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A personalized escrow address will be provided to you after your order is created. Deposit the bitcoin into it. You will receive emails anytime there is a buyer hold or a cash deposit. Once you confirm the cash deposit with BitQuick, the bitcoin will be sent to the purchaser. The site itself is taking care of all the hard work of matching up buyers and sellers. All you do is kick back and wait. All fees are paid by the buyers except cancellation fees, if you choose to revoke your sell order.
Western Union as your method to receive payment. There is no option for cash via mail. So it may take you longer to get a deal that you are happy with. Finding buyers on Localbitcoins may be faster. With Localbitcoins, you have to check buyer profiles and manually accept or reject offers, but BitQuick automates that whole process for you based on the information which you provide when you fill out the form to sell bitcoin.
You probably are aware that there are bitcoin ATMs now where you can walk up and buy bitcoin with cash. Some of these machines will even create a wallet for you if you do not have one. But did you know that you can also use some bitcoin ATMs to sell your bitcoin for cash? Interestingly, this is fast becoming a standard feature for bitcoin ATMs, though as of the time of this writing, the majority still only allow you to buy bitcoin with cash. From here, you can zoom in on your location and search for local bitcoin ATMs.
In the lower left are some checkboxes where you can specify what you are looking for and narrow down the results. It may also be helpful to know that the following types of ATMs are most likely to allow you to sell bitcoin:. Note that there are no guarantees that a particular model will allow you to sell bitcoin, even if it is standard for that model.
The reason is that operators of ATMs are able to enable and disable certain functions, including sell functions. This means that it is always smart to look up online whether a particular ATM will allow you to sell, especially if you need to drive a long distance to get to it. If you do find an ATM in your area where you can sell bitcoin, here is how to proceed in general—the specific steps can vary from one machine to the next.
If the machine requires you to verify your identity, then you will need to start out by completing the verification step. The procedures may differ from one model to the next, so do some research before you head to the ATM. That way you can be sure you will have what you need when you arrive. After you complete this step, you can tell the ATM how much bitcoin you want to sell.
The ATM will then let you know the exchange rate and the fee, and then it will provide you with a QR code. You can scan this to send your bitcoin. At this point, one of two things will happen, depending on the model. Either the machine will dispense the cash, or it will give you a redeem code which you can use after awaiting a confirmation. Sometimes more than one confirmation up to six is needed before you can use the redeem code and get your cash. If you want a receipt, you can print one once your transaction is complete.
You already are used to using ATMs to withdraw fiat currencies, so the idea of using them to withdraw your bitcoin as cash has obvious appeal. It is a process which feels safe and familiar. You do not need to worry about another party screwing up the transaction. You need to wait through the confirmation process. Obviously dealing with this on a regular basis would be incredibly expensive. One more thing you can do is join a bitcoin exchange.
Sites which are set up for trading also are fine, though they are a little more complicated to use. Here is a list of US friendly bitcoin fiat exchanges where you can use U. Changelly is another good site for selling bitcoin, but only in exchange for other cryptocurrencies, so it does not work to convert to cash. Once you have completed the transaction, you will have fiat funds in your CEX. IO account. At that point, you can withdraw them.
You can transfer them to a bank account or you can withdraw them using a credit or debit card. Once the fiat funds are in your bank account, you can then withdraw them as regular cash. IO show you updated exchange rates every few minutes so that you can sell when the price is in your favour. Finally, another option for selling your bitcoin is to do it in person. You can do this by joining a local bitcoin meetup group , or you can check on social networking sites like Facebook to see if there are any local groups.
If you decide to use this method to sell your bitcoin, you will be meeting with the buyer face-to-face. You should of course schedule this meeting to take place in a public venue so that you are minimizing your personal risk. If possible, you should ask the trader to show you public feedback which they may have from a site like LocalBitcoins. Once you arrive at the meeting, you can make the exchange however you have planned it. You will probably both show up with your smartphones.
The buyer will hand you the cash, and you will transfer the bitcoin to his or her bitcoin address. Then you will go your separate ways. You do not need to demand identification from each other, so long as that suits you both. And if it works out, you could even end up with a repeat buyer who is easy to deal with in the future.
You have no idea how that will go. They could stand you up and waste your time, or they could show up and mug you, etc. Of course, many of these transactions go by without a hitch, so there is no need to be paranoid. Still, a lot of people prefer a method where less can go wrong. While bitcoin is great to invest in, there are going to be times when you want to convert your bitcoin into a fiat currency like US Dollars.
Thankfully, there are multiple methods available to you to convert your bitcoin into cash. You can store it as a QR code, a file on a computer or anything, but you do need some special program to use those. If you are looking for an anonymous method of converting Bitcoins to cash, you should look at www. They will even send you your payment without you needing to show any ID. Completely anonymous way of converting your Bitcoins to cash. There's Coinbase tied in with US banks, wires and withdrawals have fees but much faster to use than MtGox.
There are Robocoin ATMs now in general circulation but for traders, fees can be a problem. If you can stick with BTC you'll do fine, but converting to cash is slow and costly. One option is to circulate through arbitrage and keep trading until 'enough' margin is available to dump a stack of coins in the market by discounting.
The more we use and develop BTC, the better for us all. The value is increasing rapidly in the BTC market. How else can we sell our BTC for cash? Lets keep working on this. One final word, please be very informed before looking at Ripple. Here's some food for thought. Search ripple scam for comment No, you can't hold a bitcoin in your hand. But you can hold a wallet though Holding a wallet in your hand is holding a sheet of paper with a buch of numbers and letters which are the public and private key that refer to your wallet Actually the private key is the only one needed, with it you can generate the public one.
