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Author Topic: Forms of converting cryptocurrencies into cash  (Read 7827 times)
isaac_clarke22
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April 25, 2019, 02:54:02 PM
 #21

If you have some sort of crypto app that is specialized for your country like mine (Coins.ph which is for the Philippines), you could easily convert your cryptos into fiat cash which is the same idea as selling your Bitcoin anyway. I have an alternative options which is Rebit that kinda gives the idea of sending money to any country, where the receiver will just receive it from his/her bank account or from remittance center. You'll just send a certain amount of BTC to the specialized address given by them with a bit of a fee for the service charge. It doesn't have an option for altcoins for now.

You could also try LocalBitcoins.

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April 25, 2019, 03:34:00 PM
 #22

You should can convert to Euro and withdraw to your bank, or make a skrill and neteller account if is available, load your skrill or neteller account with bitcoin and add your bank account to skrill or neteller and withdraw directly to your bank. With skrill was more easy on past because they not ask to confirm your bank account, but make sure you put the full name on skrill when make account.

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April 25, 2019, 04:43:15 PM
 #23

There are many ways to convert your cryptocurrencys back to fiat money. On some exchanges you can sell your coins for fiat money without any problems and then you can transfer your money to your bank account. You can also search for buyers here in the forum who come from your own environment. With such users you can meet and trade your coins against fiat money. But you should be careful. Meet only in public places.  Wink
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April 25, 2019, 08:12:04 PM
 #24

1. Find a buyer on the Internet and meeting in real life
    Pro: no fees, high privacy
    Con: you risk getting robbed

2. Sell coins in ATM:
    Pro: easy and relatively safe
    Con: high fee, usually 5% or even higher

3. Find some service that provide Bitcoin conversion
    Pro: relatively safe
    Con: high fee, usually 2-5%

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April 25, 2019, 08:23:53 PM
 #25

I think there are few places that are global but most of the time it needs to be a local place.

For example in USA they can do it on coinbase which is one of the biggest exchanges in the world but it works for usa perfectly, for other countries it requires way too much work to actually pull it off. That is where other websites come into work, there are places like kraken where Europeans could use and there is localbitcoin where everywhere around the world you can use to turn it into cash (even without using a bank if you don't want to).

There are also local exchanges that work from country to country which is most people who live outside of western countries use. There are plenty of ways basically but the only universal one is still localbitcoins to this day.
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April 25, 2019, 09:49:57 PM
 #26

Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks Smiley
Here in my country, our way of converting cryptocurrencies into fiat is to send our funds from online wallets like Mycelium, Coinomi and other wallets into the local cryptocurrency exchange and then sent it again to a remittance or a bank account and that's it we can now have the converted crypto on our hands. But I think this process depends on which country you belong as there maybe different ways you can convert your cryptocurrencies.
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April 25, 2019, 10:06:22 PM
 #27

Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks Smiley

Fortunately, our local wallet in the Philippines provides various options in converting our bitcoins to cash. Not only can we convert it to cash, we can also use our wallet to pay for our monthly bills, purchase game credits, directly send it to our respective bank accounts, and many more. It really depends on your wallet and the establishments in your country if they accept bitcoin as an alternative payment for their services/products.


Like  your country we do have our own 3rd party. Philippines has more than one but the popular is the coins.ph, they do have options to send the cash to you bank account or money transfer services. They even allow us to withdraw cardless transaction on ATMs. This company made it very convenient for us.

This one. Coins.ph really did a good job converting our Bitcoin to PHP and it's really convenient because there are lots of methods to use. You can even deposit it to your bank account. But if you don't have a bank account, you can simply exchange it using any remittance center here in the country. Of course there are fees involved, but they didn't charge that big, we are just lucky having this kind of services in the Philippines.

This is actually true. Coins.ph (our local exchange and wallet) offers various options which makes everything easier to all people who have bitcoin in the Philippines. Not only they make everything convenient but they also offer services which are relatively important to every customer.

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April 26, 2019, 12:11:41 AM
 #28

P2P and we use Paypal only.
Well that is one of the most trusted application for me so I'd rather stay with that and I already have one buyer which is trusted.
Although I dont sell much to him, since I want to get more rather than sell, he will still buy anytime and there is no need foe escrow or something else. Just the tx fee and it ia all a go.

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April 26, 2019, 02:50:06 AM
 #29


Like  your country we do have our own 3rd party. Philippines has more than one but the popular is the coins.ph, they do have options to send the cash to you bank account or money transfer services. They even allow us to withdraw cardless transaction on ATMs. This company made it very convenient for us.

I agree. coins.ph is really such a big help in the Philippines. And aside from offering transactions services, we can also buy cryptocurrencies through it. It also shows the price (in Php, of course) of bitcoin for those who want to buy or sell. And it also comes with a graph which shows the movement of btc price—whether it increased or decreased. Basically, btc's fluctuation. Moreover, one cannot access his or her wallet address unless his or her account is verified. All in all, coins.ph gave Filipinos convenience therefore it is "coin-venient".  Wink

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April 26, 2019, 06:47:47 AM
 #30


Like  your country we do have our own 3rd party. Philippines has more than one but the popular is the coins.ph, they do have options to send the cash to you bank account or money transfer services. They even allow us to withdraw cardless transaction on ATMs. This company made it very convenient for us.

