In case anyone wants to cash out some of his LINK gains (which I do not recommend) and doesn't want to get screwed like this retard (), here are a few tips I heard from quite a few wealthy people I know:
1. NEVER fucking NEVER cash out everything at once into your everyday poorfag account. Every bank will freeze it and you might have a lot of stuff to explain before ever seeing that money. Go to a decent bank before you cash out, tell them you made some money in crypto and always set up a new account for this case. Also see a tax consultant depending on where you live and keep all important trades you ever made on paper, or at least have some decent story where the money came from in case an exchange went down. You really do not want to fuck with your countries tax office and are better off paying a few bucks extra for a consultant. 2. Actually,. try to set up several bank accounts where you cash out smaller summs. Like 100k-250k into 4-10 accounts from different banks instead of 1M into one. You decrease the risk of you bank jewing you and losing everything if they go broke. Also, if you ever want to tell your wife/family about the money you made (which is usually a bad idea), you can start by telling them about only one account you cashed out some money into and keep the others secret. 3. Get at least one account abroad depending on your countries laws. Usually, no one can forbid you having an account in Switzerland or something like that, as long as the money is taxed in your home country. Also lowers the risk of you getting fucked by a local crisis.
Feel free to add something in case I'm wrong somewhere
Why would you cash out everything at once, even in different accounts? Why not just 5% every month or so?
Christopher Wilson
because your gains go from 100x to 50x to 20x to 10x to 5x as you cash out and the peak passes for your crypto
Colton Clark
im going to in 2021, no joke. so explain to me the benefits. for real.
Jose Gray
Because this is crypto and shit can drop 90% in a matter of weeks
Thomas Robinson
You can't buy a car with gold
Benjamin Green
you probably could quite easily
Robert Ward
What if you buy USDC/USDT/any other stablecoin?
Kevin Wilson
I assume none of you hold link then, this isn't fuckin doge coin or tron if link succeeds it will keep going higher. Also selling out in parcels is the right way to do it. You aren't going to pick the top
Michael Clark
even they can pump and dump.
That is the big brained move though IMO
Cash out to stable coin (or 2 or 3 stable coins) and then cash out for real over a couple of months.
Problem with this is that you get fucked over with fees from coinbase for doing so. The less you cash out , the more you pay to coinbase. The fees and tax add up and you'll end up with like 30% of your crypto gains gone.
Also Coinbase actually lets you deposit in to a euro/usd bank account on their site so a stablecoin may not be needed.
Also anyody else have another cash out service that is just as reliable as coinbase with less jewish fees?
Sebastian Sanders
Very easily actually. Just find a dealer that's not retarded
Tyler Gray
>what is legal tender
Cooper Baker
Why the fuck do they make it so difficult for us to get our gains?
Wyatt Harris
I actually bookmarked that previous thread, thanks.
Colton Garcia
You think kikes and the fucking (((central banking systems))) will let a couple of autists be rich with internet tokens? Fuck the US govt too.
Jaxon Green
they don't, this board is just full of retards that try to beat the IRS and not warn their bank that they're going to deposit over $10k... your account can get frozen from fucking traveling. banks are stupid
Leo Young
Bruh. Coinbase Pro.
Only retarded newfags use normiebase.
Carson Davis
have been meaning to sign up for years
Will do it now
Asher Torres
>Coinbase Pro still can't escape the irs and jewry of your local bank through this. or can you?
Joshua Barnes
This is what stablecoins are for. Fuck tether, but USDC is audited and coinbase swaps it for dollars for no additional fees
Gavin Williams
This, who the fuck doesn't use coinbase pro? I assume whenever someone says coinbase that they're using the pro version. There's no reason not to.
Okay but that's true no matter what way you cash out to fiat unless you do some risky shady shit on localbitcoins or put on a disguise and use a bitcoin ATM that rapes you in fees and would cost more than just paying your taxes anyway.
Owen Phillips
How do you get around paying taxes on every trade due to it being realized gains and thus a taxable event?
Chase Young
Regular kikebase is good for if you’re trying to buy crypto ASAP. You have to wait (((3-5 business days))) if transferring USD to Pro.
John Walker
that issue only matters for the very beginning. Whenever I spend a grand or two on crypto on CBP I do an ACH transfer from my bank to replenish the fiat supply on my account. That way I always have at least a bit extra to play with if I want to buy a quick dip or whatever.
Ethan Edwards
Hypothetically can one start an LLC in another state with no capital gains tax, open a trading account with a normie brokerage house, open a business account with coinbase custody, transfer your tokens to coinbase and then have funds transferred directly into your normie brokerage account where you buy etfs etc.? At that point one could hypothetically pay oneself from the interest and pay taxes on that alone, or am I crazy?
Carter Perry
Structuring crypto funds is extremely easy. Built in plausible deniability. Just say you sold parts off at specific goal prices in small quantities to avoid slippage.
Carter Wilson
Lmao I empty every penny I don't need into CBP every paycheck, then usdc it to metamask, then flavor of the week 10x shitcoin.
Working out surprisingly well so far.
Jaxon Brown
When is it worth it to swing trade? IE paying the capital gains tax versus just holding during the dip
Jeremiah Anderson
>cash out smaller summs >smurfing
Aaron Hughes
>Convert all into BTC >Open up an ApMex, JP Bullion, & SD bullion account >Open a PO Box somewhere >Buy Good/Silver anonymously equally spread out between the 3+ accounts >Have metals shipped to PO BOX >Go to trusted coin store, not a pawn shop where they will rape you price wise with the metals you want to sell >have everything liquidated to cash >IRS never finds out and you have a $$$ in hand now. But you might be experiencing a few% loss in money between conversion to btc to buy metals to selling them again. Expect to take home 90% of your profits. Instead of 80% or even less with taxes and IRS
Adrian Young
Don't talk down on dogecoin. Elon is going to take it to Mars
someone who isnt me just has his poor family members each cash out about 10k. and he lets them keep. those family members make less than 40k a year so IRS dont care.
also that person just trades on binance on an unverified account, so how will IRS know his trades?
William Wright
>cashing out Fuck paper money
Nathan Butler
You missed the final bit >get arrested and jailed for tax evasion
