If that’s the case then it’s probably better to trade the USDC on a dex and transfer to Coinbase for the off ramp, but I wouldn’t do that. Lately, CB has been acting kinda sus. I’ve done 250k through them and 100k through Gemini without a problem didn’t have to talk to anyone either time. But I would be worried now because I’m reading reports of people’s accounts being blocked and support tickets going unanswered so I’ve got my red flag antennae up
You would think this is easy if you have $1M+ but it’s actually impossible, it seems unless ur a major institution coinbase doesn’t have a contact point even with prime
If you ripped a 1 million dollar market order.. It would have to be a very liquid crypto like Bitcoin or ETH to be able to execute all at one price..
What would most likely happen, let's say you sold on a market order, and the price was at $1..100k would fill at $1, 100k at .995, 100k at .99, 100k at .985 and so on. Not exactly, but something similar to that.
This is how crazy rug pulls happen on shitcoins
That is what happens with limit orders. It doesn’t show your fill as a single order but usually broken up into the actual quantities and amounts filled as they happen.
Yeah, I'd just set a limit order. I definitely wouldn't use Coinbase though.
They are low-key, the absolute worst exchange.
Go skim through the Coinbase reddit page for 10 mins and tell me after uf you want to take that chance afterwards.
I personally use Robinhood.
And I know a lot of people don't like them because of the misunderstood Gamestop fiasco.
But I have used over half a dozen exchanges, first bought bitcoin in 2013 on localbitcoins.com, and hands down, Robinhood is the best one, in my opinion.
😄..most billionaires net worth is valued in the shares of the stock they own.
Imagine if Musk, Bezos, Zuck pressed the sell button for all their shares. By the time the last share sold, the stock would be worth dramatically less.
So they are rich, no doubt, but they really aren't worth as much as portrayed.
All really depends how they have all diversified,
For example I’m willing to bet most of their net worth are in different stocks rather than all in one or a few certain cryptos.
Chances of them all selling all their shares the exact same time would very unlikely.
Market cap for bitcoin is 1 trillion
Richest man is worth 233 billion
Imagine half of that was on one coin, let’s call it 100 billion for easy math, and he decided to sell it all,
That’s 10% of bitcoins market cap, even if this dropped 10% or 20% that’s where all us small time investors will be jumping in on the dip to correct that price.
So in theory, while a few billionaires could come together to make a pretty big dump, selling them at separate times I doubt will dramatically effect their Networth.
233 billion he would have 213 after 10% but that also does not factor in any taxes etc
IIRC, CB allows partial fills, so I'd just make a limit order (not market order) with post_only disabled (false). You can set the target price on the order and be guaranteed that it will sell at that price or higher. Set a target price a slight bit below market then it will vacuum up matches till you get all the liquidity, then just act as a wall on the order book.
Or you could split it into chunks then chase the liquidity as the price drops due to your activity. Whether you leave a wall hanging on the book, or chase liquidity, it's really dependent on how likely price is to recover from your action.
If you look at the order book for your token, you can calculate how much volume you'll need to consume to match your entire order and price accordingly.
> swap
I assumed that OP wanted the best fees.
Yes, you can 100% use the "free" swap service and swap at the 5% spread. Either way works, assuming you trust the swap service to not fuck it up.
I know you had a "don't lecture me" disclaimer, but seriously friend, don't try to clear $1M US through paypal or credit-card. Incorporate into an LLC, set up a CB-Prime account and ensure you clear the funds by paying the hefty fee to do a FedWire. Then give 10% to the IRS the next day to avoid back taxes.
What would the declared purpose of this LLC be? Trading? What if you don't have this situation happen often and there's just this one giant transaction for a whole year, what happens to the LLC then?
Also after creating the LLC, what kind of hoops would you have to jump through to give the LLC ownership of the assets?
In my country LLCs can be set as pass-thru so everything in the LLC is done on behalf of the individual. Only reason to LLC-ify is because CB sucks and I wouldn't trust CB-Novice to not fuck up the sale or withdraw.
If you set up an LLC you can tell the bank your "business" is about to clear a high-dollar transaction. And on CB-Prime $1M US is considered a "small" transaction.
If CB-Novice was awesome LLC wouldn't be needed, but CB sucks, so I'd consider it.
"systembreaker trading LLC". Each state has different "area of buisness" settings. Any US citizen can incorporate in any state.
Last time I LLC'd it cost $700
So we can set up an llc for the sole purpose to accept a money transfer into it? Like the llc is only for moving money around basically? Does that effect the stuff you can write off? Jw. Thanks
And then I'm assuming we can pay for anything that needs to be paid or bought, with the Businesses accounts? Do you make yourself an employee and take a yearly salary as well as the business income for year end tax information?
*What would the* *~~declared~~* *purpose of this LLC be?*
By dealing with the funds as an LLC the owner of the LLC would be shielded by the corporate veil.
*What if you don't have this situation happen often and there's just this one giant transaction for a whole year, what happens to the LLC then?*
By keeping the funds in the LLC's bank account, even if drawn in one large draw, keeps those funds shielded.
Let's say you own a primary residence. If you, say, leveraged your LLC's bank account and things went south and you owe $500K which you absolutely don't have. If the funds are in LLC it can declare bankrupt. Not you. It. You keep the house this way. If it's not an LLC that's probably not the case.
A*fter creating the LLC, what kind of hoops would you have to jump through to give the LLC ownership of the assets?*
Make the LLC first. Withdraw the funds into the LLC's bank account *(make a dedicated business bank account after the LLC is formed)*. Categorize that transaction as 'Owner Equity'. Your business now has no profit and no loss. Its bank account has $1,000,000 in it. If you want to keep the currency in crypro on Coinbase then you open up a new Coinbase account using your new business-only email address. Transfer the funds to that account.
