Bitcoin Forum

If my ICO hits the hard cap.

How can I withdraw the ICO funds into fiat currency? through the bank? how is this possible?

From my understanding you have two options:

1) Try to find a traditional bank that will accept cryptocurrency
2) Use an exchange

Neither of these seem like great options to me, would be keen to hear from someone who has experience on the topic!

You have to wait till the coin of your ICO to hit the exchanges and trade your ICO coin to BTC. After that use an exchange (eg. coinbase) to sell BTC for fiat.

Alternatively, you can post in marketplace to exchange your ICO coin for fiat with another member here. Remember to use escrow for such trades.

you cant exchange it into fiat straight you must first receive your coin then send it to a exchange that accepts the coin and exchange it to fiat if not exchange it first to bitcoin then fiat. you cant withdraw your ico funds through bank its not possible unless someone wants to buy your coin for fiat.

Wait of the TGE or the toke generation event if the ICO was successful surely the developers will set a specific date do that you can claim your tokens,make sure your wallet supported the token type for example myetherwallet for the erc20 based tokens,go to the website of the ICO or check the telegram group if you are unsure when will the tokens be generated.

search for a bank which supported btc to usd or your prefered fiat.

Thank you for your response, but I think you're missing my point..

If MY ICO was successful and I have $40 million worth of Ether, how can I withdraw this to fiat currency?

I understand how this works when I invest in many ICO's, but what about my ICO.

If i receive $40 million worth of Ether, how can I get this into fiat currency?

You need to go to an exchange where you can trade your ICO token/coin with Bitcoin or Ethereum. Exchange them with Bitcoin, Litecoin or Ethereum. Then go to Coinbase or other place exchanging them with real money. And then send them to your bank account.
The process is complicate...

Make sure your ICO token added any exchanger and also sure about withdraw procedure.
If there has any restriction for withdraw, then you can not withdraw your token.
It is the best solution, try to contact with the admin of that project. He will helps you.

First of all I would like to ask your curiosity which ICO program did you participate in and did hardcap? If you come to the answer part of your problem, the ICO's official website you are using tells you when the stock exchanges will be located. From there, you can check and convert the tokens / coins in your hand into cash by finding trades that are traded.

I don't think this is the correct process.

If I am the founder/CEO of the ICO
and
I want to bring 40 MILLION DOLLARS WORTH OF ETHER back into fiat currency, I would need a very safe and secure means for this large transfer

No.

IF, I was the CEO/founder.... I did not participate in an ICO

How can I withdraw the ENTIRE ICO fund my ICO received?

As far as i know coinbase supports direct exchange to usd/btc that is why it is easier for the u.s citizens to liquidate their cryptocurrency assets,but i dont know how would you sell your coins for the fiat directly if you are outside the U.S,maybe you should find someone that is willing to pay in fiat for your cryptocurrencies so that it will be much easier.

I think you should contact directly Coinbase or other exchanges accepting real fiat if you have a very big amount of money to exchange. They may have the answer.

It will hard cap until it reaches the expected value buddy. It need to reach the softcap that is actual successful for the ICO token sale period. If you want to get the tokens to fiat currency. First you need to have the token sale to the ERC20 token wallet like MEW.

Then you should have the ethereum on the concern wallet to transfer the tokens to exchange. If you want transfer to the exchange first you have search where these tokens has been listed on the exchange with the help of coinmarketcap.

If you have to doubt that token may dump in future. Try to sell the tokens when the time it launched to the market.

Find local exchanges that supports btc/fiat currency of your choice,because im sure these small local exchanges are more willing to buy bitcoins,major exchanges doesnt have directly pairing like what coinbase has,but sim sure these small vendors will give you much better exchange rates always ask them if they can paid you fiat directly.

This the best suggestion so far.

I'm sure there is a very easy way to withdraw your FULL ICO fund. Maybe like you suggested, Coinbase provide a service for much larger amounts

as far as i know rare to see any banks allowed their costumers to use cryptocurrency directly to them but it depend on from where you're live that if there is bank allowed crypto users in your country then you can withdraw your ICO fund directly to your banks account but if there is no banks which have those features then you have to convert your fund first use your local exchange

Your ICO? you mean you are the owner of the ICO or just a bounty hunter? You can withdraw your ICO funds into fiat currency once it is listed in an exchange. Its either will be paired to ethereum or bitcoin in an exchange. In localbitcoins.com there are so many bitcoin buyers near your place and you can get it directly into fiat via bank.

