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Author Topic: Turning BTC into cash.  (Read 1398 times)
polygamy
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July 11, 2012, 05:14:55 PM
 #1

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vampire
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July 11, 2012, 05:21:19 PM
 #2

Lets pretend that I have $1337usd worth of btc in a wallet. how can I turn my btc into cash that either gets deposited into my bank account or actual physical cash.

I'm also interested in money pack cards. i don't 100% understand them, but it seems like they would work. please keep things simple.


Mt. Gox -> Dwolla -> US Bank (ACH transfer)
Mt. Gox -> wire transfer -> any bank
Nyhm
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July 11, 2012, 06:37:15 PM
 #3

This is an important question for any new user of Bitcoin. I'm also interested in the community's view of the simplest BTC-to-USD(etc) process. Although Mt.Gox seems like the primary exchange, their process sounds anything but simple to me.

Caveat: I have not yet changed any of my few BTC to USD. I have not yet used their service, but FastCash4Bitcoins looks very simple.

Edit: Had originally listed BitInstant, but meant to list FastCash4Bitcoins. I have nothing against BitInstant, it's just not the service I was thinking of. Sorry for any confusion.

~ Bitcoin Game List
~ "Mathematicians overlook that computation is bounded by Physics. Computer Scientists lament it. Cryptographers depend on it." -- Nyhm c. 2012
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TangibleCryptography
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July 11, 2012, 06:39:04 PM
 #4

How about FastCash4Bitcoins ?

Step 1) Create a sales order.
Step 2) Send your bitcoins to the unique single use deposit address provided.
Step 3) Get cash.
Step 4) I lied there is no step 4.

You lock in a price BEFORE depositing the coins.  No exchanges; no excuses; just fast payouts!

If you want to create an order to test it out.  Any unfunded orders simply expire after 15 minutes so there is no obligation.
IamRichard
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July 11, 2012, 09:39:56 PM
 #5

How about FastCash4Bitcoins ?

Step 1) Create a sales order.
Step 2) Send your bitcoins to the unique single use deposit address provided.
Step 3) Get cash.
Step 4) I lied there is no step 4.

You lock in a price BEFORE depositing the coins.  No exchanges; no excuses; just fast payouts!

If you want to create an order to test it out.  Any unfunded orders simply expire after 15 minutes so there is no obligation.


Have you tried this site yourself?

Lethos
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July 11, 2012, 09:48:13 PM
 #6

If you have a large amount of coins, their are bitcoin friendly payment processors like OkPay.
They do transfers in all types of currencies, including virtual ones.

However, if you are okay with trusting mt. gox, then it's probably the best way forward.


Lethos Designs | UK BTC Seller -  Local Bitcoins | BTC OTC Rating | 1EFhXfX9uXsbXBF3LC69GiVfS3SHCsyMR1
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TangibleCryptography
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July 11, 2012, 09:52:04 PM
 #7

Have you tried this site yourself?

FastCash4Bitcoins is a service of Tangible Cryptography LLC. Smiley
StringTheory
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July 11, 2012, 10:08:18 PM
 #8

Right now there doesn't seem to be too options.  I have heard of a few places to help you distribute your BTC locally but havn't tried or looked into them myself.

Successful Transactions: jayson3 +1
Lethos
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July 12, 2012, 07:24:07 AM
 #9

Have you tried this site yourself?

FastCash4Bitcoins is a service of Tangible Cryptography LLC. Smiley

Btw you site comments on any sale being over the maximum allowed to be sold, once it's over the min, since the max for all that were available to me, were 0. So either you need to set a high max, or have it not comment on the values concerning it's too high, if the max is 0.

Lethos Designs | UK BTC Seller -  Local Bitcoins | BTC OTC Rating | 1EFhXfX9uXsbXBF3LC69GiVfS3SHCsyMR1
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TangibleCryptography
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July 12, 2012, 11:51:14 AM
 #10

Have you tried this site yourself?

FastCash4Bitcoins is a service of Tangible Cryptography LLC. Smiley

Btw you site comments on any sale being over the maximum allowed to be sold, once it's over the min, since the max for all that were available to me, were 0. So either you need to set a high max, or have it not comment on the values concerning it's too high, if the max is 0.

The max is $0 for all payout options because we have exhausted our funding.  25,000 BTC bought in the last two weeks.

FastCash4Bitcoins support thread
Lethos
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July 12, 2012, 01:50:34 PM
 #11

Have you tried this site yourself?

FastCash4Bitcoins is a service of Tangible Cryptography LLC. Smiley

Btw you site comments on any sale being over the maximum allowed to be sold, once it's over the min, since the max for all that were available to me, were 0. So either you need to set a high max, or have it not comment on the values concerning it's too high, if the max is 0.

