Huge profit but how to withdraw - page 4.

optimisticcm

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Quote from: udayantha11 on March 02, 2021, 10:34:43 PM

Hi

If i say i am from anti crypto country means withdrwals and deposits prohibited.

If i get a huge profit of 1million usdt. So how can i withdraw it, shall i move to crypto friendly country and withdraw or any solutions ?

I think there is no country that can completely stop crypto so you should try to sell at peer to peer platforms directly to the seller or even if you do not want to do that you can sell to your local area exchanger or some friemds who want to buy crypto.

sammy21

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Quote from: StartupAnalyst on March 04, 2021, 11:15:21 AM

That's a very big problem when you have crypto but have no opportunity to withdraw it. If nothing works then there is only one variant (very risky and uncertain) is to find "third" people in your country who can exchange you your crypto on fiat (once my friend in my country found them in Telegram channel). Just be very very careful or otherwise you won't live for a long time and really would have to leave your country very quickly. By the way if you are not in urgent need you can continue hodling, trading and waiting till the time when crypto will be legalized in your country.

seeking a third party is not the only or best solution. especially if it's from people you don't know and are in the telegram group. it's a big risk.
except for those who already have a good reputation for doing so.
I still believe that in his country I have a bank that can accept assets like USD or euros. if there is, I am sure he can exchange it on an exchange that provides direct fiat withdrawals to the Bank.

StartupAnalyst

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That's a very big problem when you have crypto but have no opportunity to withdraw it. If nothing works then there is only one variant (very risky and uncertain) is to find "third" people in your country who can exchange you your crypto on fiat (once my friend in my country found them in Telegram channel). Just be very very careful or otherwise you won't live for a long time and really would have to leave your country very quickly. By the way if you are not in urgent need you can continue hodling, trading and waiting till the time when crypto will be legalized in your country.

TopTort777

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Quote from: akirasendo17 on March 04, 2021, 07:24:00 AM

why are you worrying it, USDT is a stable coin, there are some ways which you can do and also make some profit, why not ask your friends if they are into crypto then sell them your USDT in exchange for real money in your country, or if that's a million dollars, you can move to other places or country, but I think ill go with selling it to my friends that are also with cryptocurrency,

Do you have that much friends who are involved in crypto and have in total spare 1 million bucks, which they will wish to invest in crypto?

I think this guy is worried more not about USDT being stable coin or not, but fears of being hacked, losing hardware wallet, exchange performs exit scam.

If I were this guy, I would do everything officially. Register abroad as a individual entrepreneur, pay income tax and withdraw everything from exchange into bank account in that country. With such a huge amount of money, I would prefer to do everything "white" and sleep well, instead doing shady exchanges and later worry for tax commission asking questions.

traderethereum

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Quote from: udayantha11 on March 02, 2021, 10:34:43 PM

Hi

If i say i am from anti crypto country means withdrwals and deposits prohibited.

If i get a huge profit of 1million usdt. So how can i withdraw it, shall i move to crypto friendly country and withdraw or any solutions ?

If I were you, I would send 1 million usdt to the hardware such as Ledger or Trezor, and only use for small amount money and convert it back to bitcoin or altcoins and ask for help from my friends to send the money to my banks.
I will not move all of the money in one time because that will make my banks suspicious and investigate my account and ask me about the money.
You can do as I suggest, so you still have big money in your wallet hardware, and if you need more money, you can convert it into bitcoin and send it to your friend.
You need help from the other party or services that can send the money to your bank account, and once you can get it, you can continue to send the money, but do not send in a large amount.

gurunanakji777

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If you can settle to another country that would be a much better option rather than taking the risk to get cash by trick the government and by any chance you caught you better know the consequences what can happen with you So I would say its better to move to the crypto-friendly country.

mekar sari

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if I have a lot of profit the results from crypto investment to become real money of course I slowly withdraw my profit to my personal bank because in my country if taking large amounts of money is certainly in question maybe your country is the same as mine the solution pulls slowly the most important thing for sure

davidcarpediem

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i recommend binnance to withdraw fiat
i withdraw 50 000 EUROS and it cost me 0,80 cents ...it was done in 3 minutes.
just perfect

k@suy

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Quote from: ?? on ??

Quote from: udayantha11 on March 02, 2021, 10:34:43 PM

Hi

If i say i am from anti crypto country means withdrwals and deposits prohibited.

If i get a huge profit of 1million usdt. So how can i withdraw it, shall i move to crypto friendly country and withdraw or any solutions ?

You don't have to leave your country and go to another country, just use a premium VPN if all crypto sites have been blocked by your country, but if you are still afraid of that, then the last solution is to leave the country for a while.

I agree , with this he can access different exchanges if his country banned them to access that exchange, but the thing is with that amount of money it will be a problem for him so I suggest to deposit it or withdraw it or diversify it in different exchanges such as Binance, kraken , huobi or kucoin then take kyc if need, 1m usdt is too much to hold in just a single wallet and it is at risk.

BChydro

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Quote from: udayantha11 on March 02, 2021, 10:34:43 PM

If i say i am from anti crypto country means withdrwals and deposits prohibited.

If i get a huge profit of 1million usdt. So how can i withdraw it, shall i move to crypto friendly country and withdraw or any solutions ?

If you are from a prohibited country you cannot withdraw everything at once unless you have registered a company or you need to provide the source for the income and it wont be that easy since it is a huge amount of money. The only option is to withdraw the money every month as a salary for a freelance project through P2P and that is the only solution i know to overcome these.

abderrazak belkhir

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Quote from: ?? on ??

