Topic: Best country to cash out few mil of USD crypto? (Read 631 times)

Nigeria has emerged as a cryptocurrency hub in recent years, but its level of investment still pales in comparison to that of the USA, China, and other major players. It was recently revealed that financial personnels and politicians are the primary stakeholders in Nigeria's cryptocurrency market, prompting government scrutiny. For Bitcoin holders, diversification offers a different approach but is generally riskier and yields lower returns compared to Bitcoin.

I've never been there, but it's only natural that these countries have a greater reach and regulation of usdt /usd crypto due to its nature in reference to the USA $ currency. Especially from the governance and needs that occur in other countries (London, El Salvador and other crypto-supportive countries) usdt is so useful which is decentralised. I think crypto is real money that needs verification in a country because of the thoroughness of the inflow and outflow of money in a country, it is natural to need manual validation from the government. As long as the money is personal property and wealth that is not mixed from suspected sources even though P2p transactions in public are okay, although p2p cex by meeting directly (face to face) but the anonymity of some people wants their identity to remain hidden, the blockchain world brings convenience including usd crypto.

I saw some people suggesting to go to England or Dubai because that place can allow us to cash out large amounts of money without any problem . But I doubt it , I don't believe any country can be negligent in controlling its people's finances , especially when large amounts of money are involved.

I think there is no country where we can withdraw millions of dollars without being monitored or questioned . So don't waste time going there and get into bigger trouble , I think withdrawing slowly is the best solution we have . Another solution is that we can own many different bank accounts and use them alternately, this will also help us not be suspected too much like when we only use one bank.

There can be any number of reasons why someone wants to cash out a few million dollars from crypto, maybe someone wants to buy something or to diversify his investments... whatever it is everyone has the right to do whatever they want with their money.

When it comes to millions of dollars, I wouldn't think much at all, I would go straight to an agency (or a lawyer) and let them do most of the work. Why bother with all the laws and regulations, sometimes it's better to pay some amount and be totally safe than risking to get into some serious problems.

Sure, keep on driving without a license. It's going to work out for you until you get in an accident.
Do you know what will happen then? Your car insurance won't work, they will refuse to cover any repairs because the car was driven by someone who wasn't supposed to be driving.
The police will give you a hefty fine for driving without a license and being involved in an accident and then if you damage another property, like someone's car you'll have to fix it out of your own pocket.
Good luck


If you're in Europe, I'd say Germany because there's no tax there and exchanging bitcoin is completely legal. You could also try Portugal.

There is no any bank in any country that you will visit to cashout a million dollar without a red flag coming to that account unless you were using that account already in transacting amounts bigger than what's is coming else they will put a tag in that account and report it to economic financial crimes like FBI and the rest. Even though the country doesn't ask for task, it is going to be difficult to spend a million dollars worth of crypto without raising any suspicion.

I will say it's better to keep the money in crypto and buy things where crypto are been acceptable. You can exchange it to gold in a country where tax aren't considered for crypto and then you can move your assets to where ever you want but I'm not sure if it will allow for US, heavy tax will be coming from your gold and receipt of purchase, so I will say countries like Dubai are the best. This my advice is looking like money laundering already, don't take my words, everything I posted are pure educational.

Many investors store USDT in a wallet to be converted to a bank account, this is because the withdrawal costs are higher and they avoid the balance of balances in the account controlled by the bank, some of them avoid high taxes from the regulations of each country. But they have a P2P option if they want to avoid high withdrawal costs from trusted exchange services, even though the number of attractions is limited, but they can use several different P2P exchanges to increase the amount of withdrawal of funds to a bank account if needed.

Though I have no millions, I think this is the way to go. Not withdrawing in millions because it's just noticeable. All banks today are aware of people avoiding taxes, they even limit the cashing out from ATMs.

When you try to withdraw cash like $50k in any bank today, they will look at your background and ask questions about whether the money is for ransom or whether are you in danger. But in reality, they are already looking at whether you are into something. If you are not some big shots, just avoid it.

