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Ask HN: How do Bitcoin millionaires cash out?

3 pointsby aecorredorover 7 years ago

3 comments

sharemywinover 7 years ago
<a href="https:&#x2F;&#x2F;support.gdax.com&#x2F;customer&#x2F;en&#x2F;portal&#x2F;articles&#x2F;2819552-how-to-increase-withdrawal-limits-" rel="nofollow">https:&#x2F;&#x2F;support.gdax.com&#x2F;customer&#x2F;en&#x2F;portal&#x2F;articles&#x2F;2819552...</a>
EarthIsHomeover 7 years ago
Some exchanges have weekly maximums you&#x27;re allowed to withdraw or deposit USD from&#x2F;to. However, you can increase these withdrawal limits and pay yourself out in increments (after you&#x27;ve sold your BTC on the exchange)
olegkikinover 7 years ago
Send the BTC to an exchange.<p>Perform the trade into fiat.<p>Call the bank, warn them a large sum is incoming.<p>Withdraw.<p>Pay taxes.<p>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.