Bitcoin Forum

How does some one go about cashing out 5 million dollars worth of bitcoin?

IS there a trust worthy exchange that doesn't have low limits.. and high fees?

Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.


Does anyone have any experience cashing out large amounts that does not take a year to do?

thanks

.09% of 1 million is $900 not $9000.

I think .9 % fee is not a lot, are you kidding me? You take that 1 million and put it in any low risk fund and you can get 5% return easily. You are worried about 1% basically lol

If ur a millionaire why worry. You got dis bruh, do it big

Just make sure you pay your taxes tho. Don't try to hide the money if ur in any western country

They will find it

I plan to pay my taxes.

My advice would be to ignore the fee. Just use a reliable exchange such as Bitstamp or Btc-e. While trying to save 0.1% or 0.2% of the total amount, you may be putting the entire capital in risk. 5 million USD worth of BTC is quite a huge amount. If I were in your place, I would be willing to pay even 1% fee, provided my coins are traded safely.

Thanks for that, bitstamp is looking like the winner then.

0.09% of 1 million would be 900 USD and not 9k USD. So the amount is not high to that person who is cashing out such a huge amount. 900 USd fees is simply nothing compared to a million dollar. Even though I have never accumulated such a high amount, I believe it will be wise not to cash out in a single go. It would attract a lot of heat if the person is cashing out to any bank account.

IT is always advisable to cash out in bits and parts or a fixed monthly amount. It would not raise a security alarm to the regulators and the person must include that earning to the tax statement to be safe. Because what's the use of a million dollar if he spend the rest of his life in jail?

No idea how you would be able to do that best and my only potential idea for doing something like this is use multiple exchanges and move small amounts to each exchange and work on cashing out that way. Beyond that, I don't really know who you'd be able to sell to.
I'd just take the time and the fees. It's $5M, even if you lose $20,000 in fees (or more) you're not going to be hurting. You can retire at that point and have a good life, unless you're trying to pinch every penny.

Really, i don't have that experience of Cashing out a large amounts of bitcoins. My limit is 1k$ which it's too easy by using some exchanging site or by sell it to someone who trust and who know very well. But with a high amount of bitcoin, you should search for big campaign to do that. I don't have any idea who can do that.

I'd not withdraw that lot of money at once if I were you.

Distribute the money into like four phases, and simply use an exchange like localbitcoins.com.

Surely people receive millions into their bank accounts daily.. and if your paying your taxes whats the problem?

 ???

I thought someone will pop up and confirm that they had send million into their bank account by selling bitcoin,as it looks like no one has done that yet or is the millionaire club waiting for more price rallies to sell their coins. :D I did use local exchanges and the maximum withdrawal i made is six bitcoins. :)

Yea I wouldn't cash it all out at once. I'd rather do it in batches (x amount of bitcoin per week). You might even catch another spike in the bitcoin price.

No problem. Just need the bitcoins to sell.

Good luck  :)

Don't use bitstamp because they are known to have pretty stringent AML regulations. So unless you can be sure that your funds are 100% clean try to really avoid any type of centralised exchange.

I personally prefer trading p2p on platforms such as localbitcoins and paxful. There are traders out there that have the sort of volume to handle large requests like yours. You get a lot more anonymity this way and don't need to worry about your funds being frozen on an exchange.

Don't use btc-e because their exchange rates are generally lower and to get the actual funds you need to pay a lot more fees. Kraken or bitstamp or p2p. Up to you.

I don't eben know what would made me cash out that amount at once considering the various financial regulations here and there. Over here, I cannot even try because I cannot even access it without giving several details and stressful explanation that amount is too large not to attract attention even in the banking system that  will just automatically block the account until convincing explanations are obtained. Just do it gradually to avoid the stress.

   I`m far from cashing out large amounts of bitcoin, I plan to have some in the future, and this is a good question, most trustful exchange for
cashing out big amounts is probably the best for cashing out small one`s. I`m not sure am I right but the best exchange for cashing out must
be the best exchange for trading with other types of coins? Or I`m wrong?

  

If you want to cash out millions of bucks you should check the rules of that exchange so that you will be guided accordingly. Here in my country we've been using a local exchange and transfer to bank is even free but just show them proper documents that they wish to see for verification.

You can expect that any exchange will freeze your withdrawal to do a due diligence, as such large withdrawal from newly created account will trigger all kind of red flags.

So apart from fees, it's a matter of how smooth is the verification process and how fast/experienced is the staff in dealing with such issues.

It's best to simply get in touch with the exchange support, tell them what do you intend to do and ask what should you expect. You should do the same with your bank.

I'd also consider splitting the amount into smaller tranches and possibly between 2-3 exchanges.

Ps. Stay away from btc-e. They're shady as fuck (https://bitcointalk.org/index.php?topic=1739698.0). See their trust rating: https://bitcointalk.org/index.php?action=trust;u=33012

The problem is you will not be able to withdraw your amount trough an exchange site. Better to split your money into some parts and try various exchange site to withdraw your money. But it may take more time to go.
In another case, if that makes less on your own risk. I think every exchange site has a tier or daily limit.

That's still a ridiculously expensive transaction fee though. If I want to sell $5,000,000 of some stock through my brokerage then it is $4.95. Doesn't matter how large the transaction is. Bitcoin needs an exchange that works with flat fees because percent-based fees are detrimental to trading significant amounts of money. It is good if you are trading like $100 at a time, but most people want to make much larger transactions than that.

Go to a regulated exchange that is trusted. Don't do anything stupid like trying to avoid taxes. If you want to cash out that much, make sure you give them all of your details. Pretty sure there are exchanges out there ready to let you cash out millions without problems.

Of course, make sure your bank will not freeze your account. Let them count in before hand. They may flip out if they see a +5,000,000 transaction!

That is a very large amount to cash out at once. I see most exchanges giving you problems unless you cash out in smaller amounts. Of coarse that will take much longer.

$9,000 in fees are just a very very small amount if you will go and cashout 5 million dollars in bitcoins,its just like tax the smaller version of governments tax on our salaries.If you dont want to get fees then sell it to other user personally no fees but no person will buy your 5million dollars on bitcoin at one time

Coinbase limits you to 100,000/week.

Use a well known, regulated exchange. Cash out, say, 10% at a time so if something goes wrong, you aren't completely screwed.

If you are in the US and are concerned about taxes, are they short term or long term gains? (< 1 year or >= 1 year?). If long term, they are then 15-20% depending on your bracket.  If they are short term, how close are you to a year because it can save a lot. If you bought July of 2016, you are nearly there. (And, what is your basis?)

At 20% that is $1 million.  Have you talked to an accountant about things like splitting across tax years?  How have you titled them? E.g., perhaps you held some for kids or grandkids (perhaps in trust) who you intend to leave money to in several decades?

Have you considered some of Puerto Rico's tax benefits for US citizens? Again, best talk to an accountant who is familiar with it, but perhaps it could save a lot in taxes.

Edit: and don't forget, they could decrease, depending on Congress and the President.

And if you are truly cashing out that much, think about talking to an asset protection attonery who can combine it with an estate plan so that if you become a target of a lawsuit - e.g. car wreck, slip and fall on your property etc - you will be able to protect at least some of your wealth. A domestic (US) asset protection trust or off-shore (e.g. Cook Islands etc) are options, but a non-triggered US trust is probably the best.  

With that kind of cash, it is easy to be a target, so (a) don't discuss it with a lot of people and (b) take some steps to protect it from vultures.

And of course there are the guys who might try to get your pregnant if your are female or get pregnant by you if you are male...

Would an exchange such as bittrex be more better suited to do this for him without as much of a stringent process to get your bitcoin cashed out to fiat?

Any experience with them before?

If so, what are their levels of verification so to be steered in the clear of any delays and they possibly freezing funds in your account like what those exchanges in China did by the government officials requests.

I love trading bitcoin much more better than holding it just for the fact that I do not see how I will cash out when bitcoins worth 1 million. I will have to rely solely on withdraw from the exchangers.

It is possible but such a high transaction is bound to bring attention and you will need to verify your identity and how you earned those coins, since we are talking about such a huge sum of money that is one case where being willing to lose some anonymity is fine, just don’t try to cash out all of that money at once, try to withdrawal 100k at first and keep doing that until you withdraw the 5 million.

