How to buy big amounts of crypto?

[BritishSecret]

How do wealthy people buy big amounts of crypto for tax planning/avoidance?

 

[Sols]

Usually via OTC desks such as Kraken or other major exchanges with deep liquidity.

The problem‌ with smaller exchanges is you'd almost drain them if you need to convert a few‍ million in one go.

 

[void]

I'm more interested in nonKYC scenario when buying for hundreds of thousands...

 

[Wellington]

No such thing anymore...

What you are referring to is OTB (over the‌ bench) - > Highly dangerous, possibly illegal (for the counterparty) etc.

Dependent on your location‍ though there's normally many parties that do this, where i am it's the Russian's (asia).⁠

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Legit method is OTC, which is usually carried out on the exchange (different access⁤ point).
Full KYC/AML and Reporting (which is good as you get invoices/docs) for Source Of⁣ Wealth, Source of Funds, Conversion Quote, Completion Doc, etc.

 

[Sudox]

This is still possible, but you'd end up paying far higher in fees‌ than if you'd just go through the process of complying with AML regulations. Depends entirely‍ on payment method and region (Don't even think about doing this in the US). P2P⁠ trades and paying cash in-person can work, and there are Russians in most European cities⁤ offering this service. There are also a lot of scams out there eg fake notes,⁣ so it's important to deal with someone reputable.

 

[jesuschrist]

Kraken OTC is the n1.
Coinlist.co/otc is also good but thats more for newly launched‌ tokens and the minimum size is 1m $.

Hundreds of thousands are not that much,‍ you can even buy for millions in the spot market just distribute it among the⁠ Top 5 exchanges.
If you are fairly sure you will push the price open a⁤ Futures position before, so you will get back in profit what you lose on the⁣ increased price.