Where to sell BTC for higher markup price?

[jerry0]

I'm curious but are there are any sites where you could sell btc for a higher price than what is shown on coinbase/gemini/kraken/bitstamp?


Back then i recalled people said they used local bitcoins to buy/sell btc and i recall some ppl paid a premium or discount for btc. 


But are there people that are paying one percent or even two percent more for btc nowadays?  Or vice versa?  For example if you sell btc for cash or cash deposit from someone or say bank wire... typically what is the market rate for it?  Is it about even?  Or is the person paying cash paying a premium or paying less?

[mk4]

You can pretty much sell with such premiums mostly only on P2P platforms like you said. As for specific prices, your best bet is to check buy and sell offers of people in your country(in some cases I even see price premiums of 4%), and probably just over/undercut their offers a bit as so the likeliness of buyers/sellers picking your offer would be a bit higher.

[jerry0]

What platforms are reliable?  Im American but im outside the US though. 


Is localbitcoins still reliable are not anymore?  The thing is what is the most common form of payment in these transactions?  Is it still cash?  Or bank transfer?  Or cash deposit in bank?


Because i heard online transfers could be reversed.  So wouldn't the most safe form of accepting payment be having the buyer deposit cash in your bank account?

[mk4]

What platforms are reliable?  Im American but im outside the US though.  


Is localbitcoins still reliable are not anymore?

LocalBitcoins still has most of the traffic when talking about P2P platforms as far as I know. Followed by:

1. Binance P2P
2. LocalCryptos
3. HodlHodl
4. Bisq

The thing is what is the most common form of payment in these transactions?  Is it still cash?  Or bank transfer?  Or cash deposit in bank?

Again, you're better off checking out existing buy/sell offers yourself because it's going to be different from country to country.

Because i heard online transfers could be reversed.  So wouldn't the most safe form of accepting payment be having the buyer deposit cash in your bank account?

PayPal and CashApp(not sure about CashApp tho) can be reversed; but there might be other platforms in your locality whereas reversals could be attempted. But yea, mostly bank transfers and physical cash transactions are your best bets for non-reversable transactions.

[jerry0]

Well Im outside the US now... but im American with a Us bank account.


But these person to person ... are they almost always meetings as you meet the other in person?  Or its mainly ppl communicate via forum and then payment and trade is made like that?


Because for example if there was a way i can go on a forum and trade with someone when there is some escrow service... well that would seem nice.  But if you do that... wouldn't that mean no much profit to be made since you have to pay that escrower?  Also... do ppl who sell btc in these situations... get less than face value or more? 

[mk4]

Well Im outside the US now... but im American with a Us bank account.

Then you can still transact with people in the US using your US bank account, as long as you can still access your bank account.

But these person to person ... are they almost always meetings as you meet the other in person?  Or its mainly ppl communicate via forum and then payment and trade is made like that?

If you picked a physical person-to-person transaction, then you'd meet physically, obviously. Banks, malls, or whatever other secure location both of you prefer. If you picked an online transaction whereas you'd use online bank transfers, then obviously you wouldn't need to meet in person(unless both of you wanted to).

Because for example if there was a way i can go on a forum and trade with someone when there is some escrow service... well that would seem nice.  But if you do that... wouldn't that mean no much profit to be made since you have to pay that escrower?  Also... do ppl who sell btc in these situations... get less than face value or more?  

Peer-to-peer(p2p) platforms have their own escrow services integrated with their service.

And yes, you pay fees for the escrow. Regardless, you can still gain price premiums of course, depending on what price you chose to buy/sell bitcoin.


P.S. Seriously though, just check out the p2p platforms I've mentioned so you'd have an idea on how they work lol.

[figmentofmyass]

But are there people that are paying one percent or even two percent more for btc nowadays?  Or vice versa?

lots of high feedback traders obviously make a decent profit selling above spot or buying below. it can take weeks for people to verify on an exchange, deposit money, and then buy---these people are willing to pay high premiums. untrusted users are also paying a premium to deal with trusted users.

keep in mind, if you plan to advertise buy/sell offers or otherwise engage in this "as a business" then you may be required to register with the relevant money services business regulator. i've been researching the rules in the USA: https://bitcointalk.org/index.php?topic=5308020.0

running afoul of those regulations could land you in prison, so be very careful! learn the law and stay on the right side of it. similar regulations just went into effect in the UK too: https://bitcointalk.org/index.php?topic=5308411.msg56067476#msg56067476

What platforms are reliable?  Im American but im outside the US though.

localcryptos is my favorite---no KYC and they allow p2p cash listings, unlike localbitcoins. the liquidity is lacking compared to localbitcoins but it's definitely growing.

