ok, so as a relatively small DCAer, I don't have trouble doing my monthly buys, but i was thinking, how do rich people drop 100k or more (or even 20, 10k ) into a btc purchase? (excluding the etf, just self storage)
in the UK , i have to top up revolut or wise because my highstreets banks just block all card transfers, freeze the card and just cause problems in general.
one time my i decided to put a chunk of over 2k in via bank transfer and the bank not only blocked my card, they froze my online bank access and i had to call them THEN do a telephone interview all about what i was doing and they gave me , basically, a bitcoin quizz, to check i knew what i was doing.
huge PITA.
so how are people dropping the big bucks in there? like do banks in the US just not freeze wire transfers on larger amounts? of when you reach a certain baller level is there just a different level of service and massive transfers fail to trigger any algorithmic security ?
For big transactions you will need to deal with an exchange or OTC desktop, in order to try to solve the issue with your bank, the best thing to do IMO is to talk to them before hand, just let them know that you will sent money to another place soon....If they ask more details, maybe the only way to proceed is to say the truth.
The main problem with the banks, comen when you do something different or new to your normal behaviour.
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Suitcase of cash left under the bridge.
In actuality, OTC desks.
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Im sure they can call up coinbase and set something up. Isnt that what all the etfs do?
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like a concierge service type deal?
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43 sats \ 0 replies \ @OT 10h
Some exchanges have OTC orders for large buys (over the counter). I think they need to agree on a price beforehand so its not like spot.
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if u wire the money to a river or swan or some other US based exchange you should not run into much friction. then once the money is at the exchange just a matter of settling on the buy price. most of these exchanges have a person or team that processes larger buys.
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they might be asking saylor to buy bitcoin for them.
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Wow! the banks and their corrupt elite! clearly the treatment is different among their own elite race! you know, I mean I'm saying that the parameters for those large transactions are much more flexible and easy!! imagine wasting an hour of my time explaining to a bank employee why I move MY MONEY that way!!! truly unacceptable... Luckily now we have Bitcoin and that is eliminated! and it's wonderful!!
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Just as the poor people will place little bitcoin buys.
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The rules for normies and the rules for elites have a huge difference. They will go to a rich man and want you to come to them.
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Buying large amounts of Bitcoin may seem like a daunting task, but with the right strategies, it is totally possible. Platforms like Coinbase Pro and Bitstamp are popular because they offer high liquidity and security. However, if you buy a large amount of Bitcoin at once, it could cause the price to rise momentarily. Instead of buying everything at once, split your purchase into several smaller transactions. This helps you get better prices and not attract attention.
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OTC? Buy directly the bitcoin wallet with bitcoin in it, simple as that.
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0 sats \ 1 reply \ @2032 6h
Buying a wallet is a bad idea for security reason. You would might have a compromise private key. When you buy BTC always ensure you control yours keys. If you buy BTC ensure they are send to your wallet only
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What I mean is they bring a a case with cash and in front of them sending the bitcoin from one wallet to another you can’t understand OTC? This is not about the security of course they will not keep that particular wallet omg
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They buy the spot ETF, future ETF or use OTC desks (some with self custody, others without)
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They probably just have their butler hodl for them
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rule number 1, never trust the butler
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0 sats \ 0 replies \ @fm 10h
Oh, They dont have the same controls you have.. They dont have the same treatment you have... Simple as that..
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