How the fuck do you even cash out large amounts of crypto

What are you going to do with basically thousands of kg silver and gold?

>holding crypto/fiat in an exchange
ccn.com/quadrigacxs-wallets-empty-150-crypto-missing

Yeah you can do that, but what happens when the owner exit sca- i mean dies and loses all the keys

Can you deposit your crypto into USD-Coin and just trickle it out into USD as needed and avoid huge taxes?

he will cast a golden dildo and he will shove it up his ass, thats the only real use of shiny boomer rocks

This is the result of dumping your millions all at once.

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OTC services.

circle.com/en/trade

>what are multiple bank accounts
>what is insurance
You can pay to insure more than 250k

It actually fell to 10 cents not 13 dollars.

NO!!! the glowniggers will fuck you in the ass.

ofc you can, just make sure each check is below 3k

is it mongoloid day today?

>1,000 kg of gold
>45 million worth of crypto
>what do i do

Unless you are using the most incompetent and corrupt bank, the money shouldn't be in your account long enough for the bank to go bust and wipe out your holdings. If you have a lot of money from liquidating cryptocoins, you should immediately buy U.S. Treasuries in multiple brokerages as a means of holding cash. You can then take your time to figure out what other assets you want to put the proceeds into.

>1.000 kg of silver
>500k worth of usd
you can kys if you cannot even comprehend a single sentence. fucking op said he has millions and you advice him to buy gold AND silver. go end it right now.

1) contact coinbase and request a weekely withdrawal limit of 1-5 million USD or EURO. 2) transfer 1-5 million USD worth of BTC to coinbase and sell that shit for cash carefully 3) initiate a transfer to your linked bank account 4) call you bank immediately and tell them that you have millions of USD coming to them presently and why. offer to show them a paper trail explaining where this money comes from 5) pay your tax 6) buy comfy life and neet

kek you’re the brainlet foreign POS that asked what to do with gold/silver, not me you absolute moron. I told OP to buy gold to cash out into real money.

Care to elaborate? What’s sites? What vendor will go crypto to gold or silver without using fiat as an intermediary?

sdbullion.com

use bitmex to hedge small amount 100x

What about just cashing out the profits, holding until you have to file, paying out your dues, and keeping the remainder like a squeaky clean citizen?

cant believe more people didnt know about this, i used silvergoldbull dot ca the last bull run, got 50 ounces of gold . u can take it to any jewellery store and theyll buy it out right at -10% spot price,

Dude what?

There's multiple exchanges that you can cash out as much as $5k per day.

Unless you have like $5 million in crypto, this really should not be a drawback for you.

It tells you to confirm the price per coin when you go to withdraw.

Like what are you concerned about? That your small sell order will change the price?

Oh Jow Forums

You can sell a few millions over the counter (check OTC markets like Genesis) but you need to open an account in a private bank because they will insure well over $250k.

I plan to do this but what if I end up with something huge like 7 figures? Wouldn't depositing that much money in my checkings account set off red flags?

>red flags
unless youre planning on tax evasion, why in the fuck would a bank not allow u to deposit a huge sum of money? it works in their favor...

Anything over 10K does in the states, but so what? Pay the stupid tax on it and move on. Biz frowns at the idea, but it makes sense to me..

If I deposit 7 figures, won't my account be freezed because of suspicion of money laundering?

also,assuming you dont already have that much money in crypto yet but might in the future, at that point most likely you will be able to use crypto to pay for things anyways, so why cash out? at that point fiat will be useless

Send half to me so it doesn’t look sketchy.

>most likely you will be able to use crypto to pay for things anyways
I highly doubt the US Dollar will collapse anytime soon, doomsayers have been saying this for decades.

There was an UK user who cashed out half a million, got his account frozen and woke up to the cops bashing into his door. Oh yeah, and he paid his taxes beforehand. Banks allow you to put the money in but good luck trying to get it out

This is what I'm afraid of, would it be prudent for me to contact my bank first explaining how I got the money before depositing in my checkings account to pay my taxes?

Paid the tax on it before cashing out and still got tapped? Wow....

