account.
And you could always look for a friend who would buy your crypto in cash if you want.

[shoreno]

~ snip ~

I don't quite get it if you are asking for a place where you could easily convert your BTC into Fiat then you should use an exchange or trading platform.
But if you are asking about a site where you could convert your BTC into cash wothout using a bank then I think you should look for a local wallet, Just like our local wallet here in the Philippines which is called "coins.ph"
We could use it to convert BTC into cash or the other way around cash out and cash in BTC in many ways, But you also have to send a valid ID and do the selfie to verify your account.
And you could always look for a friend who would buy your crypto in cash if you want.

The coins.ph that you are talking about is only available in the philippines and i see that op is from belgium . he cant use coins.ph but he can still use other wallets out there , like blockchain.com for example and if im not mistaken , blockchain.com dont ask for id upon signing up although you may need an i.d when cadhing out larger amount of cash or cryptos  .  electrum is also a good wallet that didnt ask for i.d verfication  .

[emberbekas]

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

If you are afraid of the volatility of bitcoin, now you can convert / save your bitcoin into stable coins like USDT. I think, most of the exchanges have included USDT as a coin supported by their exchange. That is the best way so far if we want to avoid volatility but still has coin that we can use in the future for many purposes.

[The Cryptovator]

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

Sound like you are looking for exchanger. If yes, then you could choose few good exchange like Binance, bittrex or poloniex. So you can convert your bitcoin into USD. But I don't think you can withdrawal USD directly from exchange. If your local bank is not allowing to withdraw then you have to use their party like you said skrill if you want cash. So better choose a best exchange and convert into usd if you are worry about volatility of bitcoin.

[crzy]

you can use many exchange, their have different pair example USDT,CNY,JPY,KRW and many more.
but i dont recomend you safe your balance on exchange for longterm.

Even if we exchange it into good coins it is still hard not to lose money. Staying your precious coins on one exchange is really bad, you have to be secured always. Try to have a positive trade with the coins and if the market dumps try to cut losses and invest again.

[Oasisman]

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

I guess what you meant is, converting fiat currency to Bitcoin instantly to avoid lossing big chunk when the price constantly drop. If you have local exchange in your place, then its much easier for you to do so. Or if not, there are a lot of exchanges in the list just google it and pick the most recommended one.

[kawetsriyanto]

You are under 18 but you have this much amount, yeah I mean that 1 BTC is really enough and many.
However, some exchanges may need your selfie photo for verifying your identification, right?
Actually, every country commonly has its first exchange that can enable you to withdraw Bitcoin or other cryptos easily to cash with a certain fee.
However, I think we can still leave some BTC in the exchange because personally, I believe that BTC can rise again.
However, yeah, it will take longer time as we imagine.

[izanagi narukami]

If you decide to invest crypto, you must prepare everything from the start until the worst.
Just consider profit as the bonus !

Luckily I can convert into fiat when my local exchange already exist over 5 years !

[aylabadia05]

sorry before in which country do you live?
because members of this forum are different countries, I suggest you use an exchange that supports bitcoin exchanges in your country. like I use Exchange INDODAX which can be exchanged for local money in my country.

[dirkdekeizer]

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

If you are afraid of the volatility of bitcoin, now you can convert / save your bitcoin into stable coins like USDT. I think, most of the exchanges have included USDT as a coin supported by their exchange. That is the best way so far if we want to avoid volatility but still has coin that we can use in the future for many purposes.

If I convert in USDT, do you think the price will be the same for example in 5 years? Is it really stable or can anything happen

Also, is tether.to the only site where I can have USDT?

[ChrisPop]

You can hedge your bitcoin value, but you need to be careful at funding. On Bitmex for example you can buy future contracts and sell spot contracts. This way you will protect your value. But you will need to pay or receive a funding fee each 8 hours which can vary. Especially if you are a newbie I don't recommend doing this. I think a crypto debit card would be the best option.

[dirkdekeizer]

You can hedge your bitcoin value, but you need to be careful at funding. On Bitmex for example you can buy future contracts and sell spot contracts. This way you will protect your value. But you will need to pay or receive a funding fee each 8 hours which can vary. Especially if you are a newbie I don't recommend doing this. I think a crypto debit card would be the best option.

A crypto debit card seems the best solution for me. I think I'll have to wait a few months because I am not 18 yet.

I hope btc won't drop hard

[Babyrica0226]

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

Most of the centralized exchange are normally asking for personal information to their individual traders by requiring them to submit KYC, for them to withdraw if ever they get profit while doing trade in the market exchange platform. Now if you want to avoid this things you can use decentralized exchange like DEX, forkdelta and coinexchange something like that.

[BeGoods]

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

I think there is no such exchange, where you can avoid the fluctuations that exist. all existing exchanges give you facilities to exchange them for fiat and vice versa. of course you can't guarantee you get the same value for that exchange because the price keeps moving