What are you talking about,what kind of tax and who do you think is charging all those. :P .09% of 1 million is $900 and OP made a mess with the calculation.The problem is that you are not able to withdraw or cash out this huge amount at a single exchange at a given time because there are restrictions in place on whether how much amount you can withdraw every day and it might take a long time to cash out all your amount despite saying that check out kraken,i think you could cash out everything with that exchange,just talk to their customer support and make sure what all documents are  needed to get things verified .

I think you are joking , because 0.09% is not a big fees and secondly you are making cashout of your Bitcoin in bank money so you should think that the amount of 9000$ is not a big amount of fee according to your total 1 million dollars .
Here I will suggest you to sell at different different exchange and with controlled amount , since here I already read that you are saying it should not take one year to do so .
If you are really having problem to spend 9000$ then I will suggest you to wait one month and left it until the price get up , if the price of the Bitcoin will rise only 0.1% then you will recover easily your fee of 9000$ .
So wait until your mentility get changed for the fee .
Beside of this idea , I will suggest you to sell in offline , I mean make direct deal in the cash .
If you want make.offline hand to hand deal then I can help you in my country India .

That is actually a not so big amount if we are talking about exchangers...am sure they can handle that well and of course the best thing to do is not to encash it one time and not to use just one service provider. There are so many ways to do it. Goodluck then if you have that amount.

I always do it, I just cash out everytime the bitcoin were gets the large amount. However for now I just save my bitcoin and wait for the big increasing of price in the market. I do it because I was expecting that their price were continue to increase.

What about also opening an account with PAYZA? They are used to handling tons of money because many online peeps use it, especially all those online MLM GURUS and now they have a bitcoin wallet as well. They even have a debit card as well and you can take out also straight t your bank, takes a few days, that might work with some of it.  :). Also a bit congratulations on your earnings and I hope you don't get a ton of beggars harassing you in pms and social media..  :)

How would you explain to your bank or your tax administration where does the money come from? In lots of countries, there re strong AML laws where people start asking lots of questions in order to make sure your money did not come from illegal sources.

There are some users i think that already cashed out that huge amount and already done that big transactions in different exchange available now in the online market.That thousand dollar fee are just small compared with your money so dont mind that fees

1 million is very much, they don't want to get a small fee for that much money they have to provide to you, it's very difficult to change the money from virtual to be made real money especially with that much money.

I prefer this kind of strategy also, slowly cashing it out. Though its time consuming but its worth it in my opinion. What if you got a mistake on first transaction? then all btc is gone? :) One time big time transaction will get notice to exchange too.

The people suggesting exchanges or localbitcoin are nuts. You need professionals who aren't gonna panic or kyc your ass. I wouldn't depend on bitstamp not to shut me down over $20000 let alone millions.

Find an OTC buyer via a broker like Cumberland mining or talk to Gemini about their daily auction.

I registered with bittrex only recently to ride the shitcoins pump & dumps. I haven't even made a crypto withdrawal yet, not to mention fiat withdrawals, so I wouldn't know.


He could tell the truth? Why would you assume there's something wrong with the legality of how he got his bitcoins. For all we know he could got in early or be a successful trader.

the problem isn't the bank, it's the bank's fear of breaching regulations. in most cases it's less trouble for them to close your account than try and explain or justify it to the government upstairs.

I think it is very difficult to make such a transaction without being detected, you can be discovered by anyone when you sell bitcoin and receive large sums of money into your bank account.

Yep this makes perfect sense.

Every result I ever get from my bitcoin will monetize her gara know how much I've got.

In cashing out large amount of bitcoins you need to be on guard because money is not a jole and it is hard to get. So when you are about to withdraw bitcoin you need to be alert on the robbers around.

There is nothing wrong if you want to cash out a big amount.  The problem is do your exchange site or banks would allow it.  I mean because it is a big one maybe it would take time.  Or maybe it will be staggard since they are dealing with a huge amount.  And maybe then they would think of something to have atleast a benefit of that.  Maybe putting some tax on it.  Wait for the transaction fee, maybe it is also huge.

