Sending BTC from Canada to Dominican Republic; most cost effective way

[dom5684]

Good day to all


Most cost effective way to buy BTC, send it from Canada to Dominican Republic and convert it into local currency?


Thank you for your advice

[1714691156]

1714691156

[1714691156]

1714691156

[Pmalek]

Sending Bitcoin from Canada to the Dominican Republic or sending to your friend who sits next to you can be cheaper or more expensive depending on the number of inputs/outputs, type of addresses, fee rate, or the type of wallet/service you are sending from. Bitcoin doesn't have such geographical restrictions, nor does the amount affect the final transaction fee.

The most cost affective way is one that doesn't involve any middlemen or 3rd-party services that take a cut. That means exchanges.
You buy the coins P2P. Give the person fiat or cash face-to-face, and they send the BTC to your private wallet. Or they can send immediately to an address provided by your contact person in the Dominican Republic. When the user in Dominica gets their coins, they can also sell it P2P to someone locally in exchange for cash if there is a market there.

- No banks
- No centralized exchanges
- No KYC
- No questions by banks or government agencies about purpose of transactions or source of funds.

[BlackHatCoiner]

Are you looking to make this in the most anonymous manner possible? If that's so, you should trade peer-to-peer with cash, as Pmalek explains above, and mix coins periodically. But note this isn't the most cost effective way. First of all, due to lack of liquidity, with whomever you deal with, prepare to be charged a lot. Also, prepare some safety measures if you don't use escrow.

I don't know about banks in Canada, but the most cost effective way is to sell using a no-KYC intermediary that charges minimum (e.g., Robosats), while also retaining some decent privacy.

[Pmalek]

Are you looking to make this in the most anonymous manner possible? If that's so, you should trade peer-to-peer with cash, as Pmalek explains above, and mix coins periodically. But note this isn't the most cost effective way. First of all, due to lack of liquidity, with whomever you deal with, prepare to be charged a lot.

It doesn't necessarily have to be expensive. OP lives in Canada, and there is surely a solid market for P2P deals. Of course, if you are using a P2P marketplace, you should expect to lose a few percent on any deals. But finding someone for a proper 1/1 deal in a big Canadian city shouldn't be difficult.

Our favorite mixer is no longer around. @dom5684 If you are going to mix your coins, mention here which one you would like to use. Sinbad is one option, for example. I wouldn't suggest using a mixer if the coins are going to end up on a centralized exchange or service by whoever is going to use them in the Dominican Republic. I would personally not want to find myself in a situation of explaining to their support why I am using mixers, what the source of the funds is, etc. 

[bitmover]

Good day to all


Most cost effective way to buy BTC, send it from Canada to Dominican Republic and convert it into local currency?

Bitcoin protocol know no borders. It is borderless.

Canada and domincan Republic doesn't exist in bitcoin protocol.

Just send your coin from your address to your friend address. He will convert it to fiat in Dominican  Republic in a local exchange

[NeuroticFish]

Most cost effective way to buy BTC, send it from Canada to Dominican Republic and convert it into local currency?

This is not a technical question. It's more a question about services.

You want us to know all the exchanges - centralized, decentralized, OTC - and also individuals willing to exchange and compare all the prices and fees for you?!
It's like asking where it's cheaper to get strawberries from, without mentioning if it's about 1kg or 100 tons (which means different problems, opportunities and prices).
So, yeah, good luck with that...

As said, if you can find P2P deals, face to face, without getting ripped off, it could be a good option. Transfer price is small if you do it yourself and you know what you're doing. Selling in Dominican Rep. .. no idea at all...

[dom5684]

Thank you for your answers; very helpful

Good day to all

[Reynaldo]

Hello,

You can also use elmomento.io / trade.elmomento.io my own otc desk.

[hZti]

Well the best would always be to find a local buyer depending on the amount of bitcoin. If you can not find a local buyer and have also no possibility to spend your bitcoins directly then you can try to find an exchange that is available in the Dominican Republic. What you will need to consider is that there can be a lot of KYC involved, so it is easier to leave the bitcoins not exchanged, as long as you do not actually convert them.