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Per popular demand I am expanding the last few steps of the how-to, mainly: trading crypto to fiat (USD, EUR, etc) and cashing out.
The exchanges mentioned earlier remain in effect, but we'll go into detail as to what they require to deposit/withdraw real life paper money and the fees associated with that.
- BTC-E, I have the most personal experience with this exchange, Ive hand an account with them since 2012 and its carried over perfectly, appreciated in this game. btc-e has very few requirements for opening an account, depositing and withdrawing any money, crypto or fiat, they dont ask for an id, bank account or credit cards; which is good, however the downside comes in fees and limited options for customers outside the Russian Federation (apparently btc-e is in Russia, btw dont let this make you think its unreliable, Ive had an account with them personally for over a year now and Ive found the exchange to be very steady and reliable).
Ok, to the options, they have the following withdraw options:
- Wiretransfer - 1.5% fee - $1000 Minimum withdraw
- Paypal - 7% fee - $500 Minimum withdraw (this is a huge fee, I agree)
- Perfect Money - 0.5% fee -$10 Minimum withdraw
- LiqPAY -1% fee -$100 Minimum withdraw
- QIWI -3% fee -$1 Minimum withdraw
- Epese.com -5% fee -$100 Minimum withdraw
- Ecoin - 5% fee -$100 Minimum withdraw
- OKpay - 0% fee - $1 Minimum withdraw
- payeer -0% fee - $10 Minimum withdraw
These other options seem unknown to me and to most people here, so we will not recommend them. What I do recommend doing here is trading to bitcoin and extracting the bitcoin, btc-e is sadly no good for extracting USD/EUR
- Coinbase - the best BTC to USD for US residents. The exchange is stable, has been around for quite a bit and has reasonable options. AFAIK it requires a bank account to be linked in order to transfer funds, I do need more info on this though.
- Localbitcoins - this is my favorite option period. However BEWARE! this is not an exchange, this is a person to person sales site, the site basically connects buyers and sellers, but the rest is done between them, so selecting the right buyer and payment option for your bitcoins is VERY important. The site does provide both feedback and trade totals and verification options.
Now if you pick this option I highly recommend you choose to either receive payment by Western Union or to meet the buyer face to face (its possible if the buyer is willing) or use MoneyPak (for US based Paypal accounts), it is irreversible once cashed.
More soon, very soon
What would that be? You guys don't have a megathread or anything. Should I start my own? I'd like someone to tell me how to use CUDAkernel prefixes, but if this isn't the place to put it. :\That's a pretty high hash rate for a GTX770. Can you put this in the proper thread next time though.
I thought it was too high. I checked CUDAminer and now I am getting ~400Khash.What do you feel the issue is? The green checkbox shows you have a worker connected to their pool, and at 782 Kh/s it is hashing at what looks to be a decent rate.
I'm planning on firing up the old(new) rig this weekend. Got a new 3070 and don't really have other plans so I might as well try and make some coin. It's been some years so hopefully this great reference will get me started. Planning on mining ETH to start with. I might put my 2070 to work too if its simple enough.
A special thanks to ZL1 for keeping this current. You are you're brothers keeper.
Hoping to see the cash out post updated soon. There seems to be a lot of options but the fees and requirements vary greatly. What works best for you guys?
When setting up my Electrum wallet should we still use Legacy seed or has Segwit been around long enough?
Can I recover funds from an old Bitcoin-QT wallet? I didn't have much in there, maybe a couple of Bit pennies, but I do have the address and I remember my psw.
Also, what wallet do you use for Ethereum? (I'm assuming Electrum is for BTC only)