Moving funds from crypto CEX to UAE bank..cheaper, safe and legit alternatives to my current system?

[vehzag]

Thanks for feedback. I guess this is why I recommend an EMI sadly. Take what you can get out here . The other banks in Puerto Rico....well you take the risk over an MT or even Bankera.

Puerto rico banks are good to use with EU company? Risks?

 

[Martin Everson]

Puerto rico banks are good to use with EU company? Risks?

In my opinion no unless you want to avoid CRS. Risks? Look at Euro Pacific Bank and nuff said .

 

[vehzag]

In my opinion no unless you want to avoid CRS. Risks? Look at Euro Pacific Bank and nuff said .

Dont understand what you mean. If my company is in Europe and I am going to pay taxes here
PR banks are not suitable?

 

[MiddleEuroAsia]

@vehzag

Your best option would be P2P/OTC transfers.

 

[Martin Everson]

PR banks are not suitable?

If you open an account in a bankrupt third world place like PR it does not matter where your company is. Your money is not safe ultimately safe is what I am saying. You basically accept the risk in exchange for access to banking you cannot get elsewhere.

https://www.nbcnews.com/news/latino...cy-largest-public-debt-restructurin-rcna20054

 

[vehzag]

If you open an account in a bankrupt third world place like PR it does not matter where your company is. Your money is not safe ultimately safe is what I am saying. You basically accept the risk in exchange for access to banking you cannot get elsewhere.

https://www.nbcnews.com/news/latino...cy-largest-public-debt-restructurin-rcna20054

You think PR is bad place even when they say that they are US regulated? I mean what do you think what is better decision if we need to choose PR banks or EMIs in europe?
I am going to choose many options but anyway what do you think if I have to choose? Thanks
And why CRS matters? Can you explain please

 

[Martin Everson]

You think PR is bad place even when they say that they are US regulated? I mean what do you think what is better decision if we need to choose PR banks or EMIs in europe?

Choose the better regulated place.With crypto anything can happen to the bank or EMI and you want a decent regulator that will at least ensure you get back your money eventually.

I am going to choose many options but anyway what do you think if I have to choose? Thanks

Always just spread the risk around. Don't keep all your eggs in one basket. So if you do end up with a EMI in Europe and a bank account in Switzerland and Puerto Rico your far better of than using any one entity.

And why CRS matters? Can you explain please

It does not matter to you, I was highlighting that people that use PR banks generally are trying to avoid CRS reporting or have shady or high risk activity that no other location will accept them. PR bank is never a first choice for any normal business....lol

 

[yoyodubai]

talk to this people DubaiOTC - Buy and Sell Cryptocurrencies in Dubai
max tx 5M AED tho

Hey!

Do you have experience with using dubaiotc's services? i've only used coinsfera, but there rates are significantly higher.

 

[TheCryptoAnt]

Hey!

Do you have experience with using dubaiotc's services? i've only used coinsfera, but there rates are significantly higher.

yeah no issues with them

 

[yoyodubai]

yeah no issues with them

thanks for sharing.

quick follow-up, do you use their services directly or via binance?

 

[TheCryptoAnt]

thanks for sharing.

quick follow-up, do you use their services directly or via binance?

hey man I did directly, sent USDT to an address they gave me.

I know they use Binance P2P too but I didnt use it with them

 

[yoyodubai]

hey man I did directly, sent USDT to an address they gave me.

I know they use Binance P2P too but I didnt use it with them

awesome. thanks man for sharing.

 

[prototypevenom]

Hey man if you are still looking for this, I have a great great plan. my friend has an exchange and wallet. it can be win win.

 

[DGTLOTC]

How bad were the fee's on the trade with the dubai otc desk ?