Well, it depends on where you live. For Germans it is not exactly the same method. In fact, the laws and regulations make it a lot harder for German citizens. One of the easier methods is that you basically transfer your BTC to https://www.bitcoin.de and from there you put it into an online bank account like with https://www.fidor.de/. These two sites have a partnership, or contract so using them in tandem makes it a little bit easier. From that bank you can basically pay your bills or do your shopping like with any other bank. The only real differences are that you have lower fees and they do not mind that the money moves from or to a crypto-currency like many other traditional banks. I really envy the Australians for their site https://www.livingroomofsatoshi.com which makes this whole process a lot easier and faster.
You are viewing a single comment's thread from:
Oh, I have a friend in Germany who needs to do this very soon - I had not ever heard that laws in Germany make the process any different. I'm not sure why the situation in Germany is different to elsewhere though, it sounds like you are doing the same thing that I have described above, but using different websites. Do you have a link that I can read to better understand the legislation you are referring to?