BTC to FIAT Bank Account Exchange Recommendation Required

[Hendrik S.]

Hello.  I am a beginner and have just purchased my first BTC's.  They are now stored in Jaxx Liberty.  I would like to exchange some of the BTC to EURO and transfer it to a German bank account.  I believe that this is not possible using Jaxx alone, and that I require the services of a BTC to FIAT exchange platform.  I would prefer not to have to register with my personal details on this exchange.  I almost got scamed using on "https://www.bitcoinscashout.com/", but luckily started reading on this Forum before I pushed the button.  Can someone please recommend a reputable exchange service that I can use?

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[Charles-Tim]

For privacy, you can try hodlhold, bisq or localcryptos.

For ease but privacy depriving means, you can try exchanges like Binance, you will need to verify your account. You can find this link useful.

Another privacy means, direct p2p on this forum. You can open a trade on currency exchange, there are many Gremans on this forum, I believe some will be active to trade with you. Make use of escrow service.

[jackg]

I'd recommend using somewhere like coinbase.com, you could always look for a bitcoin atm if you're near a city/großstadt (but they might not have good rates).

As suggested above, you could try this forum to do an exchange but I'd recommend using either a trusted escrow or an established member here to trade with - you can check their trust by clicking it on their profile.


How did you buy these coins? Can you not use the same method to sell them?

[NeuroticFish]

Hello.  I am a beginner and have just purchased my first BTC's.  They are now stored in Jaxx Liberty.  I would like to exchange some of the BTC to EURO and transfer it to a German bank account.  I believe that this is not possible using Jaxx alone, and that I require the services of a BTC to FIAT exchange platform.  I would prefer not to have to register with my personal details on this exchange.  I almost got scamed using on "https://www.bitcoinscashout.com/", but luckily started reading on this Forum before I pushed the button.  Can someone please recommend a reputable exchange service that I can use?

If giving your details would have been OK, I would have recommended Bitstamp.

The bigger problem is that many banks "don't like" the money coming from selling bitcoin and may ask for various things to prove you were not doing anything illegal (and having the exchange account on your name does help).

On the other hand, another possible approach could be a bitcoin debit card, like Binance or Wirex (or others too) offer in Europe. This could avoid unnecessary headaches (PS. Binance is cheaper than Wirex).

However, wait for more replies and analyze all the options you get.

[The Cryptovator]

Welcome to the forum. Good thing you shared the problem with this community. You are in right place. Since you are looking for privacy and don't want to use any personal documents so @Charles-Tim has given you the best advice. You may proceed with that.

Besides that, perhaps scammers will try to contact you via PM to exchange Bitcoin. Just be careful of them. Don't deal with anybody without escrow the funds either it's a forum member or not. Forum members don't mean all are trusted. Just avoid PM from scammers.

[RickDeckard]

For privacy, you can try hodlhold, bisq or localcryptos.

Besides these good alternatives from Charles-Tim I would just add localbitcoins to the list. If you use these websites you won't need to provide any kind of personal information and you'll be dealing with real people (hence the name P2P). Whichever option would work out well for you.

To send a transaction of BTC you might as well follow this tutorial for Jaxx Liberty -> https://www.bitprime.co.nz/knowledge-base/send-cryptocurrency-using-jaxx/

As a warning note, whatever you do, quadruple check your destination address to make sure that you're putting the right one. If you miss any character or number your BTC will be lost forever and you won't have an option to have it back.

[LeGaulois]

Besides Bistamp, there is also Kraken.
Both are well established and have a strong reputation among people. It's also some of the most used by Europeans (since you mentioned being German). You have zero risks to be ripped off.

You could use P2P marketplaces like the ones that have been suggested above (a lot of german people on Bisq by the way) but since you look not so familiar with the crypto industry, I would suggest using centralized exchanges for convenience instead. Once you get the hang of it you can start exploring more with P2P or decentralized platforms afterward.

You have to remember you deal with people, and you may have some "risks" to consider. There are many things you can think about. The marketplace can freeze your account, you may receive a chargeback on the SEPA transaction (even if it's harder, it's still possible to do it) , etc...
While when you deal with a company you can be more confident.

I don't know how you managed to trust this website with your money. There is only 1 page with a simple widget and nothing else. A simple search on Google and you can see only red flags


https://fr.trustpilot.com/review/bitcoinscashout.com?languages=all
https://www.reddit.com/r/Scams/comments/7iu945/bitcoinscashoutcom_is_a_scam/ (4 years ago)
https://repdigger.com/reviews/bitcoinscashout-com
https://bitcointalk.org/index.php?topic=3705146.0

[Hendrik S.]

Hello All.  Thank-you very much for your responses.  This helped a lot!