Topic: Cashing out large amounts of bitcoins? (Read 18758 times)
I don't cashout big amounts in BTC due to high fees and mostly convert it into ETH and then in FIAT as mostly local exchanges allow FIAT withdrawals and the overall fee is quite less. If you choose BTC, you will need to pay heavy fee, then exchange fee via FIAT which would make you lose double the amount. ETH fee is usually the least.
How does some one go about cashing out 5 million dollars worth of bitcoin?
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
To cash out large amount of bitcoin I suggest you use high volume OTC trader , most are based in china ,you might find few around the US but volume might be small . I have tried this and it’s okay to me , I receive my fund to my company account that way my bank doesn’t pop up with many questions. Write Mr Wei he’s well known OTC trader in china. Write me for more info
I have found that even cashing out modest amounts of Bitcoins from Exchanges to be a major pain in the ass. This includes the big ones like Coinbase. Even when you have passed all the verification test and they know 100% who you are and you are sending it to a major bank that you have been with for 20 years. For some reason Banks just do not want to make the process simple. I personally am sick and tired of Banks dictating to you about where you send your money. I like most others pay my taxes, have legitimate accounts and am fully transparent on where funds come from but still you get delays. Last January I found it impossible to get money out of any exchanges. The money kept getting sent back to the Exchange because there was problems with their USD account or they were overloaded or whatever. I ended up getting the money out in Bitcoin and selling on Local Bitcoins. We really do need to be able to work with our Banks and be able to go into them and say I want my Bitcoin cashed now help me f&^%ing do it and stop making it difficult. The bullshit that Banks are pulling now such as a breach of their terms and conditions to buy and sell cryptos etc is simply wrong and they should not be allowed to get away with it. If your funds are legitimate and Bitcoin is legitimate then why the hell should Banks have any say in delaying your funds!!
anyone looking to cash out into gold?
can get you a big discount as well using our pre-paid gold forward contracts
email me: offmarketinvestments46(at)gmail.com
can get you a big discount as well using our pre-paid gold forward contracts
email me: offmarketinvestments46(at)gmail.com
How does some one go about cashing out 5 million dollars worth of bitcoin?
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
I'd suggest you try & speak privately to a large bitcoin companies CEO to try & set up an OTC trade or something. Use Skype or something to try & discuss at length, you'll probably need to sell at some kind of discount considering it's such a large quantity.
Be careful though, you need to check anybody you deal with is very trustworthy.
Here is what i would do i would sell my crypto turn it into bitcoins get a ledger nano wallet store it off line then make low deposits like 1 bitcoin per month or week or just keep bitcoin wait for it to go to a higher amount why risk cashing it all out.
How does some one go about cashing out 5 million dollars worth of bitcoin?
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
0.09% of 1 million would be 900 USD and not 9k USD. So the amount is not high to that person who is cashing out such a huge amount. 900 USd fees is simply nothing compared to a million dollar. Even though I have never accumulated such a high amount, I believe it will be wise not to cash out in a single go. It would attract a lot of heat if the person is cashing out to any bank account.
IT is always advisable to cash out in bits and parts or a fixed monthly amount. It would not raise a security alarm to the regulators and the person must include that earning to the tax statement to be safe. Because what's the use of a million dollar if he spend the rest of his life in jail?
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How would you explain to your bank or your tax administration where does the money come from? In lots of countries, there re strong AML laws where people start asking lots of questions in order to make sure your money did not come from illegal sources.
Is Bitcoin an illegal source? If you told them you made the money through bitcoin why is that a problem?
Why not trying to contact directly a "big bitcoin investor" instead of going through an exchange?
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract
Which would be a perfect cause for endless litigation
After which you might end up with neither coins nor dollars. In fact, by looking for an off-the-market deal you are actually increasing the risks, not diminishing them. And if with an exchange you risk losing only your coins, going the offline way you are literally risking your life. There was a news a few days ago about some dude from Brooklin who had a gun pointed to his head when he tried to sell his coins this way
The only legendary on btctalk that doesnt even have 1 btc.
