Trying to find advice and info about selling BTC - page 2.

Ben Barubal

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Quote from: Doan9269 on November 03, 2023, 05:50:59 AM

Quote from: ritenhouse on November 02, 2023, 12:57:10 PM

Hello, I am trying to figure out a good reputable place or platforms to look for a buyer/buyers for a very large amount of bitcoin.
Basically, I have a holder of Bitcoin wanting to sell. They have roughly 392,000 BTC, and invested very early and held on to it.
Any advice or recommendations would be very much appreciated.

This doesn't seems believing that you have that kind of bitcoin and yet don't know how to sell it, if i may ask this then that how did you acquire such, if you buy through a particular means then why not go through same to sell your bitcoin, there are exchages, there are people trusted who perform an escrow service, incase you don't want to use an exchange, so it's up to you first, that what exactly is it that you want, are you trying to avoid the exchanges or make use of the escrow service providers if you are privacy minded.

Honestly, that's what I'm thinking too; he got to buy a lot of bitcoin, and yet he doesn't know how to sell it. It's weird that his question seems silly in my opinion too. It's very simple, and there are many ways to sell Bitcoin.

Google is there to provide guidelines on how to sell bitcoin. Then it also makes me think that 392 000 bitcoins is a huge amount; that is not a joke amount, and I don't know if this op is telling the truth on this topic he made. It was as unrealistic as it used to be for me, like it was just a made-up story to talk about.

TelolettOm

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Quote from: ritenhouse on November 02, 2023, 03:14:36 PM

@Terrific My boss had a business friend approach the company looking for assistance (he's a broker who knows the holder). my boss said he would try and help, so he verified everything himself. We are a business acquisition company normally but i don't know anyone who would say no to a commission of that size, so we are trying to help find a buyer/buyers. but none of the others are familiar with crypto and ive dabbled in it a little with Ethereum, and i would like a cut of the commission as well.

I almost couldn't believe it and thought if this was just a fabrication when I read your initial thread, and when there was this explanation, I just thought, this could be true. So, good luck and hopefully you can really find a platform that is suitable and can be used for that amount of BTC in your country. BTW, because you are posting in this forum thread, make sure you are careful about various offers from certain accounts or parties on behalf of certain platforms or media who want to help you cash out. because if there is something new with something like this, it could become a target for scammers or hackers. So, be more careful and don't trust anyone who contacts you first, offers help to cash out easily, etc. be careful.

Quote from: ritenhouse on November 02, 2023, 03:14:36 PM

i am contacting coinbase to see about trying your method. i was told there would be a significant loss during all the transactions it would take to cash it all out, and it would take years with the small amounts your able to cash out daily.

Maybe this is related to transaction fees / trading fees, and also taxes if any. Because the amount is large, the fees and taxes will also be very large. Especially if you want to cash out that much, it will definitely take a long time. Not only from a Coinbase account to a user's bank account. but also from a bank account to cash out, right? It is possible that later they will carry out an audit of the money received in the account. But maybe this is just my opinion and maybe it's different in your country.

Johnyz

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Quote from: ritenhouse on November 02, 2023, 12:57:10 PM

Hello, I am trying to figure out a good reputable place or platforms to look for a buyer/buyers for a very large amount of bitcoin.
Basically, I have a holder of Bitcoin wanting to sell. They have roughly 392,000 BTC, and invested very early and held on to it.
Any advice or recommendations would be very much appreciated.
If this goes against any rules on here please let me know and I will remove it. Thank you.

That’s a lot of money and could crash the market if ever, but if this is a serious question then I think big institutions or P2P is the best option here and you should look for the legit one to avoid any inconvenience. Don’t use any exchanges if you’ll not sell it on a small portion because you can be flagged and you might not access it anymore, look for the best option in your area.

Jegileman

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Quote from: ritenhouse on November 02, 2023, 12:57:10 PM

Hello, I am trying to figure out a good reputable place or platforms to look for a buyer/buyers for a very large amount of bitcoin.
Basically, I have a holder of Bitcoin wanting to sell. They have roughly 392,000 BTC, and invested very early and held on to it.
Any advice or recommendations would be very much appreciated.
If this goes against any rules on here please let me know and I will remove it. Thank you.

392000 BTC is such a huge amount of bitcoin that you can claim you own without anyone not believing in you. But what is more strange is the fact that you’re asking how to buy/sell bitcoin when you have large amounts of it in your holdings. What have you been doing since you got those bitcoins, you never learned about all this all this years. For a newbie who just bought bitcoin, this question will be easy for them to answer since they must have bought through a platform or a vendor (which is highly risky). Your claim sounds too good be true but I can’t dispute that without proper evidence.

