hello. so I live in europe, unfortunately I live in a tax hell, not a tax haven. and I would like to know how to stay under the radar when you cash out your crypto in a online bank or EMA's as you call it. what would be the maximum amount allowed to cash out per months to stay under the radar? I don't want to create an LLC we have a flat tax of 33,33% where I live. I use paypal, Transferwise,N26, Revolut. also do you have any alternative for the current payment solution that I am currently using? and for an higher quantity of withdraw like 6 - 7 figure, what strategy or banks would you like to use in order to preserve your wealth and reclaim your financial independance?
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how to stay under the radar when you withdrawing your cryptocurrency (4-5 or 6 figure?)
- Thread starter Bit08425
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- avoid tax crypto currency
hey
the question is where is your crypto and how did you purchase it.
does your government know you own it?
if not then there are many ways to move it to safe places.
if they know you own it you should just get a tax advice to find the least expensive way to go.
are you sure you even want it in fiat?
cheers
the question is where is your crypto and how did you purchase it.
does your government know you own it?
if not then there are many ways to move it to safe places.
if they know you own it you should just get a tax advice to find the least expensive way to go.
are you sure you even want it in fiat?
cheers
well, most of my crypto are on binance so when it come to privacy I guess I can forget it. but the government don't know anything about it, I believe it don't even care with all of the things currently going on in the country. I don't want to cash everything out, but I would like to cash out a part of it so I can pay for the regular things like rent, food, bill, clothes, car etc. and afford some travel too in order to chill a lil bit for few months. trading is really an emotionally and mentally draining activity, especially when you scalping on daily and use leverage.
simlest setup for frequently cashing out a couple of k in €
put mycelium wallet app on any android/ios device(no sim nedded)
send btc from binance to that wallet- if you want add privacy by using cryptomixer.io
find BTC ATM and go there (use mask because of covid19
)pay in from mycelium and take away cash
those ATM are found in different countries (hopefully in your country too)
put mycelium wallet app on any android/ios device(no sim nedded)
send btc from binance to that wallet- if you want add privacy by using cryptomixer.io
find BTC ATM and go there (use mask because of covid19
)pay in from mycelium and take away cashthose ATM are found in different countries (hopefully in your country too)
simlest setup for frequently cashing out a couple of k in €
put mycelium wallet app on any android/ios device(no sim nedded)
send btc from binance to that wallet- if you want add privacy by using cryptomixer.io
find BTC ATM and go there (use mask because of covid19
those ATM are found in different countries (hopefully in your country too)
This is an idea, yes but only if you can find an ATM with a sub 3% spread since most are more expensive.
Also, I'd add a VPN to the mix and you should be good. If you can wait and travel to Bulgaria after this is over, I can tell you how you can get this done for about 3% in costs.
I mean that an nice Idea but unfortunately, BTC ATM don't exist in my country. and when I said cash out, I was simply saying transfering my cryptos to an online bank account or EMI like transferwise etc.
Then the only way would be via AdvCash or setting up a company in a different country.
yeah I heard about Advcash. their website is down apparently or have problems. I guess I should try to look at setting a company in a low tax or tax free country but it take so much time. I would like to take out like 50k- 100k and put that on one of my debit card but it will probably attract attention in a negative way.
Replace "probably" with "100%" and your sentence will be accurate.
Forget about doing this and not paying taxes, it's a criminal offence and the fines will probably be more than the funds themselves.
yeah that's crazy. more precisely an 500000€ penalty and 5 years in prison. I hate this government. and I wish I was born in singapore or monaco.
Exchange BTC to cash in person, usually it can be done for 5-7% for those figure, use hodlhodl.com and google.
Alternatively you can buy multiple gold bars (check moro.si) and then exchange that for cash.
Of course dont forget to declare this and pay taxes
Alternatively you can buy multiple gold bars (check moro.si) and then exchange that for cash.
Of course dont forget to declare this and pay taxes
So it would be cheaper to create a AdvCash account and cash out on the ATM's as you go.
Are these the guys working with Bitstamp? I don't have direct experience, would be nice to know (from someone with recent experience) it if makes sense, sounds like a great way to get ripped off on bad rates and delivery fees.
BTC to cash is the way to go in this case. If you're a daytrader you might want to think about moving out too
No recent experience, but a few years ago I bought a few hundred grams gold via Moro's website and picked it up at their office in Ljubljana. The office and personnel were professional. Whenever I've compared, Moro's BTC prices have been better than e.g. BullionStar's. In short I trust them and probably won't visit Ljubljana or Zagreb without getting some gold.
Right now it is a bad time though, because the Swiss refineries have been down due to corona. Not much stuff for sale and margins are insane.
Yes, they were those guys in the past, now they have no connection as far as I know. I visited their office personally, so have no experience for delivery. They were always very professional and quick.
And how many withdrawals (or how much time) you need for 6-7 figures? I would not trust any EMI or other website with those amounts for a long period.
it will take some times, 500 EURO per withdrawal 5 times a day - you can do the math
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