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09-19-2020, 03:23 PM | Topic Starter |
Suupraa Geniuuusss
Join Date: Jan 2019
Location: Phoenix, AZ
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I have a dumbass question about Bitcoin
Pretend I don't know anything about cryptocurrency. How do you convert it to cash or USD for deposit into a bank acct? Are there fees or is there a conversion rate, all that type of stuff. Dummy it down for a 12 year old. And how much of a pain in the ass is the process?
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Posts: 30,295
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09-19-2020, 03:24 PM | #2 |
Tip of the hat LIV Champs
Join Date: Jun 2007
Location: ks
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I don't know why you asking me?
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Posts: 54,985
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09-19-2020, 03:31 PM | #3 |
The pizza king of kansas
Join Date: Sep 2001
Location: Somewhere in the u.s.a.
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Megatron if you go to cashapp you check out the bitcoins you pay how much you want in it. Then if you want to cash out the app take out the taxes and you keep whatever left. Also if you can't pay full price you can still invest in it.
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Posts: 18,904
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09-19-2020, 03:34 PM | #4 |
Suupraa Geniuuusss
Join Date: Jan 2019
Location: Phoenix, AZ
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Going to look into it later. Trying to cash out of my 5Dimes acct, and this lady is pushing bitcoin pretty hard. But she can't seem to just give me a straight answer as to how i convert bitcoins into actual USD. It's making feel like something's hinky.
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Posts: 30,295
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09-19-2020, 03:57 PM | #5 |
MVP
Join Date: Jun 2004
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You came to the right place... for we have MANY dumbass answers here.
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Posts: 6,666
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09-19-2020, 03:59 PM | #6 |
Banned
Join Date: Jan 2013
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Posts: 53,803
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09-19-2020, 04:07 PM | #7 |
What's up braj?
Join Date: Jun 2008
Location: Placencia, Belize
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Easiest to cash out through something like Coinbase or Cash App, although there will be some (normally minimal) fees involved.
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Posts: 15,677
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09-19-2020, 04:19 PM | #8 | |
El Gato Gordo Loco
Join Date: Apr 2006
Location: Earth
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Quote:
Local Bitcoins (trade for cash, paypal etc) Bitrefill (gift cards) Many other services out there. Conversion fees probably like 0.25 to 0.50 pct Last edited by BWillie; 09-19-2020 at 04:42 PM.. |
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Posts: 46,428
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09-19-2020, 05:55 PM | #9 |
Woman should only make babies
Join Date: Nov 2003
Location: Apartment "G UNIT!"
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just keep it in bitcoin and buy with bitcoin. It's not going anywhere
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Posts: 54,313
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09-19-2020, 05:58 PM | #10 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Commissions in and out are close to loanshark rates
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Posts: 50,854
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09-19-2020, 06:02 PM | #11 |
What's up braj?
Join Date: Jun 2008
Location: Placencia, Belize
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Posts: 15,677
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09-19-2020, 07:03 PM | #12 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Posts: 50,854
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09-19-2020, 07:17 PM | #13 |
What's up braj?
Join Date: Jun 2008
Location: Placencia, Belize
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Posts: 15,677
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09-19-2020, 08:22 PM | #14 |
Hey Loochy, I'm hooome!
Join Date: Oct 2008
Location: PooPooKaKaPeePeeShire
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Posts: 40,654
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09-19-2020, 07:14 PM | #15 |
Banned
Join Date: Jan 2013
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Kraken fees range from 0% to 0.26% depending on the following:
30- Day Volume Maker Taker $0 - $50,000....... 0.16% 0.26% |
Posts: 53,803
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