1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
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Yup that's about allYou mean other than an on/off ramp?
@mannyrs13 what up breh! I am getting ready for late 2024 and early 2025 to start taking profits. As I mentioned before I bought crypto back in 2017 and never sold and bought crypto in 2021, 2022 and 2023 and still haven't sold.
But I heard that these banks be freezing accounts in the bull runs when folks be cashing out on Coinbase and moving hundreds, thousands and hundreds of thousands from Coinbase to their banks when cashing out.
A kat online said the best way to avoid this mess is to send the money they cashing out on Coinbase to PayPal and then move the money from PayPal to their bank. Any idea if this works to not have the bank freeze your account and also how have you been cashing out during the bull runs....if you don't mind me asking.
But I heard that these banks be freezing accounts in the bull runs when folks be cashing out on Coinbase and moving hundreds, thousands and hundreds of thousands from Coinbase to their banks when cashing out.
A kat online said the best way to avoid this mess is to send the money they cashing out on Coinbase to PayPal and then move the money from PayPal to their bank. Any idea if this works to not have the bank freeze your account and also how have you been cashing out during the bull runs....if you don't mind me asking.
I am in Texas and sadly we can't get on Binance without a VPN.
I’m not doubting this happened to some/many ppl but fwiw this is the first time I’ve heard of this…for me I was able to transfer money to my bank and had it in there the next business morning/day…the only any horror stories I heard regarding banks in 2017 were folks being forced to close their accounts once banks noticed that money was withdrawn from their accounts to buy crypto…chase and BOA were the offending parties at the time from the stories I heard…but I haven’t heard anything like that in a while…these were all anecdotes tho so I couldn’t verify nor refute them
Yeah I don't know man. I do know this that when I would use Coinbase pro and transfer money from my bank (chase) to Coinbase pro if it was over 500 bucks that shyt would take some times two weeks to appear in coinbase pro. shyt would just saying pending so to get around that I would just transfer lumps of 500 dollars (which is stupid cause I sent 15K to Voyager to stack USD when the site first started and it wasn't frozen). So say I wanted to transfer 3K to coinbase pro I would break it up over 3 days. Transfering 500 bucks twice in one day at say 7 am and then 7 pm over a three day period. That way I wouldn't have 3K just stuck out there waiting for weeks for it to go through.
However when cashing out I don't want Chase or any bank I have freezing my account cause I am cashing out lets say 3K and moving it from Coinbase to my bank. I guess worse comes to worse I can convert my crypto to say USD at coinbase and send it back to my hardware wallet then every day cash out 1,000 USD in 500 increments from Coinbase to my bank account. Hoping they don't flag me.
ya the stories I heard all seemed arbitrary…bcuz there were some ppl who used those same banks at the time and had zero issues…there’s no definitive/concrete advice I can offer…there are folks who transferred 5-7 figure amounts to their banks with no issues but I’m sure there are some who tried to transfer less and had problems…again tho the stories I am familiar with were from 2017-18 and the issues were with bank withdrawals not deposits…despite the FUD a lot of banks have become far more receptive to crypto…you have brokers like fidelity, webull and RH who offer opportunities for folks to invest in crypto so idk how likely they are to freeze your account for taking profit…I personally haven’t heard of it happening tho
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so that way i wont be screwed if chase tries to fukk me over on the deposits???
@Originalman
I use BOA and haven't had any issues so far. Didn't know about the paypal thing. I'm guessing the top banks are safe but there's always potential for fukkery. Could use another cex or even bank/that PayPal method, good to have a backup plan. But I don't know if those issues would even be consistent or common. I usually get my money real quick when I withdraw but I'm pulling out a few hundred and not millions so it's not nothing crazy. Maybe that could affect it. I'd say to try and get the coinbase card, even tho you don't get the cash, still can use the funds if need be. But hopefully these banks don't mess with us or they figure something out to adapt crypto and make sure there are no issues.
I use BOA and haven't had any issues so far. Didn't know about the paypal thing. I'm guessing the top banks are safe but there's always potential for fukkery. Could use another cex or even bank/that PayPal method, good to have a backup plan. But I don't know if those issues would even be consistent or common. I usually get my money real quick when I withdraw but I'm pulling out a few hundred and not millions so it's not nothing crazy. Maybe that could affect it. I'd say to try and get the coinbase card, even tho you don't get the cash, still can use the funds if need be. But hopefully these banks don't mess with us or they figure something out to adapt crypto and make sure there are no issues.
I hear you. Just don't want no nonsense if I am trying to move a crazy number not millions like you said.....but say cashing out anywhere from 20K to 80K. Its like the Mike Tyson saying goes "everyone has a plan until they get punched in the mouth".
Don't want no mess where now its 2025 and my crypto done hit a crazy number and now I am trying to cash out and my bank is freezing my account. But luckily I got a hardware wallet and can just move everything to USDC and move it back to the wallet. Coinbase I believe doesn't charge network fees to send USDC to your wallet from your Coinbase account.
aight so the plan to cash out is send the raw eth to coinbase convert to cash then send to paypal and then send it to the bank...
Yeah they say you can do that. But also brotha Manny says he never had a problem sending the cashed out crypto money straight to his bank.