Liquidating Coins - what's the current best method?

[garetjax]

I know there have been older threads on this - but what is the latest best method for liquidating aeon/monero/sumo etc?

I finally have a bittrex account. Do I need a coinbase as well? Are there other accounts/exchanges that are better / lower fees?

Thanks

 

[Patrick]

Typically I convert to LTC, BTC or ETH then send to Coinbase. Check which ends up converting to the most at Coinbase as Coinbase pricing typically differs a bit from exchanges.

 

[Joel]

I've found that when dealing with exchange, converting your source coin to BTC then to LTC or ETH works best. BTC has ridiculously high transaction fees for transferring from exchange to Coinbase.

 

[max88]

What about paying for merchandise with crypto coins? There may be higher markup but saves on multiple bid-ask on conversions, and less headache. I think a few forums members mentioned and have done this.

 

[funkywizard]

What about paying for merchandise with crypto coins? There may be higher markup but saves on multiple bid-ask on conversions, and less headache. I think a few forums members mentioned and have done this.

I haven't tried it, but www.purse.io can be an option. From what I've read, you can easily enough get a 10-20% discount on buying things with bitcoin.

The way it works, people who want bitcoin and can buy products, will buy them for you on Amazon, and have them shipped to you. Then you send them bitcoin (I assume the site serves a quasi-escrow function).

Presumably the discount comes from the fact that some people want bitcoin but can't get it, but can buy real products. Like craigslist, there are reports of both legitimate users and scammers, so you should read up on how to do it safely and use common sense.

 

[funkywizard]

I've found that when dealing with exchange, converting your source coin to BTC then to LTC or ETH works best. BTC has ridiculously high transaction fees for transferring from exchange to Coinbase.

I've been using kraken for USD withdrawals. They work pretty well, especially since they upgraded their infrastructure about a month ago. The site used to run really slow (works well now), and other than that I haven't had any issues with them. Cheap wire transfer fees for withdrawals.

They support about a dozen major crypto currencies, and have decent volume.

If you're mining Aeon, ETN, SUMO, or other smaller coins, you'll need to convert them to one of the major ones before transferring here.

 

[freebsdrules]

I've been using kraken for USD withdrawals. They work pretty well, especially since they upgraded their infrastructure about a month ago. The site used to run really slow (works well now), and other than that I haven't had any issues with them. Cheap wire transfer fees for withdrawals.

They support about a dozen major crypto currencies, and have decent volume.

If you're mining Aeon, ETN, SUMO, or other smaller coins, you'll need to convert them to one of the major ones before transferring here.

What do you use to convert? bittrex? I'm looking to test out the process with a small amount of AEON to start.

 

[Godfr33]

Convert to LTC—->send coinbase—->>coinbase to gdax ( same login since same company)—-> sell on gdax= no fees.

Coinbase fees are too high gdax nada.

 

[funkywizard]

What do you use to convert? bittrex? I'm looking to test out the process with a small amount of AEON to start.

I used hitbtc, but bittrex is far better for volume / price for Aeon.