Re: Liquidate 100+ BTC to USD in the States - Cheapest Way?
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
For Hypothetical question, assuming you have 100+ bitcoins means you must have fair idea about the exchanges at least top one or two. In any case make sure you are declaring your earning from this trade and pay your taxes accordingly. No exchange will allow 100+ btc to liquidate that easily. You may have legitimate reason but from exchange perspective it is seen as dump. And liquidate and withdrawing from the exchange is something any exchange does not like that much. Thus selling huge chunk on one exchange is not possible.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
Next option would be get in touch with people you know personally or through contacts and are in bitcoin trading. Send the raven about the selling of coins at bit low rate than other exchange. f you know the person well then find a escrow who knows both parties for extra surety.
Selling on localbitcoin with well reputed seller could be preferred but they also have their limits marked. exchanges dont have players who purchase 100+s coins on monthly basis.
Thus selling coins at steady pace would be better suited.