How Do Long Term Bitcoin Holders Sell Their Bitcoin?

[jerry0]

How exactly are long term Bitcoin holders selling then here?  So most say you should start small and then bigger right?  But you should always do smaller amounts?  So let say you want to sell 0.05 btc total.  Is that fine to send at once or should you go even lower?


The thing is any KYC you get is when you actually cash out via ACH or wire transfer to your bank account?  But if if someone with no history of buying btc on the exchange was to send 0.3 btc, would their account might get KYC just from the transfer and keeping the 0.3 btc there without selling it for usd or cashing it out?



The thing is eventually you will have KYC right?  Like if you have no buy history from that exchange, I got to assume once you cash out over say 10,000 USD worth, is when you get KYC?  The thing is Coinbase does ask you how much you plan on trading when they ask you the questions a while back.  So you could have put that as that was way back.  But when you want to cash out when the btc went up a lot and you want to cash out 0.1 btc or more, well wouldn't you get KYC eventually?

[Out of mind]

Holders of Bitcoin hold their Bitcoin due to the target they have, they are people who has being holding their bitcoin for long-term and they forgot their bitcoin, that's why someone who is aged is not supposed to hold bitcoin more than 3 years, must at times the reason people hold bitcoin is to make profit, and this reason is generally accepted by 80% of people who is into bitcoin investment, why some people the reason why they hold bitcoin is because they are saving their money with bitcoin so the money will not be spend unnecessarily or stole by thief's, so many people have their reasons to hold bitcoin for long-term, but anyone who holds bitcoin have a target if I'm not mistaken.

The main goal of Bitcoin holders is to hold their investment for a long time. Yes, those who are real investors invest and forget so that they do not sell it when they need money. Very few people invest in Bitcoin for a short time, but according to my knowledge, those who plan for a long time keep Bitcoin invested for 10-12 years. If you can be such a responsible investor, then you will definitely achieve something good in the future from Bitcoin. Because if you avoid unnecessary things and keep them away by investing in Bitcoin, then you will definitely get financial freedom in the future. Those who have a long-term plan do not sell Bit quickly, but rather hold it patiently for a long time.

[Mighty97]

If you have been holding Bitcoin for some years now and did not buy from any exchange,  the sure means to cash out today is to go slow and stay complaint.
Begin with little transactions — let's say a few hundred or maybe few thousand dollars, to confirm your account operates smoothly. The moment that works, you may increase the amount slowly. Exchanges usually flag large or unusual deposits, mostly from wallets without prior history.
When your coins comes from sources that is older like faucets, surveys, or gambling sites, then it is wise to make use of blockchain analysis tool to make sure your Bitcoin won't trace back to blacklisted addresses.
If exchanges request for your Bitcoin's origin, be simple but honest, explain that it was earned years back from online activities or early involvement. Do not lie but avoid mentioning gambling directly.
And of course, funds may be frozen temporarily at any point, maybe at deposit, sale or even withdrawal, when something triggers compliance review, hence do not send everything at once.
In brief:
Make use of exchange with reputable feedback, make small verification first, then scale up, be careful while explaining but be transparent, make sure lots of BTC is off exchanges until when you are ready to sell.
This is how long-term holders normally handle it with safety.

[Asuspawer09]

The thing is, you can't really predict the freezing of your account and it might just suddenly happened when you do a huge transaciton on your account, If im the one going to do it, Just to be sure I would take out probably higher than 10k$ as withdrawal, I have a friend that withdraw more than 20k$ in the past and got his account freeze by the local banks, I mean to be fair he was still a student when that happened so its probably expected that a huge income when your still a student is going to be some how malicious on banks, but It got resolve after talking to the bank etc. So just to be on the safe side, $10k is probably going to be a good spot for withdrawal.