I was also thinking Africa because the charges and taxes and very low. Most African countries have no taxes on cryptocurrency. This makes African countries the best place to cashout proceeds from cryptocurrency. Besides, Africa is like an untapped goldmine with so many feasible sectors yearning for investment. From Agriculture to oil and gas, the opportunities are just endless. Cashing out cryptocurrency and investing same in Africa might be a very great decision. Even if it is to cash out and enjoy, Africa have so many nice places to enjoy money, enjoy nature and enjoy life in general.

It's interesting to see people discussing how to cash out large amounts of money from crypto investments, which means there will be a lot of crypto millionaires born from this forum.

Personally, I think, if we own a bunch of crypto assets worth millions of dollars, why should we convert them all to fiat and withdraw them ? Why don't we keep them in bitcoin and store them in a non-custodial wallet and cash out only the exact amount we need for our outside plans? No matter what country we are in, if we suddenly withdraw a large amount of money, sooner or later we will be noticed and suspected by banks and the government . So don't try to do anything to attract their attention , instead withdraw money slowly to avoid being tracked.

Well, on the one hand there are the paranoid and on the other hand there are those of us who have been using bitcoin ATMs for years without any problem.


No, I am trusting the law: 

Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (Text with EEA relevance)

It requires companies to delete the recordings within a month at most, and if they were to use them later they could not be admitted in court because they would be null and void. And the company that does what you say could face fines of up to €40,000 if it is a minor infringement, and up to €300,000 if it is a serious one. So you go on with your paranoia and I will continue to use bitcoin ATMs.

As they say, it’s good where we are not. Some people tell stories, while others spread them. It is a pity that because of this it is very difficult to find suitable information for yourself to take into account regarding cashing out funds. Is it possible to use a European bank online if national banks have problems even with P2P.

"Many people drive there without driving licence" - no, they don't. I have no idea where you get your information from but it's consistently wrong and makes you look quite foolish. The UK has fairly robust anti money laundering laws, comparable in standards to the US or rest of Europe. You might get lucky and be able to evade detection on the first hundred thousand, but eventually you'll start throwing up red flags in the system and the relevant government agencies will start investigating you. If you are able to get it converted, then it's probably easier to flow around the rest of the world, as I would be more suspicious of restrictions that Dubai banks my put on individuals and their ability to move money once it's been converted. The answer is likely to be changing every year.

They probably just respond positively to crypto because they are being paid and being updated. If you want to be discreet about your crypto withdrawal, most governments will be alarmed. It’s just a matter of will they accept crypto as a source of your money? I think if you comply to their laws then they will definitely react positively to you.

A few of the crypto millionaires I know have moved to Dubai for a safer environment to use crypto, cashout it, invest in business and real estate. Dubai has one of the lowest tax and very chill regulations that makes it an ideal place to live with crypto and if you are willing to stay a bit away from city center, Dubai is not as expensive place as many people believe. Dubai itself is a Emirate/country within the UAE and has its own laws. Other emirates are also trying to copy Dubai to bring more expats.
Crypto people also move to bangkok as crypto is widely accepted there and the place provides more fun for less money.

My country seems neutral on this subject because as long as they saw your account has an active and large transaction seems they didnt care too much but if you are just a newly created account with their platform with no KYC possible your account will now get tagged. In my country, we are using a third-party application which is regulated with the banks that are supported USDT but the transaction fees are too high depending on the amount you deposited which is quite painful in our side too.

UK good for cashout of $ from crypto? Even my country which belong to a 3rd world country is still so strict when it comes to a huge money entering on bank account without any supporting documents to prove the amount.

I’m uncertain how UK banking system works on screening fiat transfers on their customers bank account but I doubt they are really that free especially that the amount is 1M$ from crypto transaction.

You should at least provide a source of income such as business or work to justify this transfer.

For sure they would think that there's illegal activities happening and provably there would be an counteraction happened especially banks are fully aware about those possible money laundering schemes transactions. And to avoid getting flagged much better if they don't do a one time big transaction. Much better separate it on many accounts so that he can successfully pull out those huge funds and enjoy it in real life. For sure there are people especially our sibling and relatives can help us regarding on this matter since we can use their bank accounts or anything they can participate. Also much better if they avoid doing those huge transaction outside of the country since maybe they will get an issue there. Just stay on their country since there's lots of ways they can cash out their funds.