Cash your money out over several weeks (or even months).

Each day transfer at most 10 BTC to the exchange, sell it and transfer the amount to your bank account.

So if the exchange decides to freeze your account there is a maximum of these 10 BTC lost.

Of course also contact your bank to tell them what you are doing.

The other plus for this way is, you sell at an average price over the coming weeks and don't risk to selling at a low point.

You can do with selling on lot of exchanges and withdrawing them on several accounts like all of your family members account you can create and sell on their account and then you can withdraw it so like this you can also show the income in all your family accounts and you can decrease the tax expense on the sold bitcoins.

Why are you interested in this? Does it have any effect on you? And who are you Are you one of them? I do not know why you are curious about what IS did.

Be carefull... Banks could freeze the money once it lands if you cannot account for it some banks in the UK have started closing accounts of people using bitcoin exchanges.

My advice would be to seek advice first from your exchange and also make your bank aware of the large deposits arriving and possibly break down the transactions into smaller amounts 5 million is a lot to send in one go the risk is huge. breaking it down into multiple 100,000 payments makes more sense.

Also, speak with the exchange in person or on the phone before you do this too.

Enjoy your bit fortune!

I don't think bitcoin is ripe enough to cash out that amount of money out at  time even in the bank using fiat that amount of money would not go unnoticed and a good explanation will be needed to even have access to the funds afterwards. And now in the case of bitcoin where large amount of the people involved will believe its either a crime proceeds  or even money to finance terrorism. Gradual withdrawal is the best thing for now.

nothing's illegal, but there are countless cases of people being shut down despite everything being totally above board. blame all the endless money laundering laws.

as anyone here should know as soon as your crypto becomes fiat you no longer have any control of it.

As present price almost reach the 3000$, we can hold the bitcoin for some months and make the profit with that. If you wish to take out the cash from the bitcoins, best option is using trading platform. Which gives higher amount more than a Coindesk price index.

I agree. Surely if you had that amount of crypto why make it all fiat?  also as he said once its out the wallet and in the banking system who knows what money laws might turn up and bite you.

It's happened many times before!

It was more of a hypothetical amount. I plan to take out smaller chunks.

I find this all very uneasing, if you make a large fortune in this industry you have a hard time using it. What a joke.

I'd suggest you try & speak privately to a large bitcoin companies CEO to try & set up an OTC trade or something. Use Skype or something to try & discuss at length, you'll probably need to sell at some kind of discount considering it's such a large quantity.

Be careful though, you need to check anybody you deal with is very trustworthy.

Well you are lucky because your question is not even a problem in the first place. There are local wallets available in several countries in which they offer direct cash outs from their app wallet. All you have to do is plug in your bank account # so that they know who will they send the Fiat currency at. Aside from banks they offer Money Remittances and Cardless ATM withdrawals. Now it varies from each local wallet provider but it will have a similar transaction.

If you're in desperate need of that large amount,you shouldn't worry about the fees,safety first
Use the most big and trusted exchanger,do your research first before you facing any problem

This is a tough question really

Even if you think that your money is clean (wtf, even if it is in fact as clean as a new pin), you'd better not hope that you won't have any issues. As the others have already said, cash out in small amounts and always remember better be safe than sorry. In other words, avoid being asked questions even if you have all the answers. Someone may not like you or just be overly envious. To think bad of people is a sin but rarely a mistake

no reason to do it all at once, i think. and if you're concerned about it at all, you could do things slowly, but relatively simply. buy things, real, actual things. amazon or whatever. big, expensive stuff that's small and valuable. art, high end electronics, etc. then sell THAT for fiat.

it'd effectively become a full time job to do it, but it'd work. in theory you'd avoid some of the bank level chaos. i mean, you're still not doing anything illegal. you're still paying taxes on everything, of course.

payza is rebranded when they were called something else a few years ago.

If so, then they are trusted being around for so long.

Didn't know they offer a debit card , which can be very useful if they have a bitcoin wallet attached to their payza funds allowing seemless transferring exchanges between. But at a fee ofcourse. But even 1% is worth it if doing the maximum limits allowed.

