How do you turn your crypto into cash (or deposit into a bank) and what percentage do you generally lose? I'm looking for solutions outside of the usa and I am fairly ignorant in international crypto information.
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Do you turn crypto into cash outside of the US?
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KingMarti
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crypto atm's are a thing, each atm broker has it's own rate, generally it's between 12 and 20% and the exchange rate is unfavorable but not horrendous.
Coin atm radar as far as I know maps out all atm's world wide.
Crypto.com the exchange gives you a pre-pay debit card, works great, they removed all the rewards from the card which used to be really good, but does the job of crypto -> spendable money
Nexo.com proberly my favorite 3rd party service, again just a wallet that gives you a pre-pay debit card (can also use it in "credit" mode where they will give you a line of credit against your crypto holdings) any funds not being held as colateral on credit earn a nice bit of interest too with USDT and USDC being able to get you close to a 15% manual interest which gets paid out daily. Sounds high but they have been going from either 2017 or 2019, survived when celcius and block fi went under. They have recently made a change though where to gain any interest you have to have $5000 on the platform. The card itself is generally fine (never used it on atm's) but I did find a few stores just reject the card, didnt have that issue with crypto.com
A lot of currancy exchanges (here at least) will also exchange bitcoin now too.
Coin atm radar as far as I know maps out all atm's world wide.
Crypto.com the exchange gives you a pre-pay debit card, works great, they removed all the rewards from the card which used to be really good, but does the job of crypto -> spendable money
Nexo.com proberly my favorite 3rd party service, again just a wallet that gives you a pre-pay debit card (can also use it in "credit" mode where they will give you a line of credit against your crypto holdings) any funds not being held as colateral on credit earn a nice bit of interest too with USDT and USDC being able to get you close to a 15% manual interest which gets paid out daily. Sounds high but they have been going from either 2017 or 2019, survived when celcius and block fi went under. They have recently made a change though where to gain any interest you have to have $5000 on the platform. The card itself is generally fine (never used it on atm's) but I did find a few stores just reject the card, didnt have that issue with crypto.com
A lot of currancy exchanges (here at least) will also exchange bitcoin now too.
KingMarti
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- Jul 9, 2017
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People like to compare Romania to Colombia in this industry like they have similarities but it seems like you have access to so many perks in Romania. Ive never been so I can't say for sure but it seems like a nice place if you have external income. I heard you also have a 10% income tax? Do you avoid sending the money to a bank? I assume they are just as much of a pain about crypto as other countries banks.
KingMarti
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- Jul 9, 2017
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- @KingMartiCam
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None of the things I listed were exclusive to Romania and are available most places. I think anyplace where he currency you make is valued higher than the local is generally good.
I try avoid banks, I have had too many issues with them (both here and in the uk), tbh I'm not overly happy with using 3rd party services for crypto, but nexo kind of makes up for it with their interest payments. I also find that fintech "banks" like wise generally give me less issues, still dont trust them though
Personal tax is 10%, business tax is 16%
I do private trades with people that I have dealt with over the years and who I can trust. BTC to interact, old school runescape gold to crypto, lots of markets out there lol.
A site worth checking out would be https://localcoinswap.com/
A site worth checking out would be https://localcoinswap.com/
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