I think that's the perfect country to cash out your money as it would be really easy for you to do so. If you'll go into the other countries of Europe you'll get some difficulties and backslashes while taking your money out but in the past few years I've seen the UK has responded very positively to the crypto currencies.

So they'll make it easier for you to take the money out at a good fees and in limited time also without many complications.

Am not aware that it is a crypto friendly country, if it is as you have said it and just as OP too, then it is a good advantage for their citizens who are fully into cryptocurrency. Some people are in a country where crypto is highly regulated or even ban by the government.

Dude, you're borderline asking us to launder money OP, there's no way that you'd be asking for the best place to cash out millions of dollars if you won't be evading taxes. In good conscience I don't think it's right for me to do something like recommending you a place. I hope that you're not really laundering though and that you just want to make sure that you're getting the most out of all your money.
There are countries out there that would not bat an eye or turn a blind eye if you pay them handsomely, there's a reason why shell companies exist in a lot of those tax free countries.

As long as we use bitcoin in public places, our privacy will definitely be threatened, and especially bitcoin ATMs, I agree with you on that. Maybe they won't force us to do KYC before trading, but they most likely have installed tracking devices around under the pretext of ensuring security for ATMs, but that will invade our privacy. 

In general, any solution will have certain risks and we should improvise depending on the situation and choose the method that we feel is safest. Personally, I'm also looking for a way to cash out without being noticed by the government, and I'm also thinking about transacting directly with some people I trust instead of using ATMs or using P2P on exchanges.

I am pretty sure that anywhere here in the world, whatever country you go to they will be alarmed to see you cashing out millions of dollars from nowhere. Especially if you are only a foreigner. I am not sure about the level of friendliness offered by Monaco to cryptocurrency but there’s no income tax in Monaco so maybe that is where it’s safe to do so.

All these dodgy ATM companies may claim that they don't require KYC but using a bitcoin ATM implies a lack of privacy where you are basically being kyc'd indirectly if not directly but undisclosed. You are trusting some proprietary software inside the machine to begin with, then you are being recorded by the company which may or not may keep records for an unknown amount of time irrespective of what is advertised. There is also the problem of cameras everywhere which allows for profiling of bitcoin users.

Any spot that is advertised as a bitcoin exchange spot is poor opsec by those that visit it. The only way to get cash safely is that you know someone you can trust and exchange it in person. This also has the risk that the person you trust now betrays you eventualy or is compromised and finds you as a bitcoin trading contact. There's always risks implied here.

In my opinion, america is probably where you shouldn’t be using crypto as they have implemented stick regulations and tax laws. In europe, I am not that familiar but I have not heard anything that is drastic in their countries.

Meanwhile in Asia. It’s like the other end of the spectrum. Some countries totally are against bitcoin while some are just neutral and some fully accept and support bitcoin in theirs. Just look for those countries.

In Spain there are non-kyc bitcoin atms that allow you to cash out up to €1,000 per day. They used to have the option of cashing out up to €10,000 per day for non spanish residents but I don't know wether that has changed. So if you go on holiday you can take advantage of this opportunity to cash out some.

There once existed a thread that discussed about having some of the big ballers on the forum and am referring to The Sceptical Chymist in this regard, having affiliation with a mixer that paid good money to maybe, pick out a country where they can live like kings with what they earned from the mixer and possibly some investments of theirs.
I see this thread to be some worth related and I don’t think you would do very well in any nation that pays taxe. Obviously, you wouldn’t have the opportunity to lavish your money in the ways that you would want to in nations that don’t.
Like there are certain race cars you just can’t drive due to the bad road. You might be confined to trucks and land rovers.

Else, Africa might be the place for you. Just adjust to the weather condition, be cool with the people and you would do okay. Besides, it’s got market for investments of all kind.

Before you decide to go on holiday or live in a country, you must first find out about the rules from the smallest to the heaviest in that country, lest you want to spend millions of dollars in crypto but end up not being able to because of regulations or the laws regarding tax or finance in that country must all be taken into consideration and in my opinion European countries have good regulations regarding crypto.