Yes, imagine it was my ICO and I had just raised $40 million worth of Ether.

What is the best way to transfer the entire $40 million worth of ether in fiat currency?

Are you going to sell all of your ICO investments? do you know what will happen to your ICO investors? they will suffer a lot when the price was dump too fast,if you really have $40M cryptocurrency assets you should directly contact coinbase as they are the biggest exchange in the u.s if you arent from the u.s you will need to find someone there that can exchange it.

I havn't completed my ICO. I don't want to make my ICO investors suffer..

I just want to know how I will be able to convert and withdraw the Ether into fiat when my ICO is complete.

I will need fiat currency to complete ongoing objectives (e.g pay staff) as outlined in my white paper

You can maybe contact some companies who already finished their ICO. Some surely already did this.

That is very easy bro,sale it p2p so you wont need banks,ask someone in your country which has connections or community that are willing to buy your ethereum for cash,bank 2 bank transactions needs a lot requirements plus you might be questioned if you have tons of money.Or find someone overseas that are willing to buy your bitcoins or ethereum,in our country i am exchanging my bitcoins to the casino's because these casino has millions of dollars on hand  ;D

The ICO was considered as a succeed one is the one that reached to an exchange. So everything will be simple, just create an account on that exchange, deposit all your tokens , get the balance, exchanging all of them to BTC or ETH then simply just sell all of them to your fiat currency.

It is possible some exchanges like coinbase has usd/btc trading pairs,but if you are non u.s citizens you should find a local exchange which supports loca fiat/btc conversion because it might be hard to find banks which will support btc/usd pairingin our country there are some small exchanges that are buying bitcoin directly to fiat,you should get some in your country as well.

I have the same assumptions which dont give out some idea with this guy  8). Having an ICO then decide to cash it out to fiat.If you are not really after on dumping out those tokens then you shouldnt really took out those funds because investors would really suffer on such loss.Even if you would say that you would use it for other purposes like paying staffs.Its not really necessary for you to withdraw that $40M just because of that which this turns out to be shady already.

Sell your tokens when your project has reached the exchanges so that you will be making a lot of money,i suggest if your project is really a solid project and has potential to grow HOLD it but if its not,better to dump it early because you wont know what will happen in the market,ICO and bounty hunters are normally dumping these tokens as soon as the project was lsited in echange.

Could you tell us, why you would like to withdraw it?

Do not use banks,because if you are cashing out millions of dollars you could be questioned,or you might be presume that doing illegal things like money laundering,the best thing to do is to sell your coins or bitcoins p2p or person to people so that you wont have any hassle getting your cash.I normally selling my bitcoins into CASINO's in our city because there are gamblers that are willing to buy your bitcoin.

You have to wait until coin will be on exchange the register and deposit your funds there. After that you exchange it to more known cryptocurrencies. Bitcoin and ethereum are great. You can use them to buy things online or sell them and change it in fiat money. To do latter you have to find some sort of website to do it for you.

Watch out for scams! :)

It depend on the country you are, there are some P2P exchanges that you can sell you BTC or Ether on and you will have to complete the KYC and AML form, also there re some comapnies that do this for their client but they charge certain percentage for their service

is the coins already distributed? if yes, is it already listed on some exchange?
trade your fund you received to btc on some exchange then trade your btc into fiat if your country support p2p btc to fiat already.

When we are talking 40Mio$ in investment money you already should hav banking relations and some tax advisor those should be the first people to ask. Then I would talk to the large exchanges in order to get realistic fees and decent withdrawl limits. Also keep in mind selling that much on one day might influence the exchange rate.
The other option would be to find a big enough organisation that is in need oth that much crypto and has fiat (*cough* like a soon starting trading desk *cough*)

Wait for the coins to be listed in exchanges and im sure there will be no hassle in exchanging your coins to fiat,go to some local exchange in your town and try to convinced them to get your coins directly,fiat money would be hard if you are living in the u.s because you might be accused of money laundering so be careful with the people you are dealing with.

