Kraken Confusion re: Max Fiat withdrawal for U.S. Citizen
I recently applied for Tier 4 Verification on Kraken.
I received the following response from Kraken Support:
Begin Support Ticket Excerpt: Felix (Kraken Support) Aug 30, 13:50 PDT
Hi Stephen,
Before we start the Tier 4 Individual application, there is something I need to point out.
Due to regulations, any Individual account in the US may only have a maximum annual withdrawal cap of $100,000, and that's only if a proof of source of funds is provided. This is well under the amount you have specified you plan to perform.
For this reason, I strongly suggest that, if this is an option available to you, you should consider applying for a Corporate account. These accounts have substantially higher annual deposit and withdrawal limits. End Support Ticket Excerpt
So I opened a Corporate Account. This type of account supposedly allows for Unincorporated Businesses (aka Schedule C's).
When I told support that this type of business entity does not have Articles of Incorporation, I was told that Articles are a requirement. Why don't I consider just using a Tier 4 on my personal account?
And, around and around I go!
I can see in the near future where many of us will have a few million dollars in fiat money from the likes of BTC, ETH or XRP really take off. I would like some guidance on which way to go with Kraken, please!
Stephen
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