Let's say you have a large amount of BTC and you - page 2.

Maslate

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Quote from: lalabotax on July 02, 2021, 07:49:59 PM

How is by cashing out small by a small amount of BTC?
However, P2P is the best way if you don't want the exchange track or know your transaction to your bank account. however, finally, you will need a bank account. Except that we want to use PayPal in order to make it cash out.
However, is it a matter of the banks know that we cash out a big amounts or several times cashing out?

That we only hope that the banks will never find this as a money-laundering scheme so they will not freeze our account later. And we just hope that they will understand our situation and maybe also we don't have to decline from them when asking some details in regards to huge transfer. Because for me, if we couldn't find the safest way to cash out my money, I'd rather have to choose to send my KYC. That will not a big deal for me and don't care about anonymity because sooner or later, we all have to provide it.

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How is by cashing out small by a small amount of BTC?
However, P2P is the best way if you don't want the exchange track or know your transaction to your bank account. however, finally, you will need a bank account. Except that we want to use PayPal in order to make it cash out.
However, is it a matter of the banks know that we cash out a big amounts or several times cashing out?

Distinctin

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Quote from: Fivestar4everMVP on July 02, 2021, 05:11:38 PM

If I were in this position of owning a large amount of bitcoins and want to sell them in a way no one or any bot will notice the movement and trigger an alert, I have two options which I can remember for now, and the first one is using a mixer to send the coin to an exchanger like binance or any other big exchangers, mixer will help mix my transaction hash as well as my address and amount of bitcoin being sent, this will make it almost impossible for any one to notice my transaction.
My second option is to create many crypto wallet and share my bitcoins amongst them, leave it there and after some time, like two to three months and after this time, I Will Start sending them to exchanges little by little and selling, this way, it will be difficult for anyone to trace the transaction to my main wallet where to the big money is.

There is no problem with the 2nd option but for the 1st one, that seems difficult especially when cryptocurrency is banned.

Being anonymous now is subject to be change as even Binance will ask KYC once you reach the high limit of deposited and withdrawal amounts. Sooner or later, the word anonymous will only be applicable for small players, not for rich people. But I never think it was a big problem that we need to worry about, maybe I think it is a sort of assets protection were to know who did the particular transactions.

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If I were in this position of owning a large amount of bitcoins and want to sell them in a way no one or any bot will notice the movement and trigger an alert, I have two options which I can remember for now, and the first one is using a mixer to send the coin to an exchanger like binance or any other big exchangers, mixer will help mix my transaction hash as well as my address and amount of bitcoin being sent, this will make it almost impossible for any one to notice my transaction.
My second option is to create many crypto wallet and share my bitcoins amongst them, leave it there and after some time, like two to three months and after this time, I Will Start sending them to exchanges little by little and selling, this way, it will be difficult for anyone to trace the transaction to my main wallet where to the big money is.

SFMHodler

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Do some research on mixers. Wink

darewaller

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Quote from: jaberwock on June 25, 2021, 12:28:11 AM

There are multiple options are available to protect your identity. You can simply choose decentralized exchanges or centralized exchanges which are never asking for KYC documents. One of the simple and effective way must be trading your bitcoins for fiat or altcoins with this forum members through escrow. This way you can stay anonymous forever still I bet you will get better rates for your bitcoins.

Firstly, if you have used decentralized exchanges you must know that fiat is not an option there and you can only convert your coins from one to another through a decentralized exchange.

I like your idea of exchanging your coins for fiat through a local seller at the forum but it does reveal your identity when you meet him in real life. Online escrow cannot help in real-life trades because how would the escrow know if the cash was transferred or there happened some conflict and both parties are claiming they did their part of the trade while one of them did not.

Quote from: jaberwock on June 25, 2021, 12:28:11 AM

I am just foreseeing the availability of crypto-loadable anonymous ATM cards which can serve your exact requirements. Some 4 to 6 years back which were easily available but right now both visa and master cards not providing such business.

There are ATM machines that allow the selling and buying of crypto but there are certain problems like availability, pricing and they are not suitable for transacting large amounts.

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Quote from: imstillthebest on June 21, 2021, 07:28:31 PM

you can hold your btc because holding it is equivalent to investing and you cant tracked by everyone because you havent made any transaction but spending and converting your btc to fiat is the hardest part because this two requires a transaction and you can be traced after .
why your scared anyway ? are you doing something illegal .

Holding is one thing but at some point you have to sell your coins, right? I know the price is not optimal for selling but even if after 5 years you want to sell them the question asked by OP is valid because there are not many ways you can sell your bitcoins without being traced at some point. And as far as shopping with bitcoin goes, that's not a realistic and practical approach to cashing your coins.

You asked, why is he afraid, is he doing something illegal? The answer might be that although he is not doing anything illegal, he just wants to remain anonymous similar to how so many people use mixers but not all of them are criminals, a lot of them are just making sure they are able to hide their identity for possible theft and avoid some criminal chasing you.