The accounting information is held in the blockchain spread arrown the world in thousands of computers. You don't need banks with bitcoin, your wallet is all you need and with your wallet you can buy in any store that accepts bitcoins. I don't know in lybia, but in my city there is at least one bar that accepts bitcoin, it is not easy to find stores accepting bitcoin out of the Internet, but I hope with time things will change. But on the Internet there are many stores and the number is growing fast, where you can buy with your bitcoins.
The article Bitcoin Funded Debit Cards might be useful to you. Sign up to join this community. The best answers are voted up and rise to the top. How can I change BTC into normal cash? Ask Question. Asked 9 years ago. Active 3 years, 5 months ago.
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We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms. LibertyX lets you buy bitcoin with cash at a number of retail stores across the United States. You'll have to verify your identity before buying, making LibertyX less private than some of the other options.
Some require verification, although most don't. Bitit is slightly different than the other options on this page. Instead of buying directly with cash, you instead need to use a voucher like Flexepin or Neosurf. We may receive compensation when you use Bitit. Please visit Bitit for its exact pricing terms. If you're still a bit confused, that's okay. Buying bitcoins is hard and that's why I built this site. If making a trade in-person, it's best to meet in a public place to reduce the risk of scamming or theft.
If buying bitcoins with cash via cash deposit, use an escrow service like LocalBitcoins or BitQuick to ensure the seller must send you the bitcoins after receiving bitcoins. It's also private, since no personal information is required in most cases, especially if trading in person or at an ATM with no verification. It can be hard to buy large amounts of bitcoins with cash, especially with cash deposit.
Bitcoin ATMs also have limits and some require verification if more than a certain amount is purchased. Do you want to buy larger amounts of bitcoins? Try buying with a bank account and you'll save on fees, too. Unlike other exchanges, which require ID verification and personal information, Local Bitcoins and Bitcoin ATMs don't require any information like this.
Just like any information you give up online, there is always the risk that it can be hacked or stolen from the website you give it to. One thing that Bitcoin exchanges have going for them is that because they are constantly under attack, they have some of the best security and protections in place to protect against the hacking of your personal info.
Even Yahoo was hacked and information on 1 billion accounts was stolen. Many Bitcoin exchanges have been hacked and lost customer funds. If you don't want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control. You can buy Bitcoin Cash using cash from most or all of the methods and dealers listed on this page. BitQuick is one of the best ways to buy bitcoins with cash in the United States.
Don't have one? Read our guide. Enter the amount you want to spend. You can enter in dollars or BTC, the fields will update automatically. Once you picked a bank you will be required to fill in some details. This includes your email, phone number, and Bitcoin address. You can also change the amount of Bitcoin you want to receive. This will send a PIN code to your phone that you need to confirm. Now you will need to find a bank branch of the bank you chose in your area. Then you go into the bank, make a deposit, and save the receipt.
That means there are Bitcoin ATMs in your area. Click on one of the map markers for more details about a specific ATM. Some ATMs may require verification, like a picture of an ID or a finger print scan although most don't. Now that you know a bit about LibertyX we'll show you how to use it. Once you've downloaded the app from the Apple App Store or Google Play Store , open it and you should see a screen like this:.
Enter the amount of bitcoins you want to buy and then press "NEXT". You should now see a screen with some options. If you want to find a store near you to buy then click "Find Store". Now you'll see a zoomed out map. Put in your location or allow the app to see your current location. You should then see a zoomed in map with pins displayed the many locations you can buy from:.
You will get more information on the location, like the store's hours, fees, phone number, and instructions for buying the coins:. At the store you present the code to the cashier and pay for the amount of coins you want. The cashier will then print out another code that you enter into the LibertyX app. Once you enter the code from the cashier you receive bitcoins! Make sure you meet in a public space. Going with a friend is best, too.
There have been reports of scams and robberies, so just make sure you take precautions when buying. Again, make sure you buy from sellers with good feedback! If you meet, meet in a public space and go with another person. The exchanges mentioned above LocalBitcoins, Wall of Coins, and Bitquick all work in almost the same way. This section aims to provide more clarity on how a trade might work using one of these exchanges. Peer-to-peer P2P Bitcoin exchanges are a great way to get bitcoins with cash.
A P2P trade usually works something like this:. Through sites like LocalBitcoins you are free to agree on other payment methods besides cash deposit. Yes, using LocalBitcoins you can even exchange that Starbucks gift card from Christmas a few years ago for bitcoins ;.
People are willing to pay more to buy bitcoins both more privately and faster. Wall of Coins generally has rates close to market. There are some down sides and some upsides to cashing out at a Bitcoin ATM. Are Bitcoin ATM's for you?
I prefer to keep my transactions all digital to be honest. While I have not tired using a Bitcoin ATM just yet, I do plan on doing it in the very near future and posting my adventure here; stay tuned to your favorite 'stache channel! Automatic 'Stache Machine! Bitcoin has shown rapid growth over the last few years and there are now some who will claim that the bubble is soon to burst and Bitcoin plummet. Some of us still believe in the concept of a user owned away from the reach of the financial establishment.
We shall be sticking with Bitcoin and are quite confident that Bitcoin will continue to rise faster than previously. By 'Stache on Tuesday, August 29, Pros You can get your Bitcoin almost instantly The transaction is completely anonymous unless the owner is creeping over your shoulder.
Good resources to help find the right Bitcoin ATM Due to the volatility of Bitcoin, in theory you might be able to get a better deal You get to leave your house! My name is Shea Newkirk and I have been a Bitcoin supporter since I am immersing myself in the cryptocurrency world and I decided to jot down my story as things unfold. Related Posts. Previous Post. Next Post.