How Can Someone Convert A Cryptocurrency To Real Cash?
How can someone convert a cryptocurrency to real cash? Just did it yesterday. Wife needed photo camera and it was around 5000$. I took 35000 of Stellar from my Ledger wallet. Bought LTC. (because it works faster than BTC) Today I received money. I bought camera using credit card and got points for that. Today closed yesterday's transaction. Ez Originally Answered: Can all cryptocurrencies be converted to real cash? Technically yes - the token must be listed on an accessible exchange - and there must be liquidity for it in the currency you need New, modern exchanges like 1 Exchange. 1 Bank. 1 World. are coming up to power fiat/crypto across ALL tokens and currencies - by launching off a financial/institutional mothership ( COINTYPE.IO Swiss Bank in this case). Other wallets and exchanges also help - like Coinbase and Kraken. Continue reading >>
Dancing With The Devil: Cashing Out Cryptos Into Fiat Not So Easy
Dancing With the Devil: Cashing Out Cryptos Into Fiat Not So Easy Bitcoin and other cryptocurrency assets are precious and some of them have grown over 1300 percent in value this year. Although, with the price on exchanges being higher than ever before its now a bit more difficult for those who want to cash out or make significantly large purchases without being watched by the prying eyes of tax collectors and governments. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Lately across social media and forums, you can find posts written by individuals who have cashed out. Maybe they bought a luxury car like a Lambo, paid off their mortgage, or cleared their student loans with cryptocurrency gains. However some of conversations online concerning how to cash out detail how difficult it is without being watched, or being stopped by the third party payment processors. With cryptos so valuable, many people think that they can casually buy a Lambo these days. For instance exchanges like Coinbase, Bitstamp, Kraken, and many others require a good amount of verification to revert bitcoins to fiat or vice versa. And just because you are approved it doesnt mean youll be able to throw US$100,000 worth of BTC down on an exchange and expect to have the funds sent to your bank account without issue. The exchange may cancel the process even after the sale has been made. Furthermore, on the bank side, your financial institution may also stop you from cashing out large sums or freeze your account . Typically in the U.S. and many other regions, anything between $5,000-10,000 deposits and withdrawals are monitored for money laundering and tax evasion. In essence, if you want to exit back to fiat using an online exchange to process $5-10K, you hav Continue reading >>
How To Cash Out Bitcoin & Other Cryptocurrencies To Fiat
How to Cash Out Bitcoin & Other Cryptocurrencies to Fiat Daniel Dob on December 13, 2017 / 0 Comments During the last couple of years, the popularity of Bitcoin and other Cryptocurrencies has increased considerably, given the large trading volume, capital invested, public interest, and of course supply and demand laws. With Bitcoin seeing all time highs of over $17,00 at the time of writing ( 12th December 2017 ), chances are that you are considering the idea of either purchasing goods or withdrawing some of the coins that you might have. This is often where new users run into trouble, as there are multiple ways to go about this and people may worry about cashing out large sums of money and want to make sure everything is safe and secure. Therefore, in this article, we will cover three of the main methods that you can use to withdraw your bitcoin into Fiat currency (or your local cash). These have been generally referred to as the safest and least-costly methods of exchanging your digital currencies into your government-issued currency. Before we go on, we just wanted to clear up exactly what we mean when we say Fiat or Fiat Currency. Fiat is currency which is issued by a government but which is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on the faith and credit of the economy. Fiat is seen as risky because it suffers from inflation, when a government decided to print more of a Fiat currency, the value of everyones money goes down as a result. This is the exact opposite of what Cryptocurrencies aimed to solve. Cry Continue reading >>
How To Turn Cryptocurrency Into Cash