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Quote from: Vaculin on June 25, 2021, 06:35:03 AM

Quote from: isaac_clarke22 on June 25, 2021, 04:59:28 AM

Quote from: slaman29 on June 25, 2021, 04:00:49 AM

~

You're entirely entrusting your identity to groups of people that would not care if someone was willing to pay them for selling all of their user's info.
I am not saying that reputated exchange would do this anytime soon, but it is money on what businesses like these exchanges are after.

That he is right, he already gives trust to that particular exchange because he never saw a problem with them. He already found the credibility of that exchanges since he uses this several time and without any problem or even compromise his funds inside. I will do the same if that being required.
Maybe we could be doubtful to comply with KYC if the exchanger is new and it looks suspicious but as slaman29 said, he had proven it that was a reputable exchange and his decision is right.

All matters with personal inputs or views on various things because we do really differ on that because humans does have different mindset.If he does have that kind of impression then let it be

because we cant really force everyone to think up the same way too on what we do have also in mind.So its a personal choice and in regarding about actively make out conversions

then its a choice because people do accumulate bitcoin as much as they can and they wont really be wasting up their opportunity on doing so on just actively spending or making those
exchange to fiat.

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Quote from: Reatim on June 19, 2021, 07:46:32 AM

Quote from: boumalo on June 07, 2021, 03:23:58 PM

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

You reached legendary rank yet Knows nothing about using of Mixing company? wondering if that is your real account or not ..
even newbie knows what is mixers use for the whole community , and also it has been advertised here in the forum for long years now like Chipmixer company.

and of course using p2p will save you from KYC and stays anonymous .

Mixers are definitely an option to consider and can help get cleaner bitcoins, for large amounts, i understand there is still a risk of tracing.

Quote from: jaberwock on June 25, 2021, 12:28:11 AM

Quote from: boumalo on June 07, 2021, 03:23:58 PM

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

There are multiple options are available to protect your identity. You can simply choose decentralized exchanges or centralized exchanges which are never asking for KYC documents. One of the simple and effective way must be trading your bitcoins for fiat or altcoins with this forum members through escrow. This way you can stay anonymous forever still I bet you will get better rates for your bitcoins.

I am just foreseeing the availability of crypto-loadable anonymous ATM cards which can serve your exact requirements. Some 4 to 6 years back which were easily available but right now both visa and master cards not providing such business.

There are Bitcoin ATMs that allow to sell without KYC, you need a phone number and they take about a 10% fee but you have to change phone number when you have reached the maximum limit without KYC + change location to buy the SIM and get the cash if you don't want to be traced.

For 1000BTC it will take you years of going back and forth every single day.

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Quote from: jaberwock on June 25, 2021, 12:28:11 AM

I am just foreseeing the availability of crypto-loadable anonymous ATM cards which can serve your exact requirements. Some 4 to 6 years back which were easily available but right now both visa and master cards not providing such business.

After the boom of cryptocurrencies, both visa and master cards have stopped supporting anonymous ATM cards. Yes, I agree that such cards are highly useful for staying anonymous when cashing out cryptos. Still, these days there are lots of crypto loadable cards are available but you must need to clear KYC requirements. So, such cards are only for easy access and to convert crypto to fiats and NOT for staying anonymous.

Quote from: slaman29 on June 25, 2021, 04:00:49 AM

I actually don't mind giving out my KYC if I know I'm using the exchange for a very long time or if it's my only option to withdraw fiat but for as long as there are P2P options, I would delay that as long as possible.

Same here like I will not mind submitting my documents if those services are highly reputed and are running for long time but this may not be the case for what OP is looking for; because some people never prefer disclosing their documents even to their governments for protecting their privacy reasons.

Vaculin

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Quote from: isaac_clarke22 on June 25, 2021, 04:59:28 AM

Quote from: slaman29 on June 25, 2021, 04:00:49 AM

~

You're entirely entrusting your identity to groups of people that would not care if someone was willing to pay them for selling all of their user's info.
I am not saying that reputated exchange would do this anytime soon, but it is money on what businesses like these exchanges are after.

That he is right, he already gives trust to that particular exchange because he never saw a problem with them. He already found the credibility of that exchanges since he uses this several time and without any problem or even compromise his funds inside. I will do the same if that being required.
Maybe we could be doubtful to comply with KYC if the exchanger is new and it looks suspicious but as slaman29 said, he had proven it that was a reputable exchange and his decision is right.

isaac_clarke22

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Quote from: slaman29 on June 25, 2021, 04:00:49 AM

~

You're entirely entrusting your identity to groups of people that would not care if someone was willing to pay them for selling all of their user's info.
I am not saying that reputated exchange would do this anytime soon, but it is money on what businesses like these exchanges are after.

slaman29

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Quote from: jaberwock on June 25, 2021, 12:28:11 AM

There are multiple options are available to protect your identity. You can simply choose decentralized exchanges or centralized exchanges which are never asking for KYC documents. One of the simple and effective way must be trading your bitcoins for fiat or altcoins with this forum members through escrow. This way you can stay anonymous forever still I bet you will get better rates for your bitcoins.

