Topic: Where do whales trade/withdraw money? - page 2. (Read 260 times)
I think that many of them use OTC trades. It's not that broadcasted at all but being a responsible owner of that much BTC, they've done their research and they know the market where they're going to sell that. Some may be selling a bit from these centralized exchanges but they use them as an actual exchange, withdrawals after withdrawals and not staying their funds there for so long. We have the typical centralized exchanges and the same goes for OTC markets.
2. How do they convert their Bitcoins into fiat? I know that years ago there were some bank transfer deals on this forum, I remember that Bitmain wanted to sell 10 Bitcoin or something like that here and they probably had a deal with a forum member but today when the price is so high, where do these big holders sell their coins and get fiat in their bank account? On traditional exchanges?
What i noticed mostly is that they don't have to alter their main wallet, like they would send few money to an external wallet where they can gradually send some percentage to centralized exchange to trade, sending like 2 to 3 Bitcoin to centralized exchange if they did their kyc from level 1 to 3 or 5 as the kyc level could reached at this point they can easily trade without limitations or anyone to monitor them. For about account to send their fiat after having traded their bitcoin most uses company account to make out payment to bank with this nobody would keep monitoring their account than a personal account.I'm pretty sure that a lot of wealthy people have accounts in traditional exchanges just like any other individual. I also don't think they care about having their accounts locked with that wealth, when they know they can prove "the source of funds", or lawyer up if needed.
Alternatively, I would imagine that some of them also use OTC desks:
Some exchanges like Kraken, do offer that type of service as well.
You are correct they don't care about if their account get lockup or not but truth but told, rich people don't afraid knowing too well that they have the available funds to take up whatever cases that comes up, and putting that they have lawyers backing them up to protect their wealth provided that their control doesn't prohibited bitcoin trading or usage.Alternatively, I would imagine that some of them also use OTC desks:
Some exchanges like Kraken, do offer that type of service as well.
Aside the OTC, crypto exchanges there are also private wealth managers , family offices, or institutional trading firms that the whales approach to liquated their some of their huge assets.These people usually know someone that knows some that can do the trade for them. Like they know other wealthy people who would not mind doing the trade directly with them. Ofcourse there would be like a trusted middle person that facilitates this.
Don't you think there must be an agreement between them before this could be possible?Most times it's very hard to entrust people with money and in my opinion when something like this comes up there must be a written contract that binds between these people to avoid misappropriation of funds.
I also saw this news and even shared it with my brothers as just to create a curiosity in them about BTC and how people made money from it. Well, talking about how these people would be withdrawing all those funds without getting their accounts banned. There could be many ways, like usage of DEXs but DEXs don't have such huge liquidity so they might have to trade in batches. Besides batches, these whales might prefer to do OTC trading or P2P trading as with bigger whales. And to convert the USDT into FIAT they might have to contact some big brokerage or OTC can do the work here.
Not a professional but other than this, CEXs can also do the world as the amount that he shifted is around 43 million dollars. Well, different accounts on different tier 1 exchanges can do the work. But it will take time and lot of time. OTC trading is not so easy but I think crypto.com provides it, and there might be other CEXs too which are providing this service so not a big problem.
Not a professional but other than this, CEXs can also do the world as the amount that he shifted is around 43 million dollars. Well, different accounts on different tier 1 exchanges can do the work. But it will take time and lot of time. OTC trading is not so easy but I think crypto.com provides it, and there might be other CEXs too which are providing this service so not a big problem.
My questions are the following:
1. So where do they trade?
1. So where do they trade?
Aside the OTC, crypto exchanges there are also private wealth managers , family offices, or institutional trading firms that the whales approach to liquated their some of their huge assets.These people usually know someone that knows some that can do the trade for them. Like they know other wealthy people who would not mind doing the trade directly with them. Ofcourse there would be like a trusted middle person that facilitates this.
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2. How do they convert their Bitcoins into fiat? I know that years ago there were some bank transfer deals on this forum, I remember that Bitmain wanted to sell 10 Bitcoin or something like that here and they probably had a deal with a forum member but today when the price is so high, where do these big holders sell their coins and get fiat in their bank account? On traditional exchanges?
I like to think here that some institutional investors like BlackRock, Mircostrategy and the others are involved in buying significant amounts of bitcoin from whales. This is only how I think they can do it with security agency looking their way.a 
That is an interesting article which is different than usual articles on cointetegraph (with low quality), I like it. Even this is not new, the writer of this article actually did spent time to get information and made informative charts for readers.
You can get information on inactive UTXOs and make your own estimates.
You can get information on inactive UTXOs and make your own estimates.
Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
We don't know how many bitcoins actually lost, forever, but we know one thing, there is donation to us by people who lost bitcoins! 
I'm pretty sure that a lot of wealthy people have accounts in traditional exchanges just like any other individual. I also don't think they care about having their accounts locked with that wealth, when they know they can prove "the source of funds", or lawyer up if needed.
Alternatively, I would imagine that some of them also use OTC desks:
https://www.bitcoin.com/otc/#:~:text=Bitcoin%20OTC%20trading%20involves%20the,counterparties%20for%20large%2Dvolume%20trades.
Some exchanges like Kraken, do offer that type of service as well.
Alternatively, I would imagine that some of them also use OTC desks:
https://www.bitcoin.com/otc/#:~:text=Bitcoin%20OTC%20trading%20involves%20the,counterparties%20for%20large%2Dvolume%20trades.
Some exchanges like Kraken, do offer that type of service as well.
I probably shouldn't be asking this question because I am an old member of this forum but this recent article on Cointelegraph quickly inspired me to ask this question here today. Satoshi-era dormant Bitcoin address wakes up after 10 years.
My questions are the following:
1. People who own hundreds and thousands of Bitcoins, where do they trade? It's risky to deposit such a high amount of coins on platforms like Binance and Coinbase because you aren't guaranteed that they won't block your account, even immediately after you deposit them. So where do they trade?
2. How do they convert their Bitcoins into fiat? I know that years ago there were some bank transfer deals on this forum, I remember that Bitmain wanted to sell 10 Bitcoin or something like that here and they probably had a deal with a forum member but today when the price is so high, where do these big holders sell their coins and get fiat in their bank account? On traditional exchanges?
My questions are the following:
1. People who own hundreds and thousands of Bitcoins, where do they trade? It's risky to deposit such a high amount of coins on platforms like Binance and Coinbase because you aren't guaranteed that they won't block your account, even immediately after you deposit them. So where do they trade?
2. How do they convert their Bitcoins into fiat? I know that years ago there were some bank transfer deals on this forum, I remember that Bitmain wanted to sell 10 Bitcoin or something like that here and they probably had a deal with a forum member but today when the price is so high, where do these big holders sell their coins and get fiat in their bank account? On traditional exchanges?
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