Exchanging BTC to Fiat Currency

**universal4** · 20 March 2020, 3:37 pm

Based upon requests we wanted to start a discussion for the most recommended exchanges for changing Bitcoin BTC into fiat currency.

https://www.dietistaktuellt.com/forum/good-btc-...sa-249025.html
https://www.dietistaktuellt.com/forum/good-btc-...da-250952.html

For country specific query's there had already been a discussion for USA or Canada, linked above, but this discussion may help others make better choices in their respective countries.

Who do you recommend, or recommend against and why?

Rick
Universal4

**eenzoo** · 20 March 2020, 10:48 pm

Meanwhile I'm a big fan of paxful.com not an exchange but a great way to to get fiat to you bank account, PayPal, Skrill and many other options.

**wonderpunter** · 21 March 2020, 5:21 am

Originally Posted by eenzoo

Meanwhile I'm a big fan of paxful.com not an exchange but a great way to to get fiat to you bank account, PayPal, Skrill and many other options.

looks pretty much the same as localbitcoins? what are you guys using for larger amounts in euros?

**diachibet** · 9 April 2020, 8:40 pm

At Huobi OTC or Binance OTC you can exchange BTC to your fiat currency.

**bitcoincasino** · 14 April 2020, 5:11 am

Keep in mind some exchanges are running away from gambling and betting, so if the source of the crypto are the affiliate programs, in some exchanges you will have a prob

**ddm** · 14 April 2020, 5:54 am

Originally Posted by bitcoincasino

Keep in mind some exchanges are running away from gambling and betting, so if the source of the crypto are the affiliate programs, in some exchanges you will have a prob

and how pray tell, would an exchange know the source of the funds. ?
would love to see a source ..

**bitcoincasino** · 14 April 2020, 6:23 am

You know that as much as crypto currencies are anonymous, there are options to track each and every transaction to its source, right ?
If you receive BTC from addresses which are consider to be blacklisted, you may have a problem.
You can try to mix the addresses and use faucets for join transactions, bottom line, its traceable.

**ddm** · 14 April 2020, 8:54 am

I know there are tumblers and services like shapeshift.io to remove footprints fwiw..
i guess this BS is why i use a ledger nano.

**fliptroniks** · 14 April 2020, 12:18 pm

Coinbase allows you to do it quickly.

**Strider1973** · 14 April 2020, 3:33 pm

Or maybe use wasabi wallet (haven't used it personally).

**latrobet** · 17 April 2020, 3:01 am

There are several services that will do crypto to fiat on receipt, they will generally only work with B2B customers, I believe if it is affiliate payments you will have no issue. Drop me a line if you want more details.

Full disclosure, you will be able to see that my software powers a few of the crypto gambling platforms. But I don't have any interest in the OTC clients that I am talking about.

**AmyWoods** · 25 May 2020, 4:55 am

There're lots of exchanging services online, such as kraken or poloniex. But I don't think now is the best time for exchanging..but who knows, maybe the price of BTC will fal in the nearst time

**WagerX** · 26 May 2020, 11:45 am

Originally Posted by bitcoincasino

Keep in mind some exchanges are running away from gambling and betting, so if the source of the crypto are the affiliate programs, in some exchanges you will have a prob

I think is especially true if you are getting bitcoin from a highly regulated market like the US. A big misconception is that bitcoin is 100% anonymous. The irony is that it is a public ledger. It's true that you can not identify the account holder, but tracking bitcoin is possible. For example, if the US DoJ makes deposits in BTC to an illegal bookie, the funds can be losely tracked. The bookie uses those funds to pay an affiliate, and the source is suspicious.

I think this will be increasingly difficult issue for those affiliates.

**Jambo** · 31 May 2020, 10:50 am

Originally Posted by AmyWoods

There're lots of exchanging services online, such as kraken or poloniex. But I don't think now is the best time for exchanging..but who knows, maybe the price of BTC will fal in the nearst time

I think the bitcoin price will grow this year to 12-13k maybe. Everybody expected that the price will explode again after the last bitcoin halving but as we see..... nothing happend. Anyway it is realistic that we reach again a price of 15-20k in the next 12 months.

**Sherlock** · 31 May 2020, 11:19 am

Originally Posted by WagerX

I think is especially true if you are getting bitcoin from a highly regulated market like the US. A big misconception is that bitcoin is 100% anonymous. The irony is that it is a public ledger. It's true that you can not identify the account holder, but tracking bitcoin is possible. For example, if the US DoJ makes deposits in BTC to an illegal bookie, the funds can be losely tracked. The bookie uses those funds to pay an affiliate, and the source is suspicious.

I think this will be increasingly difficult issue for those affiliates.

I do not think many people who use BTC think BTC is anonymous. I hope people can not be so dumb after more than 10 years of existence of bitcoin.

Affiliates funds are different funds than betting funds. The bigger the bookie, the more this is true. Bookies use mixers and in some cases even miners to keep those funds divided.

I think the bitcoin price will grow this year to 12-13k maybe. Everybody expected that the price will explode again after the last bitcoin halving but as we see..... nothing happend. Anyway it is realistic that we reach again a price of 15-20k in the next 12 months.

No, not "everybody" expected that price will explode "again" after this halving. Many people were expecting a drop, some even death spiral caused by collapse of miners (which is now certainly not happening - hashrate grows). Right after halving was always a drop and this one was very mild. But mid- and long- term halving is having positive effect on BTC - and this is what people expected (so growth during next 2 years after halving and shortly before halving).

Price of BTC will be however even more defined by monetary and economic policies of the world.

With Bitcoin is always realistic to anticipate two things: recent price is the best estimation of future price. Always expect a high volatility.

**Sherlock** · 31 May 2020, 11:21 am

Originally Posted by Strider1973

Or maybe use wasabi wallet (haven't used it personally).

Wasabi or Samurai are wallets with mixers. It is not a good idea to mix the funds if you do not know what you are doing and you send them to coinbase for example. Then the clearly mixed funds look like even more black than they are and you have no proof that you got them legitimately. CB I think even asked directly people not to mix the funds.

I mean yes, the funds have to be somehow obfuscated, but not in this direct way.

**Malikbhai** · 1 June 2020, 10:13 am

I'm connected to a network of "big somebodies" who are always short on liquidity when it comes to BTC. So, I just give them what I have and they pass the money into my bank account directly. All at a local level.

The point was, it's not necessary to use these exchanges, if you can find someone local in your city.

**ddm** · 1 June 2020, 1:12 pm

one option I like is to stick it on GGPoker and run it up, cash it out fiat. Ez.
#poker

**Reddy** · 29 June 2020, 11:42 am

Originally Posted by ddm

and how pray tell, would an exchange know the source of the funds. ?
would love to see a source ..

The exchanges will ask the source. I'm wondering if they'll be fine with affiliate income from gambling sites. Otherwise, you have to make something up. They'll probably ask for proof such as invoices and those can be matched against public bitcoin transactions.

**Sherlock** · 29 June 2020, 1:34 pm

Originally Posted by Malikbhai

I'm connected to a network of "big somebodies" who are always short on liquidity when it comes to BTC. So, I just give them what I have and they pass the money into my bank account directly. All at a local level.

It is good neews for BTC that big somebodies need BTC. Thanks for the info.

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