Best way to cash out my bets in Bitcoin and then move it to us dollars (USA Players)
As you may know, most of the best sportsbooks is getting into the Blockchain era, moving all payments to cryptocurrencies and Bitcoin is the first player option to cash out winnings. There’re many players (Mainly from “old school”) that hate Bitcoin and/or any other cryptocurrency since exchange it to FIAT could be complicated.
However, you don’t have to get mad with technology since today there’re many ways to cash out your Bitcoin to FIAT with low fees, we’ll talk about Localbitcoins.com.
This article has been created mainly for USA citizen player because rules here are much different than others locations of the world and get Bitcoin to FIAT could be a kick in the butt if you don’t know how to do it.
Cash out Bitcoin to FIAT using Localbitcoins.com
Localbitcoins.com is a well know website where you can trade with thousands of traders in the USA; there are many ways to exchange your Bitcoins. For example, if you would like to transfer BTC to PayPal there’s trader that offer this method, you can quickly get your PayPal account founded.
Localbitcoins.com is the middleman, once that you open an account, you will be able to access to your Bitcoin Wallet where you can send Bitcoin using your assigned BTC Address.
One that you have your wallet loaded visit the TAB called “Sell Bitcoin” and you will see a list of traders offering different exchange options. We highly recommend with +500 traders rating.
Just click on “Sell,” and you will have to provide the payment info to the trader, he/she will have 84 minutes to mask the transaction as completed, once that you validate that money was correctly sent you can release the Bitcoin.
If the trader doesn’t apply for the payment in 84 minutes, Localbitcoins.com will refund your BTC.
From my point of view, the “Bank deposit” choice is the best way to exchange your BTC. If you use PayPal, there’s always a possibility to get a trade complaint. PayPal doesn’t allow cryptocurrencies deal through PP platform, that’s the reason why using PayPal as the first option is not recommended and is considered as a high-risk transaction. From my experience, a Bank deposit is the best choice to exchange your Bitcoin.
Remember you should deal just with high rating traders, with a 100% rating.