legally earn bitcoin (Crypto) cashout method without any setup in Dubai or any other juridication

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Yes, pretty much, however, if you're a new customer or⁤ haven't trade with them before it might take 2-3 days to complete the transaction. just⁣ send and email to their OTC desk at [email protected] and tell them about your inquiry⁢ and that you are a new customer, and you might be able to expedite your︀ verification process.
 
Sounds good. But if everything is so easy, why people use for example⁤ Freds setup in Dubai to cash out their crypto and other solutions that cost not⁣ so small money? It's interesting, but I think any euro bank will not like payment⁢ from Kraken and other crypto exchange in amount with at lease 5 numbers and more.︀ At lease they will block this transfer, IMO.
 
You are right.
Problems not in exchange side, but on banks receiver side. Banks not likes crypto.
Once you⁣ got bank who is crypto tolerance, you could send money to it from any reputable⁢ crypto exchange without single problem: kraken, bitstamp, binance, bitfinex, etc.
 
I find that Banks are there for cash out but⁤ nobody want to give their names for free. (Personal Opinion)

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Hey, I'm not sure whether you have looked into Dubai further, but I know a‌ few people who have managed to exchange larger sums to bank accounts without issues in‍ Dubai.
It is probably easier if you just want it in cash, but obviously thats⁠ not possible with this amount, so it might require some "paperwork" to convince the banks,⁤ but yeah many work arounds do exist.
For an amount this big I would personally⁣ setup a freezone company in Dubai to receive the exchanged amounts in slowly over a⁢ few month to avoid issues and then move it somewhere else.
 
The problem also is that crypto is very volatile. Today btc can be 50k,︁ in a week 40k, in a month 55k and so on.
 
Yeah true, its much easier to exchange it to USDT. There are a few places⁠ in Dubai where you can exchange larger amounts from USDT, and you definitely get a⁤ much better rate.
 
What kind of business would you⁠ register for that? If you could get a business bank account that accepts those payments⁤ it sounds like a good solution, but I imagine most banks aren’t going to like⁣ to hear your business is in crypto and receiving exchange withdrawals?
 
Take a look at coinsfera-com for example. They advertise on bitcoin-talk. I'm also interested to‌ find more options.
 
How about to create a new wallet, verify it, and receive coins from your old‌ anonymous wallet, use an invoice which you just make up and no one can claim‍ it is your fault. You can always invoice someone that you never meet!
 
They are unofficial exchanges, so no URL there. But yeah check out coinsfera, bit‍ oasis etc. or p2p on binance to cash out smaller amounts on a regular basis,⁠ probably safer anyways.
These unofficial exchanges are more suited for someone who needs dummy receipts⁤ from a company to justify bigger transactions. But feel free to pm me if you⁣ want more details.

It depends on your background,︂ and what you can come up with if questioned, so if you have knowledge about︃ a certain business or a degree that qualifies you to operate certain business activities, then︄ that might be easier for you to run and justify. But usually something like computer︅ consultancy, advertising consultancy, some form of business management firm, software design etc are all viable︆ options, and you could be getting clients from around the world since its remote work.︇ If you do plan to stay in the UAE for sometime and invest then you︈ might have other options available too like real estate for instance (a few brokers are︉ starting to accept BTC).

I remember reading some good replies on the forum when one︊ of the members was asking about setting up a company in Dubai and opening a︋ bank account etc. so you can check that out.
 
That won't work, because you have to‍ justify the cash and those guys won't give you invoice and most likely they all⁠ deal in cash.
 
and there is some legal solution for withdrawing cryptocurrency from binance, is there a bank‌ that accepts such payments? in any juridication?
 
A lot of‍ banks and EMI allow crypto.
Depend on your residence they could onboard or reject you.⁠ So if you share it we could filter out what will be suitable for you.⁤
 
What about Cyprus? Some say it's so crypto friendy, others say it's not. Does anyone‌ have any experience?
 
Could you please elaborate why Germany would be a good place to cash out? I am⁢ now reading the BMF letter which seems to confirm the 1 year holding period. Also︀ seems to clearly differentiate between private and commercial (latter is taxed at usual income rates).︁ For banks' attitudes towards crypto, I am not sure.
 
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