Bank account to cash out crypto (medium size amount)

[iknowwhatyoudid]

I would like to cash out 50BTCs, which currently is something close to $600k, in order to buy a property. I see crypto friendly banks to cash out big amounts, like Bank Frick, and many banks to cash out smaller amounts, like Fidor, bunq or N26 (I have account with all these already). Somehow I don't feel comfortable cashing out over half a mill in one of the later banks (especially Fidor, as I read several negative reports about it here), but cashing out to Bank Frick wouldn't make sense if their minimum deposit is already $500k and I intend to use it all to buy a property. Any advice?

At the same time, if I cash out and within days or weeks I transfer the whole sum out, would a bank like Bank Frick "be fine" with it?

Thanks!

 

[Plavivoz]

I dont know about Bank Frick but i would try SEBA.
The bank from where you are from is not crypto friendly?

 

[VESTANON]

I would like to cash out 50BTCs, which currently is something close to $600k, in order to buy a property. I see crypto friendly banks to cash out big amounts, like Bank Frick, and many banks to cash out smaller amounts, like Fidor, bunq or N26 (I have account with all these already). Somehow I don't feel comfortable cashing out over half a mill in one of the later banks (especially Fidor, as I read several negative reports about it here), but cashing out to Bank Frick wouldn't make sense if their minimum deposit is already $500k and I intend to use it all to buy a property. Any advice?

At the same time, if I cash out and within days or weeks I transfer the whole sum out, would a bank like Bank Frick "be fine" with it?

I would like to cash out 50BTCs, which currently is something close to $600k, in order to buy a property. I see crypto friendly banks to cash out big amounts, like Bank Frick, and many banks to cash out smaller amounts, like Fidor, bunq or N26 (I have account with all these already). Somehow I don't feel comfortable cashing out over half a mill in one of the later banks (especially Fidor, as I read several negative reports about it here), but cashing out to Bank Frick wouldn't make sense if their minimum deposit is already $500k and I intend to use it all to buy a property. Any advice?

At the same time, if I cash out and within days or weeks I transfer the whole sum out, would a bank like Bank Frick "be fine" with it?

Thanks!

Can be done but not large sum cashout, you could negotiate with the property reps stating a fixed bi weekly payment schedule based on an agreed amount that would sum up eventually into the total amount.

With the current scenario cashing out one Large crypto volume, could triggers certain alarms...

 

[Gediminas]

I would like to cash out 50BTCs, which currently is something close to $600k, in order to buy a property. I see crypto friendly banks to cash out big amounts, like Bank Frick, and many banks to cash out smaller amounts, like Fidor, bunq or N26 (I have account with all these already). Somehow I don't feel comfortable cashing out over half a mill in one of the later banks (especially Fidor, as I read several negative reports about it here), but cashing out to Bank Frick wouldn't make sense if their minimum deposit is already $500k and I intend to use it all to buy a property. Any advice?

At the same time, if I cash out and within days or weeks I transfer the whole sum out, would a bank like Bank Frick "be fine" with it?

Thanks!

Hey,

If the source of BTC is legitimate, Bankera+Spectrocoin could do the job. Drop me an email if you want my help there.

 

[iknowwhatyoudid]

I dont know about Bank Frick but i would try SEBA.
The bank from where you are from is not crypto friendly?

Thanks, I'll contact SEBA and ask them about their minimum balance/deposit. I'm a resident in the UAE, I don't believe there is any crypto friendly bank here.

Can be done but not large sum cashout, you could negotiate with the property reps stating a fixed bi weekly payment schedule based on an agreed amount that would sum up eventually into the total amount.

With the current scenario cashing out one Large crypto volume, could triggers certain alarms...

Thanks, I thought about that option, it gives me less bargaining power, I'll use it as a last resort.

Hey,

If the source of BTC is legitimate, Bankera+Spectrocoin could do the job. Drop me an email if you want my help there.

Thanks. Source is legitimate and traceable. I know Spectrocoin and Bankera, but as far as I know, it's an EMI, not sure why but I wouldn't want to use an EMI for that amount.

 

[life]

If you are from the UAE there are exchanges still active that you can sell the btc to and have money wired into your bank as long as your coins are clean you should be fine. I read loads of property developers have started accepting btc for purchase payments now there in the UAE so look into that.

 

[CaptK]

If your in the UAE you can cash out locally with a private seller. You can use a lawyer as the escrow between you and the seller.

It's very easy as you can't run away with anyone's money in Dubai. If your both residents even better as you can block each other if there is a funny business.

I did it last week smooth and easy.

 

[iknowwhatyoudid]

If your in the UAE you can cash out locally with a private seller. You can use a lawyer as the escrow between you and the seller.

It's very easy as you can't run away with anyone's money in Dubai. If your both residents even better as you can block each other if there is a funny business.

I did it last week smooth and easy.

Any recommendation as in where to find a private buyer? I only know of localbitcoins and paxful to trade P2P. Thanks.

 

[CaptK]

Any recommendation as in where to find a private buyer? I only know of localbitcoins and paxful to trade P2P. Thanks.

Its not something that is advertised but it depends on where you live.
If your willing to travel then arrangements can be made at banks or lawyers offices.

 

[life]

Any recommendation as in where to find a private buyer? I only know of localbitcoins and paxful to trade P2P. Thanks.

there are buyers on localbitcoin but make sure you deal with verified accounts only and don't send coins first make sure it's a face2face deal and verify the notes if payment is in cash.

 

[HolgerH]

Any recommendation as in where to find a private buyer? I only know of localbitcoins and paxful to trade P2P. Thanks.

I know a private buyer in Dubai if that’s what you are asking?

 

[HolgerH]

Any recommendation as in where to find a private buyer? I only know of localbitcoins and paxful to trade P2P. Thanks.

Mate, I have buyers

 

[life]

Mate, I have buyers

what rates are they paying?

 

[iknowwhatyoudid]

I know a private buyer in Dubai if that’s what you are asking?

Thanks, I'll try the exchange+bank option for now, I find it "safer" despite the hassle.

 

[Untangle]

Don't do it all at once with a single bank if you want to go this way
Personally I would use few banks