I am just foreseeing the availability of crypto-loadable anonymous ATM cards which can serve your exact requirements. Some 4 to 6 years back which were easily available but right now both visa and master cards not providing such business.

I actually don't mind giving out my KYC if I know I'm using the exchange for a very long time or if it's my only option to withdraw fiat but for as long as there are P2P options, I would delay that as long as possible. Eventually, the game is all about getting in line with regulations and most exchanges will want to do that to survive in the long run. P2P is also just too complex for people (and if you use Localbitcoins anyway you have to KYC).

jaberwock

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Quote from: boumalo on June 07, 2021, 03:23:58 PM

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

There are multiple options are available to protect your identity. You can simply choose decentralized exchanges or centralized exchanges which are never asking for KYC documents. One of the simple and effective way must be trading your bitcoins for fiat or altcoins with this forum members through escrow. This way you can stay anonymous forever still I bet you will get better rates for your bitcoins.

I am just foreseeing the availability of crypto-loadable anonymous ATM cards which can serve your exact requirements. Some 4 to 6 years back which were easily available but right now both visa and master cards not providing such business.

Fatunad

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Quote from: boumalo on June 24, 2021, 06:29:46 PM

Quote from: imstillthebest on June 21, 2021, 07:28:31 PM

you can hold your btc because holding it is equivalent to investing and you cant tracked by everyone because you havent made any transaction but spending and converting your btc to fiat is the hardest part because this two requires a transaction and you can be traced after .
why your scared anyway ? are you doing something illegal .

Is was hypothetical.

Holding is a strategy but for a large amount and if you don't have other assets or cash flow, it's a good idea to diversify and enjoy life a little.

For people being in a space sub 1000$/BTC and having a large amount, >30K$ is a good price.

Talking about good price then this would be definite number and majority will really be aiming on the point on where they havent able to seen before.
We do have different mindset and goals when it comes to personal target specially on a very speculative asset and when it comes to spending then this will vary on each individual since there would be lots of factors that would mainly affect these kind of decisions that we do make out in life.
Some would be spending it actively and some would just opt in to hold it instead and spend a little amount that they do only need.
Its all about personal choice.

boumalo

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Quote from: imstillthebest on June 21, 2021, 07:28:31 PM

you can hold your btc because holding it is equivalent to investing and you cant tracked by everyone because you havent made any transaction but spending and converting your btc to fiat is the hardest part because this two requires a transaction and you can be traced after .
why your scared anyway ? are you doing something illegal .

Is was hypothetical.

Holding is a strategy but for a large amount and if you don't have other assets or cash flow, it's a good idea to diversify and enjoy life a little.

For people being in a space sub 1000$/BTC and having a large amount, >30K$ is a good price.

imstillthebest

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you can hold your btc because holding it is equivalent to investing and you cant tracked by everyone because you havent made any transaction but spending and converting your btc to fiat is the hardest part because this two requires a transaction and you can be traced after .
why your scared anyway ? are you doing something illegal .

goldade

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Just like many people before me already pointed out, the best way to keep your anonymity in converting bitcoin to fiat is to use bitcoin mixers.
The second best way I'd to use P2P. However, that would still require you to submit your details for payment and so it is only advisable if it is only used to transfer small amounts of bitcoin. Converting large amounts of bitcoin could cause you to be flagged by your bank.

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Quote from: boumalo on June 07, 2021, 03:23:58 PM

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

In that case it would become a part to Fiat, another party would put it in Mono, and I would buy real estate in Dubai and Switzerland, for being the safest countries, even in possible Swiss wars is usually the safest, if you have investment there the money would be Much more sheltered safely, it would also allocate another part for gold investment. For the handling of not being traceable there are many methods, the most reckless would be through the DeepWeb and the other would be wearing mixers and creating many wallets to despire, Each Wallet would have a BTC fraction because it would not be good to get out of all the BTC because it would not be good to miss the movement when I arrive at $ 288k, and it would possibly live quietly with my family being happy.

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Quote from: Hypnosis00 on June 19, 2021, 03:06:30 AM

We have no escaped from this. This a problem that we are about to face in the future once KYC is mandatory no matter how much it is.
To tell you that, we are closely losing the word anonymous in crypto. Some banks are already asking for our source of income before we send it to them otherwise, they will freeze it if we fail to provide information. Exchanges are doing as well when we surpass the limitation.

The best option for you to do is convert it is fiat in small chunks so maybe it finds unnoticed. Or you use P2P service if you are not afraid of scam risk.

KYC is now mandatory for every centralized exchanges before you can start trading on their platform. The only one that I know that doesn’t do full KYC is Binance, but your trading will be limited and at a time you will be forced to do your full KYC to have access to unlimited trading. So they are now doing mandatory KYC.

Not everyone is au fait with how decentralized exchanges or P2P works, so they tend to choose the centralized ones because of how easy they are. But in a case like this, P2P will be the best option. And moreover there isn’t much risk these days on P2P, because you can still find trusted buyers and sellers by filtering the options you have and setting your own requirements. You can do that on Binance P2P, and even LocalBitcoin, and Paxful.

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