35 thoughts on “Tips for Cashing Out Crypto Profits – Fiat Exchanges, Withdrawal Limits – XRP BTC ETH LTC & More”

  1. Get the Ledger Nano S to Safely store your Cryptocurrency! – https://www.ledgerwallet.com/r/acd6
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  2. You didnt mention withdrawal fees? Very huge on some exchanges like coinbase wich is simple and you pay 25% loooool. So hard to find right answers to this issues.

  3. Good day , this was very informative . I have a question am dealing with an account manager who handles my crypto currency profile and now its time for me to withdraw and am being told i need to pay for legal fees, maintenance fees and tax, etc now am i unable t make a withdrawal because they requested that i make a deposit first of $5991. is this the standard regulatory for this ? or am i being scammed by my account manager , please assist ?

  4. Are you saying…you can transfer XRP from Coinbase to Uphold and Bittrex and cash-out from all 3 platforms? By the way, Kraken allows up to $100,000 daily withdraw up $500,000 per month on Tier 4 verification.

  5. Great idea Tony!!! I increased my limits on Coinbase and Binance but I didn't think about talking to my bank or preparing for capital gains tax that could be implemented…💰 Thanks brother!

  6. If cash is not required, I am thinking to ‘cash’ some out by exchanging to UST then think about what to do next? Good idea? In the U.K. over around £11460 it will be 20% tax on top of other income tax I believe….

  7. Question!! I didn’t think that Coinbase lets you transfer crypto (into) Coinbase? I thought it once received fiat? Am I mistaken?

  8. Did you mention the Gemini exchange? It looks like I can withdraw $100,000 to my bank account if I use Gemini.

  9. Serious question: if we really believe in XRP, why cash out? We can use Wirex and there will be more payment options in the future. For me XRP is my new money.
    What are your thoughts?
    Thanks for your every day update.
    Greetings from the Netherlands

  10. Here is my line of thinking and I would appreciate feedback on this. Why cash out? I believe the XRP will be better than fiat and eventually replace fiat. My plan is to start transferring my XRP to a VISA Wirex card as I need the funds. (I think that XRP will stabilize at a high value).

    The question I have to any Canadian tax experts out there if I use this method do I need to report this to the tax people as I have not sold the XRP to realize the profits. I am simply using a currency which has gone up in value compared to my Canadian dollar.

    -John

  11. Tony, a great video. Thanks for taking the time out to help us think cashing out through. Especially us XRP holders who expect to do very well during the next bull run. I agree with you that COINBASE is one of the best exchanges to cash out from. Why? Because they have the USD liquidity to handle it with few problems. But you are right for COINBASE the daily limit for withdrawal is $25,000. Okay, I agree with you that we should check with our banks to make sure they don't flag you if you take out let's say $200,000 in $25,000 daily withdrawal over 8 days. But here's another idea I have to add to the speed of withdrawal if you bank slow-go's you and says something like only withdraw from COINBASE and deposit with them $25,000 per week.
    Most of us have a Brokerage account like Charles Schwab, Fidelity etc. and you can include that account in your banking relationships on COINBASE just like you did with your Commercial Bank Account (CHASE, BANK OF AMERICA, ETC.). I've checked with my brokerage firm and it will accept $25,000 per day with no red flags aroused. Brokerage accounts are more used to moving larger amounts of money between accounts for their customers. By the way, for a brokerage account the daily $25,000 withdrawal would go into your money market account.

    Just a thought that might be helpful to all who need to cash out. Remember, you need the amount you owe in taxes to be withdrawn and set aside, unspent first, ready to be paid to IRS and State Treasuries by Estimated Tax filing. Once this is done, all the other $25,000 amounts that are withdrawn are yours to keep and if slow in coming out because of the $25,000 daily limit, well so be it, at least you have taken care of Uncle Sam and your State Taxes first and have that off of your mind.

    Good luck to all XRP holders and holders of all other coins, Frank

  12. Great Video man…great tips! If you bought your XRP from one exchange and have it on your nano now….and when the day comes when you want to take your money out….can you use a different exchange? I really like that UPHOLD site

  13. Great video definitely think this needed to be mentioned for when more money is being made and we’re in the bull run. Just need to figure out the taxes on money made from these investments..

  14. No NO NO No No, I'm not cashing out any more than I will need too. I will be buying my drugs in Crypto soon.
    I will be taking profits and keeping it in multiple wallets as Tether.
    Not going to pay more tax than I need too. And giving the banks my money fuck them! If I want to buy a car of someone I will offer crypto. There are many merchants and businesses accepting crypto and more will follow. And if you don't mind paying handling fee you can always use The living room of Satoshi and pay any bill or any bank account.

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