Limits for Cashing out Bitcoins

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This topic contains 22 replies, has 9 voices, and was last updated by  askesis 4 months, 3 weeks ago.

Viewing 15 posts - 1 through 15 (of 23 total)
  • Author
    Posts
  • #4245

    Dave
    Participant

    Hello!

    I wonder what do you think is the monthly limit after which Bitcoin ceases to be an easy way to cash out income of an Internet company? Whole sum can be spread through virtual personnel and cashed out via individual cards. I wonder if someone is using Bitcoin to cash out these sums:

    20000 USD monthly
    50000 USD monthly
    100000 USD monthly

    Kind regards,

    Dave

    #4247

    askesis
    Participant

    Not a problem at all, even way more than 100k USD per month.

    You just need to deal with the right brokers. Exchanges are mostly useless for large amounts.

    #4248

    Dave
    Participant

    Can you recommend the brokers? and what do they convert Bitcoin into?

    #4320

    RichardG
    Participant

    Kraken monthly limit for a business is 100kUSD. You can deposit and withdraw USD and EUR. Now USD is accessible to EU customers but using a Tokyo bank (Kraken is using a tokyo bank for non-US customers).

    Litebit.eu has a limit of 35k per day, if I am not wrong. So if you have need of large amounts, you have to use more than one exchange.

    The are card companies like Bitwala and Bitwage where you can charge a Visa debit card and you can send money to other banks. Bitwage has a IBAN number for EU residents.

    Mistertango is using and exchange to sell/buy Bitcoin.

    #4347

    askesis
    Participant

    @Dave

    I’d love to introduce you but the private message function of the forum seems that It’s not working, I have been trying to send you a private message

    #4353

    Martin
    Participant

    Kraken monthly limit for a business is 100kUSD. You can deposit and withdraw USD and EUR. Now USD is accessible to EU customers but using a Tokyo bank (Kraken is using a tokyo bank for non-US customers).

    Litebit.eu has a limit of 35k per day, if I am not wrong. So if you have need of large amounts, you have to use more than one exchange.

    The are card companies like Bitwala and Bitwage where you can charge a Visa debit card and you can send money to other banks. Bitwage has a IBAN number for EU residents.

    Mistertango is using and exchange to sell/buy Bitcoin.

    There is a possibility to get TIER4 for Kraken accounts, same for personal and same for corporate. Limit is then 500K USD per month and 100K USD per day. It is really good option, especially now with chaotic situation around Bitfinex and their lost bank accounts in Taiwan. In many cases it is possible to buy cheap in Kraken or Bitstamp and cash out in exchange, which has Bitfinex pricing. Free money on the table

    #4355

    Dave
    Participant

    @Dave

    I’d love to introduce you but the private message function of the forum seems that It’s not working, I have been trying to send you a private message

    Thank you Askesis…..Yeah – private messages would be wonderful!) – do you think you can send me any info at this email – [email protected]

    #4357

    Dave
    Participant

    Kraken monthly limit for a business is 100kUSD. You can deposit and withdraw USD and EUR. Now USD is accessible to EU customers but using a Tokyo bank (Kraken is using a tokyo bank for non-US customers).

    Litebit.eu has a limit of 35k per day, if I am not wrong. So if you have need of large amounts, you have to use more than one exchange.

    The are card companies like Bitwala and Bitwage where you can charge a Visa debit card and you can send money to other banks. Bitwage has a IBAN number for EU residents.

    Mistertango is using and exchange to sell/buy Bitcoin.

    BTW- Does Kraken offer a way to exchange large subs of bitcoins for physical cash? or maybe you know some bitcoin cards with very large limits?

    #4358

    RichardG
    Participant

    Kraken has a daily limit of 100,000USD. You can deposit and withdraw USD and EUR. US companies with US members can use a US bank to deposit and withdraw, US companies with non-US members or non-US people can use a bank in Tokyo for USD. EU entities and personal accounts can withdraw EUR with a German bank. Setup process for a company is pretty fast.

    Gemini is an option but it takes like 2 or more weeks to get approved, and at the moment, I do not know more.

    Bitwala seems to be a good option for withdrawing, see here https://www.bitwala.io/faq/limits-and-verification-levels/. Plus, you can send money to more than 100 countries.

    #4362

    askesis
    Participant

    Dave, I sent you a message to the email address you posted

    #4368

    RichardG
    Participant

    Dave, I sent you a message to the email address you posted

    Askesis, I would be interested too, my address is [email protected]

    #4369

    askesis
    Participant

    Askesis, I would be interested too, my address is [email protected]

    Just sent you an email

    • This reply was modified 5 months, 2 weeks ago by  askesis.
    #4373

    Martin
    Participant

    Hi Askesis,
    would be interested as well:
    [email protected]
    Thanx

    #4378

    askesis
    Participant

    Hi Askesis,
    would be interested as well:
    [email protected]
    Thanx

    Just sent you an email

    #4446

    cryptoBK
    Participant

    Alternatively,

    What would be a suggested structure that would be acceptable to cash out bitcoins from an exchange into an offshore corporate bank account?

    Any offshore banks that are friendly to receiving wires from bitcoin exchanges?

    What exchanges are friendly to dealing with offshore company & offshore banks? jurisdictions?

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