Post
Topic
Board Bitcoin Discussion
Re: How to convert to fiat anonymously?
by
Albert Hamilton
on 21/04/2015, 10:09:19 UTC
I have thought about Localbitcoins, meeting with an actual person and getting the cash, but that is annoying as hell, I want to be able to withdraw money from an ATM instantly, without depending on some random person being available that may or not rob you.

I've thought about mixing, but I have no idea how that works and i have no idea if that even solves the problem.

You may use mixer, but that would actually bring in more trouble to you. Because the coins that comes out of mixer are mostly traced back to some notorious source. If you can find any mixer that gives out freshly mined coins, that is a deal for you.

Once you get your coins, use www.localbitcoins.com or www.100bit.co.in for directly sell those coins. Do not need to meet anyone personally. Sell online. Just avoid to good to be true offers. That's all. It is super easy Smiley
The bank would know you received a transfer
what is the biggest amount of BTC to sell before it becomes a problem and raises alarm for the bank?

this still sucks compared to withdrawing cash from an ATM instantly.

When you withdraw cash from ATM, your pic remains in CCTV. But, when your are selling directly to someone, bank does not get to know for what he is paying you. There is no way bank can co-relate the transaction with your bitcoin unless the person you are trading with is reporting himself, which is very unlikely.