I dont think that the exchange is going to be an issue, On centralized wallet like coinbase that is probably where it might get a conflict, we have a lot of similar wallet here in my country, wallet that is similar to coinbase that is approve by the banks and government, And even though it was a legitimate one that is where I encounter a lot of issue and I even have some funds freeze there. So from your decentralized walle,t I would consider transferring it to a legitimate and trusted exchange, probably like Binance, OKX, Bybi,t etc. Personally I would probably spread it to differenct exchage just to be safe and probably to avoid the limit as well. So I think from there the P2P exchange is going to be a good choice, since transferring directly would get a direct connection on your wallet address, that is also why I dont send from exchange to centralized wallet like coinbase. Slowly cashout the money that I need.

There was no actual way to withdraw it all at once since that could easily be a red flag, to be safe just cashing it out on a small amount is going to be the best move for sure.

[jerry0]

Well what is highest amount one should send them if it's their first time sending to an exchange to cash out?  Should one use Coinbase or Gemini?  Does your deposit or withdraw limit probably mean something similar to this?  So let say someone wants to withdraw a big amount like 5k.  Well if their deposit limit was 5k, that should be the max they send?  The thing is withdraws seem to be higher so don't go higher than that? 


When I check Gemini, shows 5k as deposit limit.  Withdraws show as 100k.  For Coinbase, shows 10k as deposit limit.  Doesn't show anything for withdraw limit though.



So if one wants to sell say 0.05 BTC, would it be safe to send that to Coinbase or gemini at once as oppose to many smaller transactions?  The other thing is which exchange charge less?  I'm confused because if you use the exchange, that costs less but you have to accept an order or make an order for someone to accept.

[Cryptomultiplier]

Well what is highest amount one should send them if it's their first time sending to an exchange to cash out?  Should one use Coinbase or Gemini?  Does your deposit or withdraw limit probably mean something similar to this?  So let say someone wants to withdraw a big amount like 5k.  Well if their deposit limit was 5k, that should be the max they send?  The thing is withdraws seem to be higher so don't go higher than that?  


When I check Gemini, shows 5k as deposit limit.  Withdraws show as 100k.  For Coinbase, shows 10k as deposit limit.  Doesn't show anything for withdraw limit though.



So if one wants to sell say 0.05 BTC, would it be safe to send that to Coinbase or gemini at once as oppose to many smaller transactions?  The other thing is which exchange charge less?  I'm confused because if you use the exchange, that costs less but you have to accept an order or make an order for someone to accept.

Some of the ways that is sure to sell your long term Bitcoin is to either use centralized exchanges like Coinbase, Kraken, or Binance.
You can also use over the counter desks services that enable direct trading but these are mainly large financial firms or specialized cryptocurrency brokers who you directly interact with and agree on a specific price.
Lastly, the P2p system is one of the wonders of the crypto currency market that eliminates the need for a third party body. P2p features exist on some of these exchanges and it is a sure way to sell your BTC without much hassle.
 
The fees you would be charged depends on the on chain or lightning kind of network you choose to use and well, you must be charged whether you like to accept it or not but not as would be expected from a commercial bank.

It would be better to sell in small fractions to avoid anti money laundering concerns and KYC requirements issues to state proof of ownership.

[Rikafip]

How exactly are long term Bitcoin holders selling then here? 

Here where I am from (Croatia, Europe), we can still sell via bitcoin ATMs and physcial crypto exchanges without KYC up to the certain amount (1k euro per day)  which is what I am doing. On top of that we have TG groups where people buy/sell directly P2P.

The thing is eventually you will have KYC right?  Like if you have no buy history from that exchange, I got to assume once you cash out over say 10,000 USD worth, is when you get KYC?  The thing is Coinbase does ask you how much you plan on trading when they ask you the questions a while back.  So you could have put that as that was way back.  But when you want to cash out when the btc went up a lot and you want to cash out 0.1 btc or more, well wouldn't you get KYC eventually?

Coinbase has a mandatory KYC so either way they gonna ask you for it, no matetr the amount. Regarding the centralzied exchanges that don't have mandatory KYC,  the bigger the amount you want to withdraw, bigger the chances that they will ask for KYC.