Nrcewker

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Quote from: ritenhouse on November 02, 2023, 12:57:10 PM

Hello, I am trying to figure out a good reputable place or platforms to look for a buyer/buyers for a very large amount of bitcoin.
Basically, I have a holder of Bitcoin wanting to sell. They have roughly 392,000 BTC, and invested very early and held on to it.
Any advice or recommendations would be very much appreciated.
If this goes against any rules on here please let me know and I will remove it. Thank you.

I will suggest to trade and sell safely the coins on Binance. Yes you have to do high level of verification in order to sell those big number of coins. But it will be worth doing it. Binance is the most secured and trusted exchange available on the crypto space. But if you want to hide your identity and want to do trade with peers, then you can try famous P2P exchange, Paxful. Yes, here you need to be extra careful and sell the Bitcoins in small amounts.

HONDACD125

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Quote from: ritenhouse on November 02, 2023, 12:57:10 PM

Hello, I am trying to figure out a good reputable place or platforms to look for a buyer/buyers for a very large amount of bitcoin.
Basically, I have a holder of Bitcoin wanting to sell. They have roughly 392,000 BTC, and invested very early and held on to it.
Any advice or recommendations would be very much appreciated.
If this goes against any rules on here please let me know and I will remove it. Thank you.

First of all, I don't think any single person can have a large amount of Bitcoin, and if someone has it, why didn't he sell it when the price of Bitcoin reached $67,000 instead of selling it now? It is not possible for someone to have such a large amount of Bitcoin, and the price of Bitcoin to drop, and then think of selling them. It is also funny that such a large amount holder does not know how to sell Bitcoin in the right place, and he tell others how to find a suitable place.

If he doesn't know about a proper place or platform, then where did he get such a large amount of Bitcoin and where did he transact it? most importantly, how can someone who doesn't know how to sell Bitcoin store such a large amount of Bitcoin so easily? because the most important thing in crypto currency is to protect your assets. If he's made the buying in the beginning, everything going well so far suggests he understands everything.

dimonstration

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Quote from: ritenhouse on November 02, 2023, 12:57:10 PM

Hello, I am trying to figure out a good reputable place or platforms to look for a buyer/buyers for a very large amount of bitcoin.
Basically, I have a holder of Bitcoin wanting to sell. They have roughly 392,000 BTC, and invested very early and held on to it.
Any advice or recommendations would be very much appreciated.
If this goes against any rules on here please let me know and I will remove it. Thank you.

Probably your seller is the one of those scammer claiming they are selling Bitcoin in bulk with discount and doing the trade on a casino vip room or something. This kind of scheme become popular in my country before and I’m wondering how this guy with bulk Bitcoin that invest earlier can’t use exchange and cash out slowly. I mean when he will put that huge money after he converted his Bitcoin to fiat while banks has a limited insured amount.

If he is really thinking straight. His money is much safer in Bitcoin and just slowly convert to fiat whatever amount he needs instead of selling it in bulk assuming that he just recently recover the fund.

Doan9269

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Quote from: ritenhouse on November 02, 2023, 12:57:10 PM

Hello, I am trying to figure out a good reputable place or platforms to look for a buyer/buyers for a very large amount of bitcoin.
Basically, I have a holder of Bitcoin wanting to sell. They have roughly 392,000 BTC, and invested very early and held on to it.
Any advice or recommendations would be very much appreciated.

This doesn't seems believing that you have that kind of bitcoin and yet don't know how to sell it, if i may ask this then that how did you acquire such, if you buy through a particular means then why not go through same to sell your bitcoin, there are exchages, there are people trusted who perform an escrow service, incase you don't want to use an exchange, so it's up to you first, that what exactly is it that you want, are you trying to avoid the exchanges or make use of the escrow service providers if you are privacy minded.

slaman29

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Funny reading most of the comments. People who hold a lot of Bitcoin know about OTC, and they won't be finding out things with OP's account n this forum, and will not even say the exact amount.

Much easier to just KYC at some actually registered big exchange like Coinbase (I bet the people are US/UK). Use their OTC service. Pay taxes.

392k is a small amount for these big OTCs who anyway pool the sales.

dzungmobile

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You can take profit when others are greed and by this approach, you can use two charts.

https://www.lookintobitcoin.com/charts/relative-unrealized-profit--loss/
https://www.lookintobitcoin.com/charts/bitcoin-fear-and-greed-index/

When those charts show most of people are greed, FOMO, you will have good opportunities to taken profit. It won't help you to take profit at all time high, top but you will not miss chances to gain profit.