Cryptocurrency Is Only As Useful As The Stuff It Can Get You In this article, were going to explain the connection with crypto coin and US currency. First off, the culture of cryptocurrency is being more widely accepted by businesses and even the government. Take a look at investor.gov where the government is trying to help understand the risk of bitcoin , you have the same outlet explaining how bitcoin can be treated as an asset. So how do you change bitcoin, ethereum , litecoin , or other cryptocurrency into cold hard cash? Lets start with a regular checking account at a bank. A Checking account is where you store US fiat currency. You can write checks, make payments, etc. From here, how does money arrive into a checking account and what are the risks? Lets start with this. There are two ways to acquire cryptocurrency. The first way is to buy it and heres how: You can go to some ATM machines to access it or you can log into an account such as CoinBase. You create an account that is linked to a checking account and now you can buy and sell cryptocurrency using finances from your checking account. So think of your CoinBase account as home base. Start by looking at your cryptocurrency wallet. Here you can see how much crypto coin you have. From here you can specify addresses to receive coins. This is accessed in your CoinBase account as well. You can either buy something like bitcoin or you can even use receive bitcoin from another persons account. You can also acquire bitcoin through mining. How does it work? Start by creating an address/account number to receive cryptocurrency. You generate cryptocurrency by running a special program that connects you with other computers to form a supercomputer that is able to track transactions, put them together, acre them and basi Continue reading >>
Converting Bitcoins To Cash
Two of the commonest questions that people who are new to cryptocurrencies ask are: How do I buy cryptocurrency X using fiat money? How do I convert cryptocurrency X TO fiat money? The first step in both cases usually involves converting to bitcoins. You either buy the cryptocurrency you want (e.g. STEEM) using bitcoins or you convert them to bitcoins (if you are selling). There are no shortage of tutorials on this. I have previously created a guide to one of my favourite methods using Blocktrades . The problem most often comes with the second step, how do you exchange Bitcoins for fiat money or vice versa? The most commonly cited method is a service like LocalBitcoins . I have heard mixed reviews for this service and can't personally comment as I have never used it. The service I always use and recommend is called Bittylicious . They have excellent customer service and I have been using them for at least 3 years without a problem. You can buy or sell bitcoins (and selected altcoins). Adequate supply (usually at least 10BTC). It is fast - usually taking a few minutes (BTC transfer is the slow part). They accept credit cards or direct bank transfers. Protection - "promise of a full refund if the payment arrives late". Fast and responsive support (UK office hours). It is actually really easy to use the site but there are a few things you will need before you can get set up to use it: A Bitcoin address (if you are buying bitcoins). Your bank details (account no, sort code etc). Your bank will need to accept fast online transfers (in the UK this is called the ( "Faster Payments" ) service. You need to be in the EU (I am not 100% sure on this though). Unfortunately I can't illustrate the registration process as it won't let me do it again (for obvious reasons). It is quite Continue reading >>
How Can I Change Btc Into Normal Cash?
Can you eventually hold the bitcoins in your hand, like real cash dollars or euros or something? If so, how? I've gone through all the service previews and introduction videos (actually, a video), and didn't see anything about this particular point. I don't have a credit card, and I'm in a country where banking services aren't so profound and people don't use credit cards (Libya). Does a Bitcoin account rely on having a credit card, and will the coins you gather be added to your bank account? I'm not sure exactly what you are looking for. Do you want to convert bitcoins into dollars/euros or do you want to be able to use bitcoins "as cash"? D.H. Feb 4 '12 at 8:58 I think the question goes something like: I am standing on my front porch and have one hundred US dollars; I want to send 100 US dollars to someone else. How do I get 100 dollars worth of bitcoins to send? user12374 Jan 18 '14 at 14:44 Bitcoins are a purely electronic currency. If you want to sell them in exchange for dollars or euros, you can do that. But as Bitcoins, they exist purely electronically. There are physical Bitcoins but basically, they're just the key to an electronic account printed in some form. I think you're missing the concept that Bitcoins act like a currency or commodity. You can have 10 Bitcoins just like you can have 10 ounces of gold. The key difference is that the Bitcoins exist electronically rather than phyiscally. If you have Bitcoins and want dollars, you have to find someone who has dollars and wants Bitcoins, then you exchange with them. Bitcoins are not a payment or fund transfer system for national currencies like PayPal and Western Union are. Bitrcoins are a currency that has an efficient built-in transfer system. Bitcoin doesn't need a bank account - your bitcoin wallet is yo Continue reading >>
How To Send Bitcoin To Any Bank Account And Cash Out Ico Proceeds