Gah you are such a idiot deisik
I have never cashed out a large amount of bitcoins.My biggest cashout was 0.005 btc and that is it.I hope that one day I will be able to withdrawal every month at least 0.5 btc to have enought money for me.
if you want to cashout more your investment should also be more because sometimes the prices may go up and down. I think you will make a profit when the market is good and your withdrawals will be high only when you capable making profits in the market.
Not sure if still relevant but i heard buying gold was a good way. Btc to gold
If I were to do it I'd not only split my money between exchanges, but also accounts and banks. With that much money you're not only risking being blocked by exchanges but also by your banks. Also, I wouldn't want to get raided by the police after transferring a couple million to an account that hasn't ever seen a large transaction. I just don't feel like proving to people that I'm not a terrorist.
This is the best solution that I can think of. Even some exchanges have a withdrawal limit so I doubt you can withdraw huge amount as well. Just split the money in a exchanges and wait for another few days before making a withdrawal request again. In this method, the exchanges will not set an alarm on your account for withdrawing big amounts. If they flag your account, then definitely you will have a lot of proving to do before letting you withdraw your funds. Just be on the safe side to prevent hassles on your end.
Why not trying to contact directly a "big bitcoin investor" instead of going through an exchange?
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract.
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract.
I think you cannot sell it to a "big investor" because you can't trusy anybody. If they will buy bitcoin, they buy it straight forward without needing your offer.
The question is really vital and probably the answer is somehow negative if you try to cash a big sum of bitcoin out.
I have never cashed out a large amount of bitcoins.My biggest cashout was 0.005 btc and that is it.I hope that one day I will be able to withdrawal every month at least 0.5 btc to have enought money for me.
How does some one go about cashing out 5 million dollars worth of bitcoin?
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
I THINK THE bITSTAMP FEE OF 0.09 FOR MILLION IS FAIR AND ABOUT THE LOWEST I HAVE SEEN. DO ADEAL WITH THEM IF YOU HAVE SUCH BTC.
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
I THINK THE bITSTAMP FEE OF 0.09 FOR MILLION IS FAIR AND ABOUT THE LOWEST I HAVE SEEN. DO ADEAL WITH THEM IF YOU HAVE SUCH BTC.
Why not trying to contact directly a "big bitcoin investor" instead of going through an exchange?
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract
Which would be a perfect cause for endless litigation
After which you might end up with neither coins nor dollars. In fact, by looking for an off-the-market deal you are actually increasing the risks, not diminishing them. And if with an exchange you risk losing only your coins, going the offline way you are literally risking your life. There was a news a few days ago about some dude from Brooklin who had a gun pointed to his head when he tried to sell his coins this way
My advice would be to ignore the fee. Just use a reliable exchange such as Bitstamp or Btc-e. While trying to save 0.1% or 0.2% of the total amount, you may be putting the entire capital in risk. 5 million USD worth of BTC is quite a huge amount. If I were in your place, I would be willing to pay even 1% fee, provided my coins are traded safely.
Cashing large amount have fees. you can find a exchange that has less fees. you will loose alot if the fees is big.
That's not the point if you are about to withdraw a 1 million dollars then you shouldn't risk it just for lower fees, Netrox's advice is a right thing to do. Im my opinion I do not prefer for a lower fees as they might be a scam and if ever that they are op will lose not just 0.1% or 0.9% but the whole balance.
I'd not withdraw that lot of money at once if I were you.
Distribute the money into like four phases, and simply use an exchange like localbitcoins.com.
Good idea, by that you will safely get it unlike when you withdraw a huge amount of it and if there's something wrong it will be a big regret to you. I didn't experience also cashing out a big amount of it, whenever i want to have it I cash it out little by little. Distribute the money into like four phases, and simply use an exchange like localbitcoins.com.
Why not trying to contact directly a "big bitcoin investor" instead of going through an exchange?
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract.
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract.
How does some one go about cashing out 5 million dollars worth of bitcoin?
IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
If your paying tax for government then no need obviously there will be kyc process in wallets for withdrawing money . As fa am using wallet in my country for local exchange it takes less than 0.1% for each transaction mine is not big amount like you million . I really wanted to follow this thread if in future i would come to your position IS there a trust worthy exchange that doesn't have low limits.. and high fees?
Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.
Does anyone have any experience cashing out large amounts that does not take a year to do?
thanks
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