The thing is what is the most common form of payment in these transactions?  Is it still cash?  Or bank transfer?  Or cash deposit in bank?

Because i heard online transfers could be reversed.  So wouldn't the most safe form of accepting payment be having the buyer deposit cash in your bank account?

bank transfer/cash deposit seems to be the most common method these days. personally i only deal with cash because 1. privacy (avoiding banks and prying eyes) 2. reversal/dispute risk.

i've read about cases where even cash teller deposits were reversed. buyer deposits money, the bank credits it, the seller releases escrow, then the buyer returns to the bank and claims they deposited money into the wrong account. the bank reverses the deposit.

there are ways to hedge the risks of dealing with online fiat, but at the end of the day there is always counter party risk. any online fiat method which claims to be irreversible is not really irreversible.

[Darker45]

Because for example if there was a way i can go on a forum and trade with someone when there is some escrow service... well that would seem nice.  But if you do that... wouldn't that mean no much profit to be made since you have to pay that escrower?  Also... do ppl who sell btc in these situations... get less than face value or more? 

You can certainly use this forum itself for that. The Currency exchange board is for such purpose.

Also, it is not bad to pay a certain fee for an escrow. The escrow cost in the end will be really worth it. Paying a certain amount for safety and security is better than not paying at all and face unnecessary risks. Also, I'm afraid nobody would send you the money first given that your account here is not yet trusted. Escrow is inevitable in this sense.

Selling Bitcoin here is mostly according to its face value. You could use preev, CMC, Google, and so on for your price basis.

[jerry0]

Well Im outside the US now... but im American with a Us bank account.

Then you can still transact with people in the US using your US bank account, as long as you can still access your bank account.

But these person to person ... are they almost always meetings as you meet the other in person?  Or its mainly ppl communicate via forum and then payment and trade is made like that?

If you picked a physical person-to-person transaction, then you'd meet physically, obviously. Banks, malls, or whatever other secure location both of you prefer. If you picked an online transaction whereas you'd use online bank transfers, then obviously you wouldn't need to meet in person(unless both of you wanted to).

Because for example if there was a way i can go on a forum and trade with someone when there is some escrow service... well that would seem nice.  But if you do that... wouldn't that mean no much profit to be made since you have to pay that escrower?  Also... do ppl who sell btc in these situations... get less than face value or more?  

Peer-to-peer(p2p) platforms have their own escrow services integrated with their service.

And yes, you pay fees for the escrow. Regardless, you can still gain price premiums of course, depending on what price you chose to buy/sell bitcoin.


P.S. Seriously though, just check out the p2p platforms I've mentioned so you'd have an idea on how they work lol.

Yea i have access to my us online bank account... i use online banking. So i could trade boa or zelle etc.  Yea i would do online whether its selling btc for bank transfer or buying btc... though im talking mostly about selling btc now though.

Well if you meet someone physically... then wouldn't almost always payment be cash?  Or have them deposit cash in bank?  Other thing is this.  If its cash... isn't it going to be a bit awkcard counting the cash out there in that location?  And making sure all the bills are legit and not counterfeit?  I mean imagine someone does that for 5k cash or even more.   I mean then there is safety issue and everything.  Like how often do you think ppl sell btc for cash in person and transaction is 5 figures +?

[jerry0]

But are there people that are paying one percent or even two percent more for btc nowadays?  Or vice versa?

lots of high feedback traders obviously make a decent profit selling above spot or buying below. it can take weeks for people to verify on an exchange, deposit money, and then buy---these people are willing to pay high premiums. untrusted users are also paying a premium to deal with trusted users.

keep in mind, if you plan to advertise buy/sell offers or otherwise engage in this "as a business" then you may be required to register with the relevant money services business regulator. i've been researching the rules in the USA: https://bitcointalk.org/index.php?topic=5308020.0

running afoul of those regulations could land you in prison, so be very careful! learn the law and stay on the right side of it. similar regulations just went into effect in the UK too: https://bitcointalk.org/index.php?topic=5308411.msg56067476#msg56067476

What platforms are reliable?  Im American but im outside the US though.

localcryptos is my favorite---no KYC and they allow p2p cash listings, unlike localbitcoins. the liquidity is lacking compared to localbitcoins but it's definitely growing.