But what, 392k BTC. Seriously, who have it?

jrrsparkles

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OTC platforms are the place where you can generally sell BTC in bulk amounts but I am not sure even that platform can handle 392KBTC. Cheesy

If you are really serious about selling such amount then break into multiple small amounts like 500BTC for a day and choose the exchange where there is enough liquidity for example Binance and get verified before depositing funds and be ready tp pay taxes after converting into fiat.

Yamane_Keto

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If we review the Bitcoin investors with 392k Bitcoins, we will find that their number is limited. if your friend creates a cryptocurrency exchange with about 5k Bitcoins, you will definitely be among the top 3 crypto in less than 24 hours.
Can your friend sign a message from bitcoin address with balance of 1k Bitcoin or at least buy a VIP account which will cost you only 50 Bitcoins.

rat03gopoh

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Assuming this is serious, you just need to look for an OTC trading broker. You know if it's a large amount, then you need to look for some. European and middle eastern states like the UAE and there seem to be a few markets that have ample liquidity to handle most of them.
Or in another way, just open your own CEX that only serves sales to users all over the world.

ritenhouse

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hmmm some good points by you guys. now I have not verified the wallet myself so you guys are making me worried its somehow not real. but my boss said its verified and legal documentation in place, lawyers etc. but now i wonder why would'nt the holder just have a way to do this himself or privately? hmm. but hopefully its real lol.

Silberman

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Quote from: ritenhouse on November 02, 2023, 12:57:10 PM

Hello, I am trying to figure out a good reputable place or platforms to look for a buyer/buyers for a very large amount of bitcoin.
Basically, I have a holder of Bitcoin wanting to sell. They have roughly 392,000 BTC, and invested very early and held on to it.
Any advice or recommendations would be very much appreciated.
If this goes against any rules on here please let me know and I will remove it. Thank you.

You are trolling us or you are the one being played, there is no other way around it, no one with the exception of Satoshi and maybe a few whales have that amount of bitcoin, and if they wanted to sell some of those coins you can be sure they will be able to hire the best lawyers, accountants and any other services they may like or need for a fee way cheaper than the 10% you were promised, so if you are not trying to scam us then you are the one that could be scammed.

salad daging

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I'm not so sure about this story although some people took it seriously to give advice and solutions.

If it's you or a company, they must have a way to sell it at least with such a large amount in bitcoin you should have a financial advisor because paying them will not be much, so the financial advisor will know better than us.

Yes even though I still this is a made up story.

goaldigger

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That’s a lot of money and if this is for real, why bothering to ask here when in fact you should already know where to sell since you’re an early investor here and know what’s the best for that money. Exchanges might be the option but better not to transact everything in an instant, P2P is also good. Mind to share at least the country so we can know what services is available on that area?

Dr.Bitcoin_Strange

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Well, OP, it is quite hard to believe this story because if you have 392,000 BTC, I doubt you will actually come here to announce the sum of Bitcoin in your possession or of anyone you know.

Let's assume your story is true and the Bitcoin is not in a wallet that has not been flagged. The advice I will give is: sell those coins in small fractions, and while you do so, don't deposit in an exchange that requires you to pass KYC. You can deposit small fraction in a non-KYC exchange, convert to Fiat, and withdraw to your faith wallet. Then you can deposit the Fiat in another exchange where you can trade it to your bank account.

terrific

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Quote from: ritenhouse on November 02, 2023, 03:14:36 PM

@Terrific My boss had a business friend approach the company looking for assistance (he's a broker who knows the holder). my boss said he would try and help, so he verified everything himself. We are a business acquisition company normally but i don't know anyone who would say no to a commission of that size, so we are trying to help find a buyer/buyers. but none of the others are familiar with crypto and ive dabbled in it a little with Ethereum, and i would like a cut of the commission as well.

I understand, that's a decent chunk if ever the sale becomes successful.

Quote from: ritenhouse on November 02, 2023, 03:24:59 PM

i am contacting coinbase to see about trying your method. i was told there would be a significant loss during all the transactions it would take to cash it all out, and it would take years with the small amounts your able to cash out daily. but hopefully we can work with coinbase to get it done more quickly and the seller can get at least some money starting to roll in. im assuming taxes are going to be a nightmare though.

Good luck, and that's normal to have some losses you'd say because of the taxes that you're obliged to do so and the fees that will be taken from there. I have no experience with selling bulks and how the process go but for small sales that I have made, the fees aren't really a problem at all.

ritenhouse

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i am contacting coinbase to see about trying your method. i was told there would be a significant loss during all the transactions it would take to cash it all out, and it would take years with the small amounts your able to cash out daily. but hopefully we can work with coinbase to get it done more quickly and the seller can get at least some money starting to roll in. im assuming taxes are going to be a nightmare though.

Topic: Trying to find advice and info about selling BTC - page 2. (Read 294 times)