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Turning those Bitcoins into USD

Overview

So, you may be thinking "Hey, I've got a some bitcoin. I need to sell them for USD(or other currencies) to buy everyday things like groceries." Here's how I do it.

So, at the current moment it's a transfer rate of around $300/bitcoin, not a very good rate. However, this is the process that I go through, not very complicated.

Cryptsy



This beautiful trading platform is great, if you don't have an account with them. Make one. Make sure you use Authy or something with all accounts relating to your money, it's worth your time.

Add Bitcoin to Cryptsy Account

Once logged on, go to your balances page, and select the bitcoin link. A little popout window will give you some options, select deposit, generate address and then send your bitcoins into that address. Make sure you give about an hour or so, so it can confirm with the network.


Sell Bitcoins

Now, you've got your money right where you want it. Go to the markets on the left side and click BTC/USD. Here there will be a graph and an area where you buy(left side) or sell (right side). Once you select the amount you want to sell and the price that you want to sell them at. Place order, and wait for it to be filled. The order you make can be filled instantly or take a good deal of time, dependant on your price and demand.


Get your USD

You have USD balance now in your cryptsy account(Left hand side). There are more steps! Can't wait right? Send your money to your EgoPay account (make one if you don't have one). It will take "up to two business days" to transfer these funds.

Your money will take some time to register in this account, the of course... Time to make another account!


Withdraw that money!



The gorgeous little platform, this is easily the only site that I sincerely like out of all the sites used within this article, pretty site and easy to use.

Once you make an account here and do some fun little customization, you can set up a withdrawal to your personal bank account. When you go to set up your withdrawal, make sure you select the country (for me, Canada), because the information they need changes.

After you have added your bank to your Payza(confirm they're two micro deposits) account, just withdraw your money to that account!

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Location: Toronto, ON, Canada

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