Let's discuss, for example, you have some crypto on your cold wallet and want to change it to USD or EUR and get it on your bank account in good bank. What are your actions? Cryptocurrency is personal, nothing black, but it is difficult to find confirmation of its purchase or receipt. We are talking about amounts in USD/EUR with 5-6 digits, so not super huge amounts like billions.
The point is to get dollars or euros as a result to my personal bank account in a bank in Europe, for example, which I can then use for investments, for example, buying real estate in Europe or stocks on some broker (not euro, but WW). Naturally, it is necessary that the bank reacts normally to this kind of transfers, and it is also possible later to confirm these funds somehow (for example, when buying real estate).
Before as I know these guys could help in this - dukascopy, alt.co, seba.swiss, bankfrick, swissquote. But for some of them there are a lot of bad feedback in the Internet, some of them are working with amounts from 7 digits only, some of them only for EU passport holders and so on. Also, Revolut and Wise do not like crypto anymore as I know and also they often block any accounts just without any reason last time.
I do not have a Euro passport, but I am also do not have a passport of any country that is under EU or US sanctions.
So, what your thoughts about this question in 2023? The goal is to correctly transfer cryptocurrency to fiat, perhaps paying a small tax, but protecting yourself from the consequences later.
If I understand your case, we should know a little more information about your country and what is your idea of what you want to do and where you want to settle to ensure that everything is done correctly and you can enjoy your money where you prefer.
You need to somehow declare these funds and their origin, normally in countries of the European Union with tougher and more written taxes, for this you will need someone to collaborate with you who can reach an agreement, to somehow (there are thousands) search or create one that your funds have a legal outcome.
Because for governments, not being able to prove the origin of these funds with any receipt, confirmation or structure, I'm afraid that for the government itself it is = illegal funds.
Honestly, I have never used the people you mentioned before and I will not, I have always done things by my own hand, I have +10 years of experience in this sector and you could perfectly do it without having to need anyone, simply with a little spark and a little information.
Everything is to inform you and see what is best for you, both in %, commissions, places, crypto friendly banks, everything depends more specifically on how you need, that is, your idea and honestly and in my opinion I do not want to bother the rest of people who answered about " deal P2P ", it is possible that you can receive certain payments in your personal bank account through p2p deal online without problem, but you think you will be able to exchange 5-6 figures without having to explain to the government - bank, It is possible that you can pay taxes like anyone else, but the point is that you do not have the origin of the funds, both from the cryptos and from the bank, and for example a transaction greater than 3000 EUR without having to be cash, and by that I mean to SEPA, in most of the countries of the European Union conglomerate, and by European law the bank itself would have to inform the government in question, if what you think is to do a kind of trickle operation, daily, weekly, men Usually it does not exceed certain limits, well, it is fine as an individual, but it could be done in better ways and in faster and cheaper ways, apart from a drip operation that reaches certain amounts, you would have to register as an entity.
A practical example of thousands:
1. Create a crypto-friendly entity, in a country with 0 taxation of cryptocurrencies, that offers services based on the crypto sector (for example, a company that is dedicated to digital art (NFT'S) in specific.
2. From your company you add some or several NFTs to sell on a virtual platform.
3. You yourself, from your cold wallet, buy it at the price you choose above.
4.Then from your company you simply have to invoice that charge through cryptocurrencies, and since in this country they are not taxed, you will have no problem having your cryptocurrencies in FIAT safely, and legally in the bank paying the minimum possible.
5. After obtaining the money in your bank account as we mentioned before, in your cold wallet you keep your own collection of digital art or NFT's with certain values of speculation, that perhaps you can make a profit with speculators who work with digital art from all over the world. class, in this example alone, you may even earn a nice profit on this transaction.)
All this can be done in a country of the European Union that has 0% taxes against cryptocurrencies, if you are looking to settle in this location for the businesses that you told me about real estate .. etc.
Clearly you have to have this company completely legal, preferably with minimal billing, and maybe you have to pay costs but nothing about your cryptocurrencies, maybe you have to pay for corporate taxes, but that has nothing to do with your cryptocurrencies, it is another theme that can also be played easily for our benefit, and like this example there are many more practical ones.
