Bit coin cashing out

Can we cashout.bit coins or is account suspended. Whats the maximum limit to receive. Support are clueless

Not supported in anyway I believe.

Try it you’ll probably find account getting closed though, high probability in fact.

Cashing out from where? Coinbase or a private sale?

Is this based on anything other than anecdote?

I’ve faster payment’ed in and out of Coinbase and had no problems, including a nice four figure sum.

Is there another sort of four figure sum? :wink:

Horrible ones when you have to pay for a new boiler! or having to take that nice four figure sum, and pay off the loan for the new tooth



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I think if you move some Bitcoin around but otherwise have a salaried and regularly used account you are fine with most banks. Problems are likely with any bank of you are making a lot of transactions or it’s the main thing you are using your account for.

Either way it’s good to keep a clear record of the funds in case you get asked to prove the source of the payments.

Surely a bank can’t legally shut you down, simply enquire as to what’s going on or report you for investigation, or something similar which falls under the legal spectrum?

The government has published clear tax rules fir crypto. A bank can’t link a crypto exchange to transactions into your account to your tax payments and therefore can’t determine if you’re breaking the law?

Fir reference :slight_smile:

A bank can close your account if they don’t like your haircut.

They’re not legally obliged to offer you an account.


Haha best answer ever !! Good point !! I clearly have also never read bank T&C - not clever


Aside from the point about banks being able to close your accounts whatever, that’s not how anti money laundering with banks works either.

It’s the opposite of them needing to prove you are breaking the law. Banks have a responsibility to make sure that they are not processing illegal funds or enabling money laundering, so often they need proof you aren’t breaking the law.

That’s where crypto is super high risk for them because it’s very difficult to track the source of crypto funds. If the bank is worried about source of funds, they’ll close the account to be safe.

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I wonder what Revoluts view on this is
They support crypto but only fiat in and out
Wonder what happens if you Fiat in to Revolut but from a crypto exchange :wink: