Convert back from BTC into a local currency, efficiently

I receive rent income in the US. I'm using coinbase.com to convert from USD into BTC, with no problems.

I will be traveling outside the US, so I would like to convert back from BTC into a local currency. (I'm going to Ecuador; there are several exchanges but they seem set up for people to buy BTC.)

What I want is to convert from BTC into the local currency. What is the most efficient way to do this? (I may need to do this several times, which is why I'm interested in doing this efficiently.)

How should I set it up?

user21078

Posted 2014-11-14T05:33:40.640

Reputation: 21

4I leave this as a comment as it perhaps dodges the question about converting from Bitcoin to arbitrary national currencies: USD is in fact the official currency of Ecuador, so there is no need to convert to anything else. – Ian – 2014-11-14T13:43:47.620

Ian, I think you missed my point: whether Im in Ecuador, which yes uses USD or another country, my question still remains: how to convert from btc into the local currency wherever I happen to be. I may be in coutries where not many merchants accept btc. – user21078 – 2014-11-14T21:32:04.697

user21078, if I had missed your point I would have given an answer rather than a comment. Note I explicitly pointed out that I was not answering the broader question of converting Bitcoin to other national currencies. – Ian – 2014-11-19T01:44:08.723

Answers

How about localbitcoins.com? 231 countries support, can meet people face to face from this website in country where you go and exchange your bitcoins for cash in local fiat currency.

Arsenius

Posted 2014-11-14T05:33:40.640

Reputation: 219

Thanks; I had thought of this also - ideally I'd lie something that is equivalent to coinbase in the uS, only in this case it would link the wallet to a local bank - I'll keep looking. I say this because I may need to do this often, but I will look, thanks! – user21078 – 2014-11-20T05:21:42.583

I think you might find what you are looking for at Xapo

They offer a VISA debit card that lets you pay normally in the local currency. If I understood correclty they pay and then debit the corresponding amount in BTC from your wallet (your Xapo-wallet, though).

This is what I have found out about their service: At registration they ask for personal information, address, ID number and a valid mobilenumber. You have to confirm your telephone number before being able to transfer bitcoins. They send you a SMS with a verification code.
Also, before you can use the card, you have to confirm or validate your Xapo-account via a moneytransfer to an bankaccount of theirs. After that you can use the debit card to buy stuff.
The card has a monthly fee of about EUR3,95 imposed by VISA. Xapo pays this back if you get charged. They say their service has no monthly fee.

I have no affiliation with them! AND I'm not at all well versed in things bitcoin, so please take time to investigate this.
I have opened an account at xapo but cannot validate my account with an international moneytransfer, so I have not been able to test anything related to the debit card.

leugim

Posted 2014-11-14T05:33:40.640

Reputation: 101

Thanks very much- like you said, I am still doing due diligence, thanks for making me aware of this. – user21078 – 2014-11-20T05:17:26.703