I agree. coins.ph is really such a big help in the Philippines. And aside from offering transactions services, we can also buy cryptocurrencies through it. It also shows the price (in Php, of course) of bitcoin for those who want to buy or sell. And it also comes with a graph which shows the movement of btc price—whether it increased or decreased. Basically, btc's fluctuation. Moreover, one cannot access his or her wallet address unless his or her account is verified. All in all, coins.ph gave Filipinos convenience therefore it is "coin-venient".  Wink

i hear that coin.ph do have a higher buy price when you a buy a crypto using your fiats  . their sell price is also a bit lower compare to other leading exchanges and wallet online but this disadvantages are nothing compare to the good service that they offer  .  its now more convinient to cash in and cash out your cryptos to fiat or fiat to cryptos ( vice versa ) using this app  .  i forgot ,  one thing that bothers me is thier limits  . limits are too small even though i already verified my account with a kyc  .

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April 26, 2019, 07:22:16 AM
 #31

This is a list of trusted exchanges of which we can see sites like Luno, hotbit where you can sell cryptos for cash. Coinbase is the best in USA but if you want totry other ways of exchanging cryptos to cash, you can buy gift cards, load your virtual visa card or buy the bitcoin debit card but in this process you may lose more than 10% as fee. I found it better to load any forex account with cryptos and then withdraw the money to your PayPal or US bank account by paying minimal fee.




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April 26, 2019, 07:27:32 AM
 #32

in my country there are some exchangers that facilitate fiat money exchange, by using it we can withdraw funds from coins to fiat money, and of course enter local bank accounts

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April 26, 2019, 08:14:24 AM
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Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks Smiley
From where am I, we do have exchange that can convert crypto directly to our fiat, though it's just some alts aside from bitcoin, but if you are talking about all alts inside crypto, then you need to use crypto exchange first, needs to trade your alts into bitcoin or alts that listed from the local exchange
then send it your local wallet address the third party system will be the gateway to send it to your banks or whatever service you like to use receiving your
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April 26, 2019, 08:21:40 AM
 #34


Like  your country we do have our own 3rd party. Philippines has more than one but the popular is the coins.ph, they do have options to send the cash to you bank account or money transfer services. They even allow us to withdraw cardless transaction on ATMs. This company made it very convenient for us.

This one. Coins.ph really did a good job converting our Bitcoin to PHP and it's really convenient because there are lots of methods to use. You can even deposit it to your bank account. But if you don't have a bank account, you can simply exchange it using any remittance center here in the country. Of course there are fees involved, but they didn't charge that big, we are just lucky having this kind of services in the Philippines.

What is Coins.ph's market share in the remittence market? And are they still using bitcoin or have they switched to other coins to save on fees?
As to market sharing, I think there's no report on that yet but coins.ph is very popular in the Philippines. So I assume they owned more than 50% of the market. There are now 10 licensed VC exchanges reported by some media that were approved by the central bank.
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April 26, 2019, 08:23:31 AM
 #35

Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks Smiley
LOCALBITCOIN site is the preferred site for me to convert my bitcoins into cash and also I am trading on LBC so I have no issues to do it and getting benefits while doing it than who wants to quick sell.

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April 26, 2019, 10:38:44 AM
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Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks Smiley
I will do it every time when my needs are happening and I use some kind of good exchanges to made me transaction and it changes to convert my Bitcoin to the normal currency.

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April 26, 2019, 10:54:07 AM
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1. Find a buyer on the Internet and meeting in real life
    Pro: no fees, high privacy
    Con: you risk getting robbed

2. Sell coins in ATM:
    Pro: easy and relatively safe
    Con: high fee, usually 5% or even higher

3. Find some service that provide Bitcoin conversion
    Pro: relatively safe
    Con: high fee, usually 2-5%

ATM fees can be as high as 10%. They are the most expensive way to cash out bitcoin (though they are convenient).

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April 26, 2019, 11:00:46 AM
 #38

Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks Smiley
everyone is doing this because everyone needs money in their life but in some times that development was reduced and it will give the laws only at the time we need to hold because if we made the hold on probably for long time we will definitely get the profit only.

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April 26, 2019, 11:44:52 AM
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Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks Smiley


Its more convinient to turn cryptocurrency as fiat here in the country because of this popular app coins.ph. In here you can store different coins like BTC, ETH, XRP etc. and like a one stop shop, you can buy load,  or pay bills. You can easily convert your crypto into different ways like directly get it from ATM , deposit it in your personal bank account or even get into many remittance centers.
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April 26, 2019, 12:05:48 PM
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generally convert cryptocurrencies in to fiat or cash. the easiest way try to find local exchanges in your country that able to exchange cryptocurrencies into nationaly fiat and transfer cash into a local bank. thus it will be much easier than using foreign exchanges outside your country. this method is widely used in many countries. and always use a trusted local exchanger. by searching Google.
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