It's absolutely crazy to store amounts that large on Coinbase or any other exchange if you ask me. The risk of hacking or arbitrary account freezing is far too high. I seriously doubt that the possible return of trading activity you seem to have in mind is worth this risk. And even if your trading ideas could be implemented, there's no guarantee that you will generate a positive return of investment.
However I doubt they can be implemented. Even if you manage to get past the highly privacy invasive registration process of an exchange (like Kraken) that allows you trading huge amounts and you succeed in convincing the governmental bootlickers at your bank that you're not a money launderer, you will discover that the exchanges are not offering sufficient liquidity to make trades that large profitable. The slippage is enormous.
You will have a less stressful life if you just start slowly withdrawing your funds from Coinbase to addresses you control. Bitcoin's purchasing power will appreciate more than enough to make you a happy man by simply hodling.
ya.ya.yo!
Topic: Best place to sell large amounts of BTC? - page 2. (Read 11300 times)
I would suggest you to use yobit but don't invest lot of money at once. Invest huge money in small small pieces that would not attract site owner to take your money. Well the site is trusted till now but I couldn't say about its future policy. Also I recommend to go to local trader for dealing with huge money.
i could suggest ibn local trader because I had always dealt with local trader even time comes to handle lot of money because I can't trust any website let how trustworthy the site be. I always prefer local trader for buying and selling of bitcoin.
With this amount of money you might have some issues. All exchangers are obliged for their business with different anti fraud and anti money laundering policies and if you are planing to transfer the money to the bank account this may cause another problem, the interese of tax authorities.
Anyway, maybe would be smart to make more smaller transactions.
Anyway, maybe would be smart to make more smaller transactions.
As above.
It Would be reasonable to split big amounts for smaller parts and transact them for traders.
With this amount of money you might have some issues. All exchangers are obliged for their business with different anti fraud and anti money laundering policies and if you are planing to transfer the money to the bank account this may cause another problem, the interese of tax authorities.
Anyway, maybe would be smart to make more smaller transactions.
Anyway, maybe would be smart to make more smaller transactions.
Gemini Auctions - Large amount of coins without affect a market price of Bitcoin. Its quite new but seems working.
Are you planning on leaving the cash on the exchange while you wait for the price to drop?
Otherwise you will get into issues with the banks and tax agencies when you get a big incoming transfer (>10k in most countries), which will be investigated. If you didn't pay tax for instance, this may cause problems if you can't explain where and when you got this amount from.
If you plan to trade it within days, you may as well leave it on the exchange, as transfer times between banks will also take days before your funds are withdrawn or deposited.
Otherwise you will get into issues with the banks and tax agencies when you get a big incoming transfer (>10k in most countries), which will be investigated. If you didn't pay tax for instance, this may cause problems if you can't explain where and when you got this amount from.
If you plan to trade it within days, you may as well leave it on the exchange, as transfer times between banks will also take days before your funds are withdrawn or deposited.
I'm not sure that any exchanger would sell this large amount in one single transaction. Maybe if you split this amount smaller transactions. Or that you find someone on localbitcoins or to trade in person? Anyway, this is risky, I wouldn't dare to sell that much.
Well if you actually have traded personally before then its a good choice else with recommendation you can try trading for smaller amount and then if you feel comfortable go for bigger else local bitcoin in any day choice where you sell as much as you want to the trusted buyers/sellers.
you can sell your bitcoin in any how amount in localbitcoins with safe because a lot of people using the localbitcoins for buy and sell bitcoin and i often sell my bitcoin in to localbitcoins without any worry.
yes i will also prefer local bitcoin as it is one of the most reliable and trusted way of selling or buying bitcoin as millions of transactions are made on daily bases here, therefore i will recommend localbitcoin. [assuming you really want to sell $100K worth of bitcoin]
a word of warning:
you may encounter some problems with your bank because that is a large amount of money and it is clearly going to come from a bitcoin exchange service and depending on your country, your bank may flag your account and you may face some troubles this can be taxes or worse.
a word of warning:
you may encounter some problems with your bank because that is a large amount of money and it is clearly going to come from a bitcoin exchange service and depending on your country, your bank may flag your account and you may face some troubles this can be taxes or worse.
You will not get in trouble by doing this, but you will get in trouble when you do get flagged and you want to avoid paying taxes on those bitcoins. Pay your tax, when it is due and you will not have to worry about the IRS. In some countries, Bitcoin is seen as a commodity, so you will only pay Capital Gains.
The banks normally flag transactions at 10k, but if you have a frequent 10k transaction history over a short period, they would flag that too. So there is no way to avoid paying taxes, when you working through regulated exchanges.
[assuming you really want to sell $100K worth of bitcoin]
a word of warning:
you may encounter some problems with your bank because that is a large amount of money and it is clearly going to come from a bitcoin exchange service and depending on your country, your bank may flag your account and you may face some troubles this can be taxes or worse.
a word of warning:
you may encounter some problems with your bank because that is a large amount of money and it is clearly going to come from a bitcoin exchange service and depending on your country, your bank may flag your account and you may face some troubles this can be taxes or worse.
Do not trade on one site,spread it out to at least 5 trading sites because this is a big amount and only go for trusted sellers like kracken,
This is a good idea, but if kraken will able to do job for that $100k worth of bitcoin then let it be. So most of the people here kraken is the best choice.
And it is a quite risky that you are able to hold a lot of bitcoins that is worth $100k just keep an eye for those phishing site when you are going to visit kraken.
But transaction so huge could attract some attention - for example it might be noted as "VIP transaction" by the exchange,
and used later to track "whale level" users when government potentially introduce some cryptocurrency tax in the future.
Do not trade on one site,spread it out to at least 5 trading sites because this is a big amount and only go for trusted sellers like kracken,
This is a good idea, but if kraken will able to do job for that $100k worth of bitcoin then let it be. So most of the people here kraken is the best choice.
And it is a quite risky that you are able to hold a lot of bitcoins that is worth $100k just keep an eye for those phishing site when you are going to visit kraken.
Because that trade is not a job.
Do not trade on one site,spread it out to at least 5 trading sites because this is a big amount and only go for trusted sellers like kracken,
you can sell your bitcoin in any how amount in localbitcoins with safe because a lot of people using the localbitcoins for buy and sell bitcoin and i often sell my bitcoin in to localbitcoins without any worry.
I have used BTC-E in the past but I dunno how trustworthy it is now, and the amount i sold was >1 Bitcoin.
I have heard that Kraken is pretty good for serious investors, so I would try using that.
I have heard that Kraken is pretty good for serious investors, so I would try using that.
So you use coinbase as a wallet? 100.000 USD? O.O Is it safe?
I have a question here too, if you trade 100k BTC for USD, you will pay a fixed value or it will decrease a little bit?
I have a question here too, if you trade 100k BTC for USD, you will pay a fixed value or it will decrease a little bit?
http://blog.kraken.com/post/121063219162/introducing-the-kraken-dark-pool
don't forget that kraken also operates a dark pool. that's your slippage eliminated right there.
don't forget that kraken also operates a dark pool. that's your slippage eliminated right there.
no problem = Kraken.
kraken is a good choice for selling big amount of bitcoin and from that image, i think we should get at least verification for tier 3 to get maximal withdraw limit in monthly but it would be good again if you complete until the tier 4 so the withdrawing the amount that you can do is much bigger than tier 3.
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