How do you sell a million dollars bag of crypto? Would you trust exchanges?

[rodel caling]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

Binance is trusted exchange existing into the world of crypto currency no need to worry for that mate, but of course I do not like to blame you, I advise wfor you do not sell your crypto coin in a single transaction if are worrying to your investment to become lose. And aside form bunence you swll your crypto in a different exchange with have reputatiin example I recommend is poloniex, Hitbtc, kurcoin etc. just research first what exchange the best to use in your location.

[Chika08]

I will trust an exchange little bit but will ensure I have a cold wallet and keep dumping it small small till I clear off everything but not to save all on exchange.

[leowonderful]

Some other sites also have some sort of tiered verification system that limits how much you can transact or withdraw at one time or within a certain timeframe, so make sure you're properly verified on whatever reputable exchange(s) you're choosing to use beforehand. Certainly do not use any sort of exchange that seems shady in any way, and stick to ones that are reputable and have been well-established. I've done relatively large withdrawals and transactions through exchanges like Coinbase Pro before with very few problems.

I would also suggest using limit orders to scale out to save money on fees if you're trying to cash out a large amount of crypto and if you've got time. Market orders usually cost quite a bit more than limit orders, so take note of that.

[drachman]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

Do you want to sell for fiat? If yes, then you have no other option but to verify your identity and even then I will not trust any exchange to give your money, you have to sell your coins in a slow way, that way if the exchange ask you even for more information they will only have access to a small amount of your holdings, it is not the most efficient method but it is the only way you can cash out such a huge amount of money in a short amount of time.

[gurunanakji777]

If I were you I don't plan to sell all in one shot. I will sell in some parts and we have to trust the exchanges where we will sell our coins. All 3 exchanges you mentioned are good exchanges but personally I will give more priority to binance for the huge amount of transactions. I have more trust in binance.

[Zeke_23]

If I were you I don't plan to sell all in one shot. I will sell in some parts and we have to trust the exchanges where we will sell our coins. All 3 exchanges you mentioned are good exchanges but personally I will give more priority to binance for the huge amount of transactions. I have more trust in binance.

I do agree, dividing the crypto that you will sell in the market is much better than selling it all at once, all exchanges that has been discussed is trusted exchange, but it is better to avoid the risk.
It is also to avoid being questioned if he were to convert it on fiat, some banks may question and freeze the fund if legal documents was not submitted.

[irixo10]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

To be sincere, this is a huge amount and must be handled with all carefulness. Considering the fact that risks abounds I think it is far better splitting the money across most top exchanges and selling as small as possible. No exchange is trustworthy or safe, we only try our best to play along. So split your funds across various exchanges, it's better that way.

[angrybirdy]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

To be sincere, this is a huge amount and must be handled with all carefulness. Considering the fact that risks abounds I think it is far better splitting the money across most top exchanges and selling as small as possible. No exchange is trustworthy or safe, we only try our best to play along. So split your funds across various exchanges, it's better that way.

Considering the popularity of big exchange such as binance, I think it is enough to trust it. It is true that with this huge amount of money, we should be careful. However, if we talk about the big exchange, I will trust and will risk my money, binance has been using by many crypto traders, I can't imagine that by using binance its user will encounter any issue.

[asus09]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

To be sincere, this is a huge amount and must be handled with all carefulness. Considering the fact that risks abounds I think it is far better splitting the money across most top exchanges and selling as small as possible. No exchange is trustworthy or safe, we only try our best to play along. So split your funds across various exchanges, it's better that way.

Considering the popularity of big exchange such as binance, I think it is enough to trust it. It is true that with this huge amount of money, we should be careful. However, if we talk about the big exchange, I will trust and will risk my money, binance has been using by many crypto traders, I can't imagine that by using binance its user will encounter any issue.

I think there are not enough for an exchange market to buy your million dollar asset of coin, because have limited maximum assets for trading and selling on exchange market, although you separated with many exchange market but not enough for selling your coin, you have sell step by step of your billion coin, maybe sell with half your money assets first.

[Novatech8]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

The highest amount of bitcoin i helped sold was 10k and i sold them at once on binance, i think its one reason why binance compulsory KYC for traders, when your amount is too huge you have to go through KYC, i trust binance unlike other exchanges

[poodle63]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

To be sincere, this is a huge amount and must be handled with all carefulness. Considering the fact that risks abounds I think it is far better splitting the money across most top exchanges and selling as small as possible. No exchange is trustworthy or safe, we only try our best to play along. So split your funds across various exchanges, it's better that way.

