Hi

If someone theoretically cashes out if a cryptocurrency they invested in at binance (where you have already sent say ethereum to binance to buy some cryptocurrency that you can't buy at coinbase) makes them a good return, say 500k or even a million pounds can someone explain how one gets the money into their bank account?

Would you have to sell your currency say xrp at binance or do you convert it to ethereum again and then send it to coinbase, almost the reverse process as in sending ethereum to binance from coinbase?

How would one cash out at binance as once you send your money or eth etc how does one go about transferring 500k to 1 million to your bank account when coinbase has daily withdrawl limits?

Or do you withdraw 1 million in stages to your bank account or do coinbase allow you to raise your daily limits for such an amount?

Hi

I'm going to start trading in cryptocurrency. I probably won't be buying Bitcoin but will test the water with litecoin,ethereum etc. I know that there has been alot of talk about uk banks and trading in cryptocurrency and this does worry me. I've heard stories about accounts being closed because of this.

I'm going to use one of my business bank accounts. I've already registered with coinbase and I'm just waiting for my funds to be deposited via sepa which I've sent.

I may look into binance also to buy some cryptocurrencies not available on coinbase.

Now the thing that scares me is that say someone makes £500,000 to £1 million, theoretically and then wants to withdraw this via coinbase or bitstamp into their bank account what does one have to do to ensure your account doesn't get frozen?

If it does get frozen does that mean youv'e lost your £1 million?

Some uk guides are saying to inform your bank account that you are about to trade in Bitcoin or cryptocurrency before you start trading. Is this necessary?

It scared the heck out of me to know that if you do make a large amount down the line via cryptocurrency and then you want to move this into your bank account to buy a house or do whatever then you could be buggered?

I've heard about Revolut but surely you would still need to move money into your bank account if you were to use that money as a deposit for a house or to buy something outright?

Can someone please put my mind at ease as to how best to do this and to avoid your bank account from suddenly freezing your account?

Thanks