Cashing out large sum of bitcoins is possible with the localbitcoins trading platform. This is possible with the traders who provide the real face to face dealing and exchange of cash. Other than this traders has got limitations in the online bank transfer just because of the taxation and bank limitations.

I would rather not suggest for you to withdraw the whole amount in a single go ,that too when your 5 million$ is at stake,make the withdrawal amount in smaller parts and don't worry about the fees ,the fees is not the type of amount you have to worry about ,instead concentrate on the five million $ that you have to cash out.

I advise against doing anything in your home country if you have one. You don't need to pay tax to anyone. If you're in Europe, or willing to travel to Europe, and unless you're an American citizen (FATCA), I can help you (not for free, though) to move that money into a safe bank account.

But why cashing out that much? What do you plan to do with that money? Whatever you'd like to buy, it's worth trying to buy it with BTC.

if you cash out millions, such small fee should be a no big deal, isn't it.

My advice is to look site which have bigger trust and which have lower fee.Look on both thing is smarter because we wlll then not be scammer and also we will save own money,I prefer YoBit.

It seems OP is looking to do things completely legally, is not wanting to hide anything and is not trying to avoid paying taxes. If I were in OP's shoes, I would hire a tax lawyer and a certified accountant. It may well be worth it given the amounts being talked about here. Better to make sure all your i's are dotted and t's crossed as far as legally covering your ass. If all the required documentation and paperwork and whatever other hoops that will be required for you to jump through are cleared and in order, your chances of getting screwed are lessened. A tax lawyer experienced in dealing with moving money out of exchanges and a certified accountant should ensure you're covered.

Among other things, they would be able to discern if the exchange (or bank) is trying to slow-roll/impede your withdrawal and can take appropriate action on your behalf. That's what I would do if I had that amount of money that I wanted to cash out of an exchange.

Yes. Bitstamp is one of the more reliable exchanges out there, and the fiat withdrawals are fast and trustworthy. If I am not wrong, they have never been hacked, and they operate with all the necessary permits and licenses. I don't use Bitstamp that much, due to their ID requirements. Also, where I live the local exchanges usually offer better deals for Bitcoin.

Maybe if you try a variety of exchanges and outlets to remove such a big amount of Bitcoin would be easier for you, than just removing them form one place. You are very very lucky to have made such a huge amount of Bitcoin and congratulations for that. Have you tried all the big exchanges at least?

In my country, we have used local money exchange and bank transfer even free but only show the appropriate documents they want to see for verification and confirmation. Before that you have to follow his guidance also to fit the expected.

I recommend Bitstamp, it looks quite secure to me

Even with amazing reputation over a lot exchanges i would sell with local traders and at exchanges, but into small parts, all months i would exchange some coins to bank, besides those if you moove a big ammount besides the exchange fee you will have to pay the fee from your profit to your country unless you wanna to loose your investment, i dont see being easy to get a deposit of 5 milions without proff where the money camed from.

Yes exactly you have to make a wise decision sometimes irrespective of the fees which is not too much on the trusted exchanges. Also when you are going for such a huge investment it is better to in separate packets instead to all at once.

There is no good if you search for a new exchange which are not much trust worthy. I think in some case people go for a goodwill, like in shopping clothes or shoes when you fo follow a brand it is actually you are going for the goodwill they have in market.

Bitstamp is one of the more reliable exchanges out there. But I would not trust them 100%. After what happened with Mt Gox in 2014, I am in general a bit skeptical about all the crypto-exchanges. But right now, Bitstamp seems to be a good choice. Will be better if he sells his coins in many installments, rather than dumping all of them in one go. That reduces the risk.

Hm. I am using bittrex with full verification and my account is enhanced account. Therefore, I can withdraw upto 100 bitcoin a day. But it is still a small amount when I compare it with your example. I think that coinbase or some chinese exchanges will allow you to do thatt

0.09% of 1 million would be 900 USD, not 9000.

Personally, I would be more worried about getting my coins transferred safely. If I had 5 million worth of BTC, I would not be worried much about the transaction fee. It is only $900!