No, you do not have to leave your country to be able to cash out because of the crypto ban in your country. All you have to do is get into a peer to peer group that uses your country's currency and begin to sell off gradually. You must not cash out all at once to avoid bank noticing the huge transfers and becoming suspicious. Do it bits by bits and you will be fine.

Thats the best solution but it can be really risky and i dont think i will cash out using peer to peer for a huge amont like this and i believe this can be a problem...leaving your country is also a bad idea and i think the best solution is using peer to peer transactions but with small amounts and not all in one transaction

ashmodeus

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well , it depend on your desire , 1 millions usdt its a huge amount of money , i can create new life from it , maybe u want create new life too with it, so u just move from your country , but if u want still there , just find on internet about who want to trade instanly , but care , scammer everywhere. But, I am a little bit wondering how such a thing could be a problem for you , i have many many way to withdraw to my bank account, even if my country prohibited.

akirasendo17

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why are you worrying it, USDT is a stable coin, there are some ways which you can do and also make some profit, why not ask your friends if they are into crypto then sell them your USDT in exchange for real money in your country, or if that's a million dollars, you can move to other places or country, but I think ill go with selling it to my friends that are also with cryptocurrency,

conected

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Quote from: jjdub7 on March 04, 2021, 04:20:50 AM

Quote from: udayantha11 on March 02, 2021, 10:34:43 PM

Hi

If i say i am from anti crypto country means withdrwals and deposits prohibited.

If i get a huge profit of 1million usdt. So how can i withdraw it, shall i move to crypto friendly country and withdraw or any solutions ?

Perhaps the easiest way is to register in some of the many exchanges and sell your tokens for a currency that is accepted in your country/bank - USD , EURO or something else. I don't think you need to do any other operations.

- Indeed, exchanges are working on that, typically binance exchanges, which allow us to liquidate bitcoin for cash through a number of simple processes that only take a few minutes, a lot of investors are buying and selling USDT on the binance platform, he can check that out but check credibility before proceeding as some investors often delay the process. Except for this approach, bitcoin and crypto seem to have become too popular, a lot of groups on telegram and facebook in countries have small markets, he can withdraw money this way as long as he has found a reputable buyer

bakasabo

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udayantha11, which country you are from? Why do you need to withdraw your profit? Why dont you want to keep funds on exchanges/wallets and order a bunch of crypto debit cards ? There is a topic about crypto debit cards (it is on Russian language, but you might use chrome and build-in translator to translate it) - you can get a bunch of them and do daily withdrawals. Usual daily withdrawal limit is 300-500 usd/eur. The more cards you use, bigger amount you can cash out daily.

Get some cash from cards, some amount using p2p exchange and leave the rest "on the card balance" and use them for daily expenses. I'm sure you dont need to withdraw "your 1 million USDT" and keep them in fiat.

Kitaiev

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Many people can only dream of problems like yours!
First you need to understand how much you want to cash out and fix it in stablecoins. After that take care of how you can explain the origin of this money and only then cash out in another country or other jurisdiction. Prepare for the fact that you will need to lose part of this amount on all sorts of commissions and taxes.

shoreno

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i thought depo is also unavailable so how come you profited 1m usd . dont tell me you win it via a crypto raffle or something but that wont be possible as well because when we say banned , that means all forms and kind of website related to it wont be existed in the first place .

if you badly want to know what it feels to touch and earn a crypto , your idea is good that you need to transfer to a crypto free country and thats how you start your crypto journey.

jjdub7

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Quote from: udayantha11 on March 02, 2021, 10:34:43 PM

Hi

If i say i am from anti crypto country means withdrwals and deposits prohibited.

If i get a huge profit of 1million usdt. So how can i withdraw it, shall i move to crypto friendly country and withdraw or any solutions ?

Perhaps the easiest way is to register in some of the many exchanges and sell your tokens for a currency that is accepted in your country/bank - USD , EURO or something else. I don't think you need to do any other operations.

so98nn

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Quote from: udayantha11 on March 02, 2021, 10:34:43 PM

Hi

If i say i am from anti crypto country means withdrwals and deposits prohibited.

If i get a huge profit of 1million usdt. So how can i withdraw it, shall i move to crypto friendly country and withdraw or any solutions ?

Multiple ways are there and which has been posted already in this thread. For example, p2p, local exchanger, cash money etc.

If you believe that these options are still risky and you may get set up in your local authority for exchanging such high amount of money then you will have to take the longest path for the good to happen!

Most of the time we have relatives / friends who are learning outside the country, or may be settled in other countries lets say USA. You can always get in touch with them. Send your currency to their wallet and ask them to sell it for you. Obviously you need 1000% trust on them so that they will return you money. Or follow an escrow process here if you dont trust anyone.

Above this, ask them to wire transfer the money in the name of "Medical Emergency", "School/College Fees" in parts over period of time. This way you can also get free tax on this amount depending upon your country's rules and regulation.

maydna

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Quote from: udayantha11 on March 02, 2021, 10:34:43 PM

Hi

If i say i am from anti crypto country means withdrwals and deposits prohibited.

If i get a huge profit of 1million usdt. So how can i withdraw it, shall i move to crypto friendly country and withdraw or any solutions ?

The solutions are you need to find someone from the other country to help you buy and sell the bitcoin or find local sellers who can help you send the money to your bank account. I am sure that people from your country will offer this service to many people, even if in your country, crypto is prohibited.

But how about using Paypal? I hope you can use Paypal to deposit your money to crypto, withdraw the crypto into your fiat money, and send it into your bank account.

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