I believe he contacted the bank as well but tbf Brits can be retarded ( I live here), some other user in this thread said to do that though. Talk to the bank manager, explain the situation and show proof. Also get an accountant and possibly a lawyer.

collapse? maybe not, but i can guarantee you you will be paying for a coffee with crypto by then...unless u already have millions in the market, which probably means your bank is already use to seeing that kind of money in your account...unless youre a really early adopter which would mean you wouldnt be asking this in the first place

>you watch it drop by 90%

If we are talking a few million just do it through Coinbase and eat the tax. I’ll be worth it for the low stress

Probably the most realistic idea in this thread and what I will most likely do. Probably get a tax attorney as well to scheme the best way to pay the lowest amount of tax. Call me a tax cuck or whatever but 10-15% is a drop in the bucket if I'm pulling out a few million dollars. Especially when I've built my portfolio to its current state partially through the help of probable super scammy and illegal pump and dumps. Better just pay that little bit than have the IRS come after me eventually. If you guys want to be super edgy and cool and devise other ways of avoiding tax because you're not good goyim like you claim then be my guest.

The gold idea someone mentioned also isn't bad if you're taking out lower to mid size amounts. Just don't sell for cash and then try depositing 50k randomly into your Chase checking account

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Cashing out crypto means you admit that fiat is superior and that crypto is just a get rich quick scan.

>cashing out crypto

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do it on conebase or gemini you fucking brainlet

Don't worry, crypto will never get a point where you will cash out a significant amount. Those bags, those are yours, forever

Smaug

why cash out? stake them and register your node as a business. Pay income tax on staking yield but your original nest is untouched

You dont. Its a massive ponzi scheme ploy, and when this explodes, people will be left penniless out in the cold. Its sad, really.

>what can u do with a load of gold u cant sell it rite ? how u cassh out kr.ypto to benk accont

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>buy valuable metals
>get paid a massive amount of cash
>deposit $9500 into several accounts each month
>merge them to main account or leave it
>IRS can't do a thing

Ironically, it seems that America really hates to see people make it out the ditch. Even my totalitarian nanny state UK doesn't give much of a shit if I told them I held crypto for several years and made cash. Cashing out is actually easier in the UK.

Also, look into Swiss accounts, they're not what they used to be but you can still pretend you got inheritance or something from a distant relative.

If that's a thing in your place then move to a country where the authorities don't give a fuck about your crypto gainz.

If you want to buy anything relevant like property you have to put the money in a bank account, so:

1) there's no way out from paying taxes
2) why the fuck risk your money in an exchange by making small $5k withdraws? as if the bank wouldn't realize

this shit is what gets people in jail

im from spain and if you cash out crypto im sure they ask for the origin of the money on an eventual audit so you can't say "lol inherited" or some shit

also stacking smaller amounts over a period of time is detected by their algorithsm

theres no way out

holy shit what is the backstory? i would have a heart attack if those fuckers bashed my door as if i was a terrorist. why did they do that if he paid taxes?

then there's the thing with dead exchanges, shitcoin trading, and so on

who here doesn't have loss of track records on trades?

for instance, you put 1 BTC in shitcoin exchance, trade 1 BTC around in a bunch of trades, end up with 1.545837 BTC, shitcoin exchange dies and you didn't save history of trades... how do you justify the gains when audited?

>cashing out at all
5 years from now you'll be able to use crypto for anything from shopping at walmart to buying a home.

Lmao thats not going to happen and If that happens you will need to pay taxes. You think gov is retarded or what.
Best thing to do if you want to avoid taxes is to go to a tax heaven. Problem is if you're American you would need to say good bye to your citizen.

SD Bullion won’t report crypto purchases. Could you just get gold and go to every gold store in the area and sell like $9,000 worth of gold to each one?

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Sounds like fiat.

