Let's say you have a large amount of BTC and you

[teosanru]

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

Some people might argue but what basically you are saying is how to do money laundering which is absolutely illegal in almost all the countries. I won't recommend this but in a few cases people have done this using a simple cash deal. The only way this has happened in a lot of cases is when people find sellers for their cryptos in hard cash. This cash can then be used to purchase something in fiat. people use forum to find sellers or other websites like localbitcoins. Another option that many people try is they make multiple accounts in name of their family members which help them to reduce tax burden while converting to fiat.

There are two legal ways which are both bit difficult: one is to convince the chap you are buying something from to invest into Cryptos. Second is to shift to el Salvador with citizenship if you have 3 BTC

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[Lanatsa]

There are many ways of transforming your BTC to fiat. The common way of converting BTC to fiat is by selling it using the p2p method. Finding buyers online or offline will be your choice, both have their own disadvantages such as KYC online and the risk offline. I remembered the last time I traded a large amount of BTC using peer-to-peer offline, I and the buyer meet up in a secured place. Actually, we met at a casino and traded there. He used casino chips to trade my BTC. Law is the reason why we did that and not trading fiat directly.

Good initiative and It can really be done and you are right that  there are really ways but o think that not all would really be that confident and a bit risky on p2p transactions specially offline but if you don't have any choice due to restriction or inability to make conversion then you wont have any choice.

Its a bit of a problem even if you do own big money in amount of BTC. Conversion would be a headache if you do tend to make it on one go and that's why I do agree on some words here that gradual conversion is also a way.

This would surely test out your patience though but since this do talks money then it should be fine for most people.

[Shenzou]

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

Well the only way that i can think of, that wouldn't net you a huge amount of loss in fees by making multipule transactions, i would say is to use sites that have a high amount of traffic/ transactions with large amounts of money/btc for exemple you could deposit in an exchnage and than withdraw it, you could deposit into a gambling site and than withdraw, these are just few exemple of the ones that get a large numbers and amounts of deposits so that your transaction would not be traced.

[taufik123]

Well the only way that i can think of, that wouldn't net you a huge amount of loss in fees by making multipule transactions, i would say is to use sites that have a high amount of traffic/ transactions with large amounts of money/btc for exemple you could deposit in an exchnage and than withdraw it, you could deposit into a gambling site and than withdraw, these are just few exemple of the ones that get a large numbers and amounts of deposits so that your transaction would not be traced.

Deposit to a trusted exchange like Binance will not be a problem and it is recommended, but depositing to a gambling site in my opinion will only be a waste of time. The risk of depositing on gambling sites will be greater, I will stay away from it. Gambling sites are not good if you don't know what to do.
Owning a large amount of Bitcoin and not wanting to be tracked will be very difficult. However, if you never publish the address you use, your identity will remain private.

[BITCOIN4X]

Owning a large amount of Bitcoin and not wanting to be tracked will be very difficult. However, if you never publish the address you use, your identity will remain private.

Some of the suggestion on the main page might be enough to help the OP expand his knowledge if he want to convert a large amount of bitcoin into fiat. Maybe many of us will also think how we sell everything without any suspicion from the government when fiat is withdrawn to a bank account while many exchanges that support fiat require users to complete KYC if they want to withdraw large amount of fund. I think selling partially or gradually is a reasonable suggestion especially if we have completed the KYC on the exchange.

[so98nn]

Not sure if someone suggested this one but you can do one thing in that case:
Hand over your wallet/private keys to the person who is willing to make a trade with you. So this would be someone local or may someone from another long distanced city/county if you wanna be completely private.
This fulfil your criteria of untraced bitcoin. I mean if your BTC never moved from your wallet then they were not traced. Though they get moved by the another party then they will be the owner already.

But, this option would be okay if you distribute the BTC in small chunks to same user or different users.

Also : "May be"

[Hamphser]

Owning a large amount of Bitcoin and not wanting to be tracked will be very difficult. However, if you never publish the address you use, your identity will remain private.

Some of the suggestion on the main page might be enough to help the OP expand his knowledge if he want to convert a large amount of bitcoin into fiat. Maybe many of us will also think how we sell everything without any suspicion from the government when fiat is withdrawn to a bank account while many exchanges that support fiat require users to complete KYC if they want to withdraw large amount of fund. I think selling partially or gradually is a reasonable suggestion especially if we have completed the KYC on the exchange.

You wont really have any choice but to deal with kyc because e even you do say that you would be gradually make out some withdrawal but once the limit had been reached then you would need to comply kyc.


When it comes to limit then you should be ready to comply incase these platforms would be asking out and some documentation.

Do we have choice? Not that much when we do talk about money.

[TheGreatPython]

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

Then you’re going to make use of P2P . This option is available on lots of exchanges, even Binance has a P2P trading on their exchange and you can access it by going to the trade page and selecting P2P. So, it is very much possible to sell your coins and not be traced to an exchange at all.

