Bitcoin Forum

I hold over 20 btc in cold storage and like to sell some at these prices.
how to sell anonymously for cash?
how to exchange for stablecoins anonymously and safe?
how to store stablecoins?

Hodlhodl or bsiq exchange will be good to sell Bitcoin anonymously, you can also use these exchanges to buy Bitcoin without no kyc required. Also is another one called LocalCryptos which will be good because no kyc needed also.

In addition to this: bisq has limits on how much you can trade for fist but I don't think it has them for stsnlevoins (could be wrong though.

When picking a stablecoin, please do your research to determine which is best as done are shadier than others (for example I'd personally stay away from tether/usdt).

i don't see any volume on bisq?

Other noobquestion.
Where do I send my stablecoins too? Where do I make a wallet ?

Yea.. volumes are pretty shite with Bisq unfortunately. You either set your own offers and wait, or try other services such as LocalCryptos[1] and HodlHodl[2].

Completely depends on what stablecoin you're planning on using. USDT has the highest volume though, and you probably want to use an Ethereum wallet through services like MEW[3].

Word of warning though.. Topic: [UPDATED] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets (https://bitcointalk.org/index.php?topic=5204055)

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[1] https://localcryptos.com/
[2] https://hodlhodl.com/
[3] https://myetherwallet.com/

On the client you don't see any volume or elsewhere? I think dexes are fairly experimental and not so trustworthy atm.

You could try a site like binance to convert (I've put a few btc on there and been able. To withdraw - not sure what their limit is now though). 

For stablecoins, a lot of them are on the ethereum network so you could go to myetherwallet or metamask (if typing into a search engine pick the first result that isn't an ad).

You're going to want to buy some ethereum at the same time and use it to fund the account you've just created as you need thst for PAYING FEES when you SEND a transaction from your new account. Also remember to withdraw from an exchange using the erc20 option on the withdrawal screen if one applies.
I normally send small amounts to and fro in both instances (btc and stablecoins to and from the exchange to your wallet) once or twice just to check I'm confident in doing it with larger.

If you're going to be doing this with what a hacker/scammer might consider valuable you might want to invest in a hardware device like a trezor (trezor.io) - alternatively there a guides for how to make one out of a raspberry pi using open source software for a few hundred bucks.

Binance is the best place to convert such big amount without KYC because other p2p platforms will have liquidity issues which may take too longer for the trades to get completed.

Which you planned to buy with bitcoin? Better consider alternatives of USDT like DAI which are truly decentralized.

Cash and stable coins are not the same. Stable coins are like digital cash but the world is still far from a day when you can use stable coin or cryptocurrency (include CBDCs) to pay for all of your expenses in real life.

So let's obey the tax law regulation in your nation. When you actually cash out in fiat (not stable coin), pay tax per law, if you don't want to have jail time. 20 BTC has a big value today.

Even you will trade on real DEX, it does not mean you and your trades will be 100% anonymously. At least your trade partner knows such details (trade details, your identities)

Help: A list of LocalBitcoin alternatives (P2P marketplaces) (https://bitcointalk.org/index.php?topic=5224711.msg53810894#msg53810894). Not all of P2P marketplaces are truly DEX.

Friendly note-
People spreading FUD or that's what going to happen- usdt stablecoin can be risky as SEC may have issue with that. Better you would look for other stablecoin, at the moment, I'm considering converting my usdt to DAI. It’s decentralized stablecoin.

Well, Binance isn't anonymous nor is it fully KYC-free, at sums as large as almost 800,000$, I am quite sure they will request identity verification to proceed with the withdrawal.

OP, your best bet is Bisq if you really want anonymity and privacy. Exchanges keep your IP and fingerprint besides deposit/withdrawal addresses. It might take a while as liquidity isn't Bisq's best feature, but privacy always has a cost.

If the exchange has a KYC program already in place that means they can force anyone at any time to comply with it and block their accounts with their funds until they submit their documents. It is not wise to use centralized exchanges if you are looking for privacy and don't like to give up your documents to strangers!

I would also advise against using stablecoins for storage under any circumstances. They are highly risky even if it doesn't look like it because they are all centralized altcoins.

When there is not enough liquidity for the coin which OP wanted to trade on bisq like platform then he have no other choice than choosing Binance where no need if KYC for anything under 2BTC per day to withdraw.

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Yes, exchanges may ask for verification if they found any suspicious activity like change of location too often or the trader follow particular pattern for withdrawal amount every day alart from this there is less chance for KYC verification as far as I experienced.

I think you do not have to search for the other exchanges because binance will be a good exchange for you.
You do not have to verify your account if you do not comfort to give your document to them, but your account will be under limitations.
I think that will be no problem for you because you can still withdraw the funds for up to 2 btc.
That is the way to prevent you to hide your identity.
Maybe you can save the usdt or other fiat money on the other wallet, whether it's a hardware wallet or apps wallet for desktop or mobile phone.
But if you want to exchange stable coin with fiat, I think you can use third party services such as the exchange or local sellers in your country.

binance locked my account within 1 trade...

In one trade? So what you actually done there?

Deposited everything at once and traded there or part of it? Quite shocked after reading the locked when you quoted my post.

