Anyone know how to trade bitcoin for cash?

Widelats

I find it very very confusing, i do not know how to cash these coins out, i don't want to start going on exchanges and having to meet people to trade them, i just want to sell them, any ideas who would buy them from me? Like using a escrow, i put the coins in, they send the cash, then escrow releases both and all is good, that sort of thing?

jonesMUFCforever

God luck with this one -any money launderers or drug dealers willing to help?

Roland_Sausage

https://localbitcoins.com

Widelats

jonesMUFCforever wrote: »

God luck with this one -any money launderers or drug dealers willing to help?

Don't know any of those people or services, i can spend them i guess. I may ask people if they are going to buy something, they give me the cash and i will buy it for them, that might work.

grumbler

jonesMUFCforever wrote: »

God luck with this one -any money launderers or drug dealers willing to help?

http://blog.neteller.com/2015/04/new-deposit-option-bitcoin/?j=82291&e=i.j.sokolov@googlemail.com&l=363_HTML&u=3283913&mid=7200902&jb=4621

In case you don't know, Neteller is one of the most popular e-wallets, authorised by the Financial Conduct Authority

This is possibly one of the ways of converting bitcoins to £, although surely not the cheapest one.

IIRC Paypal payments processing system started processing bitcoin payments too.

Widelats

grumbler wrote: »

http://blog.neteller.com/2015/04/new-deposit-option-bitcoin/?j=82291&e=i.j.sokolov@googlemail.com&l=363_HTML&u=3283913&mid=7200902&jb=4621

In case you don't know, Neteller is one of the most popular e-wallets, authorised by the Financial Conduct Authority

This is possibly one of the ways of converting bitcoins to £, although surely not the cheapest one.

IIRC Paypal payments processing system started processing bitcoin payments too.

Does that mean i can pay with bitcoin, then paypal will turn that payment into cash to whoever i pay?

grumbler

My understanding is that you can deposit Bitcoins to £ Neteller e-wallet. Neteller do the conversion. I have no idea what rate they use, but for other currencies they charge ~3%.
Withdrawals to a bank account cost €7.50.
Don't take my word for this as for some reason "funds deposited using Bitcoin are not available for purchases or withdrawals using your Net+ Prepaid MasterCard". I guess it's some stupid American restrictions that Mastercard have to obey.

Re Paypal, they process card payments and Paypal payments for merchants. IIRC, recently they added bitcoin payments too, so that merchants could accept them.

Widelats

grumbler wrote: »

My understanding is that you can deposit Bitcoins to £ Neteller e-wallet. Neteller do the conversion. I have no idea what rate they use, but for other currencies they charge ~3%.
Withdrawals to a bank account cost €7.50.
Don't take my word for this as for some reason "funds deposited using Bitcoin are not available for purchases or withdrawals using your Net+ Prepaid MasterCard". I guess it's some stupid American restrictions that Mastercard have to obey.

Re Paypal, they process card payments and Paypal payments for merchants. IIRC, recently they added bitcoin payments too, so that merchants could accept them.

Damn. Thanks grumbler.