ignition sequence start hey this is the
digital asset investor today I'm going
to talk to you about the number one
question that I get on this channel and
that is how do I cash out and what I'm
going to do is I'm going to do a
hypothetical here and let's pretend for
today's video that that the people that
made the wildest predictions that there
are for this year end of year 2018 were
correct and all of a sudden I want to
take out some and I'm gonna I want to
I've got $500,000 worth of XRP that I
want to sell five thousand US dollars
worth of X RP and I'm gonna sell it and
I want to be able to sell it and get it
into my US bank account I'm going to
show you how I would do that to get it
into my US bank account and I'm also
going to show you what I would do if I
was going if I lived in Europe now a lot
of the people in Europe that are
listening you may have better options
over there that you know about that I
don't know about I'm just going to tell
you how to do it based on what I do know
and so moving along so we're dealing
with five or five hundred thousand US
dollars worth of x RP I'm trying to get
it out before I go into it I want to
discuss liquidity with you because
liquidity is what matters and I know
that a lot of you hate coinbase and you
you don't like some of the exchanges
that I will mention but it's irrelevant
what's relevant to me in this discussion
is what I think the most liquid way for
me to get out is because believe it or
not we are still in a in a place where
liquidity is a problem in this market
and it is not you know it can change
drastically in the next six months but
for those of us that are average joe's
liquidity
is still an issue so I want to find the
most liquid XRP outlets for me finance
is mine okay bond it's a lot of these I
can't I don't have access to but in
these top 10 x RP the bond it's market
the bond at sex RP BTC market
specifically now let's look at Bitcoin
and the markets that are liquid for that
in in the United States for me the one
that that but you got bonnets and then
of course coin based Pro the reason I'm
still attracted to coin basis because
coin base has a four or five year track
record of dealing with the banks in the
United States it will be easier for me
as I sit here right now it will be
easier for me to get US dollars into a
US bank account going through coinbase
when I'm coming out of the digital asset
world I know this for a fact it's just
the way it is right now that's going to
change drastically over the next year
two years but for now I still believe
it's the case um and and there's other
reasons as well but I'll get into so
first okay as a US citizen the first
thing I'm going to do and before I
before I go into this I'm going to want
to show you this I showed some of you
this on a young in a video prior to
today that my ex RP I hold on a legend
nos they're running until November 21st
they're running at 20% off you can get
one of the traditional black legend ana
if you buy one black man OS and one
color they've got them in various colors
now they'll give you 20% off if you get
one black and then two that are
multicolor don't give you 30% off this
is a killer deal this is in the
description of all of my videos go get
one if you don't have one it's the only
safe way to store your assets okay back
to the ledger live interface so here's
how I start to get my $500,000 into my
bank account I've got my ex RP here I'm
going to send it from this is the ledger
live this is this software the inner
the interface that works with your
ledger and nos so I will send the
excerpt P using I have an X R P address
on what I'm going to show you now which
is I'm going to send it over to bananas
okay so I've got finance I'm gonna go to
the x RP Bitcoin market on bond it's I'm
gonna sell my x RP in the Bitcoin and I
know a lot of you are gonna are gonna
get mad when I show you this because you
hate coinbase you hate what I'm about to
do well I still say it is the most
liquid it's the fastest and the easiest
way without red flagging some bank and
then thinking you're up just no good
going through coinbase to a bank account
and this is the pathway that that I plan
to use right now that could change next
month okay but before I go any further I
want to explain something else to you
those of you that have a body--it
account if you set up your balance
account when they first set you up you
have a 24 hour withdrawal limit of two
BTC that will do you no good if you're
trying to get out a huge amount of money
like what we're talking about five
hundred thousand dollars is your five
hundred thousand even if you've got your
X Arpita bun it's and sold it into
Bitcoin it's going to be stuck there if
you have not going gone through the
approval process you've got to give them
some identification give them some other
things and they will look previous not
very hard to do 424 withdrawal limit of
a hundred Bitcoin in today's dollars and
worth of Bitcoin that would be plenty
for what I'm trying to do in this video
so go do it today is it so you have also
