TenX Card

TenX Card.

How to avoid capital gains tax?
I. Thinking to just buy a TenX card and use that for everything. Thoughts?

>Beta client releases yesterday
>TenX plummets

Why even live, user?

I'm not even holding that token. There is literally no purpose for it. I'm just curious about the platform and visa card they offer.

What VISA? You mean the one they had to remove from the mockup because VISA sic'ed their lawyers on TenX?

Are you talking about Monaco?

Wait, what? I thought that was Monaco... Dude I'm not even trying to shill their shit token. I literally just wanna know as much as I can about the debit card(ordered one yesterday)

>Deciding whether to spend some of my $60k crypto on a Veeky Forums pass

That's Monaco, retard

Tax professional here.

What's your crypto net worth and what do you intend to use the money for? Just buy games on steam or reinvest somewhere else? Also, are you a US Person / subject to FATCA?

I'm in Ireland. I've got 30k+. I'm not paying this shitty government 40% in capital gains.

And desu, I just wanna buy a new car( might get a loan out for that, to keep the government off my back). Then use the TenX card to pay bills and shopping etc for a few years. (Got 2 kids to feed)

OK good.

Just don't realise your gain on your regular bank account. You can set up a foreign account in a tax heaven like cayman islands, HK, etc. It might cost you something like 1k.

Your only concern will be to provide information concerning the origins of the funds for AML/KYC purpose. Make backups of your deposits + trading history.

Then pay your car with a transfer from this foreign account. I should be invisible for your tax authorities. If you get a control, they might be able to see that you registered a new car, but I don't know exactly how it works in Ireland.

I wouldn't recommend using a TenX card to pay your utility bills, but you can pay restaurants / food / entertainment without any trouble.

Fucking moon already I dont care about the card

Autocorrect hates me.

Thanks for the advice man! :)

No problem, hope that helps :)

$2000? Poorfag.

How to do this shit in the US senpai? Suppose I get a large amount of money (>1M) in BTC over the next 2 years. What's the best way to avoid taxes? My main exchange is Gemini and it's linked to my BoA account but obviously transferring 1M in btc into a BoA account will turn some heads lol.

General bitcoin crash makes everything crash.

The volume on it hasnt gone down, its only gone up since the client came out

>have to shill this hard in a bear market

Feels like the market hasn't reacted to Visa threatening Monaco. Ten x recovering nicely today.

Sorry for the late reply.

Unfortunately for you, FATCA makes it extremely difficult for US Persons to avoid taxes.

Only """easy""" possibility I see would be basically the same as for Irish-bro but with a non-cooperating tax heaven (i.e. most countries in central / south America).

Next time you're in holidays in Nicaragua, just open a bank account ;-)

Will i be able to buy stuff online with this card? Like use it for amazon, ebay, hotels, plane tickets etc? Would be awesome

Good idea. That way you will avid capital gains, doing it myself. Also you can move to a country where Bitcoin is not considered a commodity and you don't have to pay capital gains.

There is literally nothing wrong with this.

How the fuck do they expect you to pay capital gains if you use Bitcoin like currency?

What will you do? Go to McDonald's and ask to add capital gains tax to your burger? That is retarded. If you have Bitcoin on card you will always pay VAT tax for any purchase either way.

This is a very good way of circumventing the retarded capital gains tax law and you should definitely use it.

Literally, how physically will they calculate the capital gains? You will have to calculate them for every candy bar you spent, really? That is not how currency works.

>Unfortunately for you, FATCA makes it extremely difficult for US Persons to avoid taxes.

Ok, for US retards here is how you do it.

Register TenX card on Bob Faget, receive it, now you can spend up to 2500$ without providing any docs. Register a new one after 2500$.

Another way - pay a friend in a normal country (like Poland) to receive the card for you. Then he sends it over to you via DHL post. Then it will seem like a Polish tourist is buying up all the Rolexes in NY.

Yes, that is what it is meant for. Same as coinsbank, Bitwala, Wirex and other cards. Only they have higher fees so they suck. Well, coinsbank is ok I guess

These cards area godsend when it comes to selling those stupid bags

I agree with you on the practicality of collecting capital gains on bitcoin purchases, but these are governments. They're fucking vultures, and besides that, something being impractical and retarded has never stopped them before. Do we have any legal assurance than they won't come after us for capital gains on our tendie purchases? From what I've gathered so far, it's a gray area.

Why are you even giving your opinion? You obviously have no idea what you are talking about.

Will this coin get about 90k again? That sell wall is fucking massive holy shit.