Is it safe/dangerous to sell if the wallet gets to valueable

[h0pens]

I have one wallet with some bitcoins. If bitcoin continues to grow in value (think 100k - 1000k) that wallet will be very valueable.
1. How do I sell my bitcoins without any noticeing my wallet and who I am? Should I always use a vpn when sending a transaction?
2. Is there criminals that searching in blockexplorer (or in another way) to find a wallet like mine and then searches up those ppls in the real world and threats them to their life?
3. How do I best sell / splits up my wallet
4. Can I trust the exchanges? They have my personal information.

[pixie85]

People can't trace you personally through the blockchain. Your transactions don't have a nametag on them. Nobody will come and threaten you.

The safest way if you want to avoid KYC is to trade on decentralized exchanges or in person. You can also use an ATM to withdraw bitcoin anonymously.

I can't tell you if you can trust exchanges to hold your data private but you can trust them to send you the money if you use a big one like coinbase. They won't scam you but you won't avoid KYC if you use them.

[hatshepsut93]

1. Sending transactions while using VPN/Tor is a good idea, because it will prevent adversaries from linking your IP address to your coins.

2. It can happen, people can leave their addresses on forums and social media, and even one address can be linked to other addresses if you are not careful.

4. Using exchange will have much smaller risk of getting scammed/robbed than a p2p trade, but it's bad for your privacy, especially if an exchange requires KYC. I don't think that they sell data to criminals, but if an exchange gets hacked, personal data can be stolen too. Exchanges share customer data with officials though, so you'll have to pay your taxes.

[stfN2128]

The best thing you can do is splitting your coins on different addresses. before you do this you can use a mixer. its always better when you sell some coins and the other one knows your identity. just imagine someone buys 0.1 bitcoin and sees you have 8 btc left on this address... so 1.) make sure no one gets your identity or 2 as already said, split you coins on different addresses.

[Naughty Princess]

The best thing you can do is splitting your coins on different addresses. before you do this you can use a mixer. its always better when you sell some coins and the other one knows your identity. just imagine someone buys 0.1 bitcoin and sees you have 8 btc left on this address... so 1.) make sure no one gets your identity or 2 as already said, split you coins on different addresses.

I agree. Make other account, do not link on your main account, which you can use for your different transactions. That would be safer though every transactions is anonymous unless there is a request for KYC that ask for your personal info. Be careful of the site you are using because some are just phishing.

[dothebeats]

I have one wallet with some bitcoins. If bitcoin continues to grow in value (think 100k - 1000k) that wallet will be very valueable.
1. How do I sell my bitcoins without any noticeing my wallet and who I am? Should I always use a vpn when sending a transaction?
2. Is there criminals that searching in blockexplorer (or in another way) to find a wallet like mine and then searches up those ppls in the real world and threats them to their life?
3. How do I best sell / splits up my wallet
4. Can I trust the exchanges? They have my personal information.

1. Use change addresses every time you make a transaction. This somewhat dilutes the trail and uses a different 'starting point' on your transactions everytime and not just the same address you have used for the previous tranaactions.
2. There are, though I don't think they'd be interested in low volume/weight addresses. Even then, there's still no correlation between IP addresses and transactions, so you're safe.
3. Refer to number 1.
4. Yes and no. You can trust them to facilitate the trades however you don't know if they're using your docs for something else. Just don't leave lots of money on exchanges and you'll be fine.

[dkbit98]

Samourai wallet have nice features for keeping your BTC and your privacy.
https://samouraiwallet.com/

Just check the features
https://samouraiwallet.com/features

I have one wallet with some bitcoins. If bitcoin continues to grow in value (think 100k - 1000k) that wallet will be very valueable.
1. How do I sell my bitcoins without any noticeing my wallet and who I am? Should I always use a vpn when sending a transaction?
2. Is there criminals that searching in blockexplorer (or in another way) to find a wallet like mine and then searches up those ppls in the real world and threats them to their life?
3. How do I best sell / splits up my wallet
4. Can I trust the exchanges? They have my personal information.

1. use Bisq exchange  https://bisq.network/
2. Yes. Do not talk in public how much BTC you have .
3. Best not to move BTC, if you want to keep it.
4. Not for keeping BTC, only for trading.

[Herbert2020]

1. How do I sell my bitcoins without any noticeing my wallet and who I am? Should I always use a vpn when sending a transaction?

it depends on the type of wallet you are using!
if it is a full node then using VPNs and TOR are good options for increasing your privacy but if it is an SPV wallet, a web wallet or worse of all a custodial wallet then your privacy is reduced in order of the types i listed here. hiding your IP doesn't do you much.

2. Is there criminals that searching in blockexplorer (or in another way) to find a wallet like mine and then searches up those ppls in the real world and threats them to their life?

they have to be able to link the "coins" to the person. as long as you are not advertising your identity online and not linking it to your address you could be fine.

3. How do I best sell / splits up my wallet

sell on exchanges, and if you have large amounts split it among multiple addresses (like 10BTC per address).
if you decided to sell face to face then make sure to do it in a public place and bring someone with you as "bodyguard"!