How to send bitcoin to any bank account and cash out ICO proceeds While more and more Initial Coin Offerings (ICOs) emerge these days, the recently funded companies face the very obstacle that has haunted the Blockchain industry since the start cashing out cryptocurrencies into a bank account. We built Bitwala in the heart of the German Blockchain community in 2015 to solve this very problem in a smooth and secure way. In this blog, we talk about how companies can focus more on making their roadmaps come true and less on worrying about cashing out crypto. Whether a recent ICO or an established crypto business it can be very frustrating for crypto companies to transfer their hard-earned cryptocurrencies into fiat currency. We know this because weve run into the same problem as a crypto business ourselves. Collecting and securing funds during an ICO Most companies doing ICOs collect their funds in Bitcoin, Ethereum, Litecoin and also in traditional fiat currencies like the Euro or US Dollar. Cryptocurrencies that are collected are then usually converted and cashed out into a fiat currency of choice. At the time of writing, the total amount of money raised from ICOs has reached over $3.45 billion , from a total of 211 ICOs that took place this year. Regardless of the amount collected in crypto, you will be faced with making settlements in fiat currency, be it to your legal team, rent, other third parties or even those late night pizza deliveries. While there are smart contracts, advertising and legal firms which accept payments in Bitcoin or other cryptocurrencies, for example, most third parties, not to mention probably your own employees, demand payment in local currencies. As a newly funded crypto company looking to send bitcoin to your bank account, you will encounter Continue reading >>
5 Efficient Ways To Convert Your Bitcoins Into Cash
5 efficient ways to convert your bitcoins into cash As a form of digital currency, bitcoins exist only electronically all that you can see is records of transactions between different addresses. If you want to turn your bitcoins into real paper dollars that you can hold in your hands, there is just one solution you need to find a person or a service willing to make a deal. The demand for fast and simple Bitcoin exchanging services is increasing globally. The exchange rate depends on the free market dynamic, but you can use the CoinDesk Bitcoin Price Index for reference. There are 5 main ways of performing trade operations: This selling structure supposes that you need to interact with a potential buyer directly using an intermediary website to facilitate your connection for a certain fee. Basically, it works this way: you need to choose a suitable financial service, create a sellers account and complete your ID verification to start using your account. Some services may freeze your bitcoins when you post a sell offer to prevent fraudulentactivities. When you get paid, the website will transfer your cryptocurrency to the buyer. Coinbase. You can use this financial service to transfer your bitcoins for free. If you want to sell your digital currency, you will need to pay the service fee depending on what payout method you chose: 1%-2% for a U.S. bank account, 1% for a Coinbase USD wallet, and 3.75% for PayPal. BitBargain. As for this service, the application fee for sellers whose ID hasnt been verified yet is 0.005 BTC (or 0 BTC if the ID has been verified), the commission for trading operations is 1%. If you want to receive an SMS message, you will need to pay 0.0003 BTC, a banking verification procedure costs 0.02 BTC. If you want to sell your cryptocurrency directly a Continue reading >>
Coinbase | How Do I Sell Or "cash Out" My...
Select thewallet you wish to sell from (typically your BTC Wallet). Select the account you wish to deposit to (such as your linked bank account). Note: you may use the "SellMax" button to sell the entire balance of the selected wallet Confirm the order is correct and click Sell Bitcoin. Tap the menu icon near the top left of the screen to open the Navbar. Enter the amount in BTC or your local currency that you wish to sell. Select the bank account or currency walletyou wish todeposit into. After reviewing your order, tapSell bitcoin. Note that it is not currently possible to sell digital currency and have the proceeds send to a linked debit or credit card. Still can't find what you're looking for? Continue reading >>
How To Convert Altcoins To Usd And Other Fiat Currencies
