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You sign up for an exchange send them your coins, sell it on market, then withdraw the money to your bank account. The first part might take some time as they
by BelenusMordred 6y ago
You sign up for an exchange send them your coins, sell it on market, then withdraw the money to your bank account.
The first part might take some time as they verify your details but the rest is absurdly fast.
I can send coins to a domestic exchange and have money back in my bank account within about 20 mins, that's at any time, any day of the week.
If you are convinced that 3rd parties can never be trusted even for such short periods of time there's p2p markets like Bisq where the keys/wallet never leaves your possession and it's a multisig transaction directly with someone else.
- iforgotpassword 6y agoThat's the theory. There's been news about exchanges getting hacked, or suddenly vanishing with everything over night. Obviously that's the only kind of news you hear if you're not dealing with crypto currency in any way so I'm biased, and tbh I don't even know if there have been lawsuits over this and how they ended, but even then it seems a requirement to only do business with domestic exchanges like you said, to even have a chance to hold someone accountable.
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