How to buy bitcoin and trade cryptocurrencies:
a step-by-step guide
1. Decide on the volume and the rate.
The rate is set depending on the Bitcoin volume being traded as well as which side is paying for the escrow fee or the brokerage fee.
2. Buyer provides LoI and POF
3. Seller provides proof of coin (Image or video)
4. Buyer and Seller provides KYC
5. Seller sends 1 satoshi
6. A formal contract through the lawyer.
7. Proceed with escrow (HSBC, Wells Fargo, Citibank, Bank of America ...etc)
These are the frequently asked questions for large volume BTC trades.
Minimum amount that can be brokered is $10 million and BTC trading price is from 2% to 5% discount from the market standard.
Not to disperse the coins into the market. It's to move it between one seller who has decided to sell, to ideally one buyer who would like to get in to hold.
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