How to Convert Altcoins to USD and Other Fiat Currencies If you want to cash out of your alts, you'd likely have to trade them for BTC, LTC, ETH, or BCH and find an exchange that does fiat trading for these currencies (e.g., Coinbase, GDAX, Bitfinex). You'd have to change to a more popular coin because there are very few exchanges that allow you to buy/sell alts for fiat--though the FairX exchange may change this. If you want to cash out of your alts, you'd likely have to trade them for BTC, LTC, ETH, or BCH and find an exchange that does fiat trading for these currencies (e.g., Coinbase, GDAX, Bitfinex). You'd have to change to a more popular coin because there are very few exchanges that allow you to buy/sell alts for fiat--though the FairX exchange may change this. If you want to cash out of your alts, you'd likely have to trade them for BTC, LTC, ETH, or BCH and find an exchange that does fiat trading for these currencies (e.g., Coinbase, GDAX, Bitfinex). You'd have to change to a more popular coin because there are very few exchanges that allow you to buy/sell alts for fiat--though the FairX exchange may change this. Converting Altcoins to US Dollars and Other Fiat Currencies The simplest way to cash out your altcoins to USD and other fiat currencies is by going through an exchange that supports fiat conversions. A second exchange is necessary because, unlike Bitcoin, altcoins are not readily convertible to fiat currency. As it stands, only a select few tokens can be exchanged for fiat currencies. Additionally, only a handful of cryptocurrency exchanges can make this trade for you. The need to convert to the proper coin and navigate through multiple exchanges can make cashing out a confusing process. Follow these simple steps to safely cash out your coins and depo Continue reading >>
How To Buy Bitcoin And Altcoins With Cash
How to Buy Bitcoin and Altcoins with Cash Posted by Staff | Dec 6, 2017 | Bitcoin | 1 Despite what some people think converting cash into cryptocurrencies, such as bitcoin, is actually fairly easy. There are a number of effective methods for turning either Canadian or U.S. dollars into altcoins available to most people. There are a few important things that you must know about such conversion before you begin. Vital knowledge you need to know about cryptocurrency conversion includes: It will cost you: almost every broker, exchange, ATM, and digital wallet charges at least a small fee for converting government or fiat currency to altcoins. Always make sure you know what the conversion fees are because they can quickly add up and eat up your profits. There have been some horror stories in the media about investors who ended up paying more in fees than they did for the coins. You can lose money in the process. If you invest $1,000 in litecoin; and litecoin loses 10% of its value you will lose $100. Make sure you know what the price of the cryptocurrency is before you buy it. Fortunately, there are many places where you can learn the current price of bitcoin and other forms of digital cash. Coinbase tracks Litecoin, Ethereum, and bitcoin and gives their real time value in US dollars. There are sites like bitbuy.ca that will tell you the price of bitcoin in Canadian dollars. Make sure that you purchase bitcoin. Bitcoin is currently the only cryptocurrency widely accepted by online and brick and mortar retailers. Methods of Converting Cash (Fiat) into Bitcoin Here are some of the best methods of converting cash into bitcoin available in the United States and Canada. Use localbitcoins.com to arrange a LOCAL bitcoin exchange with someone in your area. You can meetup (or do an Continue reading >>
How To Cash Out/sell Bitcoin For Fiat (usd, Eur, Etc.)
For cryptocurrency newcomers, one of the most common things they want to understand is how to cash out Bitcoin or withdraw from Bitcoins to fiat currency (USD, EUR, Etc.). Regardless of the reasons, a time may come where you want to turn your Bitcoin into government issued currency. So how exactly can you get fiat cash or dollars for your Bitcoin? How to Turn Bitcoin into USD or other Fiat Currencies When it comes to selling your Bitcoin, you essentially have two options. And although they both have their advantages and disadvantages both suffer from the same challenges such as lack of mass user awareness and unclear remediation processes. By far the most popular way of turning Bitcoin into fiat currency is through centralized exchanges such as Coinbase and Gemini . With sleek user interfaces and KYC (Know Your Customer) processes required as part of account creation, these exchanges will let you link your funding bank account for withdrawal making the process easy and painless. How to turn Bitcoin into USD through Coinbase So, you have your Coinbase wallet with your Bitcoin sitting in it and you are ready to send your funds back to your local bank account. Follow these steps: Navigate to the Buy / Sell section of your wallet After you are in the sell section of the wallet, you can select the wallet you wish to sell from and the bank account you wish to deposit to. Enter the amount of USD that you are wanting to get from selling your BTC. When you enter this amount of USD Coinbase will automatically calculate the amount of BTC it would cost to get that corresponding amount of USD. If you dont have the amount of Bitcoin in your wallet? Coinbase will notify you telling you to enter a new amount. Confirm the amount you wish to sell, take note of the fees (they will be sho Continue reading >>
How Do I Turn My Bitcoin Into Cash?
