Post
Topic
Board Bitcoin Discussion
Re: What is the best way to cash out?
by
crilleaz
on 10/06/2016, 22:23:58 UTC
Thanks for your answer guys. I did try to order a Bitcoin creditcard, but my mistake was that I ordered two (different sites to test them out). Both had the same creditcard provider which locked me out unless I showed all kinds of documents.

I'm going to try out local bitcoins, but how do I know the money they are giving is real?

Easy, it isn't online. You will meet physically someone. Face to face. So unless you're given forged notes, or the guy in front of you is a magician, the money will be real.

I mean, how can I be sure it isn't counterfeit money
Trade with people that has a good reputation to reduce the chances of fraud. Alternatively, try using the security features (ie. watermarks, texture, quality of paper) to identify the notes. Alternatively, use a counterfeit note detector[1].
[1] https://www.amazon.com/Counterfeit-Detector-Marker-Currency-Buy1get1FREE/dp/B001F02XAY/191-5985176-9990528?ie=UTF8&*Version*=1&*entries*=0

Without anyone knowing your name or address?

Localbitcoins or a bitcoin atm (if available in your place). The former option needs you to meet someone physically and trade face-to-face. You don't need to give him/her anything about you, just setup a place where you two would meet. The latter is as easy as scanning a qr code and wait for the cash to come out of the machine.
Don't ATM's require you to have a bunch of ID and things like that? They know who you are?
IDK I never used a BitCoin ATM.
Bitcoin ATM have the KYC/AML features built in and in some jurisdiction, the operator is required to enable them. There are some jurisdiction that does not require this if the amount purchased is below a specific limit. Check with the Bitcoin ATM operator.

Thanks! Good to have such a pencil.

Anyone knows how localbitcoin transactions (in person, cash) work? You meet at a public place, but what than?