Exchange for HighRisk company (Binance or Kraken?)

boko

New Member
I'm running a High Risk business. Business is located offshore but managed from EU country.

I accept payments in cryptocurrencies ONLY and want to use an exchange service to exchange CRYPTO to FIAT and transfer it to my personal bank account. The personal bankaccount is located in Georgia (no AEOI implemented). I currently have a personal kraken account (withdrawal limit 20k a month), but ideally I want to open up a corporate account to withdraw higher amounts.

Would one recommend Kraken or Binance to have a corporate account? How is your experience?
 

John Spectre

Building Trust
Entrepreneur
Bitfinex have periodical problem with banks.
I assume to use bitstamp or cex.
Their swift options should be good for Georgia.
 

boko

New Member
Binance does not exchange to fiat. I'd go with Bitfinex
binance.js does ;-)

Bitfinex have periodical problem with banks.
I assume to use bitstamp or cex.
Their swift options should be good for Georgia.
Thanks for your input. I decided to go with Kraken, but just a personal account.

I'm using kraken with great pleasure.
I decided to use Kraken also (personal account). Got verified to tier 3 with 200k fiat withdrawal limits a month, pretty easily. @Admin Are there things I need to be aware of? Did you ever had to proof source of funds? Got your funds frozen to be evaluated? And what withdrawals do you do (amount)?
 
The personal bankaccount is located in Georgia (no AEOI implemented). I currently have a personal kraken account (withdrawal limit 20k a month), but ideally I want to open up a corporate account to withdraw higher amounts.

Would one recommend Kraken or Binance to have a corporate account? How is your experience?
Have you run into issues getting a higher tier for your personal Kraken account? Because with a Tier 4 personal account, you get a default limit of 500k per month. It's a solution that you could probably have tomorrow rather than the headaches that you'll find getting banking for your business.
 
binance.js does ;-)
Surprisingly... Binance.je still has virtually no volume or liquidity.
This will cause a few issues for you, but most of all, there is hardly a few thousand EUR on bid for BTC - so I'd imagine it's pretty much a non-starter for you.

upload_2019-2-28_17-54-16.png
 

7889

Building Trust
Entrepreneur
Just my two cents - Georgia is non-SEPA country so it's impossible to withdraw EUR from Kraken.
For USD, only withdrawal by Etana custody or OTC desk.
Bitstamp withdrawals to Georgia work fine and arrive next day.
Georgia bank will ask for your exchange balance screenshot for incoming transfers over 15000 lari.
 

boko

New Member
Have you run into issues getting a higher tier for your personal Kraken account? Because with a Tier 4 personal account, you get a default limit of 500k per month. It's a solution that you could probably have tomorrow rather than the headaches that you'll find getting banking for your business.
No, I have a personal Tier 3 which seems to be enough at this point (200k)

Just my two cents - Georgia is non-SEPA country so it's impossible to withdraw EUR from Kraken.
For USD, only withdrawal by Etana custody or OTC desk.
Bitstamp withdrawals to Georgia work fine and arrive next day.
Georgia bank will ask for your exchange balance screenshot for incoming transfers over 15000 lari.
You are right. I assumed International EU transfers were available.... clearly not. Terrible mistake. Thanks!
 
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