Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
I think binance can be trusted they also have a large exchange volume, if I have lots of cryptos I will place them on several exchanges, I will not bet all my funds in one exchange even if the exchange can be trusted. 
Topic: How do you sell a million dollars bag of crypto? Would you trust exchanges? - page 7. (Read 799 times)
November 06, 2019, 08:24:14 AM
November 06, 2019, 08:15:43 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.
Unless you want to short it (in which case stable coins may be better option too), there are few reasons to sell such amount all at once.
And then you can sell some at various exchanges and at various OTC exchangers (including crypto prepaid cards).
And even then, it could happen that the exchange is fine and allows you withdraw, while the bank will start asking questions and even lock your account (and money).
I would exchange most of it onto card slowly, while spending / withdrawing.
Also keep in mind that there are more and more things you can buy directly for crypto.
November 06, 2019, 08:09:32 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
You can do that on the various major exchange site, and I would trust binance to do that. Last year I have used binance to sell my altcoin worth more than $300,000, and everything went very smooth, and i had not gotten any problem with my transaction. I prefer binance rather than okex or huobi. The primary exchange site must comply with the regulation before these exchange sites can used fiat as trading pair, and that gives you more protection rather than use small exchange site. If you are still feeling worry about that and you can do that into some parts and I believe all of your transactions will be going very smooth.
I have used binance major exchange site to trade or exchange my coins so many times.
November 06, 2019, 08:05:03 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
That's too big they might question you for having that kind of amount, the best thing to do if you're going to ask me is not do it in one exchange alone you can use all these reputable exchanges and do it in batches, you will incur a fee but you can keep your account and your money safe.
November 06, 2019, 07:48:48 AM
Binance, Huobi, Okex I think it's safe, funds will be protected safely there if you make a transaction but for large transactions I don't think it can have a minimum amount, Are you sure you want to sell all assets directly? it's better to save the asset in a popular exchange.
November 06, 2019, 07:47:50 AM
I think we can expect binance, okek, bittrex and the other reputable exchanges here but first you have to give them kyc to give you special treatment.
These are the requirements of binance for their big traders.
These are the requirements of binance for their big traders.
Quote
The withdrawal limit of Binance allows unverified users (Level 1) to withdraw 2 BTC every day, while verified users (Level 2) can withdraw as much as 100 BTC in one day, which is around $800’000 if current price of BTC ($8000 per coin) is considered. Binance also acts as a secure wallet for users.
November 06, 2019, 07:28:02 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
You do not have much choice except to reliance, so the only place you can do this transactions are the exchanges. You should choose the most reliable of them. Or you can divide the amount. You can either deposit all money with a short time interval to one exchange, or divide all money between several exchanges. Already, you will not be offered the choice to deposit such a large amount unless you are corporative user. November 06, 2019, 07:27:17 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
Binance is a trusted exchange but if you are too scared then do not deposit all the money at once, you can sell bit by bit until you sell it all, or use different top exchanges e.g send some to binance, okex, kucoin,huobi November 06, 2019, 07:21:51 AM
Do not trust the exchange by any means even though they have a good reputation, nobody can give you a guarantee that you will not lose your assets when you trade it there.
Use the safest method to sell your bag by selling it little by little, even if the exchange blocks your account for no reason.
You still have some of your assets, I have experienced a sudden block from Bittrex and I learned from my mistake.
Use the safest method to sell your bag by selling it little by little, even if the exchange blocks your account for no reason.
You still have some of your assets, I have experienced a sudden block from Bittrex and I learned from my mistake.
November 06, 2019, 07:21:29 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
Binance is a good selection for huge transaction and I suggest 3 things for you to do since it's huge transaction and you might get compromise for that.
1. Gradually sell your coins today and by this you can assure and test if there's no issue will occur upon selling.
2. Create multiple account on binance and divide the amount you wish to sell.
3. Sell the amount you wish to dispose today and come back tomorrow to sell again.
November 06, 2019, 07:21:06 AM
I think that such amounts are best to sell in the OTC market. if you have a connection you can find a good buyer. the main thing is to follow all safety measures so that you are not robbed
November 06, 2019, 07:19:11 AM
If you do that I think you will start to creat a big problem because all we know that is so risky. If binance I will trust but not a huge amount of crypto. If you are thinking your security just forget it because you are not really secured because even government will nothing to do in terms of crypto scammed because crypto is not legal. So think well before dealing in huge transactions.
November 06, 2019, 07:15:31 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
do not hesitate to sell your crypto assets in famous exchanges, as you mentioned. if you want to sell a number or that much, look for a comparison where choosing a volume large enough, making it easier for you to sell your assets. maybe for the sake of security and rules of a country, there is a further level to sell assets of that size. because the exchange will be suspicious of that, as you know many crypto assets are misused like money laundering and other criminal acts. 
November 06, 2019, 07:03:58 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
In that big amount i will divide it in multiple trusted exchange since i am not sure if i will able to widraw that amount in just one exchange even it is trusted . I will be affraid if owner of that exchange will question where my money came from and ending up locked my account. November 06, 2019, 06:55:09 AM
never get that much money in crypto form you can make sale in small pieces to 25,000 with 10x sales if you are in doubt ,as far as I know top exchanges like binance can be trusted and have never found the problem of undelivered withdraw
November 06, 2019, 06:53:34 AM
Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?
Those three exchanges are having big volume and for 250k USD mass sell i think those exchange are able to handle it easy. And also the security of those exchanges are great so it's up to you.
And for the law, i think no exchange have a rule that they have a law for being scammed so just trust the exchanges because they earned more than 250k USD each week and i'm sure those exchanges won't scam you because those exchanges are the nest of the whales.
November 06, 2019, 06:45:18 AM
Will not do it in exchange all-in, or will portion it into different popular exchanges but not still all in. Say put some in a week in those exchanges then try again the next week or month. Depends on how fast their process is. or find some contact who will willing to buy those amount with someone you know personally or thru meetup but will seem inappropriate more dangerous. Just don't sell it all at once in an exchange, plan the selling befoe your target date to have the total money.
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November 06, 2019, 06:48:09 AM
OTC is the best way to trade that huge amount of money. I'm willing to travel to deal face to face so that I can ensure the safety of my assets. Never trust exchange for that huge amount of money although binance have an insurance fund incase somethings wrong happened on there exchange. Also never trust localbitcoins escrow. Better to the trade face to face and let you and the oter party split the expenses for your travel fee.
November 06, 2019, 06:43:40 AM
I think doing that on the top few exchanges as you mentioned is not a problem for me. What is the reason you want to do that without something obvious or emergency? I better keep it as my investment in the future. But if there is something emergency I think withdrawing it gradually is the best way or if you want a quick way try to send your funds to several exchanges and you can withdraw it from each of those exchanges.
November 06, 2019, 06:37:50 AM
the law cannot protect you. I think that at Binance this can be done without problems. they have huge volumes and reputation. you just need to do a high level of verification in order to withdraw money
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