Really, i don't have that experience of Cashing out a large amounts of bitcoins. My limit is 1k$ which it's too easy by using some exchanging site or by sell it to someone who trust and who know very well. But with a high amount of bitcoin, you should search for big campaign to do that. I don't have any idea who can do that.

I am not in favour of the p2p transactions when it comes to such a huge amount. I am not a rich person therefore for me five million Dollars is a huge amount that I wish to collect in my whole life. If you are using the local exchange for this much amount I am sure you are more than a generous person. I have no words to use it there was a better word than the generous I must use it for you.

Doing a Bitcoin withdrawal in most Bitcoin exchanges require kyc information if the person is a foreigner or something. Bitcoin withdrawals usually need some sort of identification before sending the money through a banking system. Cashing Bitcoin locally is your best bet because you could see who you are doing business with instead of having some website rip you off.

no reason to do it all at once, i think. and if kita concerned about it at all, kita could do things slowly,  am sure they can handle that well and of course the best thing to do is not to encash it one time and not to use just one service provider. There are so many ways to do it. Goodluck then if kita have that amount.

I dont think if you cash out really big amount of bitcoin in thr exchanges it is in small fees because the more the bigger is you are going to cashout the more bigger the fees . But the only thing you should do is the most trusted exchanger  so that you are not end up getting your money

I wouldn’t want to get all my Bitcoin cashed just at once because the price of Bitcoin could go up the next day. The people that cashed their coins out when the price of Bitcoin was around $20 per coin easily regret that they’ve made that choice since the price of Bitcoin is over $2,000 now.

If I were to do it I'd not only split my money between exchanges, but also accounts and banks. With that much money you're not only risking being blocked by exchanges but also by your banks. Also, I wouldn't want to get raided by the police after transferring a couple million to an account that hasn't ever seen a large transaction. I just don't feel like proving to people that I'm not a terrorist.

This is confusing, why are we treating this like an illegal activity? Since when is it illegal to make money online, receive it in the bank, pay taxes on it, no matter how large the sum?

Are you guys saying that if my bank happens to ask, and I tell them the money is from an online investment they are going to shut me down?

I never said I want to be "undetected" I'm not doing anything illegal.

successful icos = my money

No. We are not treating it like illegal activity. The OP was just confused about the exchange fee, and about which exchange he should use for the transaction. If this was illegal, then I'd have never suggested Bitstamp, which is registered in Luxembourg, and operating with all the required licenses.

Yes this is a much better idea. It will be very tough to use this amount as a whole if you split your money. Also the use of various exchanges for this purpose is an excellent idea. It is good to be safe as with using various platforms you diversify the risk related to your money and a successful person is the one who knows how to reduce the risk factor.

Cashing large amount have fees. you can find a exchange that has less fees. you will loose alot if the fees is big.

If your paying tax for government then no need obviously there will be kyc process in wallets for withdrawing money . As fa am using wallet in my country for local exchange it takes less than 0.1% for each transaction mine is not big amount like you million . I really wanted to follow this thread if in future i would come to your position  ;D

Why not trying to contact directly a "big bitcoin investor" instead of going through an exchange?
There must be a way to identify and contact people/traders/investors investing large amounts of Bitcoins in your country.
In this case, instead of paying exchange fees, you limit the risk and also you can offer a better price to the potential investor.
The buyer and the seller can also "officialize" the transaction with a writen contract.

Good idea, by that you will safely get it unlike when you withdraw a huge amount of it and if there's something wrong it will be a big regret to you. I didn't experience also cashing out a big amount of it, whenever i want to have it I cash it out little by little.

That's not the point if you are about to withdraw a 1 million dollars then you shouldn't risk it just for lower fees, Netrox's advice is a right thing to do. Im my opinion I do not prefer for a lower fees as they might be a scam and if ever that they are op will lose not just 0.1% or 0.9% but the whole balance.

Which would be a perfect cause for endless litigation

After which you might end up with neither coins nor dollars. In fact, by looking for an off-the-market deal you are actually increasing the risks, not diminishing them. And if with an exchange you risk losing only your coins, going the offline way you are literally risking your life. There was a news a few days ago about some dude from Brooklin who had a gun pointed to his head when he tried to sell his coins this way

How does some one go about cashing out 5 million dollars worth of bitcoin?

