One, 800 Bitcoins cannot be reflected on the bank card.

This question is wrong because 800 Bitcoins cannot be reflected in the bank card.

Bitcoins can be transferred to a Bitcoin wallet, similar to sending an email to your own email address. This process is called a currency withdrawal, not a cash withdrawal.

If you want to withdraw 800 Bitcoins, you must first sell the Bitcoins and convert them into cash, and then transfer them to your bank card.

2. Things to note when withdrawing coins and cash.

1. Withdraw coins, that is, transfer coins.

Withdrawing and transferring coins is similar to sending an email, but the email address must be correct, otherwise the 800 Bitcoins will disappear and cannot be retrieved. Therefore, withdrawing and transferring coins is inherently risky. The key point is that the wallet address must be correct.

2. Withdraw cash.

To withdraw cash, you need to sell your Bitcoins first. 800 Bitcoins is a large number in the world. You need to sell them in batches, not all at once. This will have an impact on the price of Bitcoin and will also make it difficult for you. Sell ​​Bitcoin at the ideal price.

Before selling Bitcoin, if the Bitcoin is not in the exchange's account, you still need to transfer the Bitcoin to the exchange's account. According to trading experience, if the Japanese trading platform exceeds 20 Bitcoins, which is a large amount, it will take longer to accept Bitcoins and cannot be credited at that time. Investors must be aware of this.

3. Review of withdrawal transactions.

800 Bitcoins correspond to the current Bitcoin price of about 8,000 US dollars, and the total amount is 6.4 million US dollars, which is equivalent to about 35 million RMB. Therefore, this amount of money is not a small amount of money.

When the cash is transferred out of the trading platform, the trading platform will review it. At the same time, the trading platform will charge a handling fee. Different platforms have different charging standards. Of course, the review of the trading platform is just a simple process and will not prevent the money from being transferred.

According to domestic anti-money laundering laws, 800 Bitcoins are equivalent to more than 30 million yuan. If you transfer it to a personal account, you will definitely be subject to risk control, and then go to the bank to have tea and review the funds. This is not necessarily the case if it is a business account. Many companies have turnovers of hundreds of millions. Of course, small businesses will still be frozen by risk control. If you can reasonably explain the source of the payment and provide KYC, it's basically not a big problem. But the problem is that both parties to large Bitcoin transactions are often unwilling to do KYC, so they either transfer the funds to multiple banks separately, or go to overseas banks for processing, such as HSBC, Standard Chartered, etc. in Hong Kong.

If the cash is in RMB, then the audit risk is not high when it enters the bank account. However, if the cash is in US dollars or other foreign currencies and enters a bank account, it may encounter strict foreign exchange review. Now the United States has begun to tax Bitcoin transactions, and other countries are also following this tax policy.

As a blockchain practitioner with 2 years of experience, although I have never seen anyone withdraw 800 Bitcoins with my own eyes, it is not impossible. Currently in a bear market, the price of a single Bitcoin is 44,000 yuan, and 800 is (800*44000=35200000), which is 35 million. Get it together.

Read carefully below, I will teach you how to operate and what situations you may encounter:

1. Time limit issue

Sell ​​all the 800 BTC you proposed, and then withdraw it to a bank card. There's a problem with this question: time limits.

For example, you can ship within one month and then withdraw cash; you can also ship within one week and then withdraw cash. After all, this is a pretty large amount of money. Of course, if you ask me, can one day be enough? I think the chances are slim.

Anyone who has conducted Bitcoin transactions knows that major mainstream exchanges will limit the daily trading volume, which generally ranges from 10 to 100 Bitcoins. Of course, if you are in a hurry, you can choose multiple exchanges to trade at the same time. But there is a problem: general exchanges have limited pending orders. In other words, if you want to sell 800 Bitcoins, someone must first place a purchase order on the exchange. For example, the Bitcoins or other TOkens in the hands of many large investors were not bought all at once, but were hoarded over a period of time. For example, at the end of the bull market, when currency prices continue to fall, market panic causes most people to ship. This is an excellent opportunity to stock up. Therefore, the first question you have to consider is: How long do you plan to sell out all 800 Bitcoins? How much does it cost?

2. Continuous shipment without risk

In fact, if you trade and ship goods one after another, you will basically not be subject to transaction review. For example, if you trade on 4 exchanges and sell 2 Bitcoins on each exchange every day, you can sell 800 Bitcoins in 100 days. Even if you always withdraw money to a bank card, it doesn't matter. . Because most exchanges will have real-name authentication, banks will find out.

In addition, 35 million is actually not much. Imagine if you could get 800 Bitcoins, you would definitely have a huge bill. Of course, if you obtained Bitcoin through theft, others can actually check it through the Bitcoin address. So, if your 800 Bitcoins are clean, you don’t have to worry about being censored.

As mentioned before, even if you want to ship 800 Bitcoins at one time, you may not be able to find a suitable buyer. If you are introduced by a friend and do not go to the exchange, it is still possible, but be careful not to be deceived.

If it is a face-to-face transaction, it must be a one-time transaction. The other party will transfer the money to you in one lump sum. This situation may be reviewed by the bank. Think about it, suddenly you have an extra 35 million on your bank card, which will certainly attract attention.

3. Safe shipment

As mentioned above, you'd better choose to ship in batches to avoid a lot of trouble. In fact, the operation is also very simple. As I just said, sell 1-2 Bitcoins every day and convert them to USDT through 4-5 exchanges. Then, USDT is sold in batches every day and converted into RMB. In 3 months, basically all 800 Bitcoins can be sold.

Of course, you can also directly trade through large transactions, or backdoor a company. The income from selling Bitcoin after paying taxes is completely legal and compliant.