Is buying too much BTC a flag?

Specifically talking about from Coinbase/Circle & similar platforms that come directly from a bank account. Does it raise flags if you're buying bitcoin often? Or is buying too much during a certain timeframe suspicious?


Comments


[10 Points] aboutthednm:

Can you raise it? Does it flap? If the answer is no, then it's not a flag.


[1 Points] None:

Coinbase, yes. Circle I haven't heard much about, but it seems they're going down a similar route.


[1 Points] AlabamaJesus:

Get a wallet you control from your pc. Get a pre paid visa and go to localbitcoins or something similiar and store them in your own wallet, password protected and encrypted.

Electrum is what I use as a wallet.


[1 Points] itsaprankbrochill:

I've had the same thought. I use Circle. If they decided to ban me I could just say that I buy and sell alot for whenever it spikes up a bit for extra cash or whatever. Or sometimes I need the money for bills or something so I sell it back or whatever. Idk, im high and trying my best to be of help


[1 Points] SunnyBadlands:

I've also wondered the same thing but not necessarily caring about the exchange..more like the IRS or banking niggas


[1 Points] None:

just use localbitcoins cash-by-mail, or in person cash trades. cash in mail traders usually charge 4-8%, in person like 3-10% in my experience. but you don't have to tumble.

compared to buying on circle/coinbase, which charge like 2-3% if I remember correctly, plus 2-3% tumbling fee. post-purchase, you end up paying a ~2.5% fee on your remaining ~97.5%, so once all's said and done you paid ~5% total in fees.

assume 6% fees for cash by mail, plus $6.45 for shipping. total comes to be 6% + 6.45, with complete anonymity and zero limits. compared to paying ~5% and having all that shit linked directly to your personal information.


[1 Points] None:

Is existing a flag?