Post
Topic
Board Economics
Re: Liquidate 100+ BTC to USD in the States - Cheapest Way?
by
soham
on 14/10/2017, 15:09:24 UTC
Hi guys,

What's the best way to sell 100+ bitcoins, in a period of, say 1 month?

It seems like most of exchanges doesn't allow withdraw for people the the State anymore.

Localbitcoin seems to too slow, online transaction with strangers are too risky..

Selling on an exchange and withdraw to offshore account seem to be a good option, but still tricky to get the money back to the State.

Any thoughts?

Just hypothetical, I don't have 100+ btc  Grin

Take my suggestion and don't try to sell 100+ bitcoin in a single trade. It will be a huge risk for you. If you try to do it, you bank will surely report about this huge fund to the regulatory authorities and you will be hunted for money laundering case. If you don't already hold a million dollars in you bank account, you will get few lawsuits against you. Instead first calculate your monthly expense. Lets assume, it is $5000 a month. So try to cash out only what you need on a monthly basis just to be on a safer side and to avoid any unwanted heat.

Localbitcoins is an excellent platform. I have sold more than 5 bitcoins through their platforms. Also they have an inbuilt escrow account facility for a safe trade. Once you open a trade with them, you bitcoin will go into that escrow account. Once you see the amount credited in your bank account you can release the escrow. Till date, I didn't face any issue with them.