I think that most of those companies or icos that are just raising that amount of moeny are just withdrawing their bitcoins or they raised funds just by selling them for fiat money, there is no other way to be able to cashout such those larger amounts of money like one hundred thousand dollars without raising any flag on your bank. Maybe at the next day they would have tons of lawyers in front of his door, or maybe it would be full of cops too.
It is a difficult situation, but the real biggest ones doesnt have this kind of problems because they are already prepared for thise kind of scenarios.
Topic: Is it possible to cash out larger amount (Read 417 times)
So I'm watching ICOs and they are getting few million dollars, which is cool. But what if they need some specific amount of real cash, for marketing or development, like 100k or more. Is it even possible to cash out?
I believe ICOs have hired business managers who have already set up banking partners for their "foundation" so they can have an "exit route" in case they are in quick need of fiat. I am not saying that they will exit scam, but if it will come to that, yes, they can withdraw millions of dollars easily.
Only some of them may be scam.To cash out large amount of dollars, they need of bankers support. With out the bank people help they can't get huge dollar to cash out.You have to save bitcoin to cash out huge dollars.If the price of bitcoin increased means, it's easy to cash out huge dollars.
an individual can cash out huge amount, they'd look suspicious to banks however. that individual could end up interrogated. i wonder if the scammers who scammed millions through ICO were busted due to this.
It is possible but be sure to know government and banking rules to avoid your transaction to raise an alarm. Upon cashing in to local bank, there might be taxes incurred to transactions, which defeat why most cryptos were made.
Some make companies to make transaction legit, some hire brokers, many do it bit by bit and exchange it for cash directly deposited to their accounts
Some make companies to make transaction legit, some hire brokers, many do it bit by bit and exchange it for cash directly deposited to their accounts
So I'm watching ICOs and they are getting few million dollars, which is cool. But what if they need some specific amount of real cash, for marketing or development, like 100k or more. Is it even possible to cash out?
I believe ICOs have hired business managers who have already set up banking partners for their "foundation" so they can have an "exit route" in case they are in quick need of fiat. I am not saying that they will exit scam, but if it will come to that, yes, they can withdraw millions of dollars easily.
Cashing out bitcoin or any other crypto currency is not a big problem if the crypto currencies are legal in that country. The problem arises if crypto currencies are not legal in the country. Huge transactions from unknown sources often lead to the bank account getting frozen .
Even if cryptos are illegal in the country there are some methods but a bit risky through which we can withdraw crytpos. You can withdraw the money to your bank account through online services little by little so that no one doubts you. You can contact a seller who might give you cash for cryptos.
Even if cryptos are illegal in the country there are some methods but a bit risky through which we can withdraw crytpos. You can withdraw the money to your bank account through online services little by little so that no one doubts you. You can contact a seller who might give you cash for cryptos.
So I'm watching ICOs and they are getting few million dollars, which is cool. But what if they need some specific amount of real cash, for marketing or development, like 100k or more. Is it even possible to cash out?
Cash out of any amount is possible, just need to find the correct broker who can do it. However, you have to keep in mind that, transferring a huge amount to a bank account may raise some alarm and the bank can report such transactions to the Anti Money Laundering department to find the origin of that fund.
However, if a particular ICO is registered with the proper regulatory authority, such hassles can be avoided. Licenced companies are protected in many ways.
Great thank you, it's much more clear now
Possible,
How patient is the key
You need time to cash out
I think it is possible to cash out big quite fast, I would try it sometime
How patient is the key
You need time to cash out
I think it is possible to cash out big quite fast, I would try it sometime
So I'm watching ICOs and they are getting few million dollars, which is cool. But what if they need some specific amount of real cash, for marketing or development, like 100k or more. Is it even possible to cash out?
Cash out of any amount is possible, just need to find the correct broker who can do it. However, you have to keep in mind that, transferring a huge amount to a bank account may raise some alarm and the bank can report such transactions to the Anti Money Laundering department to find the origin of that fund.
However, if a particular ICO is registered with the proper regulatory authority, such hassles can be avoided. Licenced companies are protected in many ways.
So I'm watching ICOs and they are getting few million dollars, which is cool. But what if they need some specific amount of real cash, for marketing or development, like 100k or more. Is it even possible to cash out?
That's what OTC markets are for. Years ago, whales and miners needed to dump on exchanges like MT Gox or BTC-e. The ecosystem is much more diverse now. Institutional investors have been entering the space since 2014, and the over-the-counter markets are actually quite thick from what I hear now. If ICO operators are smart, they will never dump anything on exchanges. Most will still be holding significant funds in BTC and ETH, so they have no interest in crashing the markets and/or selling into low liquidity.
The Coinbase flash crash months ago was from an ICO liquidating via market order. That's exactly what ICOs should never do.