Care to elaborate more on this one? :
 
Cause/reason provided by Binance, possible solutions provided by their contact channels, permanent or temporary, was the origin of the funds related in any way to potential dubious origin that you are aware of, that they could have analysed (chain analysis) and determined the outcome you state, etc.

no. VPN issue. And did get funds withdrawn afterwards. Just kinda freaks me out to risk 800k to them

I can't remember if it's trading volume or withdrawals, but 20BTC moving around on a new account will have definitely triggered flags. I'm assuming you had to verify your account. Seems you've already managed but your best bet for anonymously making the exchange are BTM's the fees can be high, but if you find out who owns the machine they might offer a better rate for a large transaction

Open a short position for cover your market risk.

where? Don't want to get hit with taxes when this crashes

Go short leverage with a small part of them . Your risk will be covered but this simply strategy

Kraken? Binance? Poloniex? Other brokers? You have a lot of choices!

If you are an holder you don’t need to sell.

Edit: first keep calm! Seems you are in panic  8)

We have different platform someone can buy and sell bitcoin even some of  these platforms required P2P transactions but I can refer people to use (1) Binance for purchasing and selling bitcoin and other coins, and (2) Remitano uses P2P method for btc transactions, lastly (3) luno, these depends on your country but all these require small charge based on the transactions.

It seems that you just found out about the little pot of gold that you hold and you may see a bit "lost" in what should you be doing and how to deal with this news.

First of all congratulations. 20 BTC, at it's current price, can chance the life of everyone and you should not let this excitement translate into fear / stress.

how to sell anonymously for cash? Most exchanges will ask for some sort of ID since the government demands it (at least I know that Kraken and Binance do this), at least for high amounts of trading. May I ask the need to sell anonymously? Do you have some sort of fear that people may found out who you are or something like that?
how to exchange for stablecoins anonymously and safe?Stablecoins, from the limited knowledge that I have, may be frozen with no notice. Please think twice before going this path.
how to store stablecoins? - See previous answer

Whatever you do don't go all in with the 20 BTC. My suggestion would be to pick an exchange, try to exchange a small amount of BTC and see how it goes.

Whatever you do, just take it easy. If you have BTC in a cold storage no one can take them from you, assuming you don't fall for those scams that try to trick you.

the reason I want to go with a stablecoin. (Dai can't be frozen in its current form as far as I know) is so i have some time figuring things out without the possibility half of it goes to shit in a month.

tried binance again and got 1500$ of dai. Just a small amount to try out.
Now how to do the other 800k?
Repeat this with new different accounts on binance with different iPs through VPN? What amounts i should be able to do without kyc or any risk on any problem?

Using VPN will put you under risk for sure, so never think about trying VPN and register new accounts. You can still trade the same account to trade further bit for 800K this might be alarming so you need new fresh IP for every conversion you make. ::)

As I wrote Go leverage on binance .  Have you ever traded by leveraging positions?

I wouldn't recommend using a VPN on exchanges since it can get your account flagged for suspicious activity. If you continue to do that odds are that they'll flag your account and then you'll have your funds blocked ...

May I ask why the need for such high amount of the anonymity?

tax and can't proof where btc came from.
Why would they flag me if I open a bunch of accounts with different ip using a VPN? How would they know im using a vpn?

Binance TOS (https://www.binance.com/en/terms) state in section 3.a that you may only have one account on the platform (wording there is not brilliant though). Whether they can connect them (IP behaviour for example) is another matter.

It does not cite anything explicit on VPNs that I’ve managed to see, but VPNs can sometimes lead to security concerns being raised (i.e. logging-in from many different IPs, possibly including some troublesome ones), which they may resolve as "unusual activity" as per section VI.1 (suspension of Binance accounts). I think they ought to be explicitly clear on VPN treatment; the internet is full of reports on issues when accessing the exchange from a vpn (then again, there seem to be plenty of people ok).

VPNs can be detected by multiple casuistic, including, but not limited to, blacklisted IPs, 1:n relationships (1 account, many IPs), n:1 relationships (n (many) accounts from different people using the same IP), geolocation jumps, and so forth.

Using a VPN doesn't mean you are safe and your IP address isn't traceable. Read this article, Can you be tracked with a VPN? (https://nordvpn.com/blog/can-you-be-tracked-with-a-vpn/). There is not much VPN provider. So most likely, they have a list or some other way to detect VPN providers. Here is an important part.

It seems although they wouldn't detect who are you but still they are able to know the traffic came from where. In this way, you just risking yourself I think. Binance has withdrawal limits without KYC, you can withdraw 2 BTC per day without verification. So at least you may do it once a day. Or you may look for some trusted person who will exchange for you on behalf of you who have verified account. As far as I know, withdrawal limits for the verified user are 100 BTC.

binance has withdrawal limits for 2 btc in us without kyc ?

According to the support section over at Binance US :

Without being Binance US, the rules are different (matches with your feedback):

The problem that you're trying to run away from (tax and not being able to proof how you got them) is something that you will also deal whenever you finally decide to cash out on your profits. have you tried to ask your local tax office what are they thoughts, or what would you need to declare if you were to proft from BTC selling?

Again, even holding stablecoins, you will eventually have to tax the profit (you would only be "protected" from the ups/downs of BTC value). But then again, if you're a believer, why not.... HODL? :)

Be careful on Binance. They usually freeze account if they have any suspects. So if you open a new account, trade small amount.