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Author Topic: selling my mined btc for euro instead of usd  (Read 4715 times)
rkinnin
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November 20, 2014, 06:17:58 PM
 #1

Wouldn't it be better for me to sell my mined btc for EURO instead of USD?? I typically sell the mined product on coinbase.

would appreciate any and all thoughts.

thanks!
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hua_hui
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November 21, 2014, 08:33:37 AM
 #2

I think It should depend what currency you are using to pay for the electricity and overhead of mining business.


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NgGiselle
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November 21, 2014, 08:40:06 AM
 #3

Is it because of the higher price? The verification process of other exchanges may be more difficult than coinbase's. If you choose to exchange it to eur, wire transfer and currency conversion fees may apply. it can take some percentage of your payout.
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November 21, 2014, 02:07:35 PM
 #4

Not sure what you are asking here.

I deal with dollars, bitcoins and euros.

The exchange prices are almost the same with the exchange rate.

I have found that there is a high demand in Europe for getting your euros into bitcoins as most exchanges make it very difficult.

But it helps to take out what you use to pay for things.

Then again, you should not be selling your mined btc.

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November 21, 2014, 02:19:21 PM
 #5

like it has been said fees fees fees but arbitrage
between currencies and btc can be very profitable
and at most times can be up to 5% to 10%
As bitcoin makes larger gains it can take some time for all currencies to correct their value
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November 21, 2014, 05:24:22 PM
 #6

If you're asking if you should hold some euro instead of USD, that might not be a bad a choice.

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November 22, 2014, 10:22:07 AM
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Our trouble isn't explaining this to children, they'll be able to learn about it on their own, the trouble is the grown adults who are in total denial about it.
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November 22, 2014, 12:03:11 PM
 #8

Why would Euro be any better than USD? It's both worthless fiat money.

Unless you're in the Euro zone there's no advantage.

Better sell them for precious metals. Or just keep Bitcoin and spend them directly on things you need.

ya.ya.yo!
John999
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November 22, 2014, 04:34:45 PM
 #9

The euro is weak lately. Take USD.
Swordsoffreedom
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November 23, 2014, 08:23:48 AM
 #10

Wouldn't it be better for me to sell my mined btc for EURO instead of USD?? I typically sell the mined product on coinbase.

would appreciate any and all thoughts.

thanks!

It depends on which one you think will apreciate more in price
Considering the Eurozone and the USD are both in a mess of sorts
I would say go with the dollar for now but if the arbitrage gets significant switch.

rkinnin
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November 23, 2014, 03:26:17 PM
 #11

Why would Euro be any better than USD? It's both worthless fiat money.

Unless you're in the Euro zone there's no advantage.

Better sell them for precious metals. Or just keep Bitcoin and spend them directly on things you need.

ya.ya.yo!

Is there a way to buy metals directly with btc??
onemorebtc
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November 23, 2014, 03:31:55 PM
 #12

i like localbitcoins. did many eur trades their: but i guess it depends on your location and volume

transfer 3 onemorebtc.k1024.de 1
Gargulan
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November 23, 2014, 03:34:37 PM
 #13

Does it really matter if you sell it in Euro instead of USD?

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November 23, 2014, 05:58:26 PM
 #14

Why would Euro be any better than USD? It's both worthless fiat money.

Unless you're in the Euro zone there's no advantage.

Better sell them for precious metals. Or just keep Bitcoin and spend them directly on things you need.

ya.ya.yo!

Is there a way to buy metals directly with btc??

Yes! In fact precious metals were among the earliest goods offered for bitcoin.

For example:
https://www.amagimetals.com/
Thread: https://bitcointalk.org/index.php?topic=130831.0

Just as an example - I'm not endorsing this particular dealer, there are a lot of other options to buy gold/silver with bitcoin. Just search around.

ya.ya.yo!
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November 23, 2014, 05:59:35 PM
 #15

To OP,

your profile says you live in New York... so why buy Euros?

The USD is very strong and may get stronger against Euro an other currencies. But perhaps, if you don't need the money right away, you may want to sell the Bitcoin to Euros, or even Japanese Yen. Something that has been beaten up. And wait until these currencies bounce.

If you feel like you can place  riskier bet, I would trade them to Russian Rubles and wait a year or so to triple your money Smiley



neurotypical
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November 23, 2014, 07:05:12 PM
 #16

EUR is trash these days. Get on some migthy dollar, it cant fail.
sonofacoin
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November 23, 2014, 08:37:42 PM
 #17

EUR is trash these days. Get on some migthy dollar, it cant fail.

That is why you want to invest in Euro... because it is trash now.

Buy High Sell Low Much?
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November 24, 2014, 12:23:24 AM
 #18

The safest option is always to diversify. Get both currencies, $ and €. Some Swiss francs and British pounds are also nice.

If you're looking for a trading/lending place,
better avoid Poloniex, as it socializes losses.
Learn more about it on this topic.
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November 24, 2014, 02:05:20 AM
 #19

The safest option is always to diversify. Get both currencies, $ and €. Some Swiss francs and British pounds are also nice.


I agree with diversification in general but the idea above is terrible.

In the case of currencies you are pretty much generating a Zero Net Return. For instance the dollar goes up, the euro goes down. And viceversa, that is how it works.

Diversification that works would be buying into a currency, then into a commodities like coffee, and then get some equities like stocks in Apple.
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November 24, 2014, 04:04:13 PM
 #20

Vote for : US $

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