I have mined some coins with a pool and would like to sell them on an exchange and get real money for them. I'm in Canada if that makes a difference. Do I just pick one and deposit from my wallet? All answers appreciated.
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This has been widely answered, there is no one way to move fiat to btc.– John TJan 15, 2014 at 5:13
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2 Answers
Download the qt of the coin you mined install on your computer and synchronize with the network. On the pool place a withdraw request and get the coins in the wallet you just set up from the wallet transfer funds to the exchange. Transferring funds direct from pool to exchange is not suggested as some exchanges asks you not to do so.
I guess you mined coins and they are in your wallet, in which case you can transfer those coins wherever you want.
Open an account in an exchange (Bitstamp, Mtgox, Justcoin, Bitcurex, whatever), of course read that exchange terms of service and be sure you can transfer funds to your bank account from there.
Once you have an account, locate that account's wallet (your wallet in the exchange) and transfer the Bitcoins you want to sell there. Now don't panic, it will take some time for your funds to appear in the exchange's wallet, since it usually takes 6 confirmations for the funds to be accesible.
Now you have two options, sell the Bitcoins at its actual price (which is immediate) or set your own price (which can take more or less time according to the price you set).
Once you have sold your Bitcoins you have to withraw your real money to your bank account, for that the exchange may need to identify you with ids, telephone bills to match them with your address or the like. Once everything is clear the money will be transfered to your bank and you will have it in a few days depending on the transfer time between banks.