But, Binance has a limit to how much you can sell and buy on their platform when you’re not yet verified. And you can only break that lint when you’re verified, which means that it has defeated the purpose of being anonymous and having complete privacy. But there are still other exchanges that you can still make use of  for the transactions, for as much as you want to do.

[topbitcoin]

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

If me, have large amount of BTC, as long it is not illegal, i like to show if that is mine. I mean, in case we lose access to it, we still can claim it back if we do KYC for example. Like when forget pass, or maybe anything else that can cause us to don't have access anymore to our wallet. But if not want to traced by exchange, i think save in hardware wallet without any centralized exchange or centralized wallet will be good option because only us who control our coins and trade it P2P like almost everyone said.

[ahoenk]

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

Usualy people will do P2P exchange like you sell your btc to direct person who willing to buy it. Years ago many people used localbitcoin to do this. But today i dont know since many exchanger and i dont need to hide my transactions from my govermance. If you want to buy houses there is website which selling the houses directly use bitcoin in the old day.

[ReiMomo]

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

As most suggested, P2P exchange is the best way to untraced your trsanction on exchange and also, using bitcoin mixer is the best choice before depositing into other exchange.

There are too many ways to become anonymous upon using bitcoin but when converting into cash, that's will the time that you will I guess have a problem if that big amount that what you have said is cashing on time at once. Banks are now very restrictive, they will ask your source of fund and if you are not lucky enough, your fund most likely freezing by them.

[taufik123]

Some of the suggestion on the main page might be enough to help the OP expand his knowledge if he want to convert a large amount of bitcoin into fiat. Maybe many of us will also think how we sell everything without any suspicion from the government when fiat is withdrawn to a bank account while many exchanges that support fiat require users to complete KYC if they want to withdraw large amount of fund. I think selling partially or gradually is a reasonable suggestion especially if we have completed the KYC on the exchange.

in some major exchanges KYC is a must to verify data. But KYC is only needed to make transactions that are large enough, he is above 2BTC for transactions around below 2BTC without KYC can also be done.
Or the safest way is using P2P transactions with trusted sellers.

[perryxi2]

sell it in P2P or collectors in your country, or you can buy Stablecoins and invest in them that's also a good idea.

[awik p]

if you really don't want to be tracked or verify kyc, we can use a trusted exchange where transactions carried by 2 btc don't require kyc, and we can use it with a time lag, so that every transaction is always below the predetermined limit

[sempak]

Let's say you have a large amount of BTC and you want to spend it / invest it / transform it in fiat but you do not want the BTC to be traced to exchanges or to you, how would you do it ?

It's not for me, it's to further my understanding of the space.

I think you can try exchange it to other cryptocurrency multiple times and withdraw it, that's the first thing that came to my mind I think you can do a Bitcoin mixer but I really doubt that kind of services since I see a lot of scams before regarding the mixer that won't send the fund to the receivers address and the likes.

[dmamigo]

Whatever you do, I think the way you want to make this possible will be tough enough as most countries now take cryptocurrency and their transaction seriously as many do not like it. So, as many users suggested, P2P is a good option if you can arrange a cash transaction or else, your transaction will be noticed.

In my opinion, to avoid all the risk of doing so, it is better that you either HODL, sell them if you want to encash but following your countries legal procedure including completing the KYC if it is required.

[Kong Hey Pakboy]

if you really don't want to be tracked or verify kyc, we can use a trusted exchange where transactions carried by 2 btc don't require kyc, and we can use it with a time lag, so that every transaction is always below the predetermined limit

Didn't know that you can do it with a time lag, my friends mostly use mixers and tumblers to have their crypto not taxable in any way and the government in my country don't seem to care about it so they don't have anything to worry about.

[BIN-BIN]

There has always been a problem cashing out a sizeable amount of bitcoin, this is because only centralized exchange offers such services and it requires a KYC which is what discourages many bitcoin holders.

[jossiel]

sell it in P2P or collectors in your country, or you can buy Stablecoins and invest in them that's also a good idea.

I think telling that to invest it on stable coins is inappropriate. They're not an investment but what you're suggesting is a good idea.

But it would still lie down on huge amounts when someone has to withdraw it to cash and take the profit with them. The solution that has been mentioned is for P2P but if there's some other way, it would be splitting it in small amounts.

[DoublerHunter]

sell it in P2P or collectors in your country, or you can buy Stablecoins and invest in them that's also a good idea.

I think telling that to invest it on stable coins is inappropriate. They're not an investment but what you're suggesting is a good idea.

But it would still lie down on huge amounts when someone has to withdraw it to cash and take the profit with them. The solution that has been mentioned is for P2P but if there's some other way, it would be splitting it in small amounts.

^ Splitting into small amounts before you will withdraw is the right answer because when you transfer the fund to your bank account. Do not cash it all at once because the bank will always be suspected of where the source of funds and it will probably you will be suspected of money laundering and worst if the money will freeze in your bank account for the further explanation that you need before it will unfreeze by them. As much as possible, send it little by a little amount into your bank account so that no one will suspect it. Because when you say a large amount, it would be million of dollars amount that you are holding which is a really big amount of money.