Bitcoin exchange that supports withdrawal to Dominican Republic?

cryptoli

New member
Nov 7, 2020
9
2
3
Santo Domingo
Hi everyone,

I am looking to sell some Bitcoin (BTC) and was wondering if anyone knows an online exchange that supports withdrawing fiat (e.g. USD) to a Dominican bank account. I know there are other available options (e.g. Bitcoin ATMs or localbitcoins.com) but both have relatively high fees and low limits.

So far, I have tried with Kraken but was told their bank (Bank Frick) won't do SWIFT transfers to the Dominican Republic.

Thanks!
 

malko

Campesino !! :)
Jan 12, 2013
4,592
200
63
Your best bet would be selling p2p.
I know some websites use intermediates--- for a small fee-- so neither of both parties get stiffed.

Coinbase also supports the DR, not that I use coinbase, mind you. If you do sign up with them, remember to sell through coinbase pro for lesser fees.

Depending on your " home country " would it not be easier to link your Kraken account with your bank account there, and access the funds from there ?
 
  • Like
Reactions: DonDimi

malko

Campesino !! :)
Jan 12, 2013
4,592
200
63
Also, my little finger tells me it is not the time to cash out ......hodl to the moon !! :) :)
 
  • Like
Reactions: DonDimi

cryptoli

New member
Nov 7, 2020
9
2
3
Santo Domingo
Thanks for the replies, still no conclusive answer but good alternative suggestions.

> Coinbase also supports the DR, not that I use coinbase, mind you. If you do sign up with them, remember to sell through coinbase pro for lesser fees.

Their Dominican Republic page doesn't list bank withdrawal, only crypto-to-crypto conversion: https://www.coinbase.com/places/dominican-republic

> Depending on your " home country " would it not be easier to link your Kraken account with your bank account there, and access the funds from there ?

Well that's what I ended up doing but would still be nice to have a direct alternative.

> Also, my little finger tells me it is not the time to cash out ......hodl to the moon !!

Just cashing out a bit for an urgent expense but still HODLin' :ROFLMAO: 🚀
 
  • Like
Reactions: DonDimi

malko

Campesino !! :)
Jan 12, 2013
4,592
200
63
You could also look into stuff like celsius and nexo that let you borrow fiat against your crypto.
Not to sure how interesting it is for you as the rates are around 6%. I never actually took credit out with them, I do the opposite as in providing liquidity to the market with tiny amounts.......cos not your keys, not your coins! :) :)
 

Big

Well-known member
Apr 24, 2019
1,960
891
113
Bitcoin = Ponzi scheme!!!!!
lol, they say many have made millions on bitcoin, but no one actually knows said person. Try to rent a hotel, car or pay a bill with bitcoin. There was an article in a financial magazine that said a man in L.A purchased a home in L.A using bitcoin. He was evicted and all of his other assets were seized.
 

windeguy

Platinum
Jul 10, 2004
34,097
1,752
113
lol, they say many have made millions on bitcoin, but no one actually knows said person. Try to rent a hotel, car or pay a bill with bitcoin. There was an article in a financial magazine that said a man in L.A purchased a home in L.A using bitcoin. He was evicted and all of his other assets were seized.
I think the money to be made is in "bitcoin mining" computers. It is quite the fascinating new era of financial creativity.
 

Big

Well-known member
Apr 24, 2019
1,960
891
113
I think the money to be made is in "bitcoin mining" computers. It is quite the fascinating new era of financial creativity.
check out GBTC, it trades otc, its the only way I would play that hand grenade
 

windeguy

Platinum
Jul 10, 2004
34,097
1,752
113
check out GBTC, it trades otc, its the only way I would play that hand grenade
I have never been into trading stocks, under or over the counter, it is just not my game at all.
It was dollar cost averaging into mutual funds that allowed me to retire at 49.

So, in the DR, how does bit coin actually work?
 

malko

Campesino !! :)
Jan 12, 2013
4,592
200
63
Last 6-7 months, holding, not trading :

-5 % return on the stock market
-40% on BTC ( against the €, more like 50% against the $ )
-90% on ETH.......

