Topic: Whats the best and safest way to convert Large Sums of Bitcoins into Dollars and (Read 173 times)
March 06, 2020, 08:12:53 PM
Through brokers. I have some friends who are selling large sums of bitcoin with the help of brokers. OTC is the best option if we are talking about millions of dollars in order for you and your money to be safe. Don't gamble your money trying to sell at wallets like coinbase or any exchange site just go look for a broker and he'll do everything for you.
March 06, 2020, 07:40:45 PM
It's not that hard to do on exchanges with high liquidity like Coinbase, Binance, Bitstamp, and safer than meeting with someone and waiting for them to wire money to your account while you both wait for a confirmation on the blockchain.
What large sums are you talking about? 500 thousand? 1 million dollars? 2 million? It you're talking about 100 BTC or less don't overthink it. Exchanges are used to this and you'll just dump it into a wall. If you have more than 1000 you're best trading OTC or splitting it into small parts and selling on more than 1 exchange.
What large sums are you talking about? 500 thousand? 1 million dollars? 2 million? It you're talking about 100 BTC or less don't overthink it. Exchanges are used to this and you'll just dump it into a wall. If you have more than 1000 you're best trading OTC or splitting it into small parts and selling on more than 1 exchange.
March 06, 2020, 07:19:33 PM
Contact an OTC broker. They will have clients waiting to buy large amounts and they will match you to them. If everyone's happy with the price then the sale proceeds. If it's a truly large amount I would not risk it on an exchange. You'll have slippage and the exchange might freak out and freeze you. Neither is an issue with a proper OTC broker.
Genesis Trading is one, Kraken now have a dedicated OTC operation and there are others like Itbit and a few more. Do not mistake P2P for OTC.
Genesis Trading is one, Kraken now have a dedicated OTC operation and there are others like Itbit and a few more. Do not mistake P2P for OTC.
March 06, 2020, 06:44:30 PM
Whats the best and safest way to convert Large Sums of Bitcoins into Dollars and transfer it into my bank account in the shortest amount of time ?
Thank You
Thank You
I have friend who is a whale, once saw him selling about €1,500,000 on Kraken but it was annoying as fuck. I didn't see the whole process but I remember him coming back and selling in smaller amounts, he also called his bank in advance saying he'd be depositing large amounts of money in his account.
Not sure if it's the best way but it's the largest sell I've seen, also this was back in 2017.
March 06, 2020, 06:40:36 PM
Whats the best and safest way to convert Large Sums of Bitcoins into Dollars and transfer it into my bank account in the shortest amount of time ?
Thank You
Thank You
Jump to: