Cheapest Way To Cashout Bitcoin SV to Bank Account?

[jerry0]

I want to claim the bitcoin sv fork.  After I claim it, I would want to sell it.  My issue is lot of the exchanges, I do not believe I could use due to my citizenship and location.  And they might KYC you because of it.


Someone had suggested if that is the case, use those exchange sites like changelly and changenow and I see these two exchangers do have Bitcoin SV.


Now if I want to trade bitcoin sv, what should I convert it to?



I just took a look at those exchanger sites.  Apparently changenow allows trading of bitcoin SV.  I took a look and see if i trade bitcoin Sv for other coins like btc or say stablecoins... it shows the amount you would get.  Now as of right now it seems that bitcoin SV prices is around 85.60 right now.


Now if it convert 1 bsv to a stablecoin, this is what I would get for a BSV


84.256872 USDT Tron
83.837567 USDT ETH
84.236875 USDT OMNI
84.369794 USDT BSC
83.86977 USDC  ETH
84.363286 BUSD Binance Chain
83.935872 BUSD ETH
83.750564 UST  LUNA
83.990495 DAI  ETH
83.776892 TUSD ETH
83.949664 USDP  ETH
82.620064 GUSD  ETH



So basically the fee you pay for using changenow is around 1.3 to 3.5% roughly when changing to stablecoin?  But fee is usually around 2% on average?  Obviously that is a lot compared to a regular exchange but not bad if you want a way to trade it.


Why do they give you such a bad rate on GUSD?  The best rate seem to be USDT BSC for stablecoins.  I assume the best rate is because the fees for them to send it to you is cheap right?  That is why stablecoins on the Tron or Binance or BSC chain give you more for your BSV?



When I convert it a BSV to BTC, seems like you get around 0.0021419 btc which comes to around 84.48 per BSV which seem to offer the highest value?  So basically if you trading for a coin on these places, is trading for BTC going to give you the best rate for the coin you want to get rid of?



So you paying around 1.3% roughly to convert BSV to BTC?  So they make off money by giving you a lower rate right and nothing else?


When you do these transactions, how much sending fees are you paying on your end to send to them?  Example how much fees would I pay when I send BSV to them?  Is it the default BSV from my BSV vallet?  How long does it take normally for them to send you the coin you wanted for?  Do you need an email or anything?  Has there been cases where changenow or those sites take a long time to send you the coin?  Is it best to test a small amount first to see it works.  Then do the entire amount of BSV you want to do?

[jerry0]

I like to add... I would either coinbase or gemini to cash out the funds to fiat USD.  But from checking online, gemini does not support any stablecoins besides GUSD?  Coinbase supports USDT but only ETH chain. But I read coinbase pro supports USDT Tron?  So if this is the case, would the cheapest option be trade bitcoin sv for USDT Tron?  Now could I have USDT Tron sent directly to coinbasepro exchange or is that a bad idea?  I always heard sending funds from gambling sites to coinbase and vice versa is bad.  But what about with exchangers like changenow?  If I have the USDT Tron sent directly to coinbasepro, how much fees do I pay to convert that amount of USDT Tron to FIAT USD on coinbase pro?


Or is it best to convert bitcoin sv to btc and then either have the btc sent directly to coinbase pro and then sell it for FIAT?  Or is it better to have the btc sent to your own wallet from changenow... then send the btc to coinbase pro? 



The thing is in the first scenario, well if I have USDT Tron sent to me first... and then me sending it to coinbase pro... I would need to have USDT Tron in order to send the USDT Tron from my wallet to coinbase pro which I do not have.  Thoughts on all these options?  Again its converting Bitcoin Sv into Fiat.

[jerry0]

Can someone here tell me what is the best method to do this?

[Fundamentals Of]

What is the big problem here? Just convert all your Bitcoin SV before it finally crashes down and that's it. If I were you I would convert my Bitcoin SV to Bitcoin since that is the best way for you to make the most value of your Bitcoin SV, and then withdraw and keep your Bitcoin to your personal wallet. If you are thinking of the transaction fee when you withdraw your Bitcoin, you will choose cheap altcoins but that would require you another round of conversion. So do it straight with Bitcoin instead.