Best way for Hodlers to sell their BTC's at new ATH's?

[very_452001]

Whats the best quickest, cheapest way to sell bitcoin for fiat cash at good volume liquidity markets but in a decentralised way?

Theres centralised exchanges like Coinbase or Binance but imagine sending 1000 bitcoins there to sell at the all time high price only to realise Coinbase or Binance hijacks your bitcoins by freezing it in your account and force you to have to go through all that AML & KYC crap by showing your life history in documents they requested from the day you were born. Yes I'm already a verified account holder on Coinbase & Binance so can this shit still happen after being verified on those exchanges? Stories like this already heard by many?

Who has the nerve to even to send even 0.1 bitcoin to an centralised exchange to sell at new ATH facing that risk above?

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[Twentyonepaylots]

Why would you send thousands of bitcoin in centralized exchange if you don't want your information to be disclosed? I mean if I got 1000 bitcoins I'll make hundreds of transaction to avoid being seen at least by these block snipers lol and as far as I know there are limits on account with centralized exchanges that's why they have this verification, I don't know how much exactly but a user who is non verified can only have 1btc in total, for example.

[very_452001]

I was just giving an extreme example.

So the only option to sell is on centralised exchanges??

[Bitcoin_Arena]

There are a few decentralized exchanges where you could sell off a few  of your BTC without having to worry about them getting hijacked

1. https://bisq.network
2. https://localcryptos.com
3. https://hodlhodl.com

But there's a problem
- Decentralized P2p exchanges - No worries about your money getting Hijacked but no volume liquidity but it's possible to sell all the 1000 BTC over time.
- Centralized exchanges - Great volume Liquidity but lots of risks on your money getting hijacked

I would go with p2p marketplaces and then keep selling off my BTC little by little until I finish it up all rather than risk some of it getting locked up.

[CaVO32]

There are a few decentralized exchanges where you could sell off a few  of your BTC without having to worry about them getting hijacked

1. https://bisq.network
2. https://localcryptos.com
3. https://hodlhodl.com

But there's a problem
- Decentralized P2p exchanges - No worries about your money getting Hijacked but no volume liquidity but it's possible to sell all the 1000 BTC over time.
- Centralized exchanges - Great volume Liquidity but lots of risks on your money getting hijacked

I would go with p2p marketplaces and then keep selling off my BTC little by little until I finish it up all rather than risk some of it getting locked up.

Or if you want good liquidity, use several reputable centralized exchanges. Don't focus on one but even the top 10 crypto exchanges is pretty safe for me. But check their KYC requirements as well. Some of them don't require KYC if you will have daily 2-3 btc withdrawal limit. So if you will do that everyday, guess you will be safe. Not only 1 exchange but several of them. Even in kucoin, you can make several accounts but don't abuse their referral features so you will not get in trouble. What I am saying here, is that if you can't do that in DEX because of some limitations, why not use reputable centralized exchanges. Just make sure you are not violating their ToS.

[pankowri]

Selling cryptos had always a reason behind that. If you want to see then you may have many options as I believe. Your $ rate already increased if you notice you will see the change because of increasing the BTC price from the last few days.

It's a big amount, I think you can sell those on creating batch system otherwise your money can be lost due to peoples greediness. P2P service providing from a reputed exchange can help you to deal with. Because I already using it. In a centralized exchange, your fund's transfer will be a risky thing for this big amount. P2P will be preferable to use for dealing such big amount

[sheenshane]

There should be a minimum amount that you will allow to withdraw depend on your account level verification.  You can sell a big amount but you can't withdraw it at once just because of the minimum amount that they allowed per verified user. It should be limited the amount to withdraw per day, per month, and your annual withdrawal. It norms in exchange to freeze and ask you again a verification if you have traded a big amount and where did you come from the money, a solution for that is to withdraw little by little.

So the only option to sell is on centralised exchanges??

Nope!
There are too many alternative ways to buy and sell Bitcoin without centralized exchange and some examples are given above.

• P2P exchange
• Bitcoin ATM
• Payment processor (just like buy on amazon and pay Bitcoin)
• DEX's

[Bitcoin_Arena]

There should be a minimum amount that you will allow to withdraw depend on your account level verification.  You can sell a big amount but you can't withdraw it at once just because of the minimum amount that they allowed per verified user. It should be limited the amount to withdraw per day, per month, and your annual withdrawal. It norms in exchange to freeze and ask you again a verification if you have traded a big amount and where did you come from the money, a solution for that is to withdraw little by little.

Even when withdrawing below the required minimums depending on the verifications level. Exchanges can easily block funds and come up with an extra verification request such as video calls and much more detailed information such as one's source of income and occupation.

Now imagine someone just got lucky maybe with trading and accumulated such an amount of BTC but is unable to prove his source of wealth or bitcoins. The trader's bitcoins could get locked up for nothing.

[Hallmader]

No, of course not. You can avoid using centralized exchanges altogether. If you wish not to disclose any of your personal information then do not use centralized exchanges unless you intend to just limit your transactions in the specified amounts which the exchanges are allowing for non-KYC users. If you are selling a lot of Bitcoins, better use P2P than decentralized exchanges. DEXs have lower volume. It might take time for your orders to get fully filled.