In the Philippines, Coins.ph providesthe fastest, easiest and safest way toturn Bitcoin into Philippine Pesos (PHP). 1. If you don't have one yet, start by signing up for a Coins.ph account. Coins.ph accounts are completely free -- signing up only takes a couple of minutes, and all you need is a valid email address. You'll need to sign in to place an order. 2.Go to the Cash Out page to place an order. 1) Method - Start by choosing how you'd like us to send your cash. You can cash out through a bank account or a number of other options, such as an instant cardless ATM Instant Payout, cash pick-up at over 10,000 remittance outlets, and door-to-door delivery. 2) Amount - Indicate the amount you wish to cash out. 3) Recipient - Provide necessary information about you or your recipient(e.g. bank account details, mobile number). 4) Payment - Choose how you want to pay for the order. We will then deposit your cash through the method you specified. Depending on when you placed your order and which method you chose, you will receive your funds between 5 minutes, 24 hours, or by next business day. Please note that in anticipation of potential increased activity and slower settlement time from financial institutions, we are adjusting our guaranteed bank cash-out estimates to three (3) business days for the duration of the 2017 holiday season. However, we will continue to make the same effort to process all transactions as fast as possible. Need help? Send us an email at [email protected] and we'd be happy to assist you withyour cash out order. Continue reading >>
Bitcoin Billionaires May Have Found A Way To Cash Out
Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Bitcoin Billionaires May Have Found a Way to Cash Out Major holders, most of whom have held for years and never sold, have expressed interest in doing similar trades. Bitcoin did a lot of growing up in 2017, but there was one trade this week that could go a long way toward stabilizing the market for the cryptocurrency and further establish its credibility in mainstream finance. Sure, the meteoric rise in bitcoin prices has everyone debating whether it's one of history biggest bubbles, but just look at all the accomplishments that have put it on the cusp of joining the global financial system. LedgerX opened the first U.S. Commodity Futures Trading Commission-approved clearinghouse for cryptocurrencies in October, and began trading in swaps and options. Cboe Global Markets and CME Group have started trading in bitcoin futures. The New York Stock Exchange, Intercontinental Exchange -- and no doubt others -- plan to offer exchange-traded funds based on bitcoin futures. But for all those achievements, there are some big issues that have yet to be resolved. The U.S. Securities and Exchange Commission rejected the use of the Gemini exchange to determine bitcoin prices -- which Cboe is using for the daily settlement of bitcoin futures -- and has expressed doubts about us Continue reading >>
The Best Ways To Convert Bitcoin Into Cash
A General Bytes Bitcoin ATM.General Bytes Bitcoin ATMs are available in most major cities around the world and they provide a relatively fast way to quickly convert Bitcoin and other cryptocurrencies into traditional, real-world money. Many Bitcoin ATMs also allow users to buy Bitcoin with money in much the same way someone would deposit money into their bank account at a regular ATM. Most now support additional cryptocoins such as Litecoin and Ethereum as well. Using a Bitcoin ATM to convert cryptocurrencies into money can be a convenient practice for those who get paid in Bitcoin and wish to spend their earnings. One downside though is the fees which are usually much higher on an ATM than an online service. The conversion rates can also be much lower than other methods as well which means that you may not get as much money for you crypto as you'd like. Buying Bitcoin and other cryptocoins is very easy on Coinbase.DigitalVision Vectors / sorbetto There are several popular online services that not only allow people to easily purchase Bitcoin and other cryptocurrencies via their websites and smartphone apps but also sell the ones they have for real money. The most-popular service is Coinbase while a good alternative is CoinJar . Both offer the buying and selling of Bitcoin, Litecoin , and Ethereum , while Coinbase also supports Bitcoin Cash (a completely separate cryptocurrency from Bitcoin) and CoinJar has Ripple. Each service can connect to traditional bank accounts to pay for cryptocoin purchases. This connectivity also enables the selling of cryptocurrencies which can be converted into regular money and transferred to a bank account within a few days. Many people use Coinbase and CoinJar to buy Bitcoin (and other coins) and cash out their profits via bank transfer a Continue reading >>