Such list would be great to have if it included a column that said how strict they are with source of funds. Just because a country has very low taxes doesn't mean is the best. Example, you show up with signature campaign gains from years ago, but you lack some data, it's easy to prove those things. Perhaps you got paid in a casino website that no longer exists, and now you cannot prove this, etc. A country that will give you solutions and will let you use your money would be the most interest part, rather than if you are paying this or that amount.

Does anyone have any experience leading with European countries and their private banking sector when it comes to this? There's a ton of money with a ton of legal earned people that wants to cash out some BTC and diversify on real state and so on but since it's so difficult there's no point in cashing out (and thus they miss on getting any taxes from that, the problem is you can't do anything with that BTC so it's all a waste of money for no reason)

El Salvador is a best and cryoto Friday country specially Bitcoin friendly. There are over 200 Bitcoin ATMs in this country. And tuition fees are also accepted there through Bitcoin. And they use bitcoin as a local currency just like fiat money. So I think you can cash out bitcoins faster and easier in this country than in any other country. Bitcoin is legalized in many countries around the world, but services like El Salvador are not available in other countries with Bitcoin.

I think you should look for crypto friend countries and we I think someone already posted what country it is. And it seems that you are looking for EU based as you probably live there. But in any case that you are not, I will say look for Asian countries as well, specially South East Asian countries.

But the lessons here is that at least you know someone from countries that you are going to exchange a few mil of your USD in crypto.

We are talking big money here so you don't want to be scam or get some issues along the way. If you have someone that you know, you will be confident to make that transactions.

I think that if we're discussing about best crypto friendly countries, that El Salvador, will be in the forefront, because I believe that they're the only country that has officially adopted Bitcoin, as a legal tender. Other countries and cities that are crypto friendly where you can conveniently cash out a huge amount of Bitcoin, will come second to a country that has full adoption of the cryptocurrency. Ofcourse the holder has to meet the legal requirements of the country to cash out the many Bitcoin.

I hope that my country Nigeria, will be more crypto friendly and allow it's banks to facilitate crypto transactions, because we have a lot of  Bitcoin holders in the country.

I also have heard that El Salvador is one of the most cryptocurrency friendly country in the world. I can see posts here on the forum and on the internet talking about how convenient it is to transact crypto in this particular country. Unfortunately for us here in my country we've been taxed and regulated by central banks though still be able to transact thousands of dollars worth of crypto through remittances and banks but we'll make sure transactions were clean and not sketchy or suspicious or else your funds will be freezed. 😁

Difficult for OP looking for other country withdrawing his cryptocurrency fund, if want withdraw trough other local currency exchange market he need document ID required before withdrawing fund on all exchange local currency. Seems for OP need use third party or looking with some one come from the same country and sell to them trough P2P on Binance exchange. Looking for information detail for all countries seems can't help yet because transaction on local other exchange market need submit KYC and I don't think any foreigner available for verifying their document with other country from.

May I know how much taxes have to pay by OP when withdrawing cryptocurrency fund to be fiat or cash money in your country? are there above 1% or under 1% all of your assets?

For them no amount of money makes it worth it to deal with all the regulations put in place by the US government, it is because of this there are several wealthy people out there that not only are leaving the US, they are also renouncing their citizenship so they can get access to those services.

However at the end we must never forget that even if holding bitcoin offers some level of privacy, once you want to move some of that wealth to fiat you must not expect to retain any privacy at all.

I saw a video on TikTok, where an American guy complained he was refused an account by most of the Swiss banks (big ones Credit Suisse etc). The reason is simple: because he is American. They were very nice and all but once they found out he was American, they said sorry we don't want your business. I guess most exchanges, banks etc are afraid to do business with American citizens, because of possible penalties, sanctions etc. The biggest weapon in this war is dollar. Losing access to USD transactions is a nightmare to most.

The most important part is the no questions asked part. In this sense, you asked about Spain, and I wouldn't recommend that, beside the taxes which will be around 30% + the wealth in most of the country, you are going to be asked all sort of questions.

Alot of people think because a country has lower taxes, it will not ask about things. For instance, Andorra is often cited as a tax haven for people that want to live near the mediterranean, but after the 00's, they ask all sort of questions, there is no bank privacy anymore, they will ask as much as your average EU country.

Im not sure how Switzerland works these days. Back then, if you were VIP client, they would give you a pass and bank your money, nowadays, it's probably harder, they will ask about things, to what extent im not sure.

So it sucks but you may be forced to go to some dodgy place like Dubai, where supposedly, you aren't asked much, but I've heard they are starting to make that difficult as well.

You will also need some sort of income or be forced to do some investment within the country in order to achieve passive tax residence. Some people think it's as easy as hoping in the country and that's it. This may be the case only for super wealthy clients but not for a few $million.

These countries so mentioned, that is El Salvador and CAR accept BTC or cryptocurrency as legal tender and I think they may not have as much stricter regulatory policies like England wherein it is SEC regulated and taxed and the law guiding the use of cryptocurrency can be reversed anytime.
I agree that England ranks among the best countries currently using cryptocurrencies, although it has lesser users as compared to the U.S., I don't think the government pokes their nose into transactions and payments made using crypto, as much as the U.S., which is trying to control and claim to avert terror confirmed from completed transactions.

When you consider moving, you have to also think about the difficulty of getting citizenship. When you visit another country, you still remain a citizen of the country you used to live and work in and that country will lay claim to all your profit. You can't move somewhere, cash out and return to your country like nothing with all the money. You need to legally move to another jurisdiction before you sell your bitcoin and some countries listed as crypto friendly make it very hard for people to do. For example, you can't easily get a citizenship in Switzerland. It takes years before they allow it.
Probably the easiest country to get to as a bitcoiner is El Salvador, but let's face it, it's a poor country and you may find it hard to accommodate. For an EU citizen I'd recommend Germany as it's very simple to migrate between EU states and you get 0% tax. If you're Hispanic, try El Salvador. It would be my second choice. Argentina is most likely going to become bitcoin friendly in a year or two.

If you live in the US consider moving to Canada. In the US capital gains tax is 37% and in Canada 33%. Also, in Canada you can exclude 50% of your capital gains as long as it's below a certain amount (at least $250k), so if you have a million to exchange, in the US you'll pay  37% out of a million, so $370k, but in Canada you'll pay 33% out of 750k and get 250k tax free, so only $247k in tax. You'll have to decide if that 123k is worth the trip for you. For me it would be.

I think that in Asia there is less control than in the US and Europe. Usually they choose countries like Singapore, where there are already cryptocurrency laws and blockchain projects are developing well. And the banking system in this country is also very good for such purposes.

Imo, it does not depend on the country but on whether the service you are using can help you liquidate that amount of money. In the p2p crypto field that I know of, there are even individuals trading tens of millions $ is easy, but that doesn't mean it's without risks. As long as it's a partner you trust to trade with to help you liquidate crypto in the most convenient way, I've traveled to many countries in Asia, and interestingly, through some relationships, I can easily pay crypto for local fiat.

But I also agree that countries with leading economies have a more positive view of crypto, as most can accept transactions and have bank cooperation with a number of major services for convenience.

Best alternative ways cash out cryptocurrency assets trough P2P transaction but seems OP want to cash out trough Bank and country with less taxes fees, actually in my country have lower fees taxes of cryptocurrency transaction but I don't think have policy for foreigner allowed withdraw their cryptocurrency with my local exchange market. Friendly for OP looking for country with legal tender payment using cryptocurrency and cash out his fund there with less taxes fees. Seems for P2P transaction we make its trough our local community and there are selling or buying fund with other user come from the same country. Huge amount with P2P transaction will face difficult and cash out trough Bank I think best way looking for by OP.

Just go to the countries that are crypto friendly and you'll have no problem about it if you're scared of the policies.

El Salvador and Central African Republic made it as a legal tender but my choice might be El Salvador. Luckily, I am in a country where things are fine and not making crypto on a hot topic.

Wait, this is a few mil like $500k? I'd avoid doing that in a single withdrawal.

I think you will not find an answer because you need to know someone that live in the country and very well know the system, tax, laws etc, not just relying on article or what you found on google. So, you need to break down to few countries that you think can meet your criteria and then you need to pay some fees to obtain the information from the local citizen.

I don't think the best country to cash out 1 Million without getting asked is UK or the USA, especially the driving license statement seems a little fake because driving licenses are checked and drivers have to follow all driving signs otherwise big penalties are imposed on them. Many locals of my country have showed their views about how expensive those tickets are to pay. They say one ticket eats up enough money that is equal to one month's expenses of one guy back in Pakistan.

Which is around 100 pounds. Things are not cheap in both countries. And therefore I don't think they will ask you about cashing out 1 million of us dollars from crypto because for bigger countries have bigger banks and they can easily handle a few million dollars.
Now there remains only one question that, and the solution to that is the country should be crypto friendly otherwise they might block your bank accounts.

I agree with the legality concerns of money. It matters a lot. If the amount is in millions then one can not assume they would just go to the center, and get their millions cashed out just like that. If you check out any banking system then the source of funding is always reported to central authorities against the SSN or whatever is the KYC document that is linked to the user's identity. This tells the Income Tax department whether to take any action against that transaction or if they see enough documentation for the same then they wouldn't even doubt us. I think El Salvador is the best shot for such heavy transactions.

If it is all about traveling then it's better to do the job in your hometown. You wouldn't be asked more questions in your local region rather than flying to another country and getting bombarded with a lot of questions. If your country accepts bitcoin but it is taxed, then it is even better. Just pay the taxes and live a happy life. 

If you are going to withdraw that much money I am sorry to say to you that there is not really a country that will fit your criteria, as if you do not have a history of managing those amounts of money, it is perfectly normal for a bank to ask you where you got that money, after all even if that is your money your are using the services of the bank and if you are doing something wrong then they are going to be implicated.

So just accept that you will have to give explanations over that money and pay your taxes as well.

To your first question, there are alot of Billionaires in Nigeria without security, and they are doing very well, alot of very rich foreigners are living and working in various places and companies here in nigeria, live on exotic places and drive exotic cars, all this without any security guard going up and down with them.
What I will tell you is that, apart from economic problems and insecurity in some areas caused by economic hardship, Nigeria is still one of the safest country to live in, all you just gotta do is live a low key life, since yoh have the money, find a luxury and very quiet estate and live there like you dont exist, and you will be good, most rich men in Nigeria don't make noise  .

And to your second question, I think you are misunderstanding what I meant, by cashing out, I do not mean to withdraw all your money from the bank, I meant to withdraw money from crypto into your bank account.
And who said the banks will force a customer to keep his or her funds in their local bank account? I never said such, if you withdraw let's say, hundreds of millions of naira into your local bank account, and the bank said or did nothing, you are free to withdraw your money from the bank anytime and do with it what ever pleases you.

What about safety? If a foreigner arrives to Nigeria and cashes out decent amount what are his chances of staying alive (if he won't bring his own private army with him)? Then, you mentioned that banks may start asking questions if you start to cash out big amounts. So it means you will be forced to keep your funds in your account in a local bank? How safe is that? Are bank accounts secured/guaranteed by the state? 

My country is not a cryptocurrency-friendly place, but citizens here usually cash out their coins more easily through P2P trade, and it has always been going very smoothly. For other countries that are not cryptocurrency-friendly, they could still use the p2p format on the exchange that is allowed in their country. Binance, Huabo, and MEXC have a p2p feature, and they can be used by anyone as long as the exchange is allowed in that country.

Come to Nigeria and cash out your millions of dollars in crypto without questions ask, but then, you may likely not want to cash out every thing at once to avoid being invited by the bank to state what you do for a living, this is probably nothing, but just to be on the safe side, it's better to avoid anything that will warrant you having to face the banks to answer some silly questions.

And I think as an international investor you are or will be, that's another good advantage, authorities in Nigeria seems to respect international investors much more than their own citizens, an international investor may cash out millions here in nigeria and the authorities will say nothing, or do nothing about it, probably because they assume that as an international person that you are, you must have business in your country paying you good amount, but for a Nigerian citizen, authorities will or may invite you and will want to know how you came about such amount of money (if it's really big).