[cryptoaddictchie]

Now imagine someone just got lucky maybe with trading and accumulated such an amount of BTC but is unable to prove his source of wealth or bitcoins. The trader's bitcoins could get locked up for nothing.

Well make sense then the only way to sell those are into dex. People like these are very much often nowadays and I am referring to scammers. OP valid point of arguement is quite interesting. No one in their right mind to sell of a bulk bitcoin on an ATH on a centralized exchange unless they can confidently defend why they have that kind of money on their wallet. However, it is his right not to disclosed any more information should he tell he won on a lucky trade or get a prize on a raffle? It's all about being consistent. If the HODLer has no alleged claimed of fund coming from a scam why would you get scared.

[jossiel]

That's for real. It does happen in exchanges and even if you're verified but you have sent a huge amount to sell on their exchange, they might ask you for some follow-up verifications or requirements to fulfill that order.

Except for the methods given above, there's also OTC that you might in your area. But that's not the most convenient way of selling. I'll choose p2p, atm (accept the high fees) and those exchange hodlhodl and bisq.network.

[maydna]

If I have many bitcoin in my wallet, I will not sell for a big amount in all exchanges, whether CEX or DEX, because that will make the alarm sound. Perhaps, I will sell some bitcoin and send it to my bank account, and I always try to avoid the alarm that can make the exchange and the bank suspicious. But I will repeat to sell the bitcoin in the other days because if I do it at once and with a big amount of money, that will not be good for me.

You can sell your bitcoin in the CEX or DEX or even to sellers around your city, but I suggest you not to sell it at a big amount of bitcoin because that will make many sides will aware, and perhaps, they will check your account. We need to play safe if it's related to big money, even if we legally earn that money. But that is up to you, and I hope you know what is best for you, and don't forget to think twice before you want to withdraw your bitcoin.

[acener]

For a big transaction like what OP is trying to ask us I think it should be done OTC so it wouldn't be seen or make any BTC dramas,
Or maybe do it little by little but it would cost too much fee if you want to stay anonymous.
I believe that those big transaction are staying hidden from the trading sites they usually do it OTC.

[TheUltraElite]

I get the point that the OP is trying to make. If you live in a country where government has made it clear that crypto transactions are not to be done, dont be the one trying to be smart by breaking the rules, you will end up in trouble and thus dont sell it at this point - your only chance is to wait it out till your government becomes more lenient.

On the other hand if there are no such problems, selling your holdings gradually, in fractions at every considerable highs should be a good approach. Get your KYC done on a exchange located in your country (if possible) that is reputed and running for long.

End of the day the authorities will know how much you earned and will tax you on it, you cannot escape that if that is what you are intending to do.

You can also go for p2p exchanges but good luck finding a buyer when the coin is at ATH.

[Johnyz]

Then sell your bitcoin to someone you trust for since the market can't be trust base on your explanation. Well, I don't agree on this one because Binance offers a great service to us, all you have to do is to check everything about your transactions and make sure that you're dealing with the legit site if you didn't hide nothing then don't be scared and I'm sure there's a big WHALES using Binance.

[very_452001]

Why would you send thousands of bitcoin in centralized exchange if you don't want your information to be disclosed? I mean if I got 1000 bitcoins I'll make hundreds of transaction to avoid being seen at least by these block snipers lol and as far as I know there are limits on account with centralized exchanges that's why they have this verification, I don't know how much exactly but a user who is non verified can only have 1btc in total, for example.

A bear market can come on suddenly meaning for example those 1000 bitcoins at ATH prices of 20k could drop down to 1k on the next day so selling it slowly in hundreds of transactions is not viable otherwise you can make a loss due to markets outpacing you. Timing has to be quick when it comes to selling and buying.

For a big transaction like what OP is trying to ask us I think it should be done OTC so it wouldn't be seen or make any BTC dramas,
Or maybe do it little by little but it would cost too much fee if you want to stay anonymous.
I believe that those big transaction are staying hidden from the trading sites they usually do it OTC.

What is OTC? also is there OTC in main cities in UK like London or Birmingham or is it online?

There are a few decentralized exchanges where you could sell off a few  of your BTC without having to worry about them getting hijacked

1. https://bisq.network
2. https://localcryptos.com
3. https://hodlhodl.com

But there's a problem
- Decentralized P2p exchanges - No worries about your money getting Hijacked but no volume liquidity but it's possible to sell all the 1000 BTC over time.
- Centralized exchanges - Great volume Liquidity but lots of risks on your money getting hijacked

I would go with p2p marketplaces and then keep selling off my BTC little by little until I finish it up all rather than risk some of it getting locked up.

Is Uniswap P2P or a decentralised exchange and is Uniswap better than the ones you list above?

With the decentralised route am I only limited to sell for USDT tether. Can I sell for my localised fiat currency in my country?




Help anyone?


Hi coming back here what's the best way to sell bitcoins backed up by good volume liquidity without using the centralised exchanges route?

Localbitcoins is P2P correct? If so aren't they centralised is some way where they can limit access to your local bitcoins account correct?

You can only exchange btc for stablecoins like USDT tether correct on DEX? What if theres a scandal in stable coins or governments go against stable coins like they are doing to ripple now? That means stablecoins are risky?

 

[moderator's note: consecutive posts merged]