Beginner question about monetizing gains

[Legendhasit]

Post #2

When is comes to monetizing gains on Coinsbit, are you able to send directly to a bank account? I'm reading the FAQ page and it appears I may need send to a advcash wallet?  anyone have experience doing this?
*actually I just tried to look into advcash and it says they do not provide service to US citizens.  now what?

anything I should be cautious or mindful of?  

note the coin I would liquidate is only on Coinsbit at the moment.  

*well as a newbie I've just found out US citizens can not withdraw from Coinsbit.  I don't have any money with them but the coin I have only trades on that site.  Suggestions on how to monetize if/when I decide to do so?

Thank you for your help!

[ChrisPop]

What is the coin trading against? If it has a BTC pair you can just sell the coin for BTC and then withdraw the BTC, no need to go through a payment processor like Advcash. I suppose they do let you to withdraw BTC..
Otherwise just trade against USD and then buy BTC, then withdraw. That would imply more fees, but if that's the only way you can get your money out of there GO FOR IT!

[Legendhasit]

What is the coin trading against? If it has a BTC pair you can just sell the coin for BTC and then withdraw the BTC, no need to go through a payment processor like Advcash. I suppose they do let you to withdraw BTC..
Otherwise just trade against USD and then buy BTC, then withdraw. That would imply more fees, but if that's the only way you can get your money out of there GO FOR IT!

it trades against BTC, yes.  Although I am a US citizen and as such I can not withdraw from that exchange. Have any thoughts/suggestions on a workaround?

[JeromeTash]

I see so any trading pairs such as BTC and ETH. Are you trying to say there is no option to withdraw crypto like ETH or BTC? Only USD withdraw available?

[Legendhasit]

I see so any trading pairs such as BTC and ETH. Are you trying to say there is no option to withdraw crypto like ETH or BTC? Only USD withdraw available?

As I understand it after speaking with support, you must first go through the standard KYC steps to get verified in order to withdraw funds.  But, Coinsbit does not accept US documents and as such they will not verify my account.  With no verification I would never be able to withdraw funds. 

[JeromeTash]

As I understand it after speaking with support, you must first go through the standard KYC steps to get verified in order to withdraw funds.  But, Coinsbit does not accept US documents and as such they will not verify my account.  With no verification I would never be able to withdraw funds.  

Well that's sad to know. I think it's probably due to the strict regulations in the US. I don't see any other way around apart from;
1.  Getting someone with a verified non US account to trade for you the token and then sending you the money or ETH/BTC. (Needs to be someone trustworthy)
2.  Waiting for the token to get listed in an exchange that gives  at least a withdrawal limit to accounts that have not filled KYC or a DEX.

What token are you trying to trade?

[Legendhasit]

As I understand it after speaking with support, you must first go through the standard KYC steps to get verified in order to withdraw funds.  But, Coinsbit does not accept US documents and as such they will not verify my account.  With no verification I would never be able to withdraw funds.  

Well that's sad to know. I think it's probably due to the strict regulations in the US. I don't see any other way around apart from;
1.  Getting someone with a verified non US account to trade for you the token and then sending you the money or ETH/BTC. (Needs to be someone trustworthy)
2.  Waiting for the token to get listed in an exchange that gives  at least a withdrawal limit to accounts that have not filled KYC or a DEX.

What token are you trying to trade?

not knowing much about the process that was what I figured.  Maybe there's other alternatives out there.  As for the coin, its very new and marketing hasn't started.  Once that ramps up i'll be happy to share specifics.  


And, it's too late on sending the KYC docs.  I goofed there.  they've already got everything.  They did indicate the account will be blocked at my request.  for whatever that's worth...

[JeromeTash]

not knowing much about the process that was what I figured.  Maybe there's other alternatives out there.  As for the coin, its very new and marketing hasn't started.  Once that ramps up i'll be happy to share specifics.  

Just made a small discovery... Don't even count on them so much

Don't even bother sending your KYC details or tokens to them. They are SCAMMERS: https://bitcointalk.org/index.php?topic=5195285.0
They will probably steal your details and sell them on the darkmarket, as for the tokens, you will probably never see them again if you sent them.

[harizen]

Just for clarification, is your coin/token deposited already to Coinsbit right now?

If yes no, on what wallet they are stored now? Your best option is to trade it via P2P within the Currency Exchange section of any reputable platform (like here) or directly within the Coinsbit community at their established official group or discussion section at any platform. Or you might need to extend your patience until other exchange will list them.

If no yes, I wonder how did you end up having that coin on that exchange. Did you miss the terms?

EDIT: Typo; Yes to No; No to Yes -_-

[Legendhasit]

Just for clarification, is your coin/token deposited already to Coinsbit right now?

If yes, on what wallet it stored now? Your best option is to trade it via P2P within the Currency Exchange section of any reputable platform (like here) or directly within the Coinsbit community at their established official group or discussion section at any platform. Or you might need to extend your patience until other exchange will list them.

If no, I wonder how did you end up having that coin on that exchange. Did you miss the terms?

I have not yet deposited to Coinsbit.  The plan was to do so in the future and was trying to research how best way to do so.  I do expect the coin to move to other exchanges in the future so maybe I have to wait until then.

[Legendhasit]

Post #2

When is comes to monetizing gains on Coinsbit, are you able to send directly to a bank account? I'm reading the FAQ page and it appears I may need send to a advcash wallet?  anyone have experience doing this?
*actually I just tried to look into advcash and it says they do not provide service to US citizens.  now what?

anything I should be cautious or mindful of?  

note the coin I would liquidate is only on Coinsbit at the moment.  

*well as a newbie I've just found out US citizens can not withdraw from Coinsbit.  I don't have any money with them but the coin I have only trades on that site.  Suggestions on how to monetize if/when I decide to do so?

Thank you for your help!

starting a NEW thread on this.  please disregard here.

[Bitcoin_Arena]

starting a NEW thread on this.  please disregard here.

If you feel you got a solution to your problem and don't want any further discussion about it. You could just lock the topic. The lock button is on the bottom left of your page