IS there a trust worthy exchange that doesn't have low limits.. and high fees?

Bitstamp allows any amount it seems at .09% fee so for 1 million dollars it would be $9,000 fee.


Does anyone have any experience cashing out large amounts that does not take a year to do?

thanks


I THINK THE bITSTAMP FEE OF 0.09 FOR MILLION IS FAIR AND ABOUT THE LOWEST I HAVE SEEN. DO ADEAL WITH THEM IF YOU HAVE SUCH BTC.

I have never cashed out a large amount of bitcoins.My biggest cashout was 0.005 btc and that is it.I hope that one day I will be able to withdrawal every month at least 0.5 btc to have enought money for me.

I think you cannot sell it to a "big investor" because you can't trusy anybody. If they will buy bitcoin, they buy it straight forward without needing your offer.

The question is really vital and probably the answer is somehow negative if you try to cash a big sum of bitcoin out.

This is the best solution that I can think of. Even some exchanges have a withdrawal limit so I doubt you can withdraw huge amount as well. Just split the money in a exchanges and wait for another few days before making a withdrawal request again. In this method, the exchanges will not set an alarm on your account for withdrawing big amounts. If they flag your account, then definitely you will have a lot of proving to do before letting you withdraw your funds. Just be on the safe side to prevent hassles on your end.

Not sure if still relevant but i heard buying gold was a good way. Btc to gold

if you want to cashout more your investment should also be more because sometimes the prices may go up and down. I think you will make a profit when the market is good and your withdrawals will be high only when you capable making profits in the market.

The only legendary on btctalk that doesnt even have 1 btc.

Gah you are such a idiot deisik  :D

Is Bitcoin an illegal source? If you told them you made the money through bitcoin why is that a problem?

I have sent you personal message to help you out, please read your inbox

Shit why worry about the fee if you made a million i would be tickled to death paying that fee you greedy bastard lol going from broke to being a crypto millionaire my pleasure to pay what ever fee.

Here is what i would do i would sell my crypto turn it into bitcoins get a ledger nano wallet store it off line then make low deposits like 1 bitcoin per month or week or just keep bitcoin wait for it to go to a higher amount why risk cashing it  all out.

anyone looking to cash out into gold?

can get you a big discount as well using our pre-paid gold forward contracts

email me: offmarketinvestments46(at)gmail.com

I have found that even cashing out modest amounts of Bitcoins from Exchanges to be a major pain in the ass. This includes the big ones like Coinbase. Even when you have passed all the verification test and they know 100% who you are and you are sending it to a major bank that you have been with for 20 years. For some reason Banks just do not want to make the process simple. I personally am sick and tired of Banks dictating to you about where you send your money. I like most others pay my taxes, have legitimate accounts and am fully transparent on where funds come from but still you get delays. Last January I found it impossible to get money out of any exchanges. The money kept getting sent back to the Exchange because there was problems with their USD account or they were overloaded or whatever. I ended up getting the money out in Bitcoin and selling on Local Bitcoins. We really do need to be able to work with our Banks and be able to go into them and say I want my Bitcoin cashed now help me f&^%ing do it and stop making it difficult. The bullshit that Banks are pulling now such as a breach of their terms and conditions to buy and sell cryptos etc is simply wrong and they should not be allowed to get away with it. If your funds are legitimate and Bitcoin is legitimate then why the hell should Banks have any say in delaying your funds!!

To cash out large amount of bitcoin I suggest you use  high volume OTC trader , most are based in china ,you might find few around the US but volume might be small . I have tried this and it’s okay to me , I receive my fund to my company account that way my bank doesn’t pop up with many questions. Write Mr Wei he’s well known OTC trader in china. Write me for more info

I don't cashout big amounts in BTC due to high fees and mostly convert it into ETH and then in FIAT as mostly local exchanges allow FIAT withdrawals and the overall fee is quite less. If you choose BTC, you will need to pay heavy fee, then exchange fee via FIAT which would make you lose double the amount. ETH fee is usually the least.