What do you mean by saying "your ico"?  Have you organized and held one or did you invest?  All the campaigns list on exchanges in some time.  Then you can sell your tokens for eth or btc,  then cash it out.

You shouldnt be doing that because your investors might get rekt when your shares will be sold all at once,wait for the investors to cashout so if anything happens when you dump millions of dollars they wont be affected,ICO surely is profitable when the price of the token will be doubled or trippled as soon as it gets listed in exchanges you can try to exchange it to casinos,but not the banks.

It's very simple.
Withdraw tokens from your wallet to the exchange, sell them and then through the exchanger transfer to your card.

just wait until your coins or tokens being listed on exchange
then convert it with BTC first before you convert to fiat currency
keep your eyes to the last news from your ICO

Do not use banks for big transactions because you might questioned where it came from i have heard most of the banks are starting to close accounts which has crytocurrency transactions,do not risk your money to these banks your government might see your assets,trade p2p so you wont get hard time to convert to fiat.

Banks are unpredidtable you might be reported to the government if you have cashout too much,millions of dollars are questionable if you are residing to some countries which has some cryptocurrency regulations,i suggest go to the community which are willing to get your bitcoins in exchange to the fiat currency so it would be much easier and you dont need banks.

I thought the funds raised from these ICOs are for the development of the project? what project are you talking to? i pitty those people who invested to your project and it seems their money will be wasted for nothing,getting millions of dollars will give you a lot of headaches especially when those investors started to dump your tokens,and those people will try to blame your ass because the price would fall below the ICO price.

Are you going to dump those supply of yours? or the funds you have raised would be cashed out? i pitty those investors who invested to your project seems they have a bad choice,these funds are intended to use in the project development not for the personal use,but its your choice this is why i dont really like to risk my money joining these scam ICOs,greedy people are all over the community.

Yeah,this type of people are the ones who are making this community looks even scam,that is why the main stream media wont give a shit to us,because these people are going to create an ICO just to raise funds to make easy money,then will eventually run away from the project that they have promised,poor investors  :'(

I agree! This is disgraceful! These people should be arrested

ATTENTION, THIS IS A HYPOTHETICAL SITUATION

Please take a moment and think about it if you were the founder, and it was your ICO.

If you host your ICO and you hit your hard cap. how will you withdraw fiat to pay developers, rent costs, server costs, marketing??
These are costs in the fiat world which need to be paid in euros, pounds, dollars etc

Ok, so you are not selling your own token in this example?

You mean how does the project bring the funds raised into the real economy?

And for developing a project you will need fiat currency. At least in my country I have to pay office rent, salaries, expenses, ... in fiat. So in order to develop a project a realistic amount of the ICO money needs to be exchanged.

First, if you're in the US or a US Corp the money you raised is considered revenue.  So no matter where you transfer or how, you'll need to declare.  Just FYI.

In answer to your second question, I actually asked our devs the same thing since we have an ICO in progress.  The options you have are Localbitcoins or tranfering the funds you raised into a wallet(s) that allow you to transfer between crypto and fiat currencies.

If I'm mistaken, someone please correct me. 

Don’t be ashamed to be wrong or uninformed.  Be ashamed to be stubborn or incurious.


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The easiest way is to sell it to someone personally. If this is not possible, then use the exchanges.

Sell it first to the market.
Turn into BTC or ETH, then you can pay out to USD with escrow to people or redeem it to paypal.

Will,thats depend in your country if they accept  bitcoin convert into fiat currency by withdrawing into the bank,actually mostly some of all bitcoiners or investor is using a exchange trading site to convert there altcoins into fiat money so why that did'nt not you try it,so that you can get that you investment from the ICO that you partcipating and enjoy the  profits of your hardwork.

You can widraw it thru coinbase if you are a u.s citizen if not,your only choice would be to sell it to the people who are willing to pay in cash,or check your local exchanges because im sure they are willing to pay your bitcoins with their cash,if you really needed big amounts of money banks isnt an optoin because you could be questioned if we are talking about millions of dollars.

Of course you can,i had a friend who are using casinos to exchange his bitcoins to fiat,you can do that also if you dont want these banks to be involved,because the government is strictly watching and you could be accused as money launderer if you have millions of dollars in your pocket,if i were you i would put into several bank accounts or you can use swiss account.