What's the best way to sell 100k without dumping on the market?

[Storm_Guardian_N7]

I have X Coin, I have a large amount of X Coin that I want to trade for Y Coin.

Problem #1: I'm afraid to use Coinigy & Shapeshift for such large amounts. (Shapeshift has limits and not sure how much I trust Coinigy since the rate you see can change; and no clear way to contact support if something goes wrong), they also don't have 'localbitcoins' for altcoins.

Problem #2: I'm afraid to use a normal exchange as it is such a LARGE amount and worried it will:

(1) Tank the market by 'dumping' on it -or-
(2) My account will get frozen, requiring more verification, and get reported to the taxman with IRS knocking on my door.
(3) That I'll lose all my gains during a hack or some sort.


I'm thinking the best way is to just stagger but let's say you have 100k, what amount would you stagger? How long does it take some people to close out their accounts of 'larger' amounts?

What are some other ways to get rid of altcoins you no longer want to reallocate your portfolio?

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[Pursuer]

100K what? if it is the dollar value like $100,000 worth of something then it is only about 23BTC and in most markets it really doesn't matter at all. it won't "dump" or "tank" the market. specially in bitcoin it will be a drop in the ocean, in most altcoins with large volume it won't matter too. for example 23BTC is only 0.9% in current LTC market.

if it is fiat, you may encounter problems with withdrawal to the bank.
if it is BTC that you want to withdraw, nothing is going to happen. you can simply trade it and withdraw 23BTC.

there are people trading with much more, numbers such as 50 or 100BTC.

[OmegaStarScream]

The first scenario is not going to happen because the amount is not that high to cause a huge price decrease as for the second one, you will definitely be asked for more information for such a high amount, If you are not willing to provide them, don't deposit any money and finally, exchanges get hacked indeed so I suggest splitting your funds to multiple exchanges instead of one, It may take longer time because of the verification process but It definitely worth it since you will be safe. I suggest using a combination of the following: Bitcoin ATMs (USD to Bitcoin) then deposit into exchanges to buy bitcoin, Paxful, Currency exchange section on the forums.

[gentlemand]

You'll get much more informative answers if you tell us what coin it is.

Depending on the coin there might be OTC dealers, exchanges you haven't thought of, or healthy sales threads on here.

And if you're going anywhere near an exchange it's pretty suicidal not to be fully verified if you have a decent amount of whatever.

[Fortify]

As others have said, it is impossible to gauge how far 100k will affect the value of any coin without knowing the overall market volume. How many of your coin are currently in circulation and what is the cap of total coins you are trading? How long has the coin existed? What is the daily amount currently being traded for X coin?

[Hamphser]

As others have said, it is impossible to gauge how far 100k will affect the value of any coin without knowing the overall market volume. How many of your coin are currently in circulation and what is the cap of total coins you are trading? How long has the coin existed? What is the daily amount currently being traded for X coin?

Depending on the coins marketcap and the supply is circulated but talking about $100k usd or what he does mean since he didnt elaborate whats on that 100k.Then i would say it wont really be that big amounts to be worried.If you do have a problems on withdrawing it then you have no choice but to follow to their rules and if not then you do withdraw it on staggard basis basing on the maximum per day for an unverified account.

[Lagduf]

I have X Coin, I have a large amount of X Coin that I want to trade for Y Coin.

Problem #1: I'm afraid to use Coinigy & Shapeshift for such large amounts. (Shapeshift has limits and not sure how much I trust Coinigy since the rate you see can change; and no clear way to contact support if something goes wrong), they also don't have 'localbitcoins' for altcoins.

Problem #2: I'm afraid to use a normal exchange as it is such a LARGE amount and worried it will:

(1) Tank the market by 'dumping' on it -or-
(2) My account will get frozen, requiring more verification, and get reported to the taxman with IRS knocking on my door.
(3) That I'll lose all my gains during a hack or some sort.


I'm thinking the best way is to just stagger but let's say you have 100k, what amount would you stagger? How long does it take some people to close out their accounts of 'larger' amounts?

What are some other ways to get rid of altcoins you no longer want to reallocate your portfolio?

Just try to spend your amount into someparts if you are try to crashing the market through dump the coin and  believe me there will your coin will be sold in the cheap price by the way like what was happened with ethereum in a half year ago.

[Xavofat]

I doubt Bittrex would bat an eyelid at a trading volume of 20-30 coins on an account with enhanced verification.  The risk isn't too bad because you can be in and out of the exchange within a few hours (enhanced accounts can withdraw up to 100 BTC per day).

If you need to stay anonymous for some reason, it's a bit risky but Shapeshift would still be okay for that amount.  You can do about 1.2 BTC per deposit and if you're worried about them stopping you then you could always switch IP addresses a few times (access from different locations or use VPNs).

Using Shapeshift is likely to get you some shit exchanges though.