Hold up so u mean to tell me this shyt is worth all this money, and u cant cash it out lol.. wtf is the point
You can absolutely cash it out. Nobody would be buying this stuff if they couldn't sell it when they wanted to.
Well thats not true.
It is old, slow, and expensive (gas fees). It takes a while on the PoW system to process transactions. I believe the max that can be cashed out in one day is around 700k, at this time. If you arent part of that pool, good luck. You have to wait until its your turn.
But you will eventually get your money.
There is no max that can be cashed out if you are using wire transfers through coinbase. I sold nearly 1m worth (before taxes) back in 2017. This is what my coinbase account limits screen looks like currently.
Notice that while some forms of deposit/withdrawals have daily limits, wire transfers do not. Typically when you are selling a large amount you don't want to bother with bank transfers. Wire is much better, its faster and most major exchanges don't charge for them, or impose limits.
Lies.
You can cash out on Coinbase with a couple of clicks.
Just make sure you have a sitdown with your bank/whatever beforehand to outline what and where it's coming from.
Yeah this is the big one. The best thing to do is bypass most personal banking institutions by wiring your money from your crypto exchange to your brokerage instead. Fidelity/Schwab/Vanguard brokerages allow you to wire money to them. Sending large amounts from Kraken/Coinbase or any other crypto exchange to a large brokerage always seems to go smoothly. Fidelity doesn't care about where your money came from, but Bank of America or Wells Fargo or some other shyt will sometimes lock your Checking/Savings just for receiving a large sum from a crypto related business. This shyt is grimey and not worth it.
Just send the money to your broker, then transfer from your broker to your checking/savings if you need to. This way, all Bank of America sees is 300k coming from Fidelity, and they don't fukk with you.
the average person CANNOT compete with traders, corporations, and countries constantly tanking and then propping up the price on 50% swings over and over. Sure many people could hold, but the way inflation and the economy has been going this past decade your average person really isn't affording to invest
Listen man... at this point I have watched BTC grow from nickels and dimes to nearly 100k. I understand its hard for many people to come by money to invest. But for this particular situation... its been like
16 years. People have SOME spare money, but I think its fear that keeps people on the sideline watching this. I have watched people say "Whelp, its to high now" all the way from $100 to nearly $100k now.
I mean, damn. At some point, just buy a ticket for the train while its affordable just in case it turns into something real one day.
bylinetimes.com
fortune.com
I was still in high school in 2013damnit...by 2017 shyt was outta reach
