I cashed out over $500K this year using Coinbase, Gemini and Kraken Literally in cold hard cash US $ transferred to bank accounts, waiting to pay taxes next year BTC is very liquid crypto digital asset Did you think it's difficult to cash out of BTC and what gave you that idea?
You can sell bitcoin for USDT or USDC if you do not want to send the money to your bank accounts Maybe you want to transfer to different exchanges for trading, for example if you do not have or do not want to have a banking relationship with Binance but only wish to trade, you can fund the account using stablecoins I think you can do this with TradeStation or IBKR, fund the account with cryptos, but do not know anything about this, just saw a post here on ET However, there is nothing stopping you from selling your bitcoin for USD Now, to be honest, many years ago, this could have been a concern! There was a time banks, like BofA, Wells Fargo, Chase and others and even PayPal would freeze your accounts if you transferred to/from Coinbase or any crypto exchange. That is no longer true as I've been posting on different threads here Visa, MC, PayPal, WF, BofA, BoNY, US Bank, etc, etc, are all integrating with bitcoin and cryptos
It's sad you missed out on huge gains because you got manipulated by the Tether fud There is no Tether issue waiting to play out. NYAG case has been settled There could be a crackdown on Tether and other stablecoins in the future from the US Regulators but you should not live your life in fear of the what if's, imho
I bought Bitcoin in 2011, before I knew how to trade ;-) I now know how to ride the memes and look forward to the next one. There is always another one. Is Bitcoin going to be the last? I doubt it.
Btw I should mention that I have been trading on Binance but I assume that money is imaginary. Traded 1K to 30K over the last year.
So you must have millions of $ worth of bitcoins and you do not know how to cash out? Have you not cashed out any profits???
I don't know why you would think that. You know you can simply send the crypto from Binance to your local wallet and then send to Coinbase and trade for USD, right? You can even use your favorite fud USDT tokens. Coinbase accepts it
I bought it, I also sold it. Back in 2011, buying BTC was like a put option on fiat but of course I didn't understand it like that. I bought it for cents and sold it for dollars. I will try this.
Sorry to hear that. Many did the same, sold for much less You were earlier than me... I posted here something that you can relate to. In 2013, there were reddit posts joking about bitcoin hitting $10K and Wall Street would be trading bitcoins... What a dream that was! Imagine if went into a coma then and woke up now I recommend the book "Bitcoin Billionaires", it will bring up memories of the early days, struggles, hopes and dreams