How can one cash out a large amount of bitcoins (or other crypto)

alyssa85

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Quote from: Roderic on January 31, 2018, 02:40:23 AM

How can one cash out a large amount of bitcoins (or other crypto) without damaging the price too much?

There are Over The Counter (OTC) services that allow you to sell, usually to an exchange, that then discreetly sells the coins via market maker operations on their exchange.

You can sell lots of BTC in the OTC market - and you can also buy. See the following article:

https://bravenewcoin.com/news/how-to-buy-large-amounts-of-bitcoin-through-the-otc-market/

Dapper

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BTC to fiat in large-ish transactions is a risk for just about any bank flagging your account.

If you're simply cashing in to lock in your profits, the move I like is btc (or whatever crypto) to gold bars. Then gold bars to sdb.

You'll of course want to do this in a country where it's safe to store gold though.

cissrawk

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Just sell it on your friend or you can use LocalBitcoins to sell your bitcoin because theres no limit on there, you just need to sell it on different people.

Remember, if you want cashing out large ammount of coin, you need ID Verification or KYC verification.

player514

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Quote from: Roderic on January 31, 2018, 02:40:23 AM

How can one cash out a large amount of bitcoins (or other crypto) without damaging the price too much?

If you're going to cash out a significant amount, you're going to definitely end up damaging the price. The only way I could see you not damaging the price is if you sell directly from peer to peer. If, let's say you have 5 friends who completely want to buy everything from you, then you could sell to them, and the bitcoin is still in someone's hands. People won't see a huge sell order and they won't try to pull out of the market asap.

If you're going to use an exchange, however, you should be prepped for the fees too. I'm sure that there may be some dangers (especially stuff like exchanges ghosting your account). Be careful with how you cash out!

Roderic

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How can one cash out a large amount of bitcoins (or other crypto) without damaging the price too much?

Topic: How can one cash out a large amount of bitcoins (or other crypto) (Read 101 times)