How I exchange BCH to my currency.
Hello my dearest read.cash family ❤️ ✨
Hope to find you very well today, happy, healthy, strong, and blessed.
Today I decided to make a change of pace, only for today, to share with everyone how I exchange my earnings from read to my currency. Then my brain froze while I was writing this sooooo,So much for keeping my weight in check right? I made some Chocolate Cookies to kick start it.
Early on in my journey here I asked some people how to exchange BCH to VES (bolívares) my country's currency. I had help from @CoquiCoin and @Frankmart who very diligently made posts about this subject. Coqui wrote My experience using P2P on Binance, and Frank wrote How to transfer BCH from Read.cash to BINANCE. I'm so grateful to them for taking the time to do this.
Both posts are awesome and although I found them helpful in regards to knowledge, I couldn't use them because I don't have a Binance account. To be completely honest, I did, but not verified and now that account is closed.
The reason I didn't verify my Binance is that I don't have a valid ID nor a valid Passport, both documents are expired and I haven't been able to renew them, one because is way too expensive for me (for many citizens here actually) and the other one the office who emits them has a schedule determined by the last number of your ID, which means you can only go the day that is assigned to your last number.
On top of that, they only let through a certain amount of people each day, so you can only imagine the long lines and of course, I can't forget to mention those who sell their spots to newcomers so, I can be in line for maybe six hours and come back home empty-handed.
Enough pause, let's continue.
Due to the fact that BCH is my main source of income, I had to find an alternative, and I didn't have to look much, I already had it, it's called Capybara Exchange. I use it to sell my Hive tokens whenever I need to and it's quite easy and fast, with its downsides as well, which I'll mention as we go, so, let's go.
Disclaimer: this is in any way financial advice nor with publicity purposes. I'm just sharing with all readers what I do to exchange BCH for my currency because in my town nobody accepts it as a payment method.
First, you go to Capybara Exchange website and open an account and in there, there's the link to their Discord Server. You have to use Discord to make the transaction.
When you have those, that's where the fun starts. You have to message them through a DM to ask to exchange whatever amount of BCH you wish, their current minimum is 0.012BCh which today is about 5,13 USD.
When they respond to you they say yey or nay to you depending on their fonds. If the answer is YEY, they ask you only to send the amount of BCH you said.
To do so, you go to their site to get their BCH Wallet Address.
Careful! Do not hit the button register. They'll tell you when to do that.
When you send the BCH, take a screenshot of the transaction and send it to them through Discord, and wait for them to tell you when they receive the BCH and that you can register the order.
Take the https from the screenshot you took of the transaction and paste it as the link and click register, and that's that. You just have to wait for them to transfer the VES to the Bank Account you have registered on their server.
All of this takes from 30 to 45 minutes, is relatively fast as long as they have fonds and receive the BCH quickly. The main downside is that they mostly calculate the value of the BCH using the USD below the official and the parallel price one that is used all over the country.
For instance, if I want to exchange 0.023BCH, that's about 10USD, and today, according to the Venezuelan Central Bank, each USD is worth 4.59 VES and the Parallel Price is 4.90, so that means I should get between 45.9 to 49 VES for my 0.023 BCH.
With Capybara as of writing this, I would get 42.68VES for 0.023BCH, less than 10USD both official and parallel, meaning that if I want 10USD whole in my currency, I would have to exchange a little more BCH to get that, and they don't tell you if it is due the transaction fees or whatever, that's just how it goes.
The ideal scenario would be that I could use my BCH freely without the need to exchange it for any currency. Is sad enough that the market is still in red to keep losing BCH anytime I need to exchange which is weekly.
That being said, I don't have the luxury to say no, and the other sites that make that transaction to my currency require KYC which for the time being I can't do, so, my best option is Capybara and I'm grateful for them, warts and all.
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This is 100% Original Content.
The images are ScreenShots taken by me with illustrative purposes and edited using Windows 7 Paint tool.
The first and last image are from Unsplash and provided by this site.
See you next time.
✨✨Blessings✨✨
January 4th, 2022.
I have the same problem as you. Honestly: I several times tried to verify on this exchange, and all without success. And I decided that there is no need to stop there. There are other exchangers! BSH I withdraw to the wallet faucetpay (verified for years!!!) And there through various exchangers such as Best change (more than twelve years of reliability!!!) And even if you cheated himself out of the presented (100,000) exchangers. The system Bestchange itself will return your money! Through this exchanger money could output even the Pope of Rome! (from phone to phone, from card to card, bank transfers, withdrawal of crypto for anything, fiat to fiat, generally speaking, there's nothing but!)