Nuff said
 

Big

Well-known member
Apr 24, 2019
1,960
891
113
I have never been into trading stocks, under or over the counter, it is just not my game at all.
It was dollar cost averaging into mutual funds that allowed me to retire at 49.

So, in the DR, how does bit coin actually work?
it doesn't
 

malko

Campesino !! :)
Jan 12, 2013
4,592
200
63
I have never been into trading stocks, under or over the counter, it is just not my game at all.
It was dollar cost averaging into mutual funds that allowed me to retire at 49.

So, in the DR, how does bit coin actually work?
Bitcoin is not a " currency" --- even though you CAN spend it lots of places nowadays--- but more of a store of value.

Think of it as having physical gold bars under your bed that everyone knows you have but that nobody can force you to hand over-- even governments -- bar taking a drill to your kneecaps so that you divulge your seed.

BTC is decentralised, which means change to the protocol can not be done by a single entity ( like the FED going brrrrrrrr ), and each transaction is validated by a number of nodes before being transcribed onto the blockchain for eternity.

Other crypto currencies are more orientated towards spending ( like nano and ripple--- who is used in the remittance business ), others are privacy orientated ( like monero ) and others still are used in defi ( decentralised finance, imagine not needing a broker to buy stocks, crazy, no ? ).

The whole world of crypto is about being YOUR own bank, with all the positives and negatives that come with that privilege.
 

RDKNIGHT

Bronze
Mar 13, 2017
1,099
181
63
Last 6-7 months, holding, not trading :

-5 % return on the stock market
-40% on BTC ( against the €, more like 50% against the $ )
-90% on ETH.......

Nuff said
talk to me when it disappears with all the secret layers,,,,,,,BTW I avg last year 2020 25% buying on the dips and selling a few days later..........
 

malko

Campesino !! :)
Jan 12, 2013
4,592
200
63
talk to me when it disappears with all the secret layers,,,,,,,BTW I avg last year 2020 25% buying on the dips and selling a few days later..........
Boomers and bankers have being saying that for the past 10 years.........

Now bankers are getting into crypto big time, and soon boomers will FOMO in too.
 

windeguy

Platinum
Jul 10, 2004
34,097
1,752
113
Bitcoin is not a " currency" --- even though you CAN spend it lots of places nowadays--- but more of a store of value.

Think of it as having physical gold bars under your bed that everyone knows you have but that nobody can force you to hand over-- even governments -- bar taking a drill to your kneecaps so that you divulge your seed.

BTC is decentralised, which means change to the protocol can not be done by a single entity ( like the FED going brrrrrrrr ), and each transaction is validated by a number of nodes before being transcribed onto the blockchain for eternity.

Other crypto currencies are more orientated towards spending ( like nano and ripple--- who is used in the remittance business ), others are privacy orientated ( like monero ) and others still are used in defi ( decentralised finance, imagine not needing a broker to buy stocks, crazy, no ? ).

The whole world of crypto is about being YOUR own bank, with all the positives and negatives that come with that privilege.
Right, no government can take it, right:


Did they use a drill to the kneecaps?
 

windeguy

Platinum
Jul 10, 2004
34,097
1,752
113
The U.S. Department of Justice seized $ 24 million in cryptocurrencies from the digital accounts of a Brazilian-based company at the request of Brazilian authorities, Brazilian official sources said Friday.

I guess it was not hidden under the bed well enough.
 
Jan 9, 2004
9,243
579
113
The U.S. Department of Justice seized $ 24 million in cryptocurrencies from the digital accounts of a Brazilian-based company at the request of Brazilian authorities, Brazilian official sources said Friday.

I guess it was not hidden under the bed well enough.
So far this year 1.8 billion in cryptocurrency has been hacked/stolen/disappeared.

4 billion of cryptocurrency was stolen in 2019;


No FDIC insurance there.

Cryptocurrency reminds me of the Telex-Free scam...........where everybody was getting rich with credits, it was un-reportable, you could convert to cash easily................and then..............boom went the dynamite.

I remain skeptical that it will ever be a "currency".........................a commodity perhaps..............much like gold and silver..............but not a currency.

I believe there is at least one cryptocurrency ATM in SD, but you can only buy it..............not sell it..................at least that is my understanding.

Respectfully,
Playacaribe2