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Old 09-19-2020, 03:23 PM  
Megatron96 Megatron96 is offline
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I have a dumbass question about Bitcoin
Pretend I don't know anything about cryptocurrency. How do you convert it to cash or USD for deposit into a bank acct? Are there fees or is there a conversion rate, all that type of stuff. Dummy it down for a 12 year old. And how much of a pain in the ass is the process?
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Old 09-19-2020, 07:57 PM   #16
Megatron96 Megatron96 is offline
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So of the popular available bitcoin platforms(?) which one would you guys recommend as the easiest to navigate for dumbasses like myself?
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Old 09-19-2020, 07:59 PM   #17
Jewish Rabbi Jewish Rabbi is offline
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Coinbase is probably the easiest. Be sure to report gains on your taxes if you use them tho.
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Old 09-19-2020, 08:00 PM   #18
SuperBowl4 SuperBowl4 is offline
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Old 09-19-2020, 08:03 PM   #19
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Coinbase is good for beginners but high fees.
Coinbase Pro is good for novice, lower fees than Coinbase.
Kraken is good for after that with lowest fees.

That's the progression I went through.
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Old 09-19-2020, 08:22 PM   #20
loochy loochy is offline
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Quote:
Originally Posted by scho63 View Post
Ok so what do you pay to buy in and out? It was close to $700 for a $10,000 trade. Like 7%
wtf
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