There are several ways to cash out.
Reach out to mining companies, suppliers of btc and ask them if they can price you on your withdraw.
They'll quite literally write you a cheque and in person while you make the transfer.
Not complicated. There are also exchanges that offer otc buy and sell.
Anybody that claims you can't cash out, send me yer bits I can have the cash in my bank account in less then 24 hours.

sent :)

buy $1mil worth of Amazon gift cards

have fun cashing out your scam coins - get taxed raped lol

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get off my board, anime faggot

if you want to dodge taxes legally in the us you do this

move to the cayman islands or the caribbean or a tax free country for over a year. document everything, your travel, bills, etc. if youre from usa and live there for over a year then you dont have to pay us taxes on crypto the next year. sell it the next year. not sure how to sell immediately but im sure there is a way without taxes. if you have a ton of money hire a tax attorney to consult you for an hour

You can't cashout

>deposit $9500 monthly in several accounts in your name
>thinks the IRS wouldn't notice

Thanks for the laff, m8. This is called structuring and it's how you get your funds seized without any type of hearing.

You don't

How stupid are you

I would need to post and address for you to send to ding dong.

Seriously, send me 5 bucks worth and I'll show you how quickly from the time I receive 5 bucks worth to how quickly it end up in my bank account.

19ogZ5gQTMDg7oUKhrjNnBW6jR5vrpp9L3

I'll even return the 5 bucks minus fees just to show how stupid any of you are that claim you cannot cash out.

How did those btc or eth millionaires get rich then?

gov will simply pass laws that legally require implementation of tax smart contracts. Or something like that, there's many ways to do it.

Pic related

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You’re adorable

STABLECOINS

Search the reddits for this swiss crypto consultant guy specializing in cash outs. The whole package includes introduction to a swiss private bank which you'll definitely need

he was probably laundering money

Honestly it's possibly a hold at these prices. No one wants to hold past 1330 in current conditions but once the economy continues it's cool off its going to rally enough to cover the spot price and fees. 1400 gold is definitely possible in the next two years and if shit really hits the fan 1600 like 2011

>banker for 17yrs
this is how you faggots do this.

a1 Fly to panama(not sweden, not the cayman islands. Those countries will and do report back to the Usa about your finiancials. Theirs a list of countries that don't look them up.)

a2 Otc sell order through kraken or some exchange direct into your account

a3 Your going to link your accounts from panama to the usa

REMEMEBER ANY DEPOSIT INTO ANY UNITED STATES ACCOUNT OVER $3,000 WILL REQUIRE THE BANK TO FILL OUT A SARS REPORT - THIS ALLOWS THE GOVERNMENT & ALL BANKS TO CONDUCT AN INVESTIGATION AS TO WHERE THE FUCK DID THIS COME FROM

EVEN IF YOU ALWAYS DO A 3k+ DEPOSIT IT WILL TRIGGER A SARS REPORT. DO NOT BE THE DUMBFUCK WHO DEPOSITS 3K+

EVEN IF YOU DID 2.6k AT NOON AND 8K LATER YOUR FUCKED IF YOU DO THIS ACROSS ONE OR TWO BANKS YOUR FUCKED THEY WILL TAKE YOUR LICENSE PLATE THEY WILL TAKE PHOTOS OF YOU THEY WILL EVEN NOTE IF YOU ARE WEARING EXPENSIVE CLOTHING OR NOT THIS WILL BE DONE ON THE FUCKING SPOT

ANYTHING UNDER 3K IS FINE. REMEMBER THEIR ARE COUNTRIES BESIDES IRAQ NKOREA THAT UNDER NO CIRCUMSTANCES WILL SEND INFO BACK TO THE USA DO YOUR FUCKING RESEARCH. DONT CHOOSE SOME COUNTRIES THATS SO CORRUPT THEYLL ROB YOU

THAT OR PAY TAXES

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What is the origin of that money? Where does the gold come from? Any evidence of inherit contract? No? Thanks. We will get into further investigations and freeze your account in the meantime.

How does the structuring algo works? Since usually the limit is 10k. How many small deposits, like for your e.g. 3k, in what exact time frame can you do? Does a weekly or monthly 2k deposit trigger anything?

PS: interested in the system

1 Limit has been reduced down to 7k at some banks, 3k is the standard. A deposit of 7k at chase will trigger a filling holding your money for 30days pending the investigation

2 You can make as many small deposits as you want if it's under 3. I would recommend 2.7

3 Weekly or monthly doesn't matter. It's that the banks will be required by law to report back. You could do 2.9k every 3-4 days

Any deposit within the day that's over 3k triggers a sars report. They will look at your spending history and deposit pattern.