4 ms·
Ask HN: How do Bitcoin millionaires cash out?
- sharemywin 9y agohttps://support.gdax.com/customer/en/portal/articles/2819552-how-to-increase-withdrawal-limits- https://support.gdax.com/customer/en/portal/articles/2819552...
- olegkikin 9y agoSend the BTC to an exchange. Perform the trade into fiat. Call the bank, warn them a large sum is incoming. Withdraw. Pay taxes. A few million dollars is not a big deal in the bitcoin world these days. GDAX BTC-USD volume is $466 million in the last 24 hours. Bitstamp is another $353M.
- EarthIsHome 9y agoSome exchanges have weekly maximums you're allowed to withdraw or deposit USD from/to. However, you can increase these withdrawal limits and pay yourself out in increments (after you've sold your BTC on the exchange)