Where to sell bitcoin (or burstcoin) for USD bank account with the highest value
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Where is the best place to sell your coins for USD that goes to your bank account. on Poloniex BTC is $1360 but i i move it to coinbase to cash out its $1260. I am going to lose over $100 per BTC this way. what other sites can you sell your BTC for a higher amount then coinbase. This sucks if i lose $100 per BTC, what is the point of trading on poloniex when the price is not real.
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That is an artificially high price. All other exchanges have BTC at $1275 right now. If polinex says BTC is worth $1360 then have them buy your BTC and then withdraw cash.
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yea that is the joke of all of it, you cant withdrawal cash on poloniex. there is no way of getting 1360 for 1 BTC in cash. I can sell it for 1360 but i have no way of getting it out. i can than buy other coins and take them out. I can buy ETH and move it to coinbase and then sell it for cash, WAIT FOR IT!!! ETH on coinbase is 50.50, on poloniex its 53.68. So now i will lose over $3 per ETH. This is bullshit and now coins are starting to look like a scam.
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I never use Polinex for USD pricing. I use it to convert from one alt to another. So if you are trading on Polinex, you buy 1 BTC at Coinbase for $1260 send it to Polinex, it is now worth $1360 in Polinex $. Convert your BTC for ETH and wait for ETH to go up. You sell your ETH for a 10% gain with respect to BTC. You now have 1.1 BTC. You send 1 BTC back to Coinbase, get $1260 for it. You have .1 BTC in Polinex to use for more trading or send it to Coinbase and cash in for $126. You made 10% on your initial investment regardless of whether Polinex says BTC is worth $1360, $1260, or $2000.
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i know now whats up. Poloniex uses USDT. USDT is now screwed because taiwan and few others froze their $ so USDT was made to be 1 to 1 but now its more like .912 to 1. USDT had one job and that is to be 1 to 1 to the USD but now they are done. people are pissed tehy lost money even when it was not invested just waiting in USDT form.
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@rds said in Where to sell bitcoin (or burstcoin) for USD bank account with the highest value:
Convert your BTC for ETH and wait for ETH to go up.
Very interesting, thanks. What are the "friction" transaction & spread costs? Also, I'm not sure if we can rely on ETH going up f'ever.
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@BeholdMiNuggets said in Where to sell bitcoin (or burstcoin) for USD bank account with the highest value:
@rds said in Where to sell bitcoin (or burstcoin) for USD bank account with the highest value:
Convert your BTC for ETH and wait for ETH to go up.
Very interesting, thanks. What are the "friction" transaction & spread costs? Also, I'm not sure if we can rely on ETH going up f'ever.
It was just an example of why Polinex USD price doesn't matter.
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if paypal is good enough, use https://xcoins.io/?r=fr7nz1
@Lexicon 's ref link.
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@PeterSkrzyniarz Or use localbitcoins.com but make sure to choose someone with a good reputation to trade with, there are some scammers in there, specially in gift cards and such
I traded one time with one guy from my country for a bank transfer and all went well aswell as being pretty fast and actually i catched an offer where i was payed even a little more than what poloniex said my btc was worthed at that time... Good luck with it ;P
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I advise you to read this article - Bitcoinbestbuy. Here they write how you can sell bitcoins but I advise you to wait, because just recently bitcoin broke a new record and I think its price will continue to grow
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@msganton said in Where to sell bitcoin (or burstcoin) for USD bank account with the highest value:
if paypal is good enough, use https://xcoins.io/?r=fr7nz1
There are numerous reports of PayPal closing accounts & freezing balances for those suspected of trading in crypto-currencies. Likewise with some Banks. Especially with percieved "on-ramp" activities. Suggest to be careful.
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/@beholdminuggets
not just reports! I could give you some first hand experience as well!-/
All trough paypal never closed my account I had several chargebacks of buyers complaining they never received there Bitcoin! And if you give paypal all the proof you can they're saying "we cant check that"!
Xcoins answer to this is, that you if you keep on "lending" they will make sure that you'll make it back with a higher commission!
Conclusion to this is "Don't sell on Xcoins, at some point you will lose!"
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@nixxda said in Where to sell bitcoin (or burstcoin) for USD bank account with the highest value:
Conclusion to this is "Don't sell on Xcoins, at some point you will lose!" (when PayPal blocks payments).
There are dozens of traders on LocalBitCoins that seem to have thousands of crypto/fiat transactions over several years. Of course, they use Banks, plus some offer Cash deposits & PayPal. So there has to be some sort of understanding reached.
The main edge offered by LocalBitCoins would appear to be providing a simple on/off ramp for Fiat/Btc. With limited qualification etc. Which is probably quite irritating to the authorities - who want to control /monitor & access it all.
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@beholdminuggets
Oh shit! There go my thoughts of getting one of those Debit Cards!-/Paypal, wherever you use it as gataway, is just no good because they clearly state that they don't want Bitcoin to be traded to their platform. And therefor offer no protection at all to sellers.
I guess for me its bity.com only from now on. ..sigh...
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It will be necessary to try out
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It's easiest for me to withdraw money just for PayPal. Therefore, you have to use exchanger https://hiribi.com/ for this business. In addition, there is an opportunity to sell tokens at a rate of 10% higher, at least. And there were no problems at all.
