In our previous post, we investigated two ways to turn Bitcoin into US dollars. Both methods we looked at, including CoinBase and person to person, took some time to complete the transaction and walk away with cash in hand. Meeting someone in person was faster since CoinBase has a withdraw delay.
Another interesting option in MoneyPak. These are like "money top-up cards". You can purchase them for cash and then load the money onto PayPal, iTunes, or a pre-paid credit card.
LocalBitcoins.com lists many suppliers who will trade a MoneyPak for BitCoin. After a quick search, it is very easy to find people who have already purchased MoneyPaks in varying denominations. Five minutes after making a trade request on LocalBitcoins, a magic MoneyPak and US Zipcode were given to me through LocalBitcoin's website. Using the reload feature of MoneyPak's website took another thirty seconds. After confirming the value and loading the money on to an American Express Serve card, we released the BitCoins to the buyer.
All in all, amazingly easy and fast! BitCoin into spendable US dollars in five and a half minutes. On a Sunday. Neat!