to do the same thing on bit tricks and
I'll talk about them in a minute
so go to Victrix and they'll approve you
for this same limit right here last they
approved me for it anyway okay so now we
have sold our x RP on bonnet so we've
sold it into Bitcoin so now I'm going to
send it over to my coinbase pro account
this I now have Bitcoin and I'm going to
sell
all that Bitcoin into US dollars now on
coin based Pro you have to link your
bank account just like you do with all
these other a lot of these other
exchanges well from coin based Pro
you've got the same issue with
withdrawals let's say you've got your
withdrawal limit problem satisfied with
finance well if you don't have it set up
correctly with coinbase you've
accomplished nothing
this coin base has the same type system
the request to increase your withdrawal
in it you have to set this up you have
to go and apply them and tell them why
you're you're wanting this withdrawal
you have to go in and you also want to
get your bank account set up with these
guys so that you're linked so that you
and I know for a fact that that coin
base has a very high limits at least
500k that they that you can be set up
and you can just tell them that you're a
an XRP whale or something that and that
you need a you need you plan on exiting
you plan on cashing out through their
system and you'd like that to be
approved for a higher limit okay so once
you cash out a coin base tie tie it's in
your bank account so um now the I did
want to go over bit ryx because many of
you are gonna tell me bit ryx you can
also do this and so what I'm going to do
is show you vetrix you could also do
what I just described and you can send
your XRP from your legend nos on to
andhe bit Rick's platform in rhetorics
for those of you that don't know is one
of X Rapids liquidity providers that's
not too relevant to when you to you
trying to cash out but it's just a piece
of information that's interesting to
know but for the purposes of cashing out
you would send your ex RP two-bit ryx
you have to have gone through those same
type approval things that I mentioned to
you before and and--but ryx has only
approved on a state-by-state basis
though they've improved Georgia which is
where other that they've improved on a
state-by-state basis you'll see here I
have not been approved to do these you
have no withdrawal addresses configured
I haven't linked my bank account but you
can link your bank account and to my
understanding is that there is not a USD
withdrawal limit at bit ryx
on some of you may be able to crack that
but I'm pretty sure that's correct okay
well what if I live in Europe what would
I do
same thing I would go I would go from
ledger but in in my opinion one of my
favorite all-time exchanges that I don't
use much anymore is bitstamp
and I would go my ex RP would go
straight from the legend nos and it
would go on to bet stamp which is what
you're looking at here I would go I'm
assuming most of you over there would be
dealing in Euros and so I would sell my
ex RP into euros and then the bit tricks
platform allows you I'm sorry the bit
stamp platform they have the same type
of you have to go you know you prat the
link your bank account but you can I
think they call it a sapa over there and
you can you will once you've sold your
ex RP into euro you'll be able to
initiate a transfer into your bank
account and I do not think they have a
limit on in bitstamp if you wanted
there's also a way if you're a US
citizen you bitstamp will do
international wires from if you wanted
to sell your ex RP into US dollars on
bit snip you can do an international
wire to your bank in the United States
but I'm not going to do it that way
because I believe that that I believe a
lot of these banks in the US would red
flag that still even today there's one
final thing I wanted to talk to you
about having to do with all this and
that is the OTC market when you're
dealing the OTC market does not just
deal with institutional traders there is
another option for those of you that
wanted to
do this if you wanted to go through this
is circle trade this is there OTC
platform they only deal and this is an
individual application and remember
circle is um is circle owns Polonius
but Goldman Sachs and part of circle so
a circle is a huge up this is a big deal
and so they right now they only support
btc-e th B CH and LTC so you would have
to in order to do this unless you're
able to find an OTC company that
supports XRP you could you could apply
here this is a registration form for an
individual to apply to do o TC trading
if you wanted to try to do yours in bulk
through an OTC platform but you would
have to go to say finance or bit ryx
convert it and then send it to these
guys in BTC or aetherium most likely
something like that or like coin you can
do it that way um but I have not done
this now this is something I've thought
about but I would probably wait until
they had x RP I am the digital asset
investor I'm not an investment advisor
this is for entertainment purposes only
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