Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: bambam on January 09, 2018, 09:08:25 AM
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Let's say, hypothetically, I have 10 million dollars worth of crypto and I decide to cash out to fiat. What is the best way to that? First of all, what strategy would you use to exit your alt positions? You shouldn't just dump a couple of millions at once, of course. And then when you have the BTC, how to cash out? Kraken, Coinbase and other exchanges have fairly tight limits. It could take many months or even years to transfer your money to your bank account. And all the time your money will stay in the account which is pretty unsafe of course...
OTC trading
Local bitcoins
any other suggestion ?
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Take a trip to one of the Eastern European countries that don't tax bitcoin?
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india has started taxing crypto converting to fiat 15% tax
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With that sort of volume, I'd probably look at making some property investments with the Bitcoin, then maybe rent them for a decent monthly income. The tax will catch up with you one way or the other though. It's a 'nice' problem to have, but unfortunately I doubt I'll ever have it. I'm staying well within the limits at the moment and it's not through choice.
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OTC markets makes the most sense.. may take some time but when youre talking that much capital even 1-2% is a lot... I really have no other suggestion since anything you do on an exchange level is gonna be tedious or cause a lot of slippage.
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I think it makes sense to take advantage of OTC trading. Many large traders already do so, that's why we see such small volumes on the market.