How do I covert bitcoin to dollars and how do I setup a bitcoin wallet both processes seem very arduous?
You can easily trade your bitcoins for USD at Bitstamp the world’s longest standing crypto exchange.Getting started is easy. Simply register and verify your Bitstamp account and enable Two-factor authentication, which provides additional security of your account. Once your account is verified and secured you can start trading right away.If you already own some BTC you can send it to your Bitstamp account by going to “Deposit” section of your account and select “Bitcoin (BTC)” from the left-hand side menu. Here your own unique Bitstamp Bitcoin deposit address will be displayed where you can send your BTC to. Crypto deposits and withdrawals are free of charge.Once your BTC is credited to your account you can sell it by going to “Buy/Sell”section. Trading fees at Bitstamp are one of the lowest in the industry. Only 0.25% you will be charged when buying or selling cryptos at Bitstamp.Now select the order type you want to place. You can choose between Instant order, Limit order, Market order and Stop order. Also do not forget to switch to the required trading pair in the upper black bar menu of your account.If you want to make a trade immediately, under the current market price select Instant order. Click on “Sell BTC” and enter the amount of BTC you want to sell. An approximate amount of funds you will receive will be displayed and click “Sell BTC”.After pressing “Sell BTC” button, once the order is executed the funds will be added to your account balance.Also, if you trade at Bitstamp it is not necessary to own a hard wallet before you start trading. Rest assured that security of our user’s accounts is crucial to us. We employ best practices in terms of security by utilizing advanced security technologies.I do however recommend you that you only keep a small portion of your assets which you will use for everyday trades on your account and keep the majority safely stored offline in a hardware wallet.For the following reason we support Ledger and Trezor hardwallets. which allow you to simply transfer BTC to or from one of the supported wallets using Bitstamp’s interface.
How do I transfer bitcoins anonymously?
You can't, not entirely anyway. Bitcoin is a public ledger so your transfer will be visible and only as anonymous as your bitcoin wallets. This is why bitcoin is referred to as psudoanonymous.You could try using a bitcoin tumbler, but it would cost you a bit in transaction fees and someone could use a program to sort through the transactions to determine who put coins into the tumbler and who got coins out. Plus you could be getting coins on the receiving end that belonged to someone who had more reason to try and launder them than you. Trading your dirty laundry for someone else's doesn’t make you cleaner.You could try using exchanges to convert it to another currency, then to another exchange, then back to bitcoin, but someone in authority determined to track the transfer could subpoena the information from the exchange. Exchanges often sweep deposits into their cold storage, giving away that the transfer was to an exchange. Likewise the transfer out would be from their hot wallet and identifiable as being from the exchange.You could meet someone in person to sell your bitcoin for cash. Localbitcoins.com allows users to advertise in person cash trades. Using a VPN, burner phone, etc. you could get a fairly anonymous trade, assuming that you don't get robbed.Perhaps the best way is to use NiceHash and spend your bitcoin on renting mining power. Nicehash would be able to tell that the bitcoin they received was spent to mine at a particular IP/url address to a particular wallet, but otherwise there would be nothing linking the newly minted bitcoin back to your original bitcoin wallet.Personally I don't even try to obscure my bitcoin activity as there hasn't been much of it for years and I pay my taxes (I'm mostly in ethereum these days). Instead I want to appear as above board as possible. Check out the 9 digit vanity address!1ALFREDBotU4xCJ4hhbjndrMPtGyrXB2om
How do I deposit a large amount of cash without getting in trouble?
If this is the first time you have credited a large cash amount (and I mean US$/ GB£ Notes) in to your account, particularly if your transactions in the past have been small, be prepared for questions, not initially by the cashier, but later when the voucher processing stage.The bank will take the money over the counter purely for safety sake (walking around with a lot of hard cash is very dangerous) may not place it in you account, but in a special suspense account for inspection. If it is electronic funds transfer, such as a Telegraphic Transfer or CHAPS payment, which has an audit trail, there are unlikely to be questions.When my late father passed on, I received a significant (for me) legacy, I notified my bank that the money was coming in from a solicitor and it was as a result of my father’s legacy. Further that there were going to be a lot of high value out-bound transactions.:To pay off my mortgage and second Charge over my houseTo buy a carPay a series of large debts (average £10K each)That gave them notice that the unusual transactions were known about and were not suspicious, particularly given that they were going to happen within about 10 days of the money coming in to the account, to be sent out again. It indicates to the bank that there is no money laundering.The safest way of depositing a large sum is by:CHAPS/BACS/ Wired Funds Transfer (TT); with the exception of BACS “real time”.Bankers Draft, payable to you, or marked “Bearer”. That is a “cheque” drawn on the bank of issue from their reserves, so in effect a guaranteed payment. The term bearer means that whoever holds that draft is entitled to the money and can demand payment in an alternative form, whether that is Gold, Precious materials including commodities, like oil, precious stones etc. and of course currency notes. Again the last one far from safe.
How can I send money from a Bitcoin wallet to a bank account?
You need an serviceprovider that accept to receive bitcoins and let you withdraw to your bank account.You may find a list of EMI providers here List of EMI and Digital Banks which can help you to archieve this. Just take a look at each of them to find the one that fits your needs.
What is the best method for cashing out $1,000,000 worth of Bitcoin to a European bank account quickly and easily?
You find someone that is willing to buy $1 million in BTC, and wire you the money.This is less difficult than it looks because a lot of the holders of large amounts of BTC are well known. Second Market and Pantera Capital would be worth talking to. Once it becomes obvious that you do in fact have $1M of bitcoin and that you are legitimate, people will start talking to you *very* quickly.Also if this is not a hypothetical question, and you really want to cash out $1 million in bitcoin, send me a message. I know a friend of a friend of a friend of a friend that will do it for you, and I'll send you some e-mail addresses.