The thing is what is the most common form of payment in these transactions?  Is it still cash?  Or bank transfer?  Or cash deposit in bank?

Because i heard online transfers could be reversed.  So wouldn't the most safe form of accepting payment be having the buyer deposit cash in your bank account?

bank transfer/cash deposit seems to be the most common method these days. personally i only deal with cash because 1. privacy (avoiding banks and prying eyes) 2. reversal/dispute risk.

i've read about cases where even cash teller deposits were reversed. buyer deposits money, the bank credits it, the seller releases escrow, then the buyer returns to the bank and claims they deposited money into the wrong account. the bank reverses the deposit.

there are ways to hedge the risks of dealing with online fiat, but at the end of the day there is always counter party risk. any online fiat method which claims to be irreversible is not really irreversible.

 

Yea i heard about if you are buying/selling btc like a business, you need a license.  I always thought that was weird.  So its fine buying/selling btc in an exchange like coinbase/gemini/kraken but if you sell it to other ppl for bank transfer and vice versa... you need a license?


Well do most users who have high feedback who do this... are they mostly buyers of btc at discount or sellers of btc at a premium?  Like if someone has cash and want to buy btc but don't want to use exchange... do they typically pay more than face value or less than face value?  Is it hard to be a high profile buyer/seller though?  Localcryptos... so you have experience with it?  So do you mostly buy or sell btc there?


Well when you deal with cash... don't you have to make sure you check every bill is legit if you sell btc?  Like you bring a ink pen to detect every single one?  And isn't it awkward when doing that when checking every bill?


Yes i heard of cash teller deposits getting reversed.  But i heard this had to do with only if the that person deposits it that day... and goes back to the bank on the same exact day and tell them they made wrong cash deposit in wrong account.  If its the end of the business day... then they can't reverse it.  That is what you mean right?


I heard some online transactions with fiat is not reversible... but i think its based in europe? Something called webmoney or so?  But aren't bank wires almost always not reversible?

[squatter]

Yea i heard about if you are buying/selling btc like a business, you need a license.  I always thought that was weird.  So its fine buying/selling btc in an exchange like coinbase/gemini/kraken but if you sell it to other ppl for bank transfer and vice versa... you need a license?

As I understand it, the basic idea is that all bitcoin exchange businesses are subject to the same rules, whether you are Coinbase or a P2P exchange. Coinbase is registered with FinCEN and has all relevant licenses. If you personally run an exchange business -- regularly buying and selling to lots of customers -- there is the same legal expectation of you.

If you are just buying or selling a little bitcoin for personal purposes and not regularly profiting as a business, those rules don't apply and you don't need a license.

Well do most users who have high feedback who do this... are they mostly buyers of btc at discount or sellers of btc at a premium?  Like if someone has cash and want to buy btc but don't want to use exchange... do they typically pay more than face value or less than face value?  Is it hard to be a high profile buyer/seller though?

If you're a new user with zero successful trades, don't expect to be able to charge a premium. At best, you'll pay the current market price.

[Theb]

Are there lot of ppl doing this as in selling btc for a higher markup price right now?

From what I remembered a few years back people outside of South Korea were trying to go in one of their exchanges because there is a 5-10% price difference they have as compared to the global market, I don't remember how the conversation went but from what I know they are having a difficult time on being verified in one of their exchanges as one of their requirements is for you to be a resident in South Korea. If you want to find a big price difference I suggest you must start looking for local exchanges from different countries that allows foreign traders to use their platform.

[Findingnemo]

Are there lot of ppl doing this as in selling btc for a higher markup price right now?

In local exchanges the prices are always higher than price of coinmarketcap due to less liquidity but on peer to peer still the prices are higher than the coinmarketcap price because the traders need to pay 1% commission to the trading platform so they always keep atleast 2% as margin to make little money as possible.

[as.exchange]

Please feel free checking https://as.exchange/BitcoinZeroFee With our 0.00% trading fees policy, I am sure you will find some arbitrage opportunities with other P2Ps charging 1% fees, or even on as.exchange alone across different payment methods. And if you will have any questions, feel free to ask, or comment (our thread is here: BitcoinTalk).