The max is $0 for all payout options because we have exhausted our funding.  25,000 BTC bought in the last two weeks.

FastCash4Bitcoins support thread

Fair enough, to me that was not obvious.
I wrongly assumed it was 0 for no limit, not that you actually couldn't sell any BTC right now.
Guess business is good?

Lethos Designs | UK BTC Seller -  Local Bitcoins | BTC OTC Rating | 1EFhXfX9uXsbXBF3LC69GiVfS3SHCsyMR1
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TangibleCryptography
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July 12, 2012, 02:01:47 PM
 #12

Fair enough, to me that was not obvious.
I wrongly assumed it was 0 for no limit, not that you actually couldn't sell any BTC right now.

The fault would be with our site then.  Improved UI is on the way.

Quote
Guess business is good?
Yes although price spikes always bring sellers off the sidelines.  Smiley The largest issue is the slow (other than bitfloor) handling of fiat funds by exchanges.  We hope to improve our cashflow turnaround times (USD->BTC->USD) with a couple of ideas coming this month.  That should make running out of funds a less frequent event.
mentalove
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July 12, 2012, 02:07:49 PM
 #13

How about FastCash4Bitcoins ?

Step 1) Create a sales order.
Step 2) Send your bitcoins to the unique single use deposit address provided.
Step 3) Get cash.
Step 4) I lied there is no step 4.

You lock in a price BEFORE depositing the coins.  No exchanges; no excuses; just fast payouts!

If you want to create an order to test it out.  Any unfunded orders simply expire after 15 minutes so there is no obligation.



this site looks good, thanks you Smiley
Timbert33
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July 12, 2012, 03:00:11 PM
 #14

Have you tried this site yourself?

FastCash4Bitcoins is a service of Tangible Cryptography LLC. Smiley

Btw you site comments on any sale being over the maximum allowed to be sold, once it's over the min, since the max for all that were available to me, were 0. So either you need to set a high max, or have it not comment on the values concerning it's too high, if the max is 0.

The max is $0 for all payout options because we have exhausted our funding.  25,000 BTC bought in the last two weeks.

FastCash4Bitcoins support thread

Hey TC, I'm glad you posted in a newbie thread so I can actually reply Tongue. Your site is awesome, and I did my first test withdrawal for ~70 btc by ACH overnight yesterday. It's pending in my bank account now (but the funds are listed as available) so everything looks good, hopefully it finalizes today.

Your service is really awesome! I want to use it more, so please get some more USD =D. Look forward to using it in the future. Thanks for everything!
fankih
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July 12, 2012, 03:48:42 PM
 #15

I could buy some BTC with PayPal/MoneyBookers/Bank wiring or via Escrow in €'s or $'s.

PM Me Smiley

-fankih-

-fankih-
TangibleCryptography
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July 13, 2012, 01:16:38 AM
 #16

Hey TC, I'm glad you posted in a newbie thread so I can actually reply Tongue. Your site is awesome, and I did my first test withdrawal for ~70 btc by ACH overnight yesterday. It's pending in my bank account now (but the funds are listed as available) so everything looks good, hopefully it finalizes today.

Glad to hear it.  Yeah that overnight ACH is almost as good as a bank wire at a fraction of the cost.

Quote
Your service is really awesome! I want to use it more, so please get some more USD =D. Look forward to using it in the future. Thanks for everything!

Bank account is refunded.
rxw
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July 13, 2012, 02:45:36 AM
 #17

Selling BTC for paypal is kinda dodgy because the buyer can cancel the transaction after you give him your BTC and then you're SOL. There are reloadable debit cards you can supply with BTC and I think there's a way to add to your current credit card
eddyubachs
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July 13, 2012, 11:24:41 PM
 #18

i always convert my bitcoins to liberty reserve and then buy ukash cards or paysafecards with it. Then I fund my neteller with the ukash card or paysafecard. You can then withdraw by bank account or with a neteller prepaid mastercard
purelithium
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July 13, 2012, 11:27:41 PM
 #19

For Canada there's www.cavirtex.com which is basically the Mt Gox of canada.

Like my post? 1H7bfRYh7F89mfmFgsRCdn4awDaUHQmYqY
TangibleCryptography
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July 14, 2012, 12:25:44 AM
 #20

i always convert my bitcoins to liberty reserve and then buy ukash cards or paysafecards with it. Then I fund my neteller with the ukash card or paysafecard. You can then withdraw by bank account or with a neteller prepaid mastercard

Wow that is a lot of steps.

Why not just get funds sent to your bank account or prepaid card directly by ACH?
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