Coinbase/Limit-Second Option

[mandy2424]

I'm curious-is there a way to get a higher limit than $15k withdraw per week? Any info would be greatly appreciated-I've had a decent run and want to cash out my BC.

Also-is there a second option besides coinbase for withdrawals?

[mandy2424]

Can you get taxed by sending direct to your checking account?

[MeanPeopleSuck]

I'm curious-is there a way to get a higher limit than $15k withdraw per week? Any info would be greatly appreciated-I've had a decent run and want to cash out my BC.

Also-is there a second option besides coinbase for withdrawals?

1. On limits, yes, my weekly limit at Poloniex is $25,000 per week and at Bitfinex $50,000, not that I ever approach them. Limits even higher than that are possible with additional verification, with Bitfinex offering an OTC option for huge, privately arranged transactions.

2. On taxation: this is a very common topic among crypto traders. Obviously, sending money directly to your bank account creates a paper trail that the IRS can see, so most of us don't consider it an ideal solution. As an alternative, there are ultra anonymous coins designed specifically so nobody -- not the coin's development team and certainly not its users -- knows where a deposit came from or who it went out to. Options in the "Ultra" anonymous crypto category include Monero, ZCash and DASH. Money "cement mixers" are also available, for the truly paranoid. Once the money's completely anonymized, a common tactic to avoid the massive fluctuation in crypto prices is to buy a coin called USDT, or US Dollar Tether, which is specifically designed to always have a ratio of 1 coin = $1, give or take the occasional penny: https://coinmarketcap.com/assets/tether/


3. On second options: yes, Bitstamp.net can send cash directly to your bank account following a verification procedure (although note the taxation issue this creates). And if you're moving that much money around, you definitely SHOULD diversify across multiple platforms -- Bitfinex, Bitstamp, Kraken, Poloniex and Bitmex are all large and well capitalized options -- because crypto trading's not SEC regulated and certainly not FDIC insured. If your platform gets hacked and the site's BTC gets stolen, you get screwed.

It was before my time, but the old timers tell horror stories about the Mr Gox hack: https://en.wikipedia.org/wiki/Mt._Go....E2.80.9316.29

However, I WAS around to get beat up when Bitfinex got hacked last year: https://en.wikipedia.org/wiki/Bitfinex_hack

Given the explosive growth in crypto over the last year, I figure we're about due for another big hack.

[Optional]

I'd probably split it between multiple methods.

Bitpay.com can issue you a Vsa card where you can load 10k/week and withdraw at ATMs, banks or buy a Mney Ordr at Walmart and deposit that to your bank. Or just buy stuff like a regualr card.

Gemini.com is a similar style retail exchanger like Coinbase. With the same sort of cashout services and limits. A little cheaper.

And maybe have a browse of localbitcoins.com and see if you see a buyer that suits you there. It's a person to person exchange.