It is possible but are they willing to give more information about theirselves or they would still want to be anonymous?
I guess that is why this ICO's are already putting their names in their websites (legitimate ones) this is also a good proof that they are legit and will be staying for long.
It wont be a problem for them to withdraw it easily.
I guess that is why this ICO's are already putting their names in their websites (legitimate ones) this is also a good proof that they are legit and will be staying for long.
It wont be a problem for them to withdraw it easily.
If you have officially registered business, of course you can but if you are only simple verified user, you can't. But usually they don't need to cashout during process because they can use online platform for payments.
Cashout of 100k in real life will take some fees so it won't be good idea to lose some amount of money, well finally it depends on agreement between you/your business and bank.
Cashout of 100k in real life will take some fees so it won't be good idea to lose some amount of money, well finally it depends on agreement between you/your business and bank.
So I'm watching ICOs and they are getting few million dollars, which is cool. But what if they need some specific amount of real cash, for marketing or development, like 100k or more. Is it even possible to cash out?
Yes they can cash out even more than that but it all depends on what country you are base. If you are into very strict countries that you have to comply with the crypto rules they had made upon adopting bitcoin. It's either you'll cashout without any problem and hassle or you can't cashout unless you'll comply to those requirements. What is bothering about this? Do you have millions worth of bitcoin/alt coin?
That is the main reason of why some icos try to get the best legal advisor that they can afford to hire.
Just imagine, if they want to withdraw that amount of money, then they will need a lot of effor from the law in order to be able to withdraw that money without being suspicious.
If they want to do it by the right way, then they are going to pay a lot of taxes, and of course, it will take some time. But if they want to do it by the Black way, then it is just matter of hours in order to get those funds and sell them for cash to another company.
Just imagine, if they want to withdraw that amount of money, then they will need a lot of effor from the law in order to be able to withdraw that money without being suspicious.
If they want to do it by the right way, then they are going to pay a lot of taxes, and of course, it will take some time. But if they want to do it by the Black way, then it is just matter of hours in order to get those funds and sell them for cash to another company.
Actually, not many ICOs have hired legal teams, at least not transparently. Cashing out large amounts is not the worry, believe me. For one, most onward payments are made in crypto. For another, it's actually pretty easy to stagger out cash outs, a hundred thousand a month over 10 exchanges is a million. More than enough to "fund development". All this can be done legally and legitimately.
To my knowledge, and even by the information expressed, those who are engaging services now are actually just trying to avoid future crackdowns from financial regulators. And despite what a lot of legal firms are claiming now, there is no such thing as a fully compliant ICO, at least not yet. An ICO that is not in violation of any regulations, does not make it necessarily fully compliant, not without audits and open books to regulators.
It is possible to cash out larger amounts, but it becomes more difficult the more you try and sell unless you know someone that is buying so you guys can then figure out a peer to peer trade and the blockchain will settle it for you. However, this is rare and usually people have to resort to exchanges and like I said it's harder the more you try and sell. You can do it slowly with Bitcoin ATMs.
That is the main reason of why some icos try to get the best legal advisor that they can afford to hire.
Just imagine, if they want to withdraw that amount of money, then they will need a lot of effor from the law in order to be able to withdraw that money without being suspicious.
If they want to do it by the right way, then they are going to pay a lot of taxes, and of course, it will take some time. But if they want to do it by the Black way, then it is just matter of hours in order to get those funds and sell them for cash to another company.
Just imagine, if they want to withdraw that amount of money, then they will need a lot of effor from the law in order to be able to withdraw that money without being suspicious.
If they want to do it by the right way, then they are going to pay a lot of taxes, and of course, it will take some time. But if they want to do it by the Black way, then it is just matter of hours in order to get those funds and sell them for cash to another company.
If we talk about Swiss banks? So you basically pass that legal stuff, right?
Why not? It is possible to cash out that amount. You can cash out by bit and in large quantity as you prefer.
That is the main reason of why some icos try to get the best legal advisor that they can afford to hire.
Just imagine, if they want to withdraw that amount of money, then they will need a lot of effor from the law in order to be able to withdraw that money without being suspicious.
If they want to do it by the right way, then they are going to pay a lot of taxes, and of course, it will take some time. But if they want to do it by the Black way, then it is just matter of hours in order to get those funds and sell them for cash to another company.
Just imagine, if they want to withdraw that amount of money, then they will need a lot of effor from the law in order to be able to withdraw that money without being suspicious.
If they want to do it by the right way, then they are going to pay a lot of taxes, and of course, it will take some time. But if they want to do it by the Black way, then it is just matter of hours in order to get those funds and sell them for cash to another company.
So I'm watching ICOs and they are getting few million dollars, which is cool. But what if they need some specific amount of real cash, for marketing or development, like 100k or more. Is it even possible to cash out?
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