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Author Topic: How to buy and sell large amounts of bitcoins through bank accounts?  (Read 3067 times)
Tabata11
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March 19, 2015, 01:13:31 AM
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Hello,
I'm planning on buying large amounts of bitcoins through bank wire and sell them through bank deposits. How do I go about doing that without running into any problems? I live in the US if that helps.
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March 19, 2015, 02:32:07 AM
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You generally should not do this unless you have a business bank account. It is almost certain that you will be conducting 'business' if you are trading large amounts of bitcoin and as a result it would not be appropriate to use a 'personal' bank account.

If you plan on using exchanges (and are not performing arbitrage) then you should simply keep funds on the exchange (although you should acknowledge that those funds are at risk that the exchange fails/gets hacked ect.

If you are planning on buying low from others and then selling high to other traders then you should try to use cash as much as possible (IMO) - but still follow AML, etc laws/regulations

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March 19, 2015, 09:49:19 AM
 #3

I used to buy on BTC-e with bank account with no problem. No any kind of problem. Was very simple.
Now when I have Bitcoins I don't buy em anymore. I try to invest in projects and sell so I am making some. It's not that I can make a million bucks but I'm fine with what I make.

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March 19, 2015, 07:10:44 PM
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Hello,
I'm planning on buying large amounts of bitcoins through bank wire and sell them through bank deposits. How do I go about doing that without running into any problems? I live in the US if that helps.

I think most of the exchanges should give you the option to allow you to do that.
Bistamp and BTC-E are some known ones. But do not try and withdraw all the cash together from the exchange, as it might tip the bank off about something only to raise unnecessary suspicions.

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June 17, 2015, 03:24:43 AM
 #5

Hi,

we are a regulated bitcoin exchange, based in HK, with segregated bank accounts in Europe. You can process large transactions on our exchange using TTs for USD and HKD, and sepa transfers for Euro.


Check out our exchange: https://gatecoin.com

Talk with us on reddit: https://www.reddit.com/r/gatecoinexchange/

Follow us on Twitter: https://twitter.com/Gatecoin
desticy
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June 17, 2015, 08:29:22 AM
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I think it's easy, you just find an exchange which support wire deposit / withdraw, and that not difficult to choose. 
look here https://bitcointalk.org/index.php?topic=695082.0

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gatecoin
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Gatecoin.com - Trade BTC/ETH/REP/DGD/1ST/SNGLS


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June 17, 2015, 01:23:41 PM
 #7

we actually have a business account, under our company name, gatecoin limited, and a user segregated account, under Gatecoin Limited CLT name. Our bank obviously now what we are doing.

That said, it is pretty exceptional and very few exchanges have such partnerships, as 99% of banks refuse to open bank accounts for such activities.

That said, for an individual, trading from a personal bank account is perfectly legit.

Debit cards are expensive, ACH can occur chargebacks for the exchange, thus TTs and cash deposits are the best solution.


Check out our exchange: https://gatecoin.com

Talk with us on reddit: https://www.reddit.com/r/gatecoinexchange/

Follow us on Twitter: https://twitter.com/Gatecoin
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June 17, 2015, 01:46:48 PM
 #8

well it has been opened for more than a year now and we have processed over USD1m in transactions over the past 5 months.

I personnally know one of the exec of that bank so I would know if they are to shut it down

Check out our exchange: https://gatecoin.com

Talk with us on reddit: https://www.reddit.com/r/gatecoinexchange/

Follow us on Twitter: https://twitter.com/Gatecoin
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June 17, 2015, 01:56:28 PM
 #9

Register and you will see Wink

unfortunately we cannot accept US based customers yet

Check out our exchange: https://gatecoin.com

Talk with us on reddit: https://www.reddit.com/r/gatecoinexchange/

Follow us on Twitter: https://twitter.com/Gatecoin
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June 21, 2015, 05:22:30 PM
 #10

i use my personal account, and i do run in to some problems now and then, i usually move atleast 5k Dollar for Each transaction back and fourth(usually more then 10 times per day), its becoming a huge problem for me....i live in sweden

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June 21, 2015, 06:13:26 PM
 #11

Have a question
Can we really do that .
Are there btc banks.

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Amph
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June 21, 2015, 06:53:59 PM
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Have a question
Can we really do that .
Are there btc banks.

no there aren't the op was talking about the possibility of transfer a great amount of fund from the exchange to his bank account, without facing some kind of problem
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June 23, 2015, 10:08:29 PM
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All that is available for USA when it involves bank deposit are coinbase and bitstamp
noel57
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June 30, 2015, 10:38:55 AM
 #14

Hello,
I'm planning on buying large amounts of bitcoins through bank wire and sell them through bank deposits. How do I go about doing that without running into any problems? I live in the US if that helps.
There are other factors concerning this, are you buying and selling and don't care about the profit for example arbitrage, if it is just to buy and sell and you live in USA, simply register with coinbase and complete their verification process, you will not have any problem.

Twipple
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June 30, 2015, 03:59:12 PM
 #15

Hello,
I'm planning on buying large amounts of bitcoins through bank wire and sell them through bank deposits. How do I go about doing that without running into any problems? I live in the US if that helps.
There are other factors concerning this, are you buying and selling and don't care about the profit for example arbitrage, if it is just to buy and sell and you live in USA, simply register with coinbase and complete their verification process, you will not have any problem.

Buying or selling or arbitrage doesn't make any difference in this case. At the end banks might be the ones giving problems as most of them are anti-bitcoins and in the past have known to shutdown accounts involved with bitcoin.

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