Bitcoin exchange that supports withdrawal to Dominican Republic?

[cryptoli]

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]

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 ?

 

[malko]

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

 

[cryptoli]

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' 🚀

 

[malko]

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!

 

[RDKNIGHT]

Bitcoin = Ponzi scheme!!!!!

 

[windeguy]

Bitcoin = Ponzi scheme!!!!!

Fiat Money = Ponzi scheme!!!!!!!!!!

 

[Big]

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]

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]

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]

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]

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]

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]

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.

 

[malko]

it doesn't

Cryptorefills

www.cryptorefills.com

 

[RDKNIGHT]

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]

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]

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:

EEUU embarga US$24 millones en criptomonedas a petición de Brasil

El Departamento de Justicia de Estados Unidos embargó US$24 millones en criptomonedas en las cuentas digitales de una empresa de un brasileño con sede en el país norteamericano a petición de las a

www.eldinero.com.do

Did they use a drill to the kneecaps?

 

[windeguy]

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.

 

[playacaribe2]

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;

Hackers Stole Over $4 Billion From Crypto Crimes In 2019 So Far, Up From $1.7 Billion In All Of 2018

Atherton Research's Principal Analyst and Futurist Jeb Su shares his take on CipherTrace's latest Cryptocurrency Anti-Money Laundering (AML) report which analyzes cryptocurrency-related crime and provides a comprehensive overview of major cryptocurrency thefts, scams, and fraud worldwide.

www.forbes.com

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