Hiding Crypto from the taxman

Is it realistically possible to hide your money (Crypto) from governments? How easy is it to create offshore accounts totally hidden from HMRC (UK) or IRS (US)? How do you cash out without them knowing?

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Just move to a less shitty country or move to puerto rico

PAY YOUR TAXES

Cryptocurrency is decentralised, anonymous. Iv had cryptocurrency for years. Its in cold storage. How they going to tax me when it's impossible to know who has it and who doesn't.

You have to eventually cash out one day - that will be via a state bank and they will flag it up (large quantities anyway)

Unless you plan on keeping crypto all you life and not enjoy it.

I do, but paying >20% of my hard earned profits from crypto is robbery.

Tax is theft.

Nothing stopping me selling coin for cash face to face.

Depending of the country you will lose more money trying to launder this "face to face" money than if you were paying your capital gain taxes.

yes
taxation is theft, defend yourself
stick around you will learn the ropes

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Selling coins for cash face-face sounds ridiculous.

Let me introduce you to LOKI.

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no it is not
you need to lurk

How do you set up an offshore shell account?
pls help

>Selling coins for cash face-face sounds ridiculous.
It also is, if you are trying to get rid of a 7 figure sum. And then good luck buying a house suddenly with half a million cash out of nowhere.
That's the real problem here

localbitcoin

don't ever input your social security number online. that's all you have to do.

Yes it's possible and easy if you are not on some most wanted list. Just simply do what all really rich people do, find expensive but reliable advisors in the real world.

Indeed, the only way to liquidate large quantities to use in the real world is via the bank, not some face-face deal akin to a back street drug deal.

Once the dollar crashes crypto will become the de facto money for commerce

setup a kebab shop
this shit is easy

But your bank accounts are online with the exchanges where you initially deposited into (ie. Coinbase, Kraken). They (banks) have all your details. Nothing is anonymous.

well, you can do that if you really hate the government
Otherwise you should ask yourself if you don't value your time at all
Also a Kebab store costs you money as well

OP just go to Portugal or so, or set up a shell company, just like my friend did. No idea how he did it though, I just know he has.

Everyone is clearly missing the point in what cryptocurrency is..... I cashed out 100 btc in 2017. Still have reserves offline. Once fiat currency dies,ever me in 50 time will be comfy, or my children will.. All for less the. £1000..

Unironically wait to offload the bulk of your bags until after Trump dismantles the IRS in the next couple of years. By then also you will have more privacy options. Also don’t forget to lock-in some gains with pm’s in the meantime. oldfags knew this.

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capital gains is only 20% in UK. seems reasonable desu.
or you can set up a company. you can then open a bank account in the name of the company and withdraw the cash to that business bank account and pay corporation tax if that's any less than capital gains?

the government robs you at gunpoint every day
and you love it ?

I don't have to pay taxes where I live if I hold >1 year, so I am good

Where do you live?

Don't waste your time trying to argue with people. Either 19 year olds or failed 30 year olds. Either way, it's people who have never manged more than five figures.

Realistically you can't avoid paying taxes without going full on tax evasion. Tax avoidance can probably reduce your shit down to 20% or some shit. Tax evasion is a risk that you don't want to take. Cashing out 7-8 digits means you are set for life. Set for life implies being "chill" and not fearing every email notification or phone call.

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Where’s that?

Thank you.
Theres no crypto tax in Portugal (or Malta), so I just need to move there (and find Portuguese girlfriend, learn the language etc).

I have no idea how to set up a shell company, but surely it can't be that easy?

germany

Good points. But just hate the idea of paying tax from my smart decisions and hard work in crypto to the government who will just throw it down the toilet. Robbing bastards.