4. Can I trust the exchanges? They have my personal information.

not so much. they are hacked all the time and some of them are shady enough to sell your information online! specially the big altcoin exchanges.

[muslol67]

I have one wallet with some bitcoins. If bitcoin continues to grow in value (think 100k - 1000k) that wallet will be very valueable.
1. How do I sell my bitcoins without any noticeing my wallet and who I am? Should I always use a vpn when sending a transaction?
2. Is there criminals that searching in blockexplorer (or in another way) to find a wallet like mine and then searches up those ppls in the real world and threats them to their life?
3. How do I best sell / splits up my wallet
4. Can I trust the exchanges? They have my personal information.

1. I think you should make a research about DEX! You can trade your money in DEX with privacy. And you always buy or sell BTC's P2P.


2) There is no legal instruments about it. There is no one also restric about it. Blockexplorer, always will be transparent and everyone can see all transaction freely.

3) You may look for mixer application. Or swap things. It is easy to use when you are keeping your privacy.

4) Its all up to you. There were so many examples what blown up exchanges. (for example you should look for mt gox issue).

You post remind me old time MEW's warning.

Your coins will be worth million dollar maybe...

[avikz]

I have one wallet with some bitcoins. If bitcoin continues to grow in value (think 100k - 1000k) that wallet will be very valueable.
1. How do I sell my bitcoins without any noticeing my wallet and who I am? Should I always use a vpn when sending a transaction?

Can be done! Use TOR browser if possible. This way you will de-link your wallet and IP address!

2. Is there criminals that searching in blockexplorer (or in another way) to find a wallet like mine and then searches up those ppls in the real world and threats them to their life?

Not possible! They can find the wallet but can't find your personal information this way or any other information about the user of the wallet until you explicitly take the ownership. 

3. How do I best sell / splits up my wallet

I recommend to use a third party wallet like Electrum or Greenwallet or coinbase to keep some running funds into it for your trading activities! The amount should not be very huge and just to fulfill your trading desire. 

4. Can I trust the exchanges? They have my personal information.

regulated exchanges like Binance can be trusted until a hacker attack revels the details of the user information. Or else, use Decentralized exchanges. There are many DEX available and I won't recommend any particular name, but you can do a little research before using DEX. No personal information will be asked by these DEX.

[Micerker]

The Blockchain platform is anonymous, and it always ensures the identity of the user of this platform. Bitcoin also has an anonymous feature, so all transactions are public, but the identity of the buyer/seller is secure because of the Blockchain anonymity feature.

[slaman29]

You know, the great thing about Bitcoin is that if you never attach any identity to your wallet address, then all they can ever do and all anyone can ever do, is say that that address holds a lot of Bitcoin. I would personally use a mixer now to split off all the coins in a different address and hold them there if you really have millions of dollars worth of BTC. But as long as you keep your private keys secure, shouldn't ever need to worry.

[boyptc]

Don't keep your bitcoin to an exchange although they have your information already which I assume you passed on KYC already just to increase your trading limit.

Since most of your questions were answered, you can opt for a mixer - chipmixer to be specific.

[Thirdspace]

1. I think you should make a research about DEX! You can trade your money in DEX with privacy. And you always buy or sell BTC's P2P.

I believe OP was asking about how to encash his bitcoin, I don't think DEX is the right platform
DEX is for crypto-to-crypto exchange only, I haven't seen real fiat exchange on DEX
when we need to liquidate bitcoin, we cannot avoid exposing a bit of our personal info
either we do it thru peer-to-peer transaction or a centralized institution (fiat gateway)

4. Can I trust the exchanges? They have my personal information.

use the one you can trust most to exchange your bitcoin, preferably local exchanges
you can try to find and visit their "brick and mortar" office to make sure they are real business
and do it in batches, so if anything goes wrong you don't lose all your money

[Samayuki]

if you own the private key you own the coins too and no one can see how much you have in your wallet or how much you are worth so relax your identity is secured

[timerland]

You'll be fine. If you have a large number of coins, you can use the numerous available features that help you protect your self, VPN/tor when sending transactions (so they can't link your transaction to your IP address), bitcoin mixers (for making sure your transactions can't be traced to you) and change addresses (so no one will ever know how much BTC you have).

1. I think you should make a research about DEX! You can trade your money in DEX with privacy. And you always buy or sell BTC's P2P.

I believe OP was asking about how to encash his bitcoin, I don't think DEX is the right platform
DEX is for crypto-to-crypto exchange only, I haven't seen real fiat exchange on DEX
when we need to liquidate bitcoin, we cannot avoid exposing a bit of our personal info
either we do it thru peer-to-peer transaction or a centralized institution (fiat gateway)

Yeah, same. There hasn't been a lot of DEX's that you can trade crypto for, with maybe the exception of localethereum (if you consider that a dex). For cashing out bitcoin safely, sign up to localbitcoins and message trades if they'd want to do cash trades (they removed this feature, but you can still use the platform to find interested people). This way, there's no track of anything and as long as you meet in a public place, you will be fine.

and do it in batches, so if anything goes wrong you don't lose all your money

Yes, do this!

