Topic: a friend wants to invest 100k or more in bitcoin cash via escrow NO SCAMS (Read 1128 times)

There is the Circle APP

There is BTC-e.com that also accept wire transfers.

I mean Even if you get the most trusted escrow of this forum how the hell would you trust som1 with that much money.

CEX can take a bank transfer of that amount without any problems.

Why cez? I'd go for other options myself.

Open an account wit CEX.IO

Yep. I believe there are  certified exchanger out there to do it.

That would probably the best way...why asking here if there are trusted exchanges out there?
And why doing it all at once and not pile by pile?
Screams SCAM to me sorry..

He can deposit his money into btc-e and trade there. I m pretty sure they are trusted

I imagine I would need to use the services of a lawyer/notar to do the transaction through, but to be honest I am yet to find someone who actually has that amount of bitcoin which seems to be more the issue than how to do the transaction.....

It's a really big trade volume. No-one on this forum in my opinion is trustworthy enough, at least alone to take such a transfer in one go.

As someone based in the city in London, I'm interested to know if you do manage to execute this trade successfully and how.

From an AML point of view your friend will have to be careful too... as would any seller.

In my opinion, localbitcoins.com escrow.

LOL at the post above, don't use XMLgold.

You can go with the popular exchangers around like xmlgold.eu. They can provide you that amount.

Hi Danny,

Well I figured, first I would find a person who actually has that amount of bitcoin, then we would work out the method of doing the transaction, after doing due diligence on suggested trusted escrowers on here, and what their background/chances of them doing a runner are, and look at companies IE escrow.com, and see what works for both parties.

No point asking what to feed the horse before you have a horse to feed.

So, what is the rule?

Does it need to be "an extremely trusted escrow on here", or are you expecting to use "a site like escrow.com . . . or a company"?

as said, he has more money than sense haha, hes bought into the whole idea that bitcoin will be worth 1000s sometime in the near future and thinks around the $230 mark is a good buy, I tried to tell him to put it in a property but he wants bitcoin so I'm just going to help him not get scammed as he really is too trusting

Mayne thats a big amount, nearly unbelievable that he's going to invest that big on the first "try". Well all I can say is be careful, even trusted escrows here may be tempted by that big amount, wouldn't want your friend there to become a btc-hater just cause some guy scammed him.

Hi Danny,

That arises a lot of complications; for instance you cannot travel with more than $10,000 into the states- even if you could, most banks will give you an issue withdrawing 200,000 UK pounds in cash, especially if trying to buy 200,000 pounds of dollars.

I think there are sites like escrow.com etc that will escrow for such amounts, its not such a massive amount really all things considered its less than the price of a house and our company has escrowed half a million before for a property sale without any issues, so I am sure someone or a company would be able to do it, if the bitcoins could be proven 100% to be genuine.

It's great that you are requiring the assistance of "an extremely trusted escrow on here".  You may find it very difficult to find such an escrow that is willing to accept such a bank transfer though. If your buyer is willing to travel to the USA for a face-to-face exchange of physical US currency (or equivalent) for the bitcoins instead of requiring the seller to travel to the UK, let me know.  I might be able to put you in contact with an interested seller.

So, against my better judgement a friend of mine is dead set on spunking his money away in bitcoin, try as I might to get him to buy something off me lol.....

so I said well at least if he wants to do it I will help him stop getting scammed he is a bit of an easy target.

He wants to invest about 100-200k UK pounds in bitcoin. 100 THOUSAND to 200 THOUSAND. yes, as I said....mental

he does not do paypal or any of that crap. he has cash, UK bank account.

So if someone has the bitcoin, he is willing to do the transfer.

The rule would be someone would need to be an extremely trusted escrow on here, with the ability to take 100-200k into their escrow account, and then the funds would be released to the buyer and the bitcoin to my friend.

the other option would be the person could do it in person in the UK, come to my friends office and he will do an online bank transfer to someone who has 100-200k of bitcoin; the bitcoin would be put on a stick, then handed to my friend as he does a verifiable online bank transfer to the seller. obviously that removes a degree of anonymity, which might put people off.

Please no scammers offers I am sure they will come anyway like sharks round a juicy fish, but if anyone here has the coin for such a transaction please get in touch, and then if anyone here is an escrow with really high trust please also get in touch and we will talk.