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Author Topic: Selling Bitcoins Process Question  (Read 1104 times)
AnonBitCoiner
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October 25, 2014, 11:29:15 PM
 #1

So, say someone were to buy a bitcoin, and hold onto it for awhile; when/if the value skyrockets again, what would the ideal way of selling it be? Which reliable method do y'all use, and is it more recommended to make direct trades, exchanges, or participate in P2P trading marketplaces?
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chogath
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October 25, 2014, 11:48:38 PM
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go to localbitcoins.com? thats one option.
bitnanigans
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October 26, 2014, 01:19:49 AM
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I usually just use an exchange. I have my account verified, so the process after that is fast and straightforward.
AnonBitCoiner
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October 26, 2014, 02:41:04 AM
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I usually just use an exchange. I have my account verified, so the process after that is fast and straightforward.

Which exchange do you like to use?
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October 26, 2014, 03:40:30 AM
 #5

I usually just use an exchange. I have my account verified, so the process after that is fast and straightforward.

Which exchange do you like to use?

I have always had good luck with coinbase.  If you are US its great.  I personally make a checking account just for it and makes it pretty easy.  The new account makes it were my real checkings is not mixed all up with BTC stuff, makes it much easier to track.

But personally I don't exchange much.  I am a long term holder.
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October 26, 2014, 05:13:21 AM
 #6

I usually just use an exchange. I have my account verified, so the process after that is fast and straightforward.

Which exchange do you like to use?

I've used BTC-E previously, but I mostly use Bitstamp now. Verification is easy and withdrawals were cheaper than on BTC-E. I also just tried Cex.io a few days ago (not for anything major, was just checking out the GHS) and they seem quite alright.
AnonBitCoiner
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October 26, 2014, 05:15:38 AM
 #7

Alright! Thanks, both of you. I'll look into it. Yup, I'm US-based; when I do end up making purchases, I'll probably make another checking account specifically for tracking purposes. Just gotta decide how much to invest haha
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October 26, 2014, 06:14:37 AM
 #8

Alright! Thanks, both of you. I'll look into it. Yup, I'm US-based; when I do end up making purchases, I'll probably make another checking account specifically for tracking purposes. Just gotta decide how much to invest haha

I'm in the US as well, and I'm using Coinbase connected to a separate bank account for trading. I've never had any issues with it, and the few mBTC I leave in the Coinbase web wallet are useful for buying Humble Bundles without needing to pay transaction fees and wait for a confirmation (since they use Coinbase to accept bitcoin payments, offchain transactions are an option). I've heard occasional complaints about them, but I've never encountered of them personally, so YMMV.

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pooya87
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October 26, 2014, 06:32:47 AM
 #9

the important thing to keep in mind is "always invest what you can lose"
in my experience you can only hope that the price will skyrocket again and reach amounts more than 1K$, nothing is certain a quick search shows that mostly it is believed that the price of bitcoin is headed that way though
and also for keeping large amounts of bitcoin, first you have to learn how to secure it. search for cold storage.
and to answer your question about exchangers i use BTC-e and Cex.io, i found them suitable for myself
and i bookmarked this thopic for myself and found it useful, its been going on for a while hope it helps
https://bitcointalk.org/index.php?topic=576887.0

AnonBitCoiner
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October 26, 2014, 06:59:53 AM
 #10

Haha alright. I think I'm gonna try coinbase, least for selling. I hear that it takes awhile for transactions to get processed though. Any money I invest in this venture would be extra cash I'm not spending, so I can "afford to lose it", though I hope that doesn't happen
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October 26, 2014, 07:18:38 AM
 #11

You can also use Circle.

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-Epicuru$
AnonBitCoiner
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October 26, 2014, 07:47:18 AM
 #12

I hear that Circle is also viable since it transfers quickly. I have an account with both coinbase and circle; just gotta decide which one to try first
notlist3d
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October 26, 2014, 01:45:13 PM
 #13

Haha alright. I think I'm gonna try coinbase, least for selling. I hear that it takes awhile for transactions to get processed though. Any money I invest in this venture would be extra cash I'm not spending, so I can "afford to lose it", though I hope that doesn't happen

They have different levels of service.  A while back they added have a credit card on file, they don't use it sunless bank would deny transaction.  If you do this level of verification you can get instant coins i believe up to a point.

But if not you have to wait a few days for bank to transfer money to them.
AnonBitCoiner
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October 26, 2014, 06:21:01 PM
 #14

I can verify a credit card and provide any additional identification required to maximize efficiency of the payment processing. Have you ever experienced any problem with circle/coinbase?
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October 27, 2014, 02:01:28 PM
 #15

Bitstamp or btc-e goods for exchange, you can also use the localbitcoins site.
BitcoinAddicts
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October 27, 2014, 02:53:20 PM
 #16

cex.io is good too....

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October 27, 2014, 03:57:59 PM
 #17

not hard to do, just go here on the currency exchange sub section look for legit rep escrowers.

or just do localbitcoins.com.  Smiley
AnonBitCoiner
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October 27, 2014, 04:11:53 PM
 #18

Dayuuum, localbitcoins is really cheap. On a side note, when it comes to receiving BTC as a form of payment, would I just give the same deposit address I use for faucets?
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