Topic: How do you cash out 100 Bitcoin? (Read 83 times)
Hi. I work for a major crypto brokage/ICO advisory company. The usual scenario is, that you need to go through KYC/ALM procedure. One of the analysts will conduct a blockchain analysis, ask you for your trading logs, fiat deposits to exchanges back in history etc. If everything is alright, you will be onboarded as a client. Then you can ask for OTC trading service where large amounts can be liquidated. The company has unlimited accounts on all major crypto exchanges. As the company is regulated, banks usually dont have a problem accepting funds from the company. In some cases, we prepared a report on the origin of funds which was presented to tax authorities, banks and other institutions. To this date and my best knowledge, it has never happened that any authority would say that our report is not enough. Sadly, I have also seen cases, where a client tried to liquidate 1000 BTC and we found out that his address was linked to Silk Road.
Well, assuming you are in the United States, you would have to keep in mind these terrible things called taxes. What you should do if you had 100 Bitcoins is first send me some, haha, then max out your limits at all exchanges. For example, certain exchanges will let you give your address up to verify your address and social to get higher withdrawal limits. You would still have a weekly limit but could probably get it done in a month. The bank will be curious but just explain it and make sure to put it on your taxes in April.
Let's say you want to buy something, a boat, a luxury villa, a private jet, 2-3 lamborghini. How do you get there?
I doubt any bank will ever allow you to receive that amount of money from Crypto due to money laundering suspicions.
And paying for such things in Bitcoin all over the world is rather not possible at the moment.
Therefor I have a simple question: How do you cash out the Bitcoin?
I doubt any bank will ever allow you to receive that amount of money from Crypto due to money laundering suspicions.
And paying for such things in Bitcoin all over the world is rather not possible at the moment.
Therefor I have a simple question: How do you cash out the Bitcoin?
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