What is faster? Bitcoin to bank? Cheque? Or drugs from silk road 3.1?
Recently I have been trying to extract wealth into fiat from my cryptocurrency horde. I am doing this for several reasons, mainly I want to know that I can transform into fiat if I need too, and also some of my friends who want to invest want to see that the investments can be taken back out in fiat.
I struggled at first with this. Coinbase and many others failed me. I couldn't be bothered to send them a SEPA transfer to confirm that I can withdrawal as it was very complicated and everything seemed against me. What a boring extra step it was. So I looked around and found nothing until @scalextrix mentioned https://uphold.com.
I really enjoyed the look and feel of uphold. It looked very simple in regards to verifying and withdrawing. It was actually so simple I didn't believe it. I was able to send BTC to my bank account. They would automatically convert for me at a nice rate with very tiny exchange fee.
5 business days later it arrived. This is the same amount of time a cheque of mine recently took to clear. I also may have purchased some dro' from silk road 3.1 to see if it would arrive before the bitcoin. I am still waiting, but imagine it will be here within a few days.
This is my first time sending BTC to my bank account. I am very excited and feel like I have released the power of the blockchain onto this world.
I will probably buy myself a dress or something nice to celebrate.