Exchanging large amounts of BTC for FIAT

[tjtonmoy]

It's a necessary evil if you ask me. We can't fully trust it, but in a situation like this, we have to use it to our advantage. There are other options available, but it totally depends on their availability.
P2P is the best way to exchange your cryptocurrency for fiat, but it comes with its own side effects and problems. You need a trusted buyer in order to ensure that you get the best value you are exchanging for. And to avoid fraud.
Other option could be ATM. This is the most secure way to get the job done, but totally depend on availability. I heard only few countries have issued crypto exchange ATMs. Not sure if it's available in your country tho.

In the end, if we try to find an easy way, then there's no choice but to trust exchanges.

[1715185586]

1715185586

[Artem Sereda]

In the background of all the exchanges that exist now, Binance is one of the most reliable options. Possible withdrawal through p2p.

[CryptSafe]

Hello everybody.
A friend of mine has a problem and unfortunately they need to exchange BTC for FIAT and then withdraw the money to their bank account.
My friend has an account in Binance, but he asked me if I thought it was safe? Binance in my opinion is, like every exchange, a piece of sh... So, is there any other way to go about doing what he needs? I even thought of sending him FIAT and letting him send me BTC, because I don't plan to sell my BTC soon.
Notes:
1. When I say safe, I mean regarding the fact that exchanges are unpredictable and suddenly they decide to halt transactions. I don't mean anything about taxation etc.
2. He may have to trust an exchange after all, I know and he knows that...

If your friend wants to do a conversion from bitcoin to fiat, that is not an issue. Since you said you want more bitcoin you can do that for him all you Just have to do is transfer to your friend then he sends you the fiat equivalent in bitcoin but let him do the transfer of the bitcoin first but if you trust him not to goof then it depends on your agreement and this type of transaction is called the p2p which was the original means of bitcoin to fiat trade. The other as you have said I the centralised exchange which is the third party and they are exchanger. With the recent activities of the CEX I believe he withdrew and wants to do away with the cex for his own good and safety which is not bad after all that was why Satoshi Nakamoto invented the bitcoin but the government used the cex to get at bitcoin holders. So therefore your intuition is not wrong but if you must have it your way, you must be careful as what you have said seems a big amount of money your friend wants to convert.

[Yatsan]

Still not done yet with exchanges issue? Funny how you did not encourage him to continue his investment but wanting him to trade his holdings into your fiat. I know pushing someone to risk is a bad thing. But for sure you know what's right and not. Binance is one of the trusted exchanger in this industry and your opinion seem to discourage your friend on selling his holdings. This should have been discussed between you two, in a more detailed manner. You should have given him options to take if he's really worried than to let him let go of the chance to make peofit especially with the market behavior right now which is somehow bullish (just too volatile). As you've mentioned, you are also holding, that should be something you should have shared to somehow give him the confidence to continue aiming for profit.

[ringgo96]

I think Binance is a big and very trusted market at the moment, so to exchange Cryoto as fiat currency can be done at any time and currently there is a little tax deduction for some platforms and this we have to give up because it follows the country's regulations, if your friends are willing then never hesitate to use Binance, Because until now I am still safe using Binance and several other platforms.