With Coinbase clamping down on users, I’d be interested to know how people cash out.
Feel free to omit any details you don’t feel comfortable sharing - and if you don’t know what to share, better to share less.
I’d be interested to know:
- What service(s) are do you use to convert crypto into fiat?
- What’s the greatest amount you’ve cashed out at once, or in a short time period?
- What Country are you in?
- Have you ever had funds taken from you due to regulations?
NOTE: In the interest of protecting newbies, DO NOT INCLUDE LINKS. Newbies: DO NOT TRUST ANY LINKS.
I got very annoying questions from my bank once after a couple of “irregular” transactions though.
The Dutch banks are pushed by the government to do invasive, and privacy killing, aml checks.
And these weren’t even really large transactions, related to reputable exchanges only.
That said, it looks like they accepted my explanations as they didn’t close my account.
Same here. Some time ago transactions to send money to Binance didn’t go through. Contacted them to ask why and the reply was Binance, crypto, unsafe, bla bla bla. Told them i knew what i was doing and after that they approved it. That was the only time i got questions.
Now using Coinbase to cash out mostly and sometimes Bitfavo, never had any problem with them (yet). Using ASN bank.
Using ASN here too, they threatened to close our account if I wouldn’t reply within a couple of weeks. Saw it too late as we were on holiday. It made me quite nervous, as there was no way I could reply in time. Of course it would likely be the same for any other bank.
They never denied any transaction, but I never transacted fiat with Binance, only Kraken and Bitvavo.
The handling by the aml department was a fucking mess by the way. They lost the private documents I sent them using their highly secured “black box”, as they called it. Later they somehow found back the documents somewhere on another PC, while they initially promised the documents would never leave their “black box”.
Incredible.