[Powerjumboo]

It's good to send 0.5btc in smaller quantity and not once to avoid the exchange from freezing your account. Since, you haven't used your account for big transactions before, the exchange can freeze it. It's the moment, you want to withdraw it after converting to usd is when I believe that the exchange will freeze it.

The bank or digital wallet you will use to take out the converted USD might also question if an unusual large amount enters or exists your account. They might try to halt your transaction and ask for more information about the source of the money. It’s inconvenient but just do it in smaller batches and preferably in different platforms.

If there is a banking system, then if a large amount of money enters the bank, then the bank will definitely ask the source of the money and where it came from, but I don't think that if a large amount of money is sent to a wallet and received there, then the wallet will ask. Moreover, since the exchange platform mentions that an exchange can transact from 0.0001 BTC to 100 BTC per day, then why would they ask the customers? There is nothing to ask here because they have already mentioned it.

[jerry0]

I did the KYC for Coinbase and Gemini a while back.  It did ask me my purpose of trading and the amount and I put the lowest amount since I didn't plan to trade anytime soon.  That does change later on though.


The thing is does it have to do with trading or it has to do with the amount sent to the wallet or the amount you are going to withdraw to your bank account?  Like if you want to sell 0.05 btc.  If you send 0.05 btc to Coinbase or Gemini.  Then sell it all at once.  Would that be fine?  The thing is... do they look at the amount you receive to wallet or the amount you trade at once or a certain time or how much you withdraw to your bank account?  So you could always withdraw smaller amounts then?


The thing is you will get more KYC the more you trade right?  The thing is could you even volunteer and tell them to KYC now more or something before you send btc to it?

[Marvelockg]

If you have been holding Bitcoin for some years now and did not buy from any exchange,  the sure means to cash out today is to go slow and stay complaint.
Begin with little transactions — let's say a few hundred or maybe few thousand dollars, to confirm your account operates smoothly. The moment that works, you may increase the amount slowly. Exchanges usually flag large or unusual deposits, mostly from wallets without prior history.

true. it is difficult to flag account that does her trading so smoothly using a small amount compared to one that suddenly wakes up after many years of lying dormant and decides to make huge transaction that might attract the possibility of the account being flagged or tagged as one that is of a fraudulent source.

Even when you receive lets say bitcoin while doing signature campaign from a source that is of a questionable reputation, the best thing to do when there is a potential threat to your account is lie low and not transact too often at that instance so you help safeguard yourself from losing all your asset in the process.

[Agbamoni]

true. it is difficult to flag account that does her trading so smoothly using a small amount compared to one that suddenly wakes up after many years of lying dormant and decides to make huge transaction that might attract the possibility of the account being flagged or tagged as one that is of a fraudulent source.

You will encounter this problem when withdrawing your Bitcoin from some centralised exchange. Tier 1 exchange will not restrict or flag your account because you are making a huge transaction after being dormant for a long time. What they will do is to pass you through series of verification for security purposes. If you can provide these details correctly you will have access to make the transaction you want to.

However, it will be stupid to leave your coin in a CEX if you are holder. Why cant they use a wallet in the first place?

[jerry0]

The thing is would there an issue sending the total amount of btc you want to exchange first?  Or does it get flagged at that 1st point though?  Or is it when you sell over a certain amount of BTC within say a day or calendar month?  Or it is when you withdraw to a bank account?  Which of these 3 points is when it happens usually? 


So say you want to sell 0.05 btc for at least 100k btc price so for around 5000 USD.  Any issue with someone sending the entire 0.05 btc from their wallet to exchange?  Then selling it all at once.  Then maybe withdrawing 2000 by bank account and then later on 3000?  The main thing here is these are your coins and they are legit.  It's the thing of them freezing your account for KYC and you don't know how long that is, is what you don't want to happen.  If it happens, you don't want it to be a lot of btc at least to you.