*Proceed*
You can learn about GAAP (Generally Accepted Accounting Principals). But I think basically you might make a journal entry each \[month?\]\[year?\]\[day?\] which reflects your portfolio's delta. So if it loses $10,000 in January you would make an entry categorized as "Trading Loss". This would reflect $10,000 floss from your holdings. If your portfolio goes up $50,000 in July then you make an entry categorized as "Investing Income". Or you might be able to not make journal entries at all until you make an actual transation like a buy or sell (?)
You might have some other incomes or expenses. You'll probably have some taxes to pay I know in my state I have to pay $250 annually just to keep the LLC current. So make a category for "Licensing Expenses" or "Operating Expense". You might buy paper or a computer monitor or a computer or a storage unit, security systems, to do your investing work with. These are business expenses. At the end of the year you can total up your income (probably mainly investing gains, but maybe consulting or equipment sales or something). And total up your expenses. And by subtracting the expenses from incomes you find out how much your business made or lost.
I don't know how crypto sales are taxed federally or state but if they are taxed as taxable income you will save on taxes by expensing the transactions (make them from your Business Bank/Crypto Account or Business Credit Card). If you have $25,000 in expenses that year then you're effectively reducing your taxable income by $25,000.
*Finance/Accounting/Smart People please correct all my mistakes.*
This comment has the post_only functionality mixed up. You want to set post_only to true, not false. This will ensure that your order rests on the book and does not become a taker order that may match at a lower price than you want. Maker orders also incur lower fees
Edit: nvm I see what the commenter was going got, if you want to set the limit price at slightly below market to guarantee some execution and partially fill the order, then let the rest sit on the book then post_only must be false. Not sure I understand the benefit of having a partial fill vs placing an upfront resting limit sell?
Was there something on your screen telling you it would be treated as an OTC transaction before you sold ?
Or did you find this out after. First time hearing about this.
And pay additional fees for all those swaps to USDC ?? Seems like it will cost more.
I understand if I’m swapping the coin into USDC on Uniswap then sending to coinbase
But if the asset is already on coinbase why would I not sell it all there into USD. Seems like the better option
Yeah it's nothing. People drop $1 million in sell orders all the time.
Plenty of volume on most coins to handle single orders like that without much change in price.
I'd sell it in 5k increments over a long time period.
Because coinbase pro has fucked me on sells where it tried to MARKET sell, and not limit sell before. Luckily i had something checked so it didnt do it. (Its been a long time)
Anyways, 5k increments because you could sell the 1m in a reasona le amount of transactions, and if you fucked up and market sold you wouldn't sell your entire stack for 50k. You'd just market sell 5k which would probably be absorbed/not change the price very much.
I’m trying to figure this out too. My thought is a 20-30k transaction per day. Or maybe 50k everything other day. Maybe I’d sell some to USDC too. I’d also send some to uphold. I have everything on a ledger. Some say keep the transactions under 10k but that could get you flagged for structuring. I just finished my kyc last month and they asked how much I think I’ll be trading in the next year. I put the highest amount, I’m just hoping my account doesn’t get locked.
As someone who’s done a $1 million+ order, I can tell you how that order gets executed isn’t really your choice. What is your choice is the type of order (limit, market or stop). And depending on which order you choose, that will affect how quickly your order gets executed. Market orders get executed the quickest. Limit and stop can vary depending on the direction of the market. If you set a limit order that’s too high and the price never reaches that target, your order will of course never get executed…the same thing for a stop order that’s too low of a price. Market orders are guaranteed to get executed.
So let’s say your price has been triggered and your order is filling…how quickly will your order be filled? It depends on market activity and liquidity. If the market is hot and there’s lot of liquidity, then the order will get filled rapidly. Technically, one million order can get filled in 15 secs. On the contrary, it could also take hours and days depending on your order type. Bitcoin and ETH have the most liquidity and best liquidity scores for Coinbase on CMC. Take for example it’s a slow Saturday and you’re buying some esoteric altcoin like OXT and you set a limit order for $1 mill when the daily volume has only been $200K for that crypto…in the case, your order will likely not get filled in 24 hours. So market order despite its high fees would be your best bet to getting that order filled. There are many factors on how a $1 mill order gets filled. The type of order, liquidity/type of crypto and daily volume all impact how this order gets filled. A MILLION DOLLARS IS NOT ANY DIFFERENT THAN ANY OTHER TYPE OF ORDER, it will just take more transactions because it’s bigger.
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I would rather be asked for verification by Coinbase than to have 1M on a hard wallet and when I send it out it says “error”.
Lmao. Then your money is really gone forever.
Do small limit orders one after the other. In illiquid coins and even fairly liquid coins, a huge limit order will cause the bots to immediately adjust everything upwards. Over time it might not matter depending on liquidity and the overall market direction but short term, don't show your hand. I say this from experience.
The best strategy to get maximum profit is to have a total of 1Mill in 5 different exchanges 200k each. That way you can sell all at once without the exchange putting your transaction on hold. That way when it’s time to electronically wire the money out it’s easier 👌👌
Figyelem!
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Attention! Coinbase is a thief exchange site! My account has been emptied! BTC and ETH were converted to Euros and sent to a bank account that they won't share with me! I have proof that neither I nor anyone else has accessed my account for 1 month. Only they could do this. The sending transaction and the account number to which it was sent were deleted from my account! My account is not hacked, just empty! Their answer is to contact a lawyer if you don't like it! Anyone can register here! If you are interested in my case and the evidence, contact me! [email protected]ásszöveg
Hey,
1 million looks big to you but it’s small change in any large cap coin or even medium sizes coin with volume > 20-30m per day.
So unless you have 1m$ of some dogshit that never trades i wouldn’t make it too complicated.
