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transferring large sums of money $5 million into banks/EMI

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itheone

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Jan 7, 2018
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#1
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Hello all,

I am looking for some advice, i have a friend who has recently taken over his dads real estate business with large sums in bank account, now he is wanting to invest $5 million in crypto currency after it has had a huge decline and believes it will recover within 6 months to double his money.

with that being said, what is the most appropriate bank or EMI's to use with maximum privacy for this? as it is a large sum will he have to break the amount down to smaller amounts in order to not face problems?

any input is appreciated, thanks guys!
 
#2
itheone said:
Hello all,

I am looking for some advice, i have a friend who has recently taken over his dads real estate business with large sums in bank account, now he is wanting to invest $5 million in crypto currency after it has had a huge decline and believes it will recover within 6 months to double his money.

with that being said, what is the most appropriate bank or EMI's to use with maximum privacy for this? as it is a large sum will he have to break the amount down to smaller amounts in order to not face problems?

any input is appreciated, thanks guys!
Click to expand...

Buy a hardware token, and verify to tier 4 @kraken.com. You should be able to buy $5 million and sell more.
 
#3
Hi, because you already have your funds in a bank there is no privacy.
The only alternative is a P2P exchange like Localbitcoins, Bisq but there are definitely smaller volumes than you need. But nobody wants a verification from you.

Simpler, just find a guy who wants to sell .. or accept no privacy and use exchange like Kraken.
 
#4
Mark34 said:
Hi, because you already have your funds in a bank there is no privacy.
The only alternative is a P2P exchange like Localbitcoins, Bisq but there are definitely smaller volumes than you need. But nobody wants a verification from you.

Simpler, just find a guy who wants to sell .. or accept no privacy and use exchange like Kraken.
Click to expand...

You want to sell the bitcoin at a certain point in time. If you have bought $5 million via kraken that is a hell of a lot easier ..
 
#6
Milky Moon said:
Buy a hardware token, and verify to tier 4 @kraken.com. You should be able to buy $5 million and sell more.
Click to expand...

Thanks for reply milky, i have checked their site and it states business and high volume individual traders account can be opened, would i be able to open an account with them with darks for privacy? i was unsure of this as i believe they act like any other EMI and many EMI's are backed by banks.
 
#7
Mark34 said:
Hi, because you already have your funds in a bank there is no privacy.
The only alternative is a P2P exchange like Localbitcoins, Bisq but there are definitely smaller volumes than you need. But nobody wants a verification from you.

Simpler, just find a guy who wants to sell .. or accept no privacy and use exchange like Kraken.
Click to expand...

Hey mark, thanks for your input, he has the money in a business account without his name being attached, i was thinking we setup a cyprus or other offshore bank account to reserve privacy then buy bitcoins from the offshore bank account, but can they be opened with darks to reserve anonymity ?

Bisq is great for anonymity along with localbitcoins subject to finding the right person, but the amounts are to small, he is wanting to purchase in large amounts to then flip at a profit when the rate of btc goes up.
 
#9
itheone said:
Thanks for reply milky, i have checked their site and it states business and high volume individual traders account can be opened, would i be able to open an account with them with darks for privacy? i was unsure of this as i believe they act like any other EMI and many EMI's are backed by banks.
Click to expand...

Well you do not use the darks for privacy.

If you have, as you state, $5m on the bank, there is no need for 'added' privacy: you do not want the "added privacy" as you will need to exchange back into fiat and for those sums you need to have the paper trial.

Using darks with $5 m or parts thereof is also "not very wise". Hickups will occur and the need for verification will increase, being unable to fullfil KYC/AML requirements means loosing your hard earned money.
 
#11
Milky Moon said:
Well you do not use the darks for privacy.

If you have, as you state, $5m on the bank, there is no need for 'added' privacy: you do not want the "added privacy" as you will need to exchange back into fiat and for those sums you need to have the paper trial.

Using darks with $5 m or parts thereof is also "not very wise". Hickups will occur and the need for verification will increase, being unable to fullfil KYC/AML requirements means loosing your hard earned money.
Click to expand...

what are darks used for if privacy is not one of the main advantages?

we want to slowly sell back the coins when at a decent rate, no paper trail is needed, an option is to close the EMI / bank account after purchase of coins.

Im confused as to why there would be any hickups as verification should have already been carried out by then?

further, is it viable to open an offshore bank account with nominee director to make the transfer so his name is not shown just the company ?
 
#12
itheone said:
what are darks used for if privacy is not one of the main advantages?

we want to slowly sell back the coins when at a decent rate, no paper trail is needed, an option is to close the EMI / bank account after purchase of coins.

Im confused as to why there would be any hickups as verification should have already been carried out by then?

further, is it viable to open an offshore bank account with nominee director to make the transfer so his name is not shown just the company ?
Click to expand...

Tipically any transaction over 10K euro's will need some form of paper proof. Doing 10k transactions daily will get you a phone call (if you are lucky).
 
#14
would it not be possible to setup a company attached to bank and have the bank be in receipt of funds under the company name, with no personal names presented, thereafter to carry out purchase of bitcoins on big platform.

also to facilitate this, to also purchase an "off the shelf" company and bank account already setup to move the process along faster and under the radar given the company and bank would already be established.
 
#15
itheone said:
would it not be possible to setup a company attached to bank and have the bank be in receipt of funds under the company name, with no personal names presented, thereafter to carry out purchase of bitcoins on big platform.
Click to expand...
Th problem is that the receiver bank may know that you get the money from an BTC broker and block the money!
 
#16
Admin said:
Th problem is that the receiver bank may know that you get the money from an BTC broker and block the money!
Click to expand...

That would be the last step in the process, but then it would be in smaller quantity's around 10k a time.

The process in steps would be...

1. send $5 million from a bank account to another bank account preferably a business bank attached to company, not sure if i can use a EMI here as not confident they are reliable enough.

2. use business bank account to purchase $5 million in BTC.

3. sell BTC when at a decent rate for smaller amounts of 5 - 10k, with payments going to new bank account or emi.

Would like to do the above with maximum amount of privacy and efficiency, any tips highly appreciated.

Thanks !
 
#19
yes its legit, however i want to reserve maximum privacy while doing this, preferably behind a company and nominee director, we can provide details of the business sending the funds and the reason payment was made, but then after use the funds to purchase bitcoin and a few alt coins in large quantities.

Thanks
 
#20
itheone said:
yes its legit, however i want to reserve maximum privacy while doing this, preferably behind a company and nominee director, we can provide details of the business sending the funds and the reason payment was made, but then after use the funds to purchase bitcoin and a few alt coins in large quantities.

Thanks
Click to expand...

Company and Nominee director still makes you the UBO that needs to be identified by the bank.
 
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