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At least here in Brazil the best way is to convert the USD to Bitcoins and sell it in the local market, however not every company is willing to do so. When the
by PedroSena 12y ago
At least here in Brazil the best way is to convert the USD to Bitcoins and sell it in the local market, however not every company is willing to do so.
When there is no such option: Wire transfer
- waterlooalex 12y agoIs it safe to use Bitcoin?
- Someone1234 12y agoNo. Bitcoin is very volatile, so you could lose or gain unknown amounts during the "transfer" (even if it is within a few minutes). Additionally unlike a traditional wire transfer you cannot prove that you're transferring it to yourself (it is an anonymous currency by design after all) therefore they could come after you for tax (or worse accuse you of laundering). Wires are a rip-off. However the costs are knowable and there is a very low risk of any misunderstanding from the big G in either country. I use a company called XE, and to be frank it is a huge PITA. But at least all money is completely traceable/verifiable (the broker is almost too paranoid about fraud, that's why it is such a pain) and the fees are relatively low. It would be very easy to prove with XE that I sent it to myself.
- waterlooalex 12y agoA friend had mentioned XE to me, it looked like a good option. What makes it a PITA? You mentioned broker but I'm not sure exactly what you mean.
- mattm 12y agoI also use XE. I think he might be referring to setup. Setting up an account takes a lot of documentation and took a few weeks IIRC. Once it's setup though, things are easy.
- deleted 12y ago[deleted]