I live in the UK as many of you know. I believe it is the same in the EU but fairly recently exchanges are enforcing
The Travel Rule on us.
For those unfamiliar see here -
https://support.kraken.com/articles/updates-to-crypto-transfer-procedures-for-uk-clientsTLDR; When you deposit to the exchange in any size over €1,000 they want to know where the Bitcoin came from. Was it from a cold wallet or another exchange or even from somebody else. You better hope it’s not from somebody else or they’re going to ask you a tonne of questions.
Any way, my personal story was I sold a handful of Bitcoin the first time we went over $90,000. The second sale was for 3 Bitcoin. I got an email saying I needed to confirm where the funds came from. I told them a cold wallet and then I received a support ticket saying Kraken were looking into this and will get back to me before my funds are released.
I am curious what happened then. Did they release your funds? How long have they been holding the funds, and when did it happen? I do not trust any exchanges with a large amount of money. I am not sure if you are aware, but I have seen a scam accusation in this forum, which you can check here:
https://bitcointalk.org/index.php?topic=5506545.0The victim deposited 1500 XMR at HTX, which was around 3.1 Bitcoin at that time. He exchanged the XMR for ETH, and they flagged his account and asked for another KYC verification even though his account was verified. After completing everything, they asked for the Source of funds, which is kinda impossible to provide for the guy because, as he said, he mined those XMR back in 2017. So, there is no way he can prove them. The guy was scammed. I hope nothing like this happens to you, LFC!
Just be more cautious when you deal with exchanges. Do not think about the transaction fees much. Make small transactions and do multiple transactions to sell your Bitcoin. You should not trust exchanges with a large amount of money. Just a friendly advice mate.