It is probably El Salvador or Singapore. I know Singapore has very business friendly policies. Please check the immigration rule to find out how much money you can take out from Singapore. It is the world's costliest country so the amount should be higher than anywhere else. There are multiple crypto exchanges operating from that country so it will be great if you can get some contacts over there and possibly ask for a better pricing than the market one. You can also think of Dubai because registeredding a business in Dubai is very easy and it takes less than a week. You would need such credentials before you can bring millions of dollars in your own country. There are multiple ways but it will be best if you can have someone providing you legal assistance.

I agree about Dubai because they don't have strict taxation policy but how about Portugal, Australia which I believe they belong to developed countries and already have strict policies on taxation. I am unsure about Malta but maybe not big different than Portugal and Australia.

I don't think it is coincidence why many Bitcoin billionaires left their home-land nations and live in Dubai. They came here not simply to enjoy their rich life but also with some more friendly policies on taxation.

Dubai and Middle East are also a hub, paradise of cryptocurrency companies and blockchain events too.

The World’s Biggest Private Tax Havens

Any country that considers Bitcoin a legal currency, has low taxes, a stable local currency price, and through which you can convert this currency into dollars and send it to your bank account, or living in that country is considered an ideal place.
Taking these factors, we will exclude many countries such as El Salvador, Germany, Monaco, Bermuda. The available options will be Dubai, Portugal, Malta, Australia. Then you need to search for each country and choose the best suitable for you, which may not be suitable for everyone.

Someone who wants to cash out crypto worth several million can do so in countries that are friendly to crypto trading, and that could be the UK, US, Malta, or the Cayman Islands. Each country may have different regulations regarding crypto trading and individuals must comply with the regulations that apply there. However, if we talk about taxes, maybe Malta or the Cayman Islands could be the best place to cash out crypto with lower taxes and more guaranteed privacy compared to other crypto friendly countries.

What kind of development are you referring to? How would it impact crypto users who make a ton of money from trading etc? Is tax not a problem at all? I never cashed out that much money, but I'd argue that cashing out regularly for a small amount is probably better regardless of where you are, unless you are obligated to pay tax for how much crypto you own. In my country, for example, my crypto is taxed after I make trades or liquidate it to fiat, so cashing a million dollars in one go is going to be a headache. CMIIW.

By cashing out you mean settling down to live in that country? A few million dollars doesn't really sound like a lot with the current costs of living in Western countries. I would look into Eastern Europe and a great compromise between costs of living and comfort/security/development. So countries like Poland, Czechia, Slovakia, Baltic countries. I don't think you need to look specifically for a "crypto-friendly" country if you plan to cash out your coins - all you need is one bank that won't have problem with a large deposit coming from a crypto exchange.

In last few years we are having good changes in Gulf region which are bringing soft policies for the common peoples just because of this now for starting business and having cash-out of crypto related things are really working here like Dubai and Qatar are best places with security is also never been issue here.
We are going to have more development in coming years which will increase use of crypto, and also we will be able to have more improved policies for the crypto users in these countries so for me doing this all in Europe or USA is not ideal, but these are surely the best countries where you can do cashout and other stuffs.

Just cause they are crypto friendly doesn't mean the tax department's not going to be on their asses. They may not bat an eye while it's still crypto but soon as you start converting them in legal tender they'd be hot on your tail, as in the case with a couple personalities in the past.

El Salvador doesn't seem that great either as the country to cash your crypto earnings, for the most part, yes, they have crypto access that allows you to use your crypto willy-nilly but at the same time, i don't think they have the financial capability to actually support a thousand whales cashing out their money on the daily, and not spending it in the country's internal economy mind you.

Look elsewhere, the money's gotta be kept still after you convert it into crypto Switzerland is a good choice, French I've heard great things about. Philippines should be a good country too because of less strict laws and a pretty indifferent outlook at crypto.

I think you need to watch out as in some (most cases) the place where you cash out doesn't matter. It's your tax residency that matters. In some cases (like with US citizens if I'm not mistaken) the only way to get rid of it is to surrender your passport and become a citizen of another country. Although in some cases even this is not possible.

