Where do whales trade/withdraw money?
Where do whales trade/withdraw money?
I probably shouldn’t be asking this question because I am an old member of this forum but this recent article on Cointelegraph quickly inspired me to ask this question here today. Satoshi-era dormant Bitcoin address wakes up after 10 years.
My questions are the following:
1. People who own hundreds and thousands of Bitcoins, where do they trade? It’s risky to deposit such a high amount of coins on platforms like Binance and Coinbase because you aren’t guaranteed that they won’t block your account, even immediately after you deposit them. So where do they trade?
2. How do they convert their Bitcoins into fiat? I know that years ago there were some bank transfer deals on this forum, I remember that Bitmain wanted to sell 10 Bitcoin or something like that here and they probably had a deal with a forum member but today when the price is so high, where do these big holders sell their coins and get fiat in their bank account? On traditional exchanges?
I’m pretty sure that a lot of wealthy people have accounts in traditional exchanges just like any other individual. I also don’t think they care about having their accounts locked with that wealth, when they know they can prove “the source of funds”, or lawyer up if needed.