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? [Reply]
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. [Reply]
Originally Posted by big nasty kcnut:
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.
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. [Reply]
Originally Posted by Megatron96:
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?
Coinbase (right into checking account)
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 [Reply]
It’s pretty easy. I made a nice profit off the market this year using Coinbase. I can buy or sell $10,000 a day and it’s in my bank account the next morning. [Reply]