and know your customer standards applicable in the jurisdiction where their ATMs are placed. After your identity is verified, you are given a QR code with a wallet address to which you need to send your Bitcoins. That is it the trade is done! Only a few specific Bitcoin ATMs offer bi-directional functionality meaning that users can both buy and sell Bitcoins using them. If you decide to sell your Bitcoins online, you can either do it via an exchange, direct trade or carry out a peer-to-peer transaction.
How to negotiate the price There are numerous websites and forums in existence that help traders arrange one-on-one meeting to buy and sell Bitcoin, with LocalBitcoins being the most widely used platform. After you are in the sell section of the wallet, you can select the wallet you wish to sell from and the bank account you wish to deposit. Moreover, you need to take a few things into consideration to ensure your safety and the safety of your funds. Also, remember to fund your Local Bitcoins wallet address so you can initiate the transaction based on the minimum about of BTC referenced in the trading request. Enter the amount of USD that you are wanting to get from selling your BTC. Not Available, kraken, uS Dollar, Euro, GB Pound, Japanese Yen, Canadian Dollar, Bitcoin, Ether, Ether Classic, Iconomi, Augur, Dogecoin, Lumen, Monero, Ripple, Zcash, Stellar/Lumens 0 -.36 0 -.19 or fixed commission. The identification process varies depending on the machine and even on different operators running similar ATMs, but some sort of identity verification will always be required if you want to sell. First, you will need to register as a seller.
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There is no direct exchange of funds taking place. LocalBitcoins is a person to person trading site where people can post their own bids for the buying and selling of Bitcoins to USD or other local fiat currencies. Regardless of the reasons, a time may come where you want to turn your Bitcoin into government issued currency. Transfers usually take a very long time, depending on the country and the amount of money being transferred they can take up to four days to be processed. If you dont have the amount of Bitcoin in your wallet? Apart from the possibility of fraud and disputes-what will you do if, after sending the Bitcoin, the other party claims to never have agreed to handing over money for it?-there is the question of what laws you may have to observe. For example, new users of Robocoin ATM need to a telephone number for activation and notifications, government issued ID, palm scan and a current photo taken by the ATMs webcam. Once youre registered, you can post an offer bitcoin mining rig setup philippines indicating your intention to sell some Bitcoins. Via ATM Despite looking like traditional cash machines, Bitcoin ATMs are not ATMs in the traditional sense. Once you have the bitcoin on an exchange, such as Coinbase and Gemini, you can painlessly sell. As Bitcoins value constantly fluctuates, the final exchange rate is normally agreed upon during the meeting.
For example, one of the worlds biggest cryptocurrency exchanges charges a flat fee of 50 for withdrawal via Bank transfer,.80 if youre withdrawing your funds to a Visa card and.2 percent of a transaction.80 if youre using MasterCard. The website merely serves as a platform to complete the trade. For those of you looking to trade your Bitcoin directly for physical cash, m may be a better solution. So how does it work? Online P2P trading Peer-to-peer trading marketplaces are a relatively new development in the Bitcoin world. Not Available, bitstamp, uS Dollar, Euro, Bitcoin, Ripple (XRP).1 -.25, international Wire -.09, EUR -.09 10 up to for over 2000. Choosing the amount of said fee is entirely up to you, but normally it is set at around five to 10 percent.