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When XRP goes to the moon --- where will you cash out to fiat?


BrianPBell
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Totally new here ... but read all the time.

I use Kraken for my transactions, and I have Tier 4 access which allows me to deposit / withdraw crypto  or fiat up to $500,000 USD a month.  However, they just changed their policy to only allows me to deposit / withdraw crypto  or fiat up $25,000 a day, or $50,000 a month or $50,000 a year.  That's right $50,000 a year (not a mistake with the zeros).  I'll be 309 years old when I finish withdrawing. 

Where do you plan to cash out if you're in the US?  

 

 

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9 minutes ago, BrianPBell said:

Totally new here ... but read all the time.

I use Kraken for my transactions, and I have Tier 4 access which allows me to deposit / withdraw crypto  or fiat up to $500,000 USD a month.  However, they just changed their policy to only allows me to deposit / withdraw crypto  or fiat up $25,000 a day, or $50,000 a month or $50,000 a year.  That's right $50,000 a year (not a mistake with the zeros).  I'll be 309 years old when I finish withdrawing. 

Where do you plan to cash out if you're in the US?  

 

 

They might add another tier. Cuz no way they will have max tier only d/w 50k a year

 

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21 minutes ago, BrianPBell said:

Totally new here ... but read all the time.

I use Kraken for my transactions, and I have Tier 4 access which allows me to deposit / withdraw crypto  or fiat up to $500,000 USD a month.  However, they just changed their policy to only allows me to deposit / withdraw crypto  or fiat up $25,000 a day, or $50,000 a month or $50,000 a year.  That's right $50,000 a year (not a mistake with the zeros).  I'll be 309 years old when I finish withdrawing. 

Where do you plan to cash out if you're in the US?  

 

 

I would move to another Exchange. OR use multiple exchanges. When XRP moons, I think banks and companies use XRP. So you can spent a lot of XRP online in shops etc etc. Maybe we even don't want inflatoir fiat at that time. Why fiat, when XRP keeps potential rising.

In my dream XRP becomes a global coin Where we can buy with everywhere, for instance with your smartphone.

My only concern is now to get as much as XRP as possible using fiat as long as it is still cheap. 

 

Edited by ReneXRP
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12 minutes ago, BrianPBell said:

Totally new here ... but read all the time.

I use Kraken for my transactions, and I have Tier 4 access which allows me to deposit / withdraw crypto  or fiat up to $500,000 USD a month.  However, they just changed their policy to only allows me to deposit / withdraw crypto  or fiat up $25,000 a day, or $50,000 a month or $50,000 a year.  That's right $50,000 a year (not a mistake with the zeros).  I'll be 309 years old when I finish withdrawing. 

Where do you plan to cash out if you're in the US?  

 

 

The best thing to do is to open accounts with every exchange that you can, and get the highest verification you can with them all too. As long as you have your coins stored away from the exchange, you could blitz them all when its time to cash out. That's my plan anyway.

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1 hour ago, BrianPBell said:

Totally new here ... but read all the time.

I use Kraken for my transactions, and I have Tier 4 access which allows me to deposit / withdraw crypto  or fiat up to $500,000 USD a month.  However, they just changed their policy to only allows me to deposit / withdraw crypto  or fiat up $25,000 a day, or $50,000 a month or $50,000 a year.  That's right $50,000 a year (not a mistake with the zeros).  I'll be 309 years old when I finish withdrawing. 

Where do you plan to cash out if you're in the US?  

 

 

I got mine verified to Tier 4 a while ago and it still says $100k/daily and $500k/month.

So maybe the new rule only applies to accounts verified recently or after the change?

I'm not sure. But you can always upgrade your account to business and not be limited by withdrawal limit anyway.

 

Or you can use bitstamp which I don't think has a fiat withdrawal limit once you are verified. They take a very small fee.

Edited by nvok
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1 minute ago, nvok said:

I got mine verified to Tier 4 a while ago and it still says $100k/daily and $500k/month.

So maybe the new rule only applies to accounts verified recently or after the change?

I'm not sure. But you can always upgrade your account to business and not be limited by withdrawal limit anyway.

Yes it states Tier 4 for me too but if you try to send it fails.  (https://support.kraken.com/hc/en-us/articles/115011505128-What-are-USD-deposit-and-withdrawal-limits-for-U-S-residents-)

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11 minutes ago, nvok said:

Yeah look into Bitstamp instead. I never used them for fiat withdrawals but as long as you are fully verified, there shouldn't be any limit.

I have a bitstamp account but I haven't used them for fiat withdrawals either.  I wasn't aware they did that.  Looks like they use SEPA for the transfers.  Wow!  I've always wanted a Swiss bank account.  :yahoo:

 

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13 minutes ago, Greeny said:

Gemini has been good for me.  They only trade in BTC and ETH though, so you would have to trade on an exchange for one of those first.

 

I'm verified there too but never used it. What's BTC to fiat withdrawal limit on Gemini?

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4 hours ago, Phintech said:

I imagine that moving from XRP to fiat will become much easier as liquidity increases and the system matures, especially if banks are involved. 

This.      By the time we want to sell it wont be a "sell".

It will be simply transferring from your ripple account to your fiat account.  The bank will instantly do the transfer.

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