Considering the popularity of big exchange such as binance, I think it is enough to trust it. It is true that with this huge amount of money, we should be careful. However, if we talk about the big exchange, I will trust and will risk my money, binance has been using by many crypto traders, I can't imagine that by using binance its user will encounter any issue.

So many big players have already believed in binance. binance has a very good reputation and that's a suitable place for OP to trade his money. Some people may still get some issues with binance but just report your problem if you are getting some technical problems. I believe binance support will fix it asap.
What we should remember to verify our identity will be a better idea consider about if we have lost access to our account and we can recover it.

[lienfaye]

Its a huge amount so you have to be extra careful when selling it.

It would be better to not go all in and sell it by portion in reputable top exchanges.

But you have to abide in their kyc to be able to withdraw your money in maximum amount as possible and choose a high level of security to make sure your account is safe.

[kanayaTabitha]

Its a huge amount so you have to be extra careful when selling it.

It would be better to not go all in and sell it by portion in reputable top exchanges.

But you have to abide in their kyc to be able to withdraw your money in maximum amount as possible and choose a high level of security to make sure your account is safe.

Yeah it's better to sell it by portion because when we do direct sell with more than 250k USD with the same price, i'm sure our order won't executed instantly because the buy order with the same price is not enough to process the order. And if we do an instant sell we'll experienced loss because there must be lower buy order that we executed and our sell price will go down.

[Mianae]

You don't sell in a day because some exchanges has limitations to daily transactions. You can also split the money into some tiny portions and sell it on different exchanges not just a single exchange.

[sazonk]

Binance, Okex, Huobi is a trusted market and has a good reputation today. Actually, for a nominal as big as you mentioned earlier, personally, I would not spend all of it to be entered into the market even if the market has a high reputation and security level. Because there are no definite laws in this world to protect crypto assets. My advice is try first to raise your level in the market so that you can be free to withdraw with a very large amount, and again don't put it all in first, try to do it little by little, and you may also make a deposit not only to be amazed at just one market because good market at this time a lot.

[Denreal]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

Well it is possible, but you might not be able to withdraw everything at the same time. Then, if you want to sell, I will advise not to place a sell wall with huge amount, because that will cause panic and might result into dump. It will also affect you, because the amount you calculated and proposed batting might not be possible again.

[ReiMomo]

Just wondering if I want to sell significant amount of crypto, where can I do it ? By significant I mean $250,000+ of crypto.Would you trust Binance / okex / huobi to return their money to you , and how law can protect us from being scammed?

Well, for me Binance exchange is a trusted exchange site, probably they will not let their name down just because of scamming incidence.
Well, I can be able to sell it and look for a trusted exchange but I won't sell it all in one transaction. I will sell it a little by little. Also in my place, I can convert it quickly using my bitcoin wallet. Much better if I will use my bitcoin wallet to convert it to avoid being hacked or scam.
If you are afraid that the exchange might get hacked, don't leave your money there. After trading pull out all your money if you have doubts.

[alyssa85]

I wouldn't trust any if it were that amount. Too big. Unless for an emergency, i'd sell it little by little. Though big exchanges like binance, im sure, have insurances to make their users feel more secure. But as much as possible, i wouldn't want to create a stir by processing that kind of transaction. Well, that's just me since i haven't had that much amount before lol. I don't know if there's anyone here who had that kind of amount to give tips by experience.

This. Patience is the key with selling big amounts.

Not least because you don't want to tank the price and not get the best value out of your coins.

Set your limit sell orders in advance, at an upwards cascading level of prices, and then be patient and allow the market to come to you. Don't just dump your coins on a market order and crash through all the existing buy orders.

[o.ogurlu]

I don't think there's going to be a problem with even a million-dollar sales on strong exchanges like Binance, Huobi etc. However, as a precaution, I sell that much money piece by piece. And I use various top exchanges for these sales.

[cudora]

I would say Binance, because in my opinion it is the leading crypto exchange and there are thousands of people that are holding a lot of BTCs on Binance. I have seen accounts with over 100 BTC on them, so I believe it is a sign of quality and trust.