How Do I Turn My Bitcoin Into Cash?

[Quickgun_murugan]

https://bitcoin.stackexchange.com/questions/2844/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?

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 your bank account, and you don't need any permission or paperwork to start using bitcoin.

For example, using localbitcoins.com to change cash to bitcoins and vice versa, you don't need any kind of bank account at all.

What you are looking for is likely a person-to-person exchange where you provide bitcoins and in exchange you get EURO currency.

While there is some of this happening in various places, it is not found everywhere. There are no buyers or sellers listing Libya, ...yet:

• https://localbitcoins.com/country/ly Offering to exchange bitcoins to cash and vice-versa can be an income-generating activity, though in many areas doing so requires licensing.

But where there's a will there's a way.

In the meantime, here's a list of various methods:

• http://en.bitcoin.it/wiki/Selling_bitcoins

 

[Quickgun_murugan]

You don't need a credit card to use Bitcoin, and you don't need any account anywhere. Just download the open source software from http://www.bitcoin.org Bitcoin was born out of discontentment with traditional (central) banking, monetary, credit and transaction systems. That's why there is no central institution or authority behind Bitcoin that can administer you. How much one bitcoin is worth is entirely decided by free market dynamics within the community. That's possible because the supply of bitcoins is held artificially scarce. It's a currency from the people for the people. If you and your community want to build an economy upon it, you all can get some GPUs or FPGAs and start mining. It will be entirely up to initiatives in your community to build services that exchange to and from traditional (Libyan) currencies, to offer goods and services, or to manufacture physical coins similar to Casascius to put into circulation (although these are rather seen as a gimmick, it may be much more convenient to use mobile phone clients nowadays for meatspace trading). Even in US and Europe where it's most popular, Bitcoin is still in its infancy and this process is only just happening. If you happen to find Bitcoin inadequate to build a local economy upon, because you can't mine enough or you'd have to invest too much to buy some, you may take a look at different concepts like Ripple et al. These concepts build upon trust relationships however, you'll lose some of the features like the global scope and the (relative) anonymity/pseudonymity that Bitcoin offers. Money is a tool to transfer value after all. There are currently no known tools or technologies that can solve all problems at once if you don't want a currency that is enforced by an authority. shareimprove this answer edited Feb 5 '12 at 16:14     answered Feb 5 '12 at 15:19 herzmeister 1,43721521

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Bitcoins have no central authority. There is no bank required. All Bitcoins are digital. You need only a computer (a PC, Smartphone, etc!) to use Bitcoins. There's no need to have physical coins or bills. That said there are some initiatives to offer physical coins for example https://www.casascius.com/. Take a look at http://www.weusecoins.com/ and http://lovebitcoins.org/.   ( You could print the secret information that you can use your Bitcoin with, but it is not quite the same as cash. You could even get bank notes (redeemable Bitcoin "vouchers") from a trusted party. That is pretty much what cash is. You would also take a lot of unnecessary risk, which could give you the authentic cash experience. ) shareimprove this answer edited Jul 8 '14 at 21:11     answered Feb 4 '12 at 3:36 Lodewijk 1,127615

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Yes, you can hold a "physical bitcoin" in your hand. You can trade it from person to person, and eventually turn it back into a digital coin if you wish. However, most often you will be only dealing in digital bitcoins. You don't need a bank account or a credit card to use those. They are stored in a so called "block chain" - a ledger of all transactions on bitcoins. In order to spend them, you need your Bitcoin address and its private key - a really big random number. 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. shareimprove this answer answered Oct 7 '12 at 19:49 ThePiachu 29.1k1289276

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If you are looking for an anonymous method of converting Bitcoins to cash, you should look at www.bitcoin-brokers.org because they will buy your Bitcoins from you and send you cash via Moneygram. They will even send you your payment without you needing to show any ID. They do this by attaching a special “question and answer” to the payment. Walk into any Moneygram with this special Q&A, along with the transaction number, and moneygram will release the payment to you without you ever needing to show any ID whatsoever. Completely anonymous way of converting your Bitcoins to cash. shareimprove this answer answered Jun 11 '13 at 19:36 Dan Brown 1

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Many companies accepting BTC for products / services can be found here http://coinmap.org, though there is still a shortage of places to turn BTC into hard cash easily. There's Coinbase tied in with US banks, wires and withdrawals have fees but much faster to use than MtGox. That leaves localbitcoins and the far more suspect http://bcchanger.com/ (beware new users!!). 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. If you have BTC to sell and the current rate on localbitcoins is $997 and you post at $970, you'll sell quickly. 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 20306. shareimprove this answer answered Dec 6 '13 at 13:34 Capitalmind 11

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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. You can easily pay with your phone if you are in one of those bars/stores. But on the Internet there are many stores and the number is growing fast, where you can buy with your bitcoins.

[Quickgun_murugan]

How Do I Turn My Bitcoin Into Cash?

To convert Bitcoin into cash, look for a Bitcoin exchange that will allow you to sell your Bitcoin at a reasonable price, for your preferred local currency (such as pesos, dollars, or euros).

Most Bitcoin exchanges display their sell price, or "offer", in a ticker located at or near the top part of their homepage:

The sell price is basically what an exchange uses to compute how much cash you will get when you convert your Bitcoin. The price shown on the ticker is real-time and is usually updated every few seconds.

When choosing which exchange to use, you should consider the following:

• Whether or not the exchange supports your preferred currency, and your preferred method of receiving your cash 
• How much does the exchange charge? (Beware of exchanges with hidden fees!)
• How long it will take for them to send your funds?
• Whether or not their sell price is reasonable
• If the exchange has a reputation of being legitimate and reliable

Converting Bitcoin into Pesos (PHP) 

In the Philippines, Coins.ph provides the fastest, easiest and safest way to turn Bitcoin into Philippine Pesos (PHP). You can sell as little as 0.001 Bitcoin, and receive your cash through over 25 different ways, including options that don't even require having a bank account). 

Here's how:

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.

You will be directed through four steps:

1) Method  - Start by choosing how you'd like us to send your cash. If you have a bank account, you can choose "Bank." If not, you can choose from 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 sell.

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.

If you wish to convert Bitcoin that you are currently storing outside of Coins.ph (i.e. in a Bitcoin wallet such as Blockchain.info, or in another exchange such as Coinbase), click the "Other payment options" button.

Then click the "Show QR" button.

If you have already added funds to your Coins.ph BTC Wallet, you also have the option of paying directly with your Coins.ph balance. To do this, simply choose "Bitcoin Wallet" then click the "Pay" button.

3. Send your payment to finish placing your order. 

Send the exact Bitcoin amount to the receiving wallet address indicated in the "Show QR" screen. If you're copy-pasting the address to a field in your external wallet, please don't forget to double-check before hitting send!

You will receive a notification via email once your Bitcoin payment reaches the receiving wallet.

The status of the order will also change to "Processing" to indicate that we are working on getting the funds to you:

4. Done! We'll deliver your cash!

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. 

[siru]

pesos ante philippines emo kada 

[Hitch_smith]

Mexican Peso

[cottondora]

21 hours ago, Hitch_smith said:

Mexican Peso

Matter Enti??