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Best crypto exchange for converting crypto to cash

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djefferis

djefferis

Joined
Jan 8, 2024
Messages
3,955
I used LTC for daily transactions- it is faster and cheaper transfer.

I stopped using it as it’s also more volatile day to day than BTC and ETH. Again - nothing like sitting holding even 5k of that stuff and losing 5% over nothing.

It’s why I prefer stable coins. Also can make 3% APY on the ETH I hold automatically on Kraken vs .1 on BTC - doesn’t eliminate the risk of volatility- just offsets some of it by giving back a little each week.

The ease of purchasing BTC is what makes it so useful - can literally walk into an ATM stick in $100 and purchase. But we have a huge gap between niche uses of crypto and widespread acceptance. Making a few purchases online and offered crypto to each vs doing PayPal and their 3.9% fee - even offering to walk them through receiving and selling on PayPal - people have no idea and half acted like I was trying to scam them by offering crypto over old fashioned PP.
 

Tanko

Tanko

Joined
Oct 27, 2021
Messages
54,483
I used Gemini for many years until one day I got an email saying my account was closed and they would not give a reason.

I believe they may have since increased fees but they were very low not long ago.
I had the same thing happen at Gemini. Really liked them too

Guess they didn’t like our kind. Similar to Coinbase kicking out the gamblers years ago
Did they take your crypto or refund it when closing your account?
 

Tanko

Tanko

Joined
Oct 27, 2021
Messages
54,483
I used LTC for daily transactions- it is faster and cheaper transfer.

I stopped using it as it’s also more volatile day to day than BTC and ETH. Again - nothing like sitting holding even 5k of that stuff and losing 5% over nothing.

It’s why I prefer stable coins. Also can make 3% APY on the ETH I hold automatically on Kraken vs .1 on BTC - doesn’t eliminate the risk of volatility- just offsets some of it by giving back a little each week.

The ease of purchasing BTC is what makes it so useful - can literally walk into an ATM stick in $100 and purchase. But we have a huge gap between niche uses of crypto and widespread acceptance. Making a few purchases online and offered crypto to each vs doing PayPal and their 3.9% fee - even offering to walk them through receiving and selling on PayPal - people have no idea and half acted like I was trying to scam them by offering crypto over old fashioned PP.
Didn't El Salvador go to a BTC national currency a while back?
I wonder how that is working out? They must have made it so every purchase can be transacted in BTC, right?
 

FrankDexter

FrankDexter

Joined
Oct 19, 2021
Messages
217
Did they take your crypto or refund it when closing your account?
I deposited crypto, converted to USD on their exchange, then cashed out to my bank.

My balance was 0 when they closed my account.

Hi ***************,​
Following review, Gemini has determined your account must be closed.

Although we understand you have questions as to the reasons behind this decision, Gemini is unable to disclose any further details. The risk review process is confidential and Gemini will not be able to elaborate any further.

Any pending wires for your account will be returned to your sending bank account. This usually occurs within three to four business days.​
If a balance remains in your account, please contact customer support.​
—Team Gemini​
 

raiders72001

raiders72001

Joined
Jan 28, 2023
Messages
247
If you are in the US, the only place to bet in BTC is Bitcoin-Betting (Pinny odds and anonymous). Nitrobetting has turned into a scam shop and Betcoin no longer takes US. Those two were once my go to shops. VPN works at Bitcoin-Betting.
 
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nasios

nasios

Joined
Jan 8, 2024
Messages
174
I just converted usdt to euro in binance and I lost approx $20 in $2k aka ~1% fee.

There is also binance p2p where you do the job with other people in fair prices and even better - interested to let us know if anybody uses p2p services by an other company. The thing is you receive money from foreigners which can brought you in trouble - bank or wallet asking you for clarifications.

At this moment I go with binance exchange service until I find a better solution. I lose some money but I can digest the low fee at the end of the day.
 

djefferis

djefferis

Joined
Jan 8, 2024
Messages
3,955
Sucks Binance isn’t available in my state.

But Kraken+ updated to double cap through September - you now get 20k in free buy/sell of crypto for 4.99 month. Pretty good deal when you figure 1% would be $200 a month on that amount.

Robinhood fees reduced as well of your above 50k a month - think it’s like .2% - 1% below 49.999. Does not take a lot to hit 50k in a month really.
 

nasios

nasios

Joined
Jan 8, 2024
Messages
174
But Kraken+ updated to double cap through September - you now get 20k in free buy/sell of crypto for 4.99 month. Pretty good deal when you figure 1% would be $200 a month on that amount.
Interesting about Kraken, your maths are valid. I have an acount there already, I ll have a more extensive look on it and may switch to it for my conversions..
 
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