What's up with this "you can't cash out"-meme?
Are you guys retarded?
I can cash out very easy.
Pic related is my wallet.
It's based in switzerland (where I'm from) so you can easily turn BTC into swiss francs there.
I turn all my shitcoins into BTC and send it from Binance to my wallet.
Then I turn the BTC into swiss francs and after that I just transfer the swiss francs on my bank account and Voilà.
What are you guys on about?
Is it a burger thing?
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I used this to because I dont want to be KYC by so CIA NASA shit in the states.
This is how I cash in and out. Most posters on this board are too retarded to know what youre refering to though OP.
1. Sell altcoins for bitcoin on exchanges
2. Send Bitcoin to Coinbase
3. Sell for EUR or USD
4. Withdraw FIAT
How hard can it be?
But how do you pay the taxes?
That takes roughly 800 hours via coinbase
You don't. That's the best part.
Nope, around 2 working days.
But they'll report you, the exchanges and banks, will tell the governments tax agency and then you'll pay, or got to jail.
It's not hard to cash out. It's hard to cash out without being taxed. If suddenly get a $10,000 in your bank, they're going to ask questions.
Don't be a cuckold your entire life
*go
>Don't be a cuckold your entire life
But I live in California and don;t want to go to prison. They'll rape me.
Yea, you did fuck up. Exchange to ETH.
Is correct.
I've cashed out twice on coinbase just to test it out, and the money was in my account in 2 days.
It's a meme to try and dissuade the normies getting in on the shekels.
> the exchanges will report me
You don't really know how cryptocurrencies work, do you?
No. Can you explain to me.
Are you retarded? They're obliged by law to report transactions that exceed $20,000a annually. Do you think these exchanges exist in some sort of legal limbo? Most of them operate from the US, all the big three.
Only recently Bitfinex has stopped serving US IP's because of how heavily regulated the crypto market has become. So stop pretending you know what you're talking about you fucking moron.
Cryptocurrency withdrawal cannot be traced ffs.
buddy I hope you know that as soon as you turn it into USD it's taxable...
I understand that, but it's the exchanges and banks that worry me from actually investing in cryptos.
Are you 12? Have you ever owned any crypto in your life? Do you not realize that even if you manage to buy Bitcoin without being traced you still need to get verified to trade on any exchange today? Your identity is tied to you if you use exchanges.
On top of that, you are extremely delusional if you think crypto can't be tied to you. There are already analytical methods that tie people to transactions and withdrawals.
Again, stop talking out of your ass. It really feels like you own no coins and just recently started reading about it. Christ you're an idiot.
Bittrex only knows my email address