Bitcoin withdrawal question (newbie)

**mrpapageorgio** · 11-18-18, 10:34 PM

It's not outrageous, but not the cheapest (around 5.5% it looks like your fee was). You can go as cheap as .3% if you're willing to sell through Coinbase Pro, but requires ID verification and to link to a bank account. If you sell through Blockchain Wallet's 3rd party service it's around 2.5%. You can also sell through some ATMs, but their fees are double digits easy.

Long story short, the more privacy you want, the more it's going to cost you.

**leadpipe** · 11-18-18, 10:58 PM

Thank you very much for the response

**Optional** · 11-19-18, 01:03 AM

Originally posted by mrpapageorgio

Long story short, the more privacy you want, the more it's going to cost you.

I think I'll have to steal that quote for future use ;-)

**littlekona** · 11-19-18, 01:26 PM

That is not the norm...you may of been caught in the resent down swing of btc which most likely caused....but if you want Best way to cash out it’s bitpay debit and or Gemini exchange...I you want to try to make a few bucks extra localbitcoins is also excellent

**mrpapageorgio** · 11-19-18, 11:12 PM

Originally posted by littlekona

That is not the norm...you may of been caught in the resent down swing of btc which most likely caused....but if you want Best way to cash out it’s bitpay debit and or Gemini exchange...I you want to try to make a few bucks extra localbitcoins is also excellent

I forgot Bitcoin has been dipping lately, so it might have caused some of the "less than expected" payout. Bitpay is good if you're anticipating cashing out Bitcoin a lot, but if you're just a couple times a year (end of NFL season, etc), then it's not worth the $10 fee and you're better off with Gemini (or Coinbase).
Localbitcoins is fine if you know what you're doing and are careful. I don't recommend it for newbies who just want to cash in and out quick. It's a bit of a wild west for Bitcoin transactions.