Dubai might be a better place and a safer place to cash out and I’m sure you can do P2P there because more people are already into cryptocurrency and its legal there. As long as your fund is came from a good source and not being laundered you can just easily cash out that money. I wish to have this kind of problem as well but for now I have to do my best to at least own 1BTC.

I disagree with you on this. UK is the country you can earn more but the expenses are high as well. If you earn high and spend high then what is the importance of earning of high when it will all go into expenses? If you live your country to UK the only way you can save from your earnings is by limiting yourself to comfort. Firstly you can be squatting for some time so you get to share the bills with your roomies. Also, you will reduce the amount you spend on food, This may cause you not to eat good foods often since you ate managing.

It is not as easy as it seems, the moment you "move" to Fiat you adhere to the rules of that country and depending on your nationality, it does not matter where you make that change you pay taxes in your country of origin.
On the other hand, "landing" with money in El Salvador, if you are not going to make investments in that country, you will have to pay a fixed +% transfer rate, they have double payment of fees, then pay the intermediary bank, finally and depending on where you sent that money, the respective rates.

And it's not that you're going to get a banner saying be careful, you can't make those Swift transfers, or we don't receive deposits, first they collect their premiums and then when you're in a conventional bank, well, it's that the laws and notifications appear.

For I don't know which of the above mentioned countries is cryptocurrency friendly but I will take  UK though I am not taking it because of the op compliment of the region but base on statistics. And I don't know if everything is simple to use over there as the op is saying, I have not been to any of those countries so I can't have too much input in them.
But from afar London is cryptocurrency friendly than USA because since when I have started this journey, I have not really heard of uk against Bitcoin or cryptocurrency but I have heard a lot from USA.

And I don't know if because of the difference in their uses of the technology.

Seems like the swiss doesn't really care about where or how you got your money, I know a guy who cashed out 22 million in a swiss bank, all his sales from crypto and he just.. kept on living? I mean he did filled out a paperwork at the bank for that, but that's about it, nothing really happened to him at all and nobody cared. As long as you pay your taxes, they do not really care all that much about where the money came from, and not like its a secret, its crypto, it came directly from a crypto exchange, its all notified to everywhere, someone had btc, sold it, and withdrew it from the exchange to the bank, whats the secret? So the government said as long as you got that tax, you are fine buddy and let him be.

El Salvador is indeed a haven for Bitcoin users to conduct any transactions, including withdrawing large amounts. There's no tax, even if you're a foreign investor residing in El Salvador. Nayib Bukele has truly turned El Salvador into a haven for Bitcoin users. Although I haven't personally visited there, several news reports on the legal adoption of Bitcoin in El Salvador confirm all of this.

As long as the crypto comes from money that doesn't violate the law, you are safe to withdraw. However, it can turn into a significant problem if the money you withdraw is proven to be from an illegal source.

It's seems another similar topic of this Best Crypto friendly country?.

Any way, I still want to say that before choosing the best country to withdraw a few million USD Crypto, you need to see if your fund is actually coming from a legitimate source. If the fund comes from an illegal source, then I think that most of the countries where there is good rule of law are the worst countries for you to cash out that fund.
And if your fund is from a legitimate source then I would say initially you should choose those countries which have low or no tax on cryptocurrency and at the same time from the government rules and regulations to banks all are crypto-friendly. And if you get them in any first-world country then it will be best. Now if you want you can follow this table below-

I totally agree on this because it was one of the first things  king Charles III implemented as per regards the acceptance of cryptocurrencies for payments but it was under or going to be regulated by the SEC.
Am glad you can attest to the brilliance in accepting cryptocurrency for payments and transactions because it is the future that is yet to be suitably accepted.

Many people still don't talk about it because London has less number of crypto users as compared to the U.S.

Best country to cash out less questions asked ?
It's UK. ? Specially London where everything is easy ?
Many people Even drive there without dl license it's quite relax place i heard that USA not easy place to cash out.
Can the Dubai or spain can better? I mean less taxes Also so i Open company and transfer crypto from exchangers