[h0pens]

I got some more question about splitting up my wallet

I see several times in this thread that I should "change addresses every time I make a transaction". Does this mean that I should use a new address when I RECEIVE coins to my wallet? Because the receiver when I send will always see how mutch btc there is in the wallet no matter how I do with new addresses?

A suggestion I have is:
1. Send all btc's to an non KYC exchange
2. send ~0.1 btc to a NEW wallet" X amount of times

The only one that can see the total amount of btc I have is the exchange. Perhaps includeing samouraiwallet between step 1 and 2, but I don't really know if it makes any difference?

Another good option is to send the coins to a mixer to make it more anonymous.
But I'm a bit unsure of this alternative because I want to have the option in the future to show that I sent that coin from A -> B (I own wallet A and B). With a mixer it will be A -> "mixer" -> B and can I show any prof that the transaction from the mixer original was "my coins"? Say if eg. the IRS want me to explain all of it and they only see a transaction from the mixer -> B and that they don't belive that it only was a transaction from A. Perhaps a bad example but I hope you got the point of maybe avoiding a mixer..

Never said that in the first post but if I sell my coins to fiat it will only be on a KYC exchanges (even so, I don't want them to see how many coins I have). Or if I buy something with my coins, I dont wan't them to see how mutch coins I have or give them the ability to follow the transaction to the wallet I have now with all my coins. It's the reason why I think it will be a good option to bounce it to a non KYC exchange.

[bitmover]

I see several times in this thread that I should "change addresses every time I make a transaction". Does this mean that I should use a new address when I RECEIVE coins to my wallet? Because the receiver when I send will always see how mutch btc there is in the wallet no matter how I do with new addresses?

If you are using a good wallet, it has the option to create a new address. You should create a new one fore every transaction. Nobody knows what addresses do you own. However, if you use only one, the people you trnasact with will know how many bitcoin you have.

If you have many addresses, the people you transact with will know only the balance of the address you give them.

Another good option is to send the coins to a mixer to make it more anonymous.
But I'm a bit unsure of this alternative because I want to have the option in the future to show that I sent that coin from A -> B (I own wallet A and B). With a mixer it will be A -> "mixer" -> B and can I show any prof that the transaction from the mixer original was "my coins"? Say if eg. the IRS want me to explain all of it and they only see a transaction from the mixer -> B and that they don't belive that it only was a transaction from A. Perhaps a bad example but I hope you got the point of maybe avoiding a mixer..

This is the best option.

Mixer will not do A > mixer > B.
The mixer will do  dozens, maybe hundreds of transactions with your coins, and will give you other coins (which are not yours). Look at this image, for example



if you send a mixer 1 btc, you will probably receive about 10 addresses (at least) with funds. You can read more about a good mixer here:
https://chipmixer.se/faq

ChipMixer creates Bitcoin addresses and funds them with specific sizes. These are chips with 0.001 BTC, 0.002 BTC, 0.004 BTC and so on till 4.096 BTC. When you deposit your Bitcoins, you receive same amount in chips. For example you deposit 0.112 BTC and you receive 0.064 + 0.032 + 0.016 chips. Each chip was funded before your deposit, so there is no link between them and your deposit on blockchain. They are already anonymous.

Never said that in the first post but if I sell my coins to fiat it will only be on a KYC exchanges (even so, I don't want them to see how many coins I have). Or if I buy something with my coins, I dont wan't them to see how mutch coins I have or give them the ability to follow the transaction to the wallet I have now with all my coins. It's the reason why I think it will be a good option to bounce it to a non KYC exchange.

If you want to trade for Fiat, just look for a good exchange, do your KYC and sell it. It is the safer way. You would still need to pay taxes. There is no way to make money legally without telling the government. You should do everything in a legal way.

[DdmrDdmr]

<…> Another good option is to send the coins to a mixer to make it more anonymous.
But I'm a bit unsure of this alternative because I want to have the option in the future to show that I sent that coin from A -> B (I own wallet A and B). With a mixer it will be A -> "mixer" -> B and can I show any prof that the transaction from the mixer original was "my coins"? <…>

Not really. The point of a Mixer is to break the traceability of your assets, so you can’t really have it both ways (breaking traceability, but still being able to prove they are the same assets), at least through the blockchain.

If worst comes to worst, and you keep a thorough inventory of all your TXs, you could argue that you did send X to a Mixer and received that same X amount (whole, fragmented, or minus feed/donations/bets in any) back in different addresses, but the blockchain will not support that statement (I don’t know how far IRS or equivalent will go into traceability in case of inspection of a "small fish" though).

[Annisa_crypto]

If you will keep your funds in some hardware wallet then no one will steal your coins until you have shared your private key somewhere. You can trade anonymously if you haven't shared your personal info anywhere means any social media platforms while buy/sell the coins. If you want you can split your fund and keep it in your wallet but try to store all your wallet details safely. Trust the exchange where you had invested before so that there is no risk of losing your money.