Or it's better to send 0.02 btc and then sell it and cash out to bank.  Then a bit later on do it with 0.03 btc and do the same? 

[PrivacyG]

The thing is would there an issue sending the total amount of btc you want to exchange first?  Or does it get flagged at that 1st point though?  Or is it when you sell over a certain amount of BTC within say a day or calendar month?  Or it is when you withdraw to a bank account?  Which of these 3 points is when it happens usually?

There are so many variables it is almost like a lottery but the winner is the loser.  The Exchange can have a problem with your Money, the Bank can have a problem with your Money, the Government can have a problem with your money.  You can only hope it will never be you who triggers the system.

I would not send the TOTAL amount of Bitcoin to an Exchange.  If you send every thing at once, there is a chance it will trigger the system and if you do not want to answer any question, it may result in a total loss.  If you send in smaller chunks, if you ever trigger the system you can decide to give that chunk up and keep the rest.

On the other hand.  I suspect there is a system that detects this particular behavior and triggers an alarm as soon as you follow it.  I presume most of the people who do not Trust Exchanges would do this little by little.  To them it either looks like the perfect customer to try to punish and seize Cryptocurrencies from or a suspicious string of Transactions looking like you are trying to avoid some sort of legal system that would other wise be triggered if you sent the entire sum at once.  In Europe there are many countries prohibiting for example the spending of a certain total amount in chunks.

Decentralized Exchanges.  You seem paranoid enough in every Topic or reply you write, why would you pick custody and lose sleep at night over care free Non Custodial?

[peter0425]

The thing is, you can't really predict the freezing of your account and it might just suddenly happened when you do a huge transaciton on your account, If im the one going to do it, Just to be sure I would take out probably higher than 10k$ as withdrawal, I have a friend that withdraw more than 20k$ in the past and got his account freeze by the local banks, I mean to be fair he was still a student when that happened so its probably expected that a huge income when your still a student is going to be some how malicious on banks, but It got resolve after talking to the bank etc. So just to be on the safe side, $10k is probably going to be a good spot for withdrawal.

Sometimes even as an adult, they freeze your account and you would have to prove to them that your job is legal and that there’s no reason for them to be alerted. The irony is that banks probably allow actual criminals to use their platforms as long as they pay but for us, everything is so strict.

[irhact]

It's good to send 0.5btc in smaller quantity and not once to avoid the exchange from freezing your account. Since, you haven't used your account for big transactions before, the exchange can freeze it. It's the moment, you want to withdraw it after converting to usd is when I believe that the exchange will freeze it.

Selling in small quantity is a good way of staying under the radar because then the exchange won't know you're a whale selling and they won't freeze your account. There are different reasons though why an exchange can freeze your account and each case might be different. Small withdrawal also gives you some privacy because you can withdraw to different addresses and stay under the radar of trackers. As for how long term holders sells, they're all different because not everyone will want to sell all their holdings one time while some just clear their account like the news I just read few hours ago of a long term holder selling everything. Sometimes I envy this individual because they have made so much profits for investing in Bitcoin when it wasn't this popular.

[jerry0]

So the amount sent to Coinbase or Gemini isn't the main one that triggers it then?  It's how much you sell at once or during a time period?  What about cashing out to bank account?

[RockBell]

It's good to send 0.5btc in smaller quantity and not once to avoid the exchange from freezing your account. Since, you haven't used your account for big transactions before, the exchange can freeze it. It's the moment, you want to withdraw it after converting to usd is when I believe that the exchange will freeze it.