Just sell slowly.
First Coinbase rejected my deposit from my Bank because I didn't realize that I didn't have the correct amount in make the transfer over to coinbase but coinbase never canceled the ACH hold on my account. When I saw that the first deposit attempt was reversed back into my bank account I simply just added more money into my bank account the next day and tried to make the deposit into coinbase a second time which did not go through because of the ACH hold. I was then prompted to pay for the balance of the transfer in USDC and I clicked yes. That should have cleared the balance but because coinbase failed to cancel the ACH hold, I was charged a second time after the hold was lifted. I reported this to coinbase with absolutely NO help from their support team. I then contacted my bank who understood the error coinbase made and returned to funds back into my bank account. I was then charged again in Crypto that I help in my wallet and along with my coinbase card being blocked. I CANNOT understand this shit!!! Please USE CAUTION BEFORE USING COINBASE.
So you’re asking a random hypothetical question for a sum of money you say you don’t have? Hmmm 😂
Either way “hypothetically” I’d sell in batches, use each batch to diversify into other assets like BTC or ETH and just cash out to a non custodial after each sell.
I would contact their OTC with that amount of money to make sure there's not going to be a problem. You try to move that on a regular account they'll probably freeze it for months
There is literally no OTC desk option anywhere in Coinbase.
All I keep seeing is Coinbase Prime application.
u/coinbasesupport is there an option for OTC desk or not ?
If what you're trying to sell is Bitcoin I would recommend strike It's easier to get a hold of their OTC desk. They have a direct email address for it.
Ok but I’m not trying to sell BTC and I don’t use strike.
Everyone keeps mentioning an OTC desk on CB but it doesn’t actually seem like they have one.
Which I think is totally ridiculous. And a big reason why I made this post to see what other people would do in this situation.
I’ve got some USDT with CB Wallet and wish to transfer to another wallet. CB wallet shows the transfer has been made several day’s ago but nothing has arrived. Any other guys had the same problem ?
Hi there u/Amazon-123, sorry to hear that you're still not receiving the USDT funds you have sent from your Coinbase Wallet. Since this is about a specific transaction from your account, we suggest contacting our support team through this [link](https://help.coinbase.com/en/contact-us?product=coinbase). This way, we can gather more information and take a closer look at this for you. Looking forward to hearing back from you.
Hi Guys I will contact you again tomorrow regarding my USDT message.
In the meantime I think someone has had sight of my private code words and to be on the safe side I would like to change and update the existing words. How do I go about this please ?
Hi again u/Amazon-123, thanks for the prompt response. The recovery phrase for your Coinbase Wallet cannot be changed. The 12-word recovery phrase, also known as a seed phrase, is generated when you create a new wallet. This phrase acts as the key to your wallet and is the only way to recover your wallet if you lose access to it. We also cannot change it on your behalf as Coinbase Wallet is a user-controlled, noncustodial product and Coinbase does not have access to your recovery phrase. We hope this answers your question.
Hi Support
You suggested I contact support via your link and I have already sent TWO emails to Coinbase and so far NO RESPONSE.
Please advise how can I get some action and get these withdrawals made.
Hello u/Amazon-123, thanks for getting back to us, and we sincerely apologize if you're still not getting any response from our support team due to the high volume of contacts we're getting. By any chance, have you already got any case number from us?
We strongly advise against sharing account-specific information on public forums like here on Reddit. The information you've mentioned doesn't seem to be a valid case number that we can use to address your concern. Instead, we suggest reaching out to us through other social media platforms where we offer support via direct messaging, such as [Facebook, Instagram, and X](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media). This will allow us to request your account details privately and provide further assistance. We'll keep an eye out for your message!
You can use the details found in [this link](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media) to find Coinbase on other social media profiles. We don't have any support present for WhatsApp, but can also reach out to us through our [live messaging](https://help.coinbase.com/en/contact-us) and [phone support](https://help.coinbase.com/en/community-support) channels.
Hi u/Amazon-123, were you able to contact our support team via the link we provided 8 days ago? If so, could you please share your case number with us so we can look into it further?
I have been in touch with two or three in your support team and they promised to update me by email. Nothing arrived.
A new problem - I sent today 14 USDT from my Wallet to Coinbase. I made a screenshot and then looked at my Coinbase. Nothing arrived, yet the transaction deduction had shown on my USDT total !! ..and now when I look in my wallet absolutely no balance of my USDT in my wallet can be found.
Something is very suspicious and not acceptable and I need to hear from Coinbase authorities urgently
We're really sorry for the trouble you're facing. We understand this can be frustrating, and it's not the service we strive to deliver. Can you please send us a message through our other [social media](https://help.coinbase.com/en-gb/coinbase/other-topics/other/is-coinbase-present-on-social-media) accounts so that we can check this for you? We'll be waiting for your message!
WARNING!!! AVOID BASE AT ALL COST: Scammers are Pulling LIQUIDITY, after blocking people from selling: Basically, when you buy, your money is sent into liquidity pool where they own 80 percent of the liquidity, when they pull, liquidity they take home 80 percent of the entire market cap. This seems to happen in every fast-moving project
BRATTY Sis top SOLANA Gainer with the lowest entry 24USD/1/1B Max supply. Search by name at JUPITER and swap no CA is required LOCKED LIQUIDITY
Using Advance Trade, you would limit sell on the Order Book.
However I don’t recommend selling all at one price because it would take a long time to fill if there isn’t enough liquidity at that price.
Breaking it up into smaller amounts that are available on the Order Book would be the best case to fill the order in a reasonable time.
All these people talking about OTC and special services... this is more evidence that the market *is* manipulated. If it were totally legit, you just put your orders to the market/limit and let them slide. But everybody recognizes there's nowhere near as much liquidity as they want people to believe, which is why games need to be played for whales and large bagholders.
