Safety measures in case of huge profit

[HarringtonStark]

I would only convert small amounts of bitcoins to EUR at a time to be safe. I will also split my bitcoins on different wallets just to be safe.

[aso118]

Don't listen to people telling you what to do, I only suggest that best thing would be downloading electrum wallet, generating 30 addresses getting their private keys printing them on a paper and saving the addresses on a text document (note pad) sending your coins to a mixer and asking them to deposit 1 bitcoin to each address you are giving them.

After doing so you could keep doing that making sure no one will ever be able to link you to those coins, also don't worry too much about the safety of your bitcoins after doing what I suggested because in case of unauthorized access to any coin stash there are much bigger fishes than you

Don't forget to uninstall electrum and every file associated in hidden appdata folder assuming you have windows.

I agree with the electrum bit, but why do you need to print private keys on a paper?
Just make a note of the seed and you are just as secure.

[jaberwock]

if you bought them from an exchange at a much lower price, them get some proof you bought them, so you won't get problems to prove where your immense amount of money come from.  You might want to consult a lawyer before doing any big withdraw, to minimize the problems

if you don't have to prove that the value worth of Bitcoin you have come from a legal source(for example: you earned them in the forum with signature campaigns and offering services, then price skyrocketed to $10k+/btc), then better save them in cold storage somewhere safe, and spend them slowly, some few thousands USD/month at most shouldn't get too much attention

[agustina2]

Hey guys, quite new to this cryptocurrency thing.
How should I proceed if i ever manage to have high profits in BTC, lets say 30BTC, and i want to convert it back to Euros.
What do you guys think is the best way to do it and active/passive safety measures should one take at all times.

Thanks! Sorry if kinda messy questions

With the example you told us, you are saying that you got BTC30 profit? Kinda unusual since bitcoin quantity are not increasing while there is a bitcoin price increase. It should be BTC30 value in fiat so it's on USD value. You sold your bitcoin into fiat. Just correct me if Im wrong. To continue this, do you have any bitcoin exchanger there in your place that supports direct exchange of bitcoin to Euros? If not then find a way to have your USD in that exchange be converted in Euros.

On the other side of the note and situation, if you have BTC30 on hand, then get out from that exchange if you will not do trades anymore and stored it first in a safe wallet to considered, Electrum is my suggestion. After that only send bitcoin by batch and transfer it on your local exchange that conveting your bitcoins into Euros.

[YuginKadoya]

Hey guys, quite new to this cryptocurrency thing.
How should I proceed if i ever manage to have high profits in BTC, lets say 30BTC, and i want to convert it back to Euros.
What do you guys think is the best way to do it and active/passive safety measures should one take at all times.

Thanks! Sorry if kinda messy questions

If you can use it directly why bother convert it into other currencies, but if you are good with trading and knows a thing or two about it you should invest some, and if you are not then just save your hard earn bitcoin for a value increased and stay away from gambling if you don't want risking you bitcoin to be gone!

[maydna]

I would only convert small amounts of bitcoins to EUR at a time to be safe. I will also split my bitcoins on different wallets just to be safe.

30 btc is a big money in fiat and i don't think that will be good for you to convert to euro without make flag red to your bank account. i think you need to separate your bitcoin in many wallet like HarringtonStark said and then you can sell your bitcoin with small part and hold the rest of your bitcoin.

[South Park]

Don't listen to people telling you what to do, I only suggest that best thing would be downloading electrum wallet, generating 30 addresses getting their private keys printing them on a paper and saving the addresses on a text document (note pad) sending your coins to a mixer and asking them to deposit 1 bitcoin to each address you are giving them.

After doing so you could keep doing that making sure no one will ever be able to link you to those coins, also don't worry too much about the safety of your bitcoins after doing what I suggested because in case of unauthorized access to any coin stash there are much bigger fishes than you

Don't forget to uninstall electrum and every file associated in hidden appdata folder assuming you have windows.

If you are that worried about information remaining in your computer you could create and installation just for that and then wiping the hard drive clean securely so no traces of the wallet remain in the hard drive, you could even use a high capacity usb for that if you have one.

[alani123]

Have an exchange account ready, verified and waiting. Like it or not, verified trading accounts are the most convenient way to securely trade bitcoin at current rates.

[LegendaryMiner]

Have an exchange account ready, verified and waiting. Like it or not, verified trading accounts are the most convenient way to securely trade bitcoin at current rates.

I think this would not completely protect his funds, since exchanges have several points of centralization. I think the important thing, as other users have recommended, is to have most of the funds stored in places for which only the owner of these funds owns the private keys.

[sportis]

To my point of view not all eggs in one basket. If I was you I would use the same policy like as if I had an investment stocks portfolio i.e a risk policy management which implemented via diversification. Therefore, most part 50%-60% I would keep it to hardware wallets (trezor, ledger, opendime sticks, anything after a research you believe is the safest choice). The next part about 20% I would deposit to 2-3 well known exchanges (to reduce the risk in case of hacking). The rest of my coins I would convert in fiat (using localbitcoins and cryptocurrency ATMs).

[Wandering Soul~]

First is you must store it in a safest way that is suitable for you . All wallets has its risks it depends on how you can handle it . My recommendation is to use any cold wallet but if its impossible then a desktop wallet will do just be sure to keep it clean .

The safest way is to convert it to a highly reputable exchanges but that amount is huge so people might find it suspicious so just set a schedule for example is to withdraw every week for your transaction not get a lot of attention .