Ether to Paypal account?

[another random person]

So, mining is going rather well, I've made a net profit of over 5 USD so far with less than 3 days of mining. I was wondering when I get my payout in several days time, is it possible to exchange ether straight into local currency and into a bank account or PayPal account.

 

Or do I have to go through some weird method?

 

Any help is appreciated, thanks in advance.

[jwacher]

You need to use an exchange like Kraken or bitfinex. You can then trade your coins for other coins or fiat currency such as USD. I am not sure about paypal though.

[2bitmarksman]

On 6/12/2017 at 4:15 AM, another random person said:

So, mining is going rather well, I've made a net profit of over 5 USD so far with less than 3 days of mining. I was wondering when I get my payout in several days time, is it possible to exchange ether straight into local currency and into a bank account or PayPal account.

 

Or do I have to go through some weird method?

 

Any help is appreciated, thanks in advance.

You would need to create an account on something like Coinbase, Kraken, or some other exchange to will exchange ETH to USD or you would need to exchange ETH to BTC and then BTC to USD (or whatever your local currency is). Just know that each transaction there will be a fee associated with it, no matter who you use.

I know Coinbase will allow you to cash out either BTC, ETH or LTC to USD through Paypal. Haven't checked out Kraken yet (going to now though :P)

EDIT: From what I can see Kraken favors the EU region for converting BTC/ETH to USD. Use it if you are in the EU but avoid it if you are US (fee is pretty steep)