If I want to sign up for an enhanced account I have to give them my SSN to "verify my identity"...

If I want to sign up for an enhanced account I have to give them my SSN to "verify my identity". Will then use my SSN to send my gains to the IRS for taxes? It is a good idea to give them my SSN? I really want an enhanced account.

now you are on a watchlist. good work user

answer the god damn question faggot

usually you dont have to pay taxes unless you cash out in fiat money which isnt available on poloniex

so i wouldnt worry about that

Poloniex is not a good place to put the amount of money that would require an enhanced account to start with. It's been quiet because so many people moved to Bittrex or Binance, but Poloniex is notorious for taking months to answer support requests.

i strongly have to disagree here

i am on poloniex since 2014 i believe and i have not had a single problem with them so far

i really dont get the negativity people have towards it since the only thing that happened was lag due to overload (which happens across all exchanges from time to time)

>but Poloniex is notorious for taking months to answer support requests
sadly your tickets are not safed once solved because otherwise i could show you that all of my < 10 tickets got answered within 24hours max

This is wrong. As long as any trade you do has a demonstrable USD value, you will get taxed.

You don't want to make a couple hundred bucks and then go to jail for tax evasion.

im not from the us but this sounds pretty weird

at least where i live you only have to pay taxes for gains you cashed out within one year meaning that you bought and sold the asset within one year and made profit off of it.
you there also can subtract losses from other trades you made within the year so you have to only pay taxes on your absolute profits withing one year

on the other hand if you hold your risky asset for longer than a year (sell more than a year later than you bought) and then cash out as a private person the gains are tax free

>inb4 why do people want to live in the us
>weird taxes
>no health care
>no free education
>fatties everywhere
>idiots allowed to own guns

I signed up and sent kyc documents in August. Still not approved and have not heard anything from polo team.

polo is pretty weird with approvals. i'm european and managed to get fully verified within 15 minutes while a friend from the same country as i am struggeles with it for months. polo support just tells him everytime to do it again.

then write a ticket. not so hard lol

>he thinks he only needs to pay taxes when he cashes out
you're going to need this friend

>think
i know that i only have to pay taxes when i cash out

im not from shit murica

you also have to pay transaction fees idiot

ok so from what im gathering the answer is yes, poloniex will use my SSN for taxes.. fucking damn it

why not just write a ticket and ask them?

maybe its even in the FAQ

Youre not gonna get thrown in jail for not paying for fucks sakes. There are anons here who bragged about avoiding the IRS for months, and only getting an angry email or phone call. All the people here saying you can get taxed without cashing out are full of shit. None of them are accountants. The tax code is a very complicated system, and the fact that bitcoin still isnt considered a currency makes it even more complicated.

And, we already have bitcoin billionaires in the world. Can you find any news articles about them being locked up?

fag

also, heres some peace of mind

thank you very much, this helps out a bunch!

>implying I haven't written several tickets