What is the best way to get lots of cash into and EMI like Wise or Revolut?

[Houdini]

Let's say I have 500K euros in cash. I would like to have some of it deposited into my Wise or Revolut account, but as we all know, that is not immediately possible.

What can be done to solve this problem?

 

[TheCryptoAnt]

 

[Sols]

Deposit the cash with a bank at a branch and then initiate a wire transfer to your Wise and Revolut accounts.

Depending on how clean and well documented the origin of the cash, that's either a trivial process or is going to drain the life essence out of you.

 

[drphantom]

As sols said it's the way to go.

I know that I saw someone inside OCT helping people with such problems, I don't know where it was or if it was inside mentor group or so. You search on google the forum.

 

[clemens]

@JohnnyDoe

 

[CyprusLawyer101]

Cash > Crypto >Fiat in an exchange > Wise

 

[void]

Cash > Crypto

please elaborate this step... let say you sit in your kitchen with 500k EUR in the backpack... what's next?

 

[0xDEADBEEF]

please elaborate this step... let say you sit in your kitchen with 500k EUR in the backpack... what's next?

Find a buyer and potentialy get % on top of 500k in crypto.

However I have only read about this on the internet, I assume it is not possible in real life. ;-)

 

[CyprusLawyer101]

please elaborate this step... let say you sit in your kitchen with 500k EUR in the backpack... what's next?

You make two toasts with honey and two slices of cheese, preferably edam or cheddar. Once you consume it and the fiat is from a legit source, give me a call.

 

[void]

However I have only read about this on the internet, I assume it is not possible in real life. ;-)

not saying it's not possible but definitely difficult and with huge potential of things going south

Once you consume it and the fiat is from a legit source, give me a call.

let say I'm brave/unwise enough to give a call to a guy from the internet forum...
hey buddy I'm John Doe, sitting on 500k EUR in cash in the middle of France, 100% legit, let's make a deal

what next?

 

[CyprusLawyer101]

not saying it's not possible but definitely difficult and with huge potential of things going south


let say I'm brave/unwise enough to give a call to a guy from the internet forum...
hey buddy I'm John Doe, sitting on 500k EUR in cash in the middle of France, 100% legit, let's make a deal

what next?

Obviously the trust factor is of maximum relevance here, however these type of transactions are taking place regularly. A % should be charged for the service and you hand out the cash and have the crypto transferred to you rather silmutaneously. Usually in a public space or hotel. A counting machine may also be used for counting and to check for fakes.

 

[void]

Obviously the trust factor is of maximum relevance here, however these type of transactions are taking place regularly. A % should be charged for the service and you hand out the cash and have the crypto transferred to you rather silmutaneously. Usually in a public space or hotel. A counting machine may also be used for counting and to check for fakes.

I must be a wuss but this is way out of my comfort zone... I hesitate to believe this happens very often (if at all) without solid personal references which brings us back in a circle to the original problem

good luck though and be safe

 

[CyprusLawyer101]

I must be a wuss but this is way out of my comfort zone... I hesitate to believe this happens very often (if at all) without solid personal references which brings us back in a circle to the original problem

good luck though and be safe

Way out of the comfort zone for most
This is not a regular thing for me either, but it is happening regularly.

 

[diatessaron]

This is the type of post that brings unwanted attention to the forum.

 

[jafo]

going to drain the life essence out of you.

Stress is one of the leading all-cause mortality.

I'm going to have a drink now. I need one! I've lost so many college buddies and friends because of stress.

OP, @I'mRobot, listen to @Sols, and remember: If at FIRST you don't succeed, skydiving is NOT for you! ... and neither is trying to convert cash into another form unless you have a proven, time-tested ride-or-die partner who can exchange it for you!

I must be a wuss but this is way out of my comfort zone... I hesitate to believe this happens very often (if at all) without solid personal references which brings us back in a circle to the original problem

good luck though and be safe

Way out of the comfort zone for most
This is not a regular thing for me either, but it is happening regularly.

***THIS*** is how we purchased crypto back in the day on localbitcoins.com.
None of you remember this?

 

[Don]

Let's say I have 500K euros in cash. I would like to have some of it deposited into my Wise or Revolut account, but as we all know, that is not immediately possible.

What can be done to solve this problem?

What kind of notes you have? Mostly 5 EUR or 20, 50, 100, 200, 500?

Is the cash located in the EU?

Where are you located?

Based on that you can find some institutions that can exchange cash to e-money.

 

[void]

***THIS*** is how we purchased crypto back in the day on localbitcoins.com.
None of you remember this?

it was a different story in 2014... and nobody I know was bumming around with 100k+

 

[jafo]

it was a different story in 2014... and nobody I know was bumming around with 100k+

The good old days... I "heard from a few friends" who were buying millions off LocalBitcoins ... but sadly, they later lost them in a boating accident

 

[Alexmorgan]

Wise and Revolut?

Say goodbye to your money

 

[jafo]

Wise and Revolut?

Say goodbye to your money

I'm so glad you have learned this painful but non-obvious truism. Much #Respect!