Selling in small quantity is a good way of staying under the radar because then the exchange won't know you're a whale selling and they won't freeze your account. There are different reasons though why an exchange can freeze your account and each case might be different. Small withdrawal also gives you some privacy because you can withdraw to different addresses and stay under the radar of trackers. As for how long term holders sells, they're all different because not everyone will want to sell all their holdings one time while some just clear their account like the news I just read few hours ago of a long term holder selling everything. Sometimes I envy this individual because they have made so much profits for investing in Bitcoin when it wasn't this popular.

when it comes to how they want to sell it all depends on individual decisions either you want to sell small when you make profit or even sell everything depends on how they want do there thing but along the line people are, and and that is one of the challenges people are facing when it comes to sending you assets to an exchange, they will start asking for documents of so many things, and when whales are selling it will defiantly draw some attention so the best thing as suggested is just to sell gradually so that you don't draw any form of attention to your self, for now i don't thing any whale will be selling because the market have been experiencing a slaughter so the market have been bleeding and it will be unwise to sell now.

There holders that when it comes to selling they will self off everything and since its there asset you don't really have anything to say, and if you look at does that are selling everything they have been holding for a very long time, they have made more than enough and when they sell maybe when the price comes down then they buy again everyone have there own way of holding and selling.

[betswift]

Sometimes even as an adult, they freeze your account and you would have to prove to them that your job is legal and that there’s no reason for them to be alerted. The irony is that banks probably allow actual criminals to use their platforms as long as they pay but for us, everything is so strict.

When you have the fence - you decide who goes through it, it's as simple as that.

[Adams0001]

when it comes to how they want to sell it all depends on individual decisions either you want to sell small when you make profit or even sell everything depends on how they want do there thing but along the line people are, and and that is one of the challenges people are facing when it comes to sending you assets to an exchange, they will start asking for documents of so many things, and when whales are selling it will defiantly draw some attention so the best thing as suggested is just to sell gradually so that you don't draw any form of attention to your self, for now i don't thing any whale will be selling because the market have been experiencing a slaughter so the market have been bleeding and it will be unwise to sell now.

There holders that when it comes to selling they will self off everything and since its there asset you don't really have anything to say, and if you look at does that are selling everything they have been holding for a very long time, they have made more than enough and when they sell maybe when the price comes down then they buy again everyone have there own way of holding and selling.

Sure anyone have is on decisions on how to sell is bitcoin when he achieve is goals some can sell small and leave the raise for another long term. But most investors always set different target when how they want to be selling there coin. We can be selling your bitcoin every 4 to 5 years because am sure you won't see the coin the way you buy it definitely they most be a change and you can be profitable even is not that much. They is not specific day to sell your coin if you achieve profit you can sell your coin and if you think you will still leave it for many years you can do and you can be getting huge profits when the prices increase. The way they is not day to invest that is how they is not actually day to be profitable you can get profit at anytime because is always volatile and anything can be possible.

[hero_the_bossman]

when it comes to how they want to sell it all depends on individual decisions either you want to sell small when you make profit or even sell everything depends on how they want do there thing but along the line people are, and and that is one of the challenges people are facing when it comes to sending you assets to an exchange, they will start asking for documents of so many things, and when whales are selling it will defiantly draw some attention so the best thing as suggested is just to sell gradually so that you don't draw any form of attention to your self, for now i don't thing any whale will be selling because the market have been experiencing a slaughter so the market have been bleeding and it will be unwise to sell now.

There holders that when it comes to selling they will self off everything and since its there asset you don't really have anything to say, and if you look at does that are selling everything they have been holding for a very long time, they have made more than enough and when they sell maybe when the price comes down then they buy again everyone have there own way of holding and selling.

Sure anyone have is on decisions on how to sell is bitcoin when he achieve is goals some can sell small and leave the raise for another long term. But most investors always set different target when how they want to be selling there coin. We can be selling your bitcoin every 4 to 5 years because am sure you won't see the coin the way you buy it definitely they most be a change and you can be profitable even is not that much. They is not specific day to sell your coin if you achieve profit you can sell your coin and if you think you will still leave it for many years you can do and you can be getting huge profits when the prices increase. The way they is not day to invest that is how they is not actually day to be profitable you can get profit at anytime because is always volatile and anything can be possible.

Time is of essense in that process, all the rest is done by patience and knowledge about BTC itself.

It's no simple task, but it's the one that rewards you well in the end.