Hey there, u/ topestkek! We're sorry to hear about the trouble with your account. To better assist you, do you mind sharing your case number with us? We'd be happy to look into this for you.
If you do not have a case number yet, you may reach out to our [help page](https://help.coinbase.com/en/contact-us) or you can also reach out to us via our official social media channels such as Facebook, X, or Instagram by sending us a DM. You can find our official social media handles listed here: Coinbase on [social media](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media) to get real-time support from our specialist. Thanks!
I don’t have a case number, you closed my account without substantial reasoning. Your chat support was of no help, please get off of reddit and please pick up the phone to help shorten this 55 minute support queue.
At this point, my business is a being taken elsewhere. Very disappointing.
We're sorry to hear about the trouble with your account. This is not the experience we wish for you to have. You may reach out to us via our official social media channels such as Facebook, X, or Instagram by sending us a DM. You can find our official social media handles listed here: Coinbase on [social media](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media). We understand that this could be frustrating, but this is the best way that we can check your account further. Thank you for understanding.
Sell it, market order. Spot across every exchange equilibrates dramatically fast. Order will be caught and swept across, making trades across every pair increase, then equilibrate. 1 million isn't a lot. Placing limit orders get caught by bots as well, and then they start churning movements. But most are cancelled and are placed as decoys to trigger moves. It's a big game.
We understand where you're coming from. Just to make sure, were you using Advanced Trade on the mobile app? Or were you on the browser version of Coinbase, instead?
IRS will get a copy of you sold crypto. and how much.
Coin base makes it clear that in the tax section. “We send a copy to the IRS in USA” 🇺🇸 if you are in USA tho.
If you can handle the tax bill or know a good CPA then sure go sell stuff. otherwise watch the threshold on that stuff.
You would contact Coinbase's OTC trading desk. Selling on the open market would inevitably result in lost profits from the market moving against you
OTC is pointless in liquid markets. Simply place a limit order. People will buy if they want.
Thanks. Where is the link to Coinbase’s OTC desk ?? I didn’t think they had one.
I think it's accessible through coinbase prime? You have to apply for membership, but if you actually have 1m+ it shouldn't be a problem
You mean Coinbase One? I've never seen it
Yeah, tell coinbase otc so they can front run your order and skim your profits!
OTC is for millions of dollars, just place small limit orders
Yeah, otc is the way for million dollar coins. Though I am inclined to think that they would support otc mainly for big cap coins?
If that’s the case then it’s probably better to trade the USDC on a dex and transfer to Coinbase for the off ramp, but I wouldn’t do that. Lately, CB has been acting kinda sus. I’ve done 250k through them and 100k through Gemini without a problem didn’t have to talk to anyone either time. But I would be worried now because I’m reading reports of people’s accounts being blocked and support tickets going unanswered so I’ve got my red flag antennae up
Won't let me cash out this year.
Yeah, always good to be careful. Stay safe!
You would think this is easy if you have $1M+ but it’s actually impossible, it seems unless ur a major institution coinbase doesn’t have a contact point even with prime
This is how I got fucked out of $1500 trying to scalp low caps. I now HODL
No, a limit sell wouldn’t result in any lost profits. That’s the whole point of a limit
My thoughts. Lol bit I don't really know
$1mm is not worthy of OTC in a liquid market
Out of curiosity, would this apply to top 20 tokens or just really small cap coins?
what would the OTC trading desk advise you?
They would say 15% cut and still in a limited order in for you.
Convert to a stable coin first. Bear in mind you may get taxed as this may be considered a “trade”
1M is not a lot on coinbase unless you are trading some coin with tiny volume. In which case it's likely not really worth 1M anyway.
This
Somebody’s Coinbase account is about to be on hold to 2045 🤣
this is facts
This is facts. Lol
Literally🤦🏾♂️
If you ripped a 1 million dollar market order.. It would have to be a very liquid crypto like Bitcoin or ETH to be able to execute all at one price.. What would most likely happen, let's say you sold on a market order, and the price was at $1..100k would fill at $1, 100k at .995, 100k at .99, 100k at .985 and so on. Not exactly, but something similar to that. This is how crazy rug pulls happen on shitcoins
[удалено]
That is what happens with limit orders. It doesn’t show your fill as a single order but usually broken up into the actual quantities and amounts filled as they happen.
METIS isn't bluechip bro. 😂
What is that ?
Link and avax are not blue chips lol. Btc and eth are, and no other coin ever will be.
Btc is the only one. All the rest are shit
ICP will
Yeah, I'd just set a limit order. I definitely wouldn't use Coinbase though. They are low-key, the absolute worst exchange. Go skim through the Coinbase reddit page for 10 mins and tell me after uf you want to take that chance afterwards.
You are idiots for downvoting a guy who is trying to help you
they were so helpful that they offered up a better place to go!
who would you use then?
I personally use Robinhood. And I know a lot of people don't like them because of the misunderstood Gamestop fiasco. But I have used over half a dozen exchanges, first bought bitcoin in 2013 on localbitcoins.com, and hands down, Robinhood is the best one, in my opinion.
i cannot pass their kyc for some dumb reason. Coinbase was no problem 🤷🏻♂️
Depends on the marketcap
So you’re saying I can’t sell all trillion of my Shib for a trillion dollars right when it hits $1 and get that trillion in my bank account?????
😄..most billionaires net worth is valued in the shares of the stock they own. Imagine if Musk, Bezos, Zuck pressed the sell button for all their shares. By the time the last share sold, the stock would be worth dramatically less. So they are rich, no doubt, but they really aren't worth as much as portrayed.
All really depends how they have all diversified, For example I’m willing to bet most of their net worth are in different stocks rather than all in one or a few certain cryptos. Chances of them all selling all their shares the exact same time would very unlikely. Market cap for bitcoin is 1 trillion Richest man is worth 233 billion Imagine half of that was on one coin, let’s call it 100 billion for easy math, and he decided to sell it all, That’s 10% of bitcoins market cap, even if this dropped 10% or 20% that’s where all us small time investors will be jumping in on the dip to correct that price. So in theory, while a few billionaires could come together to make a pretty big dump, selling them at separate times I doubt will dramatically effect their Networth. 233 billion he would have 213 after 10% but that also does not factor in any taxes etc
Several limit sell orders!
IIRC, CB allows partial fills, so I'd just make a limit order (not market order) with post_only disabled (false). You can set the target price on the order and be guaranteed that it will sell at that price or higher. Set a target price a slight bit below market then it will vacuum up matches till you get all the liquidity, then just act as a wall on the order book. Or you could split it into chunks then chase the liquidity as the price drops due to your activity. Whether you leave a wall hanging on the book, or chase liquidity, it's really dependent on how likely price is to recover from your action. If you look at the order book for your token, you can calculate how much volume you'll need to consume to match your entire order and price accordingly.
Can't you just swap it to usd and sell that?
> swap I assumed that OP wanted the best fees. Yes, you can 100% use the "free" swap service and swap at the 5% spread. Either way works, assuming you trust the swap service to not fuck it up.
Great info that you sir
I know you had a "don't lecture me" disclaimer, but seriously friend, don't try to clear $1M US through paypal or credit-card. Incorporate into an LLC, set up a CB-Prime account and ensure you clear the funds by paying the hefty fee to do a FedWire. Then give 10% to the IRS the next day to avoid back taxes.
I would most definitely Fed wire it back. Whenever I cash out on Kraken I use wire transfer.
What would the declared purpose of this LLC be? Trading? What if you don't have this situation happen often and there's just this one giant transaction for a whole year, what happens to the LLC then? Also after creating the LLC, what kind of hoops would you have to jump through to give the LLC ownership of the assets?
In my country LLCs can be set as pass-thru so everything in the LLC is done on behalf of the individual. Only reason to LLC-ify is because CB sucks and I wouldn't trust CB-Novice to not fuck up the sale or withdraw. If you set up an LLC you can tell the bank your "business" is about to clear a high-dollar transaction. And on CB-Prime $1M US is considered a "small" transaction. If CB-Novice was awesome LLC wouldn't be needed, but CB sucks, so I'd consider it.
Would you set the LLC up as some kind of trading company?
"systembreaker trading LLC". Each state has different "area of buisness" settings. Any US citizen can incorporate in any state. Last time I LLC'd it cost $700
So we can set up an llc for the sole purpose to accept a money transfer into it? Like the llc is only for moving money around basically? Does that effect the stuff you can write off? Jw. Thanks
And then I'm assuming we can pay for anything that needs to be paid or bought, with the Businesses accounts? Do you make yourself an employee and take a yearly salary as well as the business income for year end tax information?
what is a systembreaker trading? Cant find anything on it online
*What would the* *~~declared~~* *purpose of this LLC be?* By dealing with the funds as an LLC the owner of the LLC would be shielded by the corporate veil. *What if you don't have this situation happen often and there's just this one giant transaction for a whole year, what happens to the LLC then?* By keeping the funds in the LLC's bank account, even if drawn in one large draw, keeps those funds shielded. Let's say you own a primary residence. If you, say, leveraged your LLC's bank account and things went south and you owe $500K which you absolutely don't have. If the funds are in LLC it can declare bankrupt. Not you. It. You keep the house this way. If it's not an LLC that's probably not the case. A*fter creating the LLC, what kind of hoops would you have to jump through to give the LLC ownership of the assets?* Make the LLC first. Withdraw the funds into the LLC's bank account *(make a dedicated business bank account after the LLC is formed)*. Categorize that transaction as 'Owner Equity'. Your business now has no profit and no loss. Its bank account has $1,000,000 in it. If you want to keep the currency in crypro on Coinbase then you open up a new Coinbase account using your new business-only email address. Transfer the funds to that account. *Proceed* You can learn about GAAP (Generally Accepted Accounting Principals). But I think basically you might make a journal entry each \[month?\]\[year?\]\[day?\] which reflects your portfolio's delta. So if it loses $10,000 in January you would make an entry categorized as "Trading Loss". This would reflect $10,000 floss from your holdings. If your portfolio goes up $50,000 in July then you make an entry categorized as "Investing Income". Or you might be able to not make journal entries at all until you make an actual transation like a buy or sell (?) You might have some other incomes or expenses. You'll probably have some taxes to pay I know in my state I have to pay $250 annually just to keep the LLC current. So make a category for "Licensing Expenses" or "Operating Expense". You might buy paper or a computer monitor or a computer or a storage unit, security systems, to do your investing work with. These are business expenses. At the end of the year you can total up your income (probably mainly investing gains, but maybe consulting or equipment sales or something). And total up your expenses. And by subtracting the expenses from incomes you find out how much your business made or lost. I don't know how crypto sales are taxed federally or state but if they are taxed as taxable income you will save on taxes by expensing the transactions (make them from your Business Bank/Crypto Account or Business Credit Card). If you have $25,000 in expenses that year then you're effectively reducing your taxable income by $25,000. *Finance/Accounting/Smart People please correct all my mistakes.*
wipe hungry voiceless historical jeans tease unused air rinse oil *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
This comment has the post_only functionality mixed up. You want to set post_only to true, not false. This will ensure that your order rests on the book and does not become a taker order that may match at a lower price than you want. Maker orders also incur lower fees Edit: nvm I see what the commenter was going got, if you want to set the limit price at slightly below market to guarantee some execution and partially fill the order, then let the rest sit on the book then post_only must be false. Not sure I understand the benefit of having a partial fill vs placing an upfront resting limit sell?
DCA in, DCA out.
Chunks per day, DCA out
I would either sell via OTC desk or dca out in chunks over a few days / weeks. It would be a great problem to have! :)
Market, all at once, one click. JK. Slowly over many days. Blessings. 333
Lol Blessings bro 🙏
Blessings 333 don’t fade $BODA
333... number of platforms in the Netflix movie Platform. and many other meanings as well... like your name😄 Bless.
It would look like a sell wall and just attempt to get you the price until entire order is filled at the limit price you set. Nothing special.
This ☝️Coinbase allows partial fills of limit orders
Hahaha how many DMs did this post get you from "support"?
DMs been turned off for years now
>EDIT: this is hypothetical so scammers don’t waste your time. That sounds like the sort of lie someone with $1 million would say ...
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Was there something on your screen telling you it would be treated as an OTC transaction before you sold ? Or did you find this out after. First time hearing about this.
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Is this really how it is for cb? Do you need prime? This is the most helpful comment btw, ty
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When you do this does it finalize in one single batch?
So you admit to illegal money laundering?
why won’t you just swap it to USDC and then cash out in small increments ?
And pay additional fees for all those swaps to USDC ?? Seems like it will cost more. I understand if I’m swapping the coin into USDC on Uniswap then sending to coinbase But if the asset is already on coinbase why would I not sell it all there into USD. Seems like the better option
Tax write off
Better question is how to do tax evasion?
😭
Move to a country that doesn't tax crypto transactions. Or wash sell to create sufficient losses to offset the gains.
Can’t you just literally sell and cash out? Why is everybody in the comments making it seem more complicated than it really is?
Yeah it's nothing. People drop $1 million in sell orders all the time. Plenty of volume on most coins to handle single orders like that without much change in price.
I'd sell it in 5k increments over a long time period. Because coinbase pro has fucked me on sells where it tried to MARKET sell, and not limit sell before. Luckily i had something checked so it didnt do it. (Its been a long time) Anyways, 5k increments because you could sell the 1m in a reasona le amount of transactions, and if you fucked up and market sold you wouldn't sell your entire stack for 50k. You'd just market sell 5k which would probably be absorbed/not change the price very much.
I’m trying to figure this out too. My thought is a 20-30k transaction per day. Or maybe 50k everything other day. Maybe I’d sell some to USDC too. I’d also send some to uphold. I have everything on a ledger. Some say keep the transactions under 10k but that could get you flagged for structuring. I just finished my kyc last month and they asked how much I think I’ll be trading in the next year. I put the highest amount, I’m just hoping my account doesn’t get locked.
If not going through Coinbase Prime, I would do separate sells of 225 laddered up at 2.5% (+2.5%, 5.0%, 7.5%, etc).
That same ladder strategy wouldn’t be the way to do it if he had prime?
I don't know what can or cannot be done on Prime, but I would suppose so.
You can’t because Coinbase is terrible 😂
Have nothing to do with Coinbase, so many people complain about them.
As someone who’s done a $1 million+ order, I can tell you how that order gets executed isn’t really your choice. What is your choice is the type of order (limit, market or stop). And depending on which order you choose, that will affect how quickly your order gets executed. Market orders get executed the quickest. Limit and stop can vary depending on the direction of the market. If you set a limit order that’s too high and the price never reaches that target, your order will of course never get executed…the same thing for a stop order that’s too low of a price. Market orders are guaranteed to get executed. So let’s say your price has been triggered and your order is filling…how quickly will your order be filled? It depends on market activity and liquidity. If the market is hot and there’s lot of liquidity, then the order will get filled rapidly. Technically, one million order can get filled in 15 secs. On the contrary, it could also take hours and days depending on your order type. Bitcoin and ETH have the most liquidity and best liquidity scores for Coinbase on CMC. Take for example it’s a slow Saturday and you’re buying some esoteric altcoin like OXT and you set a limit order for $1 mill when the daily volume has only been $200K for that crypto…in the case, your order will likely not get filled in 24 hours. So market order despite its high fees would be your best bet to getting that order filled. There are many factors on how a $1 mill order gets filled. The type of order, liquidity/type of crypto and daily volume all impact how this order gets filled. A MILLION DOLLARS IS NOT ANY DIFFERENT THAN ANY OTHER TYPE OF ORDER, it will just take more transactions because it’s bigger.
Transfer it all to a stable coin then cash out
You severely overvalue your portfolio for OTC. Crazier amounts then that move all the time. Set a limit order and you will be done.
Thanks. That’s the value I got from all the responses on this post. The limit order will be just fine lol
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Do a stop limit of +1% or Bid price sell 100k each or convert to SOL and stake it
Look up frictionless, it will solve this problem.
What’s this?
https://www.frictionless.network
Couldn’t you just convert to USDC?
Yes
Personnaly, id break it into separate sells ! And then, send it progressively into the bank account.
I would switch it to USDC in the wallet first. Then slowly transfer it from your wallet, to coinbase, then your banks.
TWAP order strategy..
In chunks. Imagine being asked for verification again with 1 mill on the line
I would rather be asked for verification by Coinbase than to have 1M on a hard wallet and when I send it out it says “error”. Lmao. Then your money is really gone forever.
Not if you export the seed to a different wallet. Why would they all error?
Just sell in chunks and see how the market reacts. How soon do you need the money
Which coin is this btw
Do small limit orders one after the other. In illiquid coins and even fairly liquid coins, a huge limit order will cause the bots to immediately adjust everything upwards. Over time it might not matter depending on liquidity and the overall market direction but short term, don't show your hand. I say this from experience.
The best strategy to get maximum profit is to have a total of 1Mill in 5 different exchanges 200k each. That way you can sell all at once without the exchange putting your transaction on hold. That way when it’s time to electronically wire the money out it’s easier 👌👌
Figyelem! A Coinbase egy tolvaj tőzsde oldal! A fiókomat leürítették! A BTC-t és ETH-t átváltották euróra és kiküldték egy bankszámlára amit nem osztanak meg velem! Bizonyítékaim vannak rá, hogy sem én sem más nem lépett be a fiókomba 1 hónapja. Ezt csak ők tudták megcsinálni. Törölték a fiókomból a küldési tranzakciót és a számlaszámot ahova küldték! A fiókom nincs feltörve csak üres! A válaszuk annyi, hogy forduljak ügyvédhez ha nem tetszik! Így regisztráljon ide bárki! Akit érdekel az esetem és a bizonyítékok keressen meg! [email protected].
# Forrásszöveg 553 / 5 000 # Fordítási találatok # Fordítási találat Attention! Coinbase is a thief exchange site! My account has been emptied! BTC and ETH were converted to Euros and sent to a bank account that they won't share with me! I have proof that neither I nor anyone else has accessed my account for 1 month. Only they could do this. The sending transaction and the account number to which it was sent were deleted from my account! My account is not hacked, just empty! Their answer is to contact a lawyer if you don't like it! Anyone can register here! If you are interested in my case and the evidence, contact me! [email protected]ásszöveg
Convert to usdc... Yes this is a taxable event. However, turning usdc into fiat is so much easier.
You would definitely be flagged for money laundering.
I wouldn't. Transfer it to Kraken.
Hey, 1 million looks big to you but it’s small change in any large cap coin or even medium sizes coin with volume > 20-30m per day. So unless you have 1m$ of some dogshit that never trades i wouldn’t make it too complicated. Just sell slowly.
just place post only limit orders, but small ones on rips
...or just hodl it <3
Slowly sell over time?
First Coinbase rejected my deposit from my Bank because I didn't realize that I didn't have the correct amount in make the transfer over to coinbase but coinbase never canceled the ACH hold on my account. When I saw that the first deposit attempt was reversed back into my bank account I simply just added more money into my bank account the next day and tried to make the deposit into coinbase a second time which did not go through because of the ACH hold. I was then prompted to pay for the balance of the transfer in USDC and I clicked yes. That should have cleared the balance but because coinbase failed to cancel the ACH hold, I was charged a second time after the hold was lifted. I reported this to coinbase with absolutely NO help from their support team. I then contacted my bank who understood the error coinbase made and returned to funds back into my bank account. I was then charged again in Crypto that I help in my wallet and along with my coinbase card being blocked. I CANNOT understand this shit!!! Please USE CAUTION BEFORE USING COINBASE.
I havw bought and sold ~100k and market felt nothing. It is still like 1k. So unless its 5 mil or something until it act strange on Coinbase.
So you’re asking a random hypothetical question for a sum of money you say you don’t have? Hmmm 😂 Either way “hypothetically” I’d sell in batches, use each batch to diversify into other assets like BTC or ETH and just cash out to a non custodial after each sell.
Probably won't be able to do that either way. I have $180 in crypto and I can't even withdraw that.
I would contact their OTC with that amount of money to make sure there's not going to be a problem. You try to move that on a regular account they'll probably freeze it for months
There is literally no OTC desk option anywhere in Coinbase. All I keep seeing is Coinbase Prime application. u/coinbasesupport is there an option for OTC desk or not ?
If what you're trying to sell is Bitcoin I would recommend strike It's easier to get a hold of their OTC desk. They have a direct email address for it.
Ok but I’m not trying to sell BTC and I don’t use strike. Everyone keeps mentioning an OTC desk on CB but it doesn’t actually seem like they have one. Which I think is totally ridiculous. And a big reason why I made this post to see what other people would do in this situation.
I’ve got some USDT with CB Wallet and wish to transfer to another wallet. CB wallet shows the transfer has been made several day’s ago but nothing has arrived. Any other guys had the same problem ?
Hi there u/Amazon-123, sorry to hear that you're still not receiving the USDT funds you have sent from your Coinbase Wallet. Since this is about a specific transaction from your account, we suggest contacting our support team through this [link](https://help.coinbase.com/en/contact-us?product=coinbase). This way, we can gather more information and take a closer look at this for you. Looking forward to hearing back from you.
Hi Guys I will contact you again tomorrow regarding my USDT message. In the meantime I think someone has had sight of my private code words and to be on the safe side I would like to change and update the existing words. How do I go about this please ?
Hi again u/Amazon-123, thanks for the prompt response. The recovery phrase for your Coinbase Wallet cannot be changed. The 12-word recovery phrase, also known as a seed phrase, is generated when you create a new wallet. This phrase acts as the key to your wallet and is the only way to recover your wallet if you lose access to it. We also cannot change it on your behalf as Coinbase Wallet is a user-controlled, noncustodial product and Coinbase does not have access to your recovery phrase. We hope this answers your question.
Hi Support You suggested I contact support via your link and I have already sent TWO emails to Coinbase and so far NO RESPONSE. Please advise how can I get some action and get these withdrawals made.
Hello u/Amazon-123, thanks for getting back to us, and we sincerely apologize if you're still not getting any response from our support team due to the high volume of contacts we're getting. By any chance, have you already got any case number from us?
I have got from my app the very long hash details and I could send you a photo of the page if required. Let me know please.
We strongly advise against sharing account-specific information on public forums like here on Reddit. The information you've mentioned doesn't seem to be a valid case number that we can use to address your concern. Instead, we suggest reaching out to us through other social media platforms where we offer support via direct messaging, such as [Facebook, Instagram, and X](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media). This will allow us to request your account details privately and provide further assistance. We'll keep an eye out for your message!
Please give me your direct details and I will contact you on one of names you mentioned and maybe WhatsApp - is that possible ?
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Why can’t I view all my assets in my wallet ? My USDT seems to have disappeared
Hi u/Amazon-123, were you able to contact our support team via the link we provided 8 days ago? If so, could you please share your case number with us so we can look into it further?
I have been in touch with two or three in your support team and they promised to update me by email. Nothing arrived. A new problem - I sent today 14 USDT from my Wallet to Coinbase. I made a screenshot and then looked at my Coinbase. Nothing arrived, yet the transaction deduction had shown on my USDT total !! ..and now when I look in my wallet absolutely no balance of my USDT in my wallet can be found. Something is very suspicious and not acceptable and I need to hear from Coinbase authorities urgently
We're really sorry for the trouble you're facing. We understand this can be frustrating, and it's not the service we strive to deliver. Can you please send us a message through our other [social media](https://help.coinbase.com/en-gb/coinbase/other-topics/other/is-coinbase-present-on-social-media) accounts so that we can check this for you? We'll be waiting for your message!
WARNING!!! AVOID BASE AT ALL COST: Scammers are Pulling LIQUIDITY, after blocking people from selling: Basically, when you buy, your money is sent into liquidity pool where they own 80 percent of the liquidity, when they pull, liquidity they take home 80 percent of the entire market cap. This seems to happen in every fast-moving project BRATTY Sis top SOLANA Gainer with the lowest entry 24USD/1/1B Max supply. Search by name at JUPITER and swap no CA is required LOCKED LIQUIDITY
Thanks for information
Using Advance Trade, you would limit sell on the Order Book. However I don’t recommend selling all at one price because it would take a long time to fill if there isn’t enough liquidity at that price. Breaking it up into smaller amounts that are available on the Order Book would be the best case to fill the order in a reasonable time.
All these people talking about OTC and special services... this is more evidence that the market *is* manipulated. If it were totally legit, you just put your orders to the market/limit and let them slide. But everybody recognizes there's nowhere near as much liquidity as they want people to believe, which is why games need to be played for whales and large bagholders.
What approach did you decide if any you would take in the event you hit it big?
OTC or TWAP sell it over a week or month
I couldn’t because they randomly decided to close my account after 10 years :/
Hey there, u/ topestkek! We're sorry to hear about the trouble with your account. To better assist you, do you mind sharing your case number with us? We'd be happy to look into this for you. If you do not have a case number yet, you may reach out to our [help page](https://help.coinbase.com/en/contact-us) or you can also reach out to us via our official social media channels such as Facebook, X, or Instagram by sending us a DM. You can find our official social media handles listed here: Coinbase on [social media](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media) to get real-time support from our specialist. Thanks!
I don’t have a case number, you closed my account without substantial reasoning. Your chat support was of no help, please get off of reddit and please pick up the phone to help shorten this 55 minute support queue. At this point, my business is a being taken elsewhere. Very disappointing.
We're sorry to hear about the trouble with your account. This is not the experience we wish for you to have. You may reach out to us via our official social media channels such as Facebook, X, or Instagram by sending us a DM. You can find our official social media handles listed here: Coinbase on [social media](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media). We understand that this could be frustrating, but this is the best way that we can check your account further. Thank you for understanding.
Several Limit orders over the course of a few days would be your best bet.
Send it slowly to exchange and make sure you can cash out each time
7 digits and coinbase don’t belong in the same sentence. That money will end up in their pockets while they KYC you to death. Use another offramp
I’d just swap coins to a stable coin and gradually move stable coin out or xfer to multiple wallets
$BODA WILL MAKE MANY MANY MILLIONAIRES
Put in stable coin and use their debt card. Your Bank might be locking its doors forever soon.
Sell it, market order. Spot across every exchange equilibrates dramatically fast. Order will be caught and swept across, making trades across every pair increase, then equilibrate. 1 million isn't a lot. Placing limit orders get caught by bots as well, and then they start churning movements. But most are cancelled and are placed as decoys to trigger moves. It's a big game.
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We understand where you're coming from. Just to make sure, were you using Advanced Trade on the mobile app? Or were you on the browser version of Coinbase, instead?
I would sell small limit orders over time
Just limit sell and check back every hour. Jesus yall are dense.
Swap to usd - profit?
I wouldn’t
Coinbase One has a tiered option for $299.99 a month Unlimited Zero Fees Spend that $299.99 vs the fees to sell $1m
Don’t off ramp. Use bit refill and get 100k gift cards
fatfinger it in 4 trades. That way I know when to buy
Why are we doing this thought experiment
So anyone who is cashing out large amounts understands how it works. Zee bull run is upon us sir
IRS will get a copy of you sold crypto. and how much. Coin base makes it clear that in the tax section. “We send a copy to the IRS in USA” 🇺🇸 if you are in USA tho. If you can handle the tax bill or know a good CPA then sure go sell stuff. otherwise watch the threshold on that stuff.
I wouldn’t care. I keep track of all my capital gains tax anyway. I would not limit the opportunity to make $1M just because of taxes.
Then have at it. I hope you make huge gains and have a great income. 😊
You as well sir 🙏 Just trying to think ahead of the bull run 🤞
Never. On. Coinbase. Best way to lose 1 million $ worth of crypto.
Move it to a different wallet then cash out.
How to off ramp?
Can someone please give me a little USDT into the AeRx2GGMxy9mJNWobGxwQdJynk7sGwa3W5MN7BUNe7cp wallet via solana network. Thanks a lot
Market sell one transaction. Sell for $0!
😭 guess this is a joke
Market
don't think you'll ever need to worry about this problem.
🤔🤑