Harry August 3, Mish Talk — Global Economic Trends. Analyze the market carefully to decide whether you want to sell or hold. Still, if you have some extra money and want to do your best to ensure safety, hardware is a solid bet. Yes, there are several companies that specialize in facilitating bill payments in cryptocurrency. Corporate Governance.
Bitcoin is not liquid
By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyaill our Terms of Service. A friend of mine gave me two bitcoins which I now want to sell. I don’t understand the process which would enable me send the funds generated to my bank account. Although you can find a more comprehensive list here on the Bitcoin Wiki, some of the most popular exchanges in the community are:. You can exchange your yoy for US dollars on these websites and have them funded to your bank account.
Ask an Expert
I bought my bitcoin through Coinbase, the most popular mainstream exchange for bitcoin and two other cryptcocurrencies, ether and litecoin. Such Coinbase crashes have occurred sporadically during heavy trading days since , at least. Another popular exchange, Kraken, has had similar outages. Those giant price gains are luring rabid investors hoping for a cut of the action, with soaring demand, in turn, pushing prices even higher. But if there are buyers there have to be sellers, and normal financial markets depend utterly on the ability to transact quickly, at known prices, no matter how volatile price swings may be. Buyers and sellers must be able to transact with the least possible interference, no matter how high or low the price goes.
A simple guide to cashing out your bitcoin for US dollars or another cryptocurrency.
By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyand our Terms of Service. A friend of mine gave me two bitcoins which I now want to sell. I don’t understand the process which would enable me send the funds generated to my bank account. Although you can find a more bqnks list here on the Bitcoin Wiki, some of the most popular exchanges in the community are:. You can exchange your bitcoins for US dollars on these websites and have them funded to your bank account.
The usual procedure would be to deposit the bitcoins into a bitcoin exchange, sell them there, and withdraw the cash to your bank account. You will have to identify yourself to the exchange, and the exchange must be able to send money to your bank. After that it should give you the money whitout the processing charges. Bitcoins can not be withdrawn into a bank account directly. You can either sell them to somebody who then transfers money to your bank account, or you can will banks be mad if you buy sell bitcoin them at an exchange and withdraw the funds from.
The first method may be quicker to set up but is a bit more risky. However, given the recent Bitfinex hack, having money at an exchange is not without risk. A few exchanges are listed. These are online market places that buy and sell bitcoins. Most probably you’ll need to create an account these accounts are used to trade on the site, it is not your bank account on these sites to trade.
You can trade your bitcoins for any currency that is available on the site. If you need to convert to a currency that is not listed on the site, convert your bitcoins to a general currency like US Dollar or Euro and then use a normal forex market or bank to exchange it for the currency of your choice.
In Australia buying and selling Bitcoins is just a matter of using their site to find a reputable vendor. Often I’d be dealing with the same vendors on a regular basis. LBC has escrow, so it’s just a matter of initiating the trade, and using bank details to fund a purchase or get funded for a sale.
It with vendors that have the same bank usually means overnight; but trusted vendors can transfer or receive funds straight away in most instances.
I’ve bought and sold bitcoins thousands of times over the years and xell had an issue with being scammed. Unfortunately it’s currently not an easy thing to do, to go back and forth from cash to bitcoin. I still haven’t figured out a good way either, only that the reason it seems to be so hard is because our governments have all these laws and regulations designed to keep us banis easily doing.
So there’s no great answer to this right now, but the typical responses would be circle. There are some sellers from marketplaces like LocalBitcoin paying from stolen Paypal accounts etc — if the offer is too good to be true there usually is a trick As mentioned in the other posts on this page, you have two options: 1 Use btcoin official Exchange 2 Use PayPal as an Bankx.
Seeing that there are certain aspects that make using PayPal for this unwanted, I would suggest going to an official Exchange. The one I use currently is:. You can Google for «bitcoin to paypal exchange» which would carry the funds to your Paypal account and then you can again carry the funds to your bank account easily. That’s the best way. Home Questions Tags Users Unanswered. How can I sell bitcoins and transfer the funds to my bank account?
Ask Question. Asked 6 years, 1 month ago. Active 6 months ago. Viewed k times. Nate Bansk Further question. If you use coinbase, for example, you need to provide bank account. Then, it is kind of defeating the purpose of using bitcoin for anonymity, isn’t it?
Buy some stuff for it. There are lists with vendors accepting bitcoins. Using bitcoin is reasonably anonymous. Converting bitcoin to cash is «using cash», which is not anonymous. Sam Weinberg Sam Weinberg 1 1 gold badge 6 6 silver badges 14 14 bronze badges. Will banks be mad if you buy sell bitcoin see bitcoincharts. From what I have heard, Payza is now doing bitcoin, not sure how the service is, but may be worth mentioning. Dorsi-Todaro Dec 25 ’14 at Is Coinbase reputable? There are an overwhelming number of repots of people claiming they stole their money.
Also they require your bank account login password. Seems sketchy. Do any of those allow instant withdrawals to a bank account? Jorge Stolfi Jorge Stolfi 51 1 1 silver badge 1 1 bronze badge.
YoMismo YoMismo 3 3 silver badges 6 6 bronze badges. Could you expand this? So I need to go in front of ATM with a mobile wallet and send btc to an address and then take the cash? I haven’t used the service, but it surely be as simple as reaching an ATM, you will be presented with a QR code or the address where you need to send the bitcoins, and as soon as the transaction is confirmed the ATM will give you your money.
How long will it take for the transaction to be confirmed is something I don’t know, ATM may take the risk and won’t make you wait or you may have to wait some time for the transaction to be confirmed. You will need to check bittcoin with the ATM.
But are a couple of ways to sell bitcoins for fiat currency like USD, Euro,etc Directly trade with someone who wants to buy bitcoins using currency. I’ve always been a fan of LocalBitcoins.
ElRey ElRey 4 4 wll badges. As mentioned in the other posts on this page, you have two options: 1 Use an official Exchange 2 Use PayPal as an Exchange Seeing that there are certain aspects that make using PayPal for this unwanted, I would suggest going to an official Exchange. I use this way myself, it’s easy as well as secure. Vrushank Vrushank 1. Why add an extra transaction layer? Topic starter did not ask for PayPal specifically Pay Pal may be one of the easier babks, but I wouldn’t ever recommend it with bitcoin or any crypto currency.
Featured on Meta. Update: an agreement with Monica Cellio. Linked 3. Related 4. Hot Network Questions. Question feed. Bitcoin Stack Exchange works best with JavaScript enabled.
The risky nature of bitcoin
Depending on your preferences on different factors when it comes to selling, you’ll likely find a way that suits what you want. Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes. The best online wallets are fairly secure, but stay cautious regardless. Selling bitvoin can wlll being more involved than simply buying them on your phone. Create your wallet, find its deposit address and then transfer your crypto from the exchange into your wallet. Analyze the market carefully to decide whether you want to sell or hold. We’ll use two different wwill as examples, starting with Coinbase. Thank you for your feedback! Personal Finance Essentials. There are several different brands of ATMs with differing methods of verifying your ID and bitcoin address, but the general steps to using them are: Press «Buy bitcoins.
Comments
Post a Comment