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Withdraw of large amounts

  • 13-01-2018 12:19am
    #1
    Closed Accounts Posts: 2,021 lifeandtimes


    Just thought I'd ask here as I can't see and answer anywhere

    Say one of your crypto that you go into from the start make a you a massive amount, say in the millions

    Obviously you need to transfer it too one of the main cryptos and then change it to euros but how do large amounts get done?

    Coinbase themselves have 100k limit on euro accounts which would take 10 days of transactions, how do the millionaires get their crypto back to euro and to their bank account?


Comments

  • Registered Users Posts: 318 ✭✭ h0neybadger
    Registered User


    I’ll let you know how I do it. ;)


  • Moderators, Music Moderators Posts: 19,597 Mod ✭✭✭✭ Mr.S
    Moderator


    Each exchange is different on the limits they set, and full verification would be needed on most. It's a good idea to have full accounts on a few exchanges in case you ever want to get your money out quickly.


  • Registered Users Posts: 712 soirish
    Registered User


    Bitstamp offer cash out in gold.


  • Closed Accounts Posts: 2,021 lifeandtimes


    soirish wrote: »
    Bitstamp offer cash out in gold.

    Interesting, so you can trade your crypto for gold, which is cool but where are you going sell a few gold bars for cash?

    I guess I'm asking as an example, you made 100 bitcoin which makes it just over a million on binance, where could you then transfer that million to so you could withdraw to your bank account in one transaction? Like I said coin base only do 100k from that wallet a day

    Any exchange offer the option to transfer to euro?

    Or maybe we need a bank to get on board to accept transfers of crypto to a bank account and exchange for the equivilant in euro


  • Registered Users Posts: 3,283 ✭✭✭ Bandara
    Registered User


    Interesting, so you can trade your crypto for gold, which is cool but where are you going sell a few gold bars for cash?

    I guess I'm asking as an example, you made 100 bitcoin which makes it just over a million on binance, where could you then transfer that million to so you could withdraw to your bank account in one transaction? Like I said coin base only do 100k from that wallet a day

    Any exchange offer the option to transfer to euro?

    Or maybe we need a bank to get on board to accept transfers of crypto to a bank account and exchange for the equivilant in euro

    Merrion Gold in town, Cumberland Street around the corner from the Alexandra hotel


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  • Registered Users Posts: 1,931 ✭✭✭ Zab
    Registered User


    bitstamp have no limits


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