Thank you all for your responses. My specific question was - what exchange allows such large transactions? I recently created an account with Coinbase and have a weekly limit of few hundred dollars. My credit rating is amazing and I can get a loan for pretty much any value at any given time.
I want to invest some of my savings but exchanges like Kraken and Coinbase are limiting that to tiny amounts.
Sorry, but as you can see, I am a newbie not to just this forum but also to crypto world.
I appreciate all the answers and help.
Topic: Large value transactions (Read 210 times)
What exactly do you mean?
You can send any amount of Bitcoin to another Bitcoin address, regardless of the value in USD.
If the lender accepted Bitcoin or that guy convinced him to, then after that it was pretty easy. He just sent them.
They don't give home equity loans in bitcoin, so the question is where did he buy the bitcoin with fiat in such a large amount. And probably no one but him and the counterparty know that. My guess is either an exchange that he was already verified at--and had an enormous buying limit--or a private transaction. You can send any amount of Bitcoin to another Bitcoin address, regardless of the value in USD.
If the lender accepted Bitcoin or that guy convinced him to, then after that it was pretty easy. He just sent them.
But who knows and who cares. This guy is insane for doing this IMO, and hopefully hehas some sort of exit strategy in mind. I didn't read anything about that guy, just what I read here on bitcointalk. These kinds of stories make my stomach spin and head churn.
Major BTC exchanges tend to have relatively high limits and the ability to raise those limits if you verify your identity very well and you contact them on the topic.
For example, GDAX accepts bank wires of $250,000. You can also withdraw $10,000 per day and you can request higher withdrawal limits if necessary using an authorisation form.
You could trade large amounts on Gemini as well.
Occasionally, people will sell OTC if they find it particularly difficult to use these sites for any reason. Especially the very rich people.
For example, GDAX accepts bank wires of $250,000. You can also withdraw $10,000 per day and you can request higher withdrawal limits if necessary using an authorisation form.
You could trade large amounts on Gemini as well.
Occasionally, people will sell OTC if they find it particularly difficult to use these sites for any reason. Especially the very rich people.
from what i have read, that family has been investing in bitcoin for a while now. they recently took a "fiat" loan on their house and bought more bitcoin with that money.
and you can use any legit exchanges such as GDAX to buy bitcoin, i believe some of them have limitations but if you buy it slowly and in steps that won't matter.
also you can always find someone to buy face to face. you just put up some add and find them.
and you can use any legit exchanges such as GDAX to buy bitcoin, i believe some of them have limitations but if you buy it slowly and in steps that won't matter.
also you can always find someone to buy face to face. you just put up some add and find them.
What exactly do you mean?
You can send any amount of Bitcoin to another Bitcoin address, regardless of the value in USD.
If the lender accepted Bitcoin or that guy convinced him to, then after that it was pretty easy. He just sent them.
You can send any amount of Bitcoin to another Bitcoin address, regardless of the value in USD.
If the lender accepted Bitcoin or that guy convinced him to, then after that it was pretty easy. He just sent them.
I just read about the man who took out a $325,000 equity loan on his house five months ago to buy Bitcoin.
Where could one make such large value transactions?
Where could one make such large value transactions?
Jump to: