Cashing out bitcoin through Swissquote

[nomad999]

Thx one of my clients has 10k bitcoins and he has no idea how to cash them out all at once in a bank as UAE banks don't allow cryptos.

Any large crypto exchange can do this.
Swissquote is interesting because its a big regulated stock/forex exchange so money coming from them wont look like its coming from crypto to a bank.

 

[Singa]

Any large crypto exchange can do this.
Swissquote is interesting because its a big regulated stock/forex exchange so money coming from them wont look like its coming from crypto to a bank.

Yeah man you get it..
Am not yet pulled any large amounts with Swissquote.. The thing with me is i have some crypto position since 2017.. And when i would like to Cash them out thru Swissquote, they may ask me the famous question "what the source of the funds"?
Because i lost the trail.. these funds get mixed up.. Do you have a creative work around to this..?
And i been looking for alternativas the past few days, and i may found the Final Solution to this .. but I am still checking some things on it.. and when i finish i may share it here..

 

[nomad999]

I would buy gold or property somewhere that won't require proof of funds then sell that and you are back on on track from the bank perspective. will cost you a few % but not much choice I think.

 

[Singa]

I would buy gold or property somewhere that won't require proof of funds then sell that and you are back on on track from the bank perspective. will cost you a few % but not much choice I think.

I never thought of this.. I will give it a shot
Where i can buy Gold for Crypto?

 

[nomad999]

I never thought of this.. I will give it a shot
Where i can buy Gold for Crypto?

buying gold for crypto is easy there is a thread here somewhere on this, the issue is finding a provider who won't requires proof of funds on the crypto.

 

[Davis123]

Any large crypto exchange can do this.
Swissquote is interesting because its a big regulated stock/forex exchange so money coming from them wont look like its coming from crypto to a bank.

I missed that reply from you earlier. Nice to know. Thanks.

 

[ash2020]

Yeah man you get it..
Am not yet pulled any large amounts with Swissquote.. The thing with me is i have some crypto position since 2017.. And when i would like to Cash them out thru Swissquote, they may ask me the famous question "what the source of the funds"?
Because i lost the trail.. these funds get mixed up.. Do you have a creative work around to this..?
And i been looking for alternativas the past few days, and i may found the Final Solution to this .. but I am still checking some things on it.. and when i finish i may share it here..

hey did you found it?

 

[Singa]

hey did you found it?

Yeah if you living in US or Europe, this could be a solution for you.
Epay.com
They have OKCoin.com gateway exchange inside so you can Cashout crypto, then withdraw to your bank

 

[hapiswood]

Yeah if you living in US or Europe, this could be a solution for you.
Epay.com
They have OKCoin.com gateway exchange inside so you can Cashout crypto, then withdraw to your bank

is there any option for non-eu citizens/residents?

 

[Singa]

is there any option for non-eu citizens/residents?

Yeah, try Swissquote could be an option..
You can also use Binance P2P platform..

 

[extremedox101]

i signup for Swissquote couple of months ago and after video interview with the compliance account manager he promised to open my account in 2 days but then a week later he indicated our video session was lost. idiot needed to lie to avoid simple fact that my laptop camera feed was low quality

 

[Singa]

i signup for Swissquote couple of months ago and after video interview with the compliance account manager he promised to open my account in 2 days but then a week later he indicated our video session was lost. idiot needed to lie to avoid simple fact that my laptop camera feed was low quality

Don't give up trust me..
I tried the video verification about 12 times.. I trieded it with my phone didn't worked out, then i Used my laptop cam but the quality was too low.. Then i had to buy a USB camera for my desktop PC and went good finally..
The point is just be cooperative with them ... and tell them what they want to hear. And let them see the Passport clearly.. And i will guarantee u that u account will be verified in a week at max

 

[extremedox101]

Don't give up trust me..
I tried the video verification about 12 times.. I trieded it with my phone didn't worked out, then i Used my laptop cam but the quality was too low.. Then i had to buy a USB camera for my desktop PC and went good finally..
The point is just be cooperative with them ... and tell them what they want to hear. And let them see the Passport clearly.. And i will guarantee u that u account will be verified in a week at max

i understand your point . thanks mate .
i only hated that he lied to make me accept his excuse . apart from this fact he moved on quickly till the end of verification but when he asked for close look in passport pages the quality was seemingly low and it doesn't stop him .. you was rejected 12 times ?? i think this great desire to pass verification .
apparently if it was swiss bank i would have been more constant to spend effort .

 

[Singa]

i understand your point . thanks mate .
i only hated that he lied to make me accept his excuse . apart from this fact he moved on quickly till the end of verification but when he asked for close look in passport pages the quality was seemingly low and it doesn't stop him .. you was rejected 12 times ?? i think this great desire to pass verification .
apparently if it was swiss bank i would have been more constant to spend effort .

No, i had about 12 FAILED try, because of the low camera quality.. As i told i had to use my phone camera, laptop, pc... Etc

 

[Nasters]

I think, better to open a trading account than a forex account to get the bank account, but:

https://en.swissquote.com/online-trading/pricingsafe custody fees: 0.025% quarterly (min 15 CHF, max 50 CHF)***
*** Except otherwise stated in a specific message to your attention

if there are no values, nothing is charged ?

 

[Nasters]

Do you know that @Singa ?

Thank you very much

 

[mike400]

Yeah, try Swissquote could be an option..
You can also use Binance P2P platform..

Hi, does crypto cashout to Swissquote still work? (can't find Bitcoin in their quotes)

Their fee is 1%?

 

[JohnLocke]

Hi, does crypto cashout to Swissquote still work? (can't find Bitcoin in their quotes)

Their fee is 1%?

That's a good question, before I go through the hassle to signup with them it would be nice to know if they still deal with BTC. Wonder why they won't but now the question is raised I get doubts.

Looking here
https://en.swissquote.com/crypto-assets
They still show the BTC logo so I assume there is no issue with bitcoins!

 

[smedley08]

Transfers from Bitcoin exchanges in HK to local HK bank accounts works quite well, no questions asked

Please can you elaborate on this? What kind of amounts and which HK banks, if you don't mind me asking. I've heard conflicting stories from several people, stating that they've had their accounts frozen by HSBC etc from receiving funds from Crypto exchanges. Many thanks.

 

[mike400]

The point here is if Swissquote use their own banking for bitcoin trading then the bank you withdraw to won't be able to know you are dealing with crypto and and i am hoping will simply assume you are dealing with securities.

What would you provide as a source of funds documents for 6-7 figure amounts (transfers from Swissquote to other bank or a broker)?