How to tokens-> bitcoin->paper money ?

[Garygoldenballs]

Hello, everyone. So paxum is having issues, and I have noticed Chaturbate can pay via Bitcoin. Is this a good option to withdraw?

For what I've understood, the correct way is to first create a Blockchain Wallet, and use it to receive the money there. Am I right?

I (and I guess some other people in here) am not particularly interested in Bitcoin, but in paper money (ex.USD,EUR, etc) to pay bills. How can we sell our Bitcoin? I'd imagine to friends is possible, OR through some broker. Where can we find those brokers?



Thank you for reading so many questions. I hope this can be a good way to withdraw our (literally)hard-earned money
Cheers and wish a great day to all

 

[Deleted member 37064]

There's a few threads on here about cryptocurrency. Probably the most informative one is this one:

https://www.ambercutie.com/forums/threads/ill-answer-your-questions-about-bitcoin-cryptocurrency-blockchain-etc.33491/

 

[Lintilla]

The answer to your question depends on which country you live in. Where do you live, and what form of currency do you actually want?

 

[Lelo1]

I have noticed Chaturbate can pay via Bitcoin. Is this a good option to withdraw?

cy

Is that new? it's not on their support documentation.
CB Getting paid, Paxum, Check by mail, Wire Transfer, or Direct Deposit (USA)
They do list it for buying tokens, How do I purchase with cryptocurrency?

Depending on where you are, bitcoin may or may not be legal.
In many countries bitcoin is not legal tender. So it isn't insured. As in, if it's stolen, it's gone.
You usually have to pay fees to convert legal tender into bitcoins, and then again to converting it back. So with a 1,000 you might be talking 30 to 80 for deposit and then withdraw. So you really want to figure out what the cheapest options will be.
Also the price of a bitcoin fluctuates, If you bought a 1000 worth of bitcoin at the high today and sold at the low today. You would have lost 40. On the other hand if you bought at the low, and sold at the next high of the day, you could have made 25.
If you take that all into account, that means could pay 5 to 120 to transfer 1000. If you hold onto the bitcoins for a while. you might actually make some additional money, but you could just as easily loose that money.
That is assuming you didn't get scammed, brute forced, tricked, hacked, wallet lost, website got hacked, and you loose all of it.

 

[befethr]

Try researching these companies: Wirex, Revolut, crypto.com. All of them provide multi-currency crypto (including btc) and fiat (eur, usd) wallets as well as visa or mastercard.
I am personally can give a very positive feedback on first one: Wirex. Used it to receive few cb btc payouts, works perfectly.

 

[Garygoldenballs]

The answer to your question depends on which country you live in. Where do you live, and what form of currency do you actually want?

I live in Brazil, so I'm looking to convert it into BRL. I have googled and there are no Bitcoin ATMs in a 1000km radius.



Thank you, ForceTen. I've read the entire thread. If anyone is in the same situation as I am: for what I understood the posters recommended doing online purchases or using bitcoin ATMs

 

[Garygoldenballs]

Try researching these companies: Wirex, Revolut, crypto.com. All of them provide multi-currency crypto (including btc) and fiat (eur, usd) wallets as well as visa or mastercard.
I am personally can give a very positive feedback on first one: Wirex. Used it to receive few cb btc payouts, works perfectly.

Cool! For what I'm reading on their website (wirex), it's a money card just like Paxum,but it includes Bitcoin, right?
I think that the card thing is a way to use the money, but it would be really nice to find a website that deposits the money into my local bank account

For the moment I found a friend who wants to buy all my Bitcoin, but this is obviously only a short term solution (also some of you might be reluctant to explain how you got the bitcoin in the first place)

 

[Garygoldenballs]

Had emailed Coinbase yesterday asking: "Can I withdraw money from your wallet to my bank account?"

seems like you can do it there if you have an US bank account

After selling to your Coinbase fiat wallet, you can opt to either withdraw funds to your US bank account or repurchase digital assets on the platform.
When initiating a withdrawal of a sell from your fiat wallet to your bank account, a short holding period will be placed before you can withdraw the fiat

posting in case it helps someone

 

[befethr]

it would be really nice to find a website that deposits the money into my local bank account

It is possible, wirex will provide you with iban account meaning you will be able to transfer money (SEPA and SWIFT) to any traditional bank account or just pay your bills straight from there. Unfortunately, as I just checked they do not ship cards to Brazil

 

[Garygoldenballs]

It is possible, wirex will provide you with iban account meaning you will be able to transfer money (SEPA and SWIFT) to any traditional bank account or just pay your bills straight from there. Unfortunately, as I just checked they do not ship cards to Brazil

thanks for your amazing help, befethr I just emailed Wirex to confirm if they will take my Btc and send me to my brazilian bank as BRL. Will update soon!

 

[Stephanie_666]

Hello Raul!
Check out Localbitcoins, it is a very common site in Latin America (I'm from Colombia) where you can buy and sell cryptocurrencies.
You can find buyers that are willing to transfer to your bank account, to your paypal account or sometimes they will send you the cash.
Good luck!

 

[Garygoldenballs]

Wirex responded that they can't change the money into Brazilian Real, so I guess all of us who don't use US, EUR gotta find another option

 

[QuinnLane]

cy

Is that new? it's not on their support documentation.
CB Getting paid, Paxum, Check by mail, Wire Transfer, or Direct Deposit (USA)

I find their support docs are outdated most of the time.
Here are all of the options that show up for me.

 

[Jackie_line]

I live in Brazil, so I'm looking to convert it into BRL. I have googled and there are no Bitcoin ATMs in a 1000km radius.



Thank you, ForceTen. I've read the entire thread. If anyone is in the same situation as I am: for what I understood the posters recommended doing online purchases or using bitcoin ATMs

I live in Brazil too and I have the same doubts.
Would it work to request the payment of chaturbate to MercadoBitcoin?
MercadoBitcoin can transfer in BRL to your bank account, but I'm in doubt if it would work to request the payment of chaturbate to MercadoBitcoin.

 

[KingMarti]

So i get paid in btc by cb.
the best way to do it thats going to have the least amount of restrictions and lowest fees, you'll need the following:

Bitcoin wallet ( I use copay, their fee rates that get paid to the miners are adjustable to an extent, it's user friendly and pretty stable ( they have had maybe 3 tech issues with their server since last oct and they normally clear it up in a couple of minutes to a few hours)

a transfer wise account or some other account that will give you access to an eu back account

piixpay - they take a payment in BTC and deposit euro into your eu bank account (this is why I recommend transferwise and then once the money is in your transferwise you can either transfer it into local currancy and withdraw it to a bank account or just get a transferwise card. (you might be able to find a deposit service in your local currency, I am in the eu so only know about this one.

the other option would be to use a bitcoin atm, they are faster than using piixpay but the usual commission amount is around 12%, you can check for atms in your area on coinradar i think it's called and the atm's show up with the fees attached to them although from my experiance they are normally not 100% correct.

A word of warning about using services like wirex where you get a debit card, the bitcoin wallets arnt acctually your's as in you dont have the private key so if the company goes under for any reason or they close up then it's bye bye bitcoin. or the other thing that can happen that happend with a ton of bitcoin debit cards about the same time first choice pay went down is that the banks revoke access to the cards.


With transferwise you could also get a USA account and just do direct deposits... this is something that im actually contemplating doing myself.

 

[Garygoldenballs]

I live in Brazil too and I have the same doubts.
Would it work to request the payment of chaturbate to MercadoBitcoin?
MercadoBitcoin can transfer in BRL to your bank account, but I'm in doubt if it would work to request the payment of chaturbate to MercadoBitcoin.

Why don't you think it will work? Sounds possible. You just need to fill up the "bitcoin adress" field, and they will transfer it. I have also emailed CB asking if the recipient would see that my money was from sex cams and the support team told me that no, it won't be visible


Thank you KingMarti for all the information!

I solved my issue by transferring my money to Electrum (just one more btc wallet, my friend recommended). This same friend bought my btc by giving me real money and I made the transfer. But this won't be availiable often (gotta find the buyer etc)

For other non-USA models out there, I found another way. I used to be a poker player so I know a lot of people who want to buy dollars in Pokerstars. You can transfer your btc to Neteller and from there to Pokerstars, go to a poker club and tell people you have USD in the website for sale. Not so practical but it will work for someone who needs to withdrawal quickly. Just don't end up losing it all at the tables lol