Selling bitcoin

**raiders72001** · 12-22-20, 07:44 PM

Originally posted by killawookie

So, I'm typically a small time bettor, withdraws via ** or whatever 5Dimes had. Fast forward to 2020. bought bitcoin through Coinbase, moved it to Blockchain and then to Nitrogen. I have racked up some decent coin the last few months and want to take some out but don't want and don't feel I should be claiming anything. The amount I'd want to take out is around $10k but it doesn't have to be all at once. What are my options without someone else taking a large % and telling uncle sam. I'd prefer to check 'no' next year.

Bitpay - I read around that they only report back if you move $20k and 200 transitions? So safe to move it here and buy gift cards?

localbitcoin - I see some buying with **, does this mean they send you a pickup for your amount or mail checks? This seems sketchy and would take forever to clear at a bank (also creating red flags)

ATMS - I have several around me claiming 4.7% but unverified.. is this a realistic method or it for one time use?

I was not expected getting the funds out to be so convoluted, even though I'm trying to find an alternative way. Does anyone have any first hand experience?

Bitpay is fine and you can take money out of ATMs with it.

**ChocMilk23** · 12-24-20, 06:09 AM

wtf would you buy gift cards

**killawookie** · 12-24-20, 09:25 AM

Originally posted by ChocMilk23

wtf would you buy gift cards

I read so many different things, months a part. I read that you can or can't withdraw through ATM using the new bitpay card. I'm actually stuck at this point because blockchain doesn't accept the wallet code format of bitpay. So if it's a matter of getting the money in to the bitpay wallet and just using the app to buy giftcards that i'd use, then that's better than nothing.

**Barrakuda** · 12-27-20, 02:34 AM

Originally posted by raiders72001

Bitpay is fine and you can take money out of ATMs with it.

Does Bitpay still offer ACH transfers to bank accounts?

**themike78** · 12-27-20, 07:03 AM

Localbitcoins or paxful using zelle bank transfer is a good option. Money is in your account instantly and the bank will not know that you are selling bitcoins.

**Barrakuda** · 12-27-20, 11:02 PM

Does paxful hold the btc and funds in escrow to avoid anyone getting stiffed?

**Barrakuda** · 12-27-20, 11:07 PM

People on paxful trying to buy BTC at 80% above market value? Seems like a red flag.

**killawookie** · 12-28-20, 05:49 PM

Originally posted by Barrakuda

People on paxful trying to buy BTC at 80% above market value? Seems like a red flag.

I just saw this, fishy.. unless they are getting huge discounts or there is a hack to get their gift cards cheap.

**Snowball** · 12-29-20, 02:08 PM

i guess you have no issue providing id ?

btw I was considering Hodl Hodl. This buyer "ExWallets" has high ratings
they use things like **/**/pp

anyone have exp with these?

**killawookie** · 12-30-20, 11:19 AM

In general, I'd like to stay as anonymous as possible. pp and anything that you'd deposit directly in to bank like Zel seems to be an obvious flag. Unless I'm being TOO careful unnecessarily.

**themike78** · 12-30-20, 07:48 PM

Originally posted by Barrakuda

Does paxful hold the btc and funds in escrow to avoid anyone getting stiffed?

Yes. They are legit. You don't release the bitcoin until you get paid. If somebody tries to scam paxful will moderate the dispute.

**themike78** · 12-30-20, 07:50 PM

Originally posted by killawookie

In general, I'd like to stay as anonymous as possible. pp and anything that you'd deposit directly in to bank like Zel seems to be an obvious flag. Unless I'm being TOO careful unnecessarily.

Zelle could be payment for anything. I have hundreds of zelle transactions and my bank has not questioned me once. You are not going to stay anonymous with bitcoin unless you sell to someone for cash.

**themike78** · 12-30-20, 07:51 PM

Originally posted by killawookie

I just saw this, fishy.. unless they are getting huge discounts or there is a hack to get their gift cards cheap.

I've sold many gift cards on paxful. That's what the going rate is. Just like if you try to sell the gift card for cash.

**killawookie** · 01-01-21, 08:27 PM

Originally posted by themike78

I've sold many gift cards on paxful. That's what the going rate is. Just like if you try to sell the gift card for cash.

But getting 75 to 100% more seems more than fishy.. if it sounds too good to be true, which this does, it has to be.

**DroopyDog** · 01-02-21, 10:53 AM

the people selling the gift cards for those huge discounted rates are obtaining them in shady ways... social engineering scams, stolen CC's, hacked accounts, etc.

I know someone who had cops knock on his door because they traced the gift card to the claimed account, turns out was from a scam on an elderly woman.

the legit guys offer a 5% discount at most..

**DroopyDog** · 01-02-21, 10:54 AM

I personally use bitrefill when i want to sell btc for gift cards... works great, and you get reward points on each purchase that can be exchanged for gift cards

**DroopyDog** · 01-02-21, 10:56 AM

Originally posted by themike78

Zelle could be payment for anything. I have hundreds of zelle transactions and my bank has not questioned me once. You are not going to stay anonymous with bitcoin unless you sell to someone for cash.

the issue with zelle is
#1 hacked accounts
#2 someone who legit transfered, can call his bank and say he didnt authorize it, and they reverse it no questions asked

gotta be careful with who you trade with obviously.

**NYproGambler** · 01-06-21, 05:53 PM

Originally posted by DroopyDog

the issue with zelle is
#1 hacked accounts
#2 someone who legit transfered, can call his bank and say he didnt authorize it, and they reverse it no questions asked

gotta be careful with who you trade with obviously.

This is not true.. at least at TD Bank. Long story short, I was buying coin on paxful and my zelle messed up and sent the money twice to seller. Seller refused to refund the money back to me and td bank refused to fix the issue for me even though their system messed up. Their response was that once transfer goes through with zelle, that's it. There is nothing they can do and ask your "friend" to send the money back to you.

**killawookie** · 01-06-21, 05:55 PM

Bitrefill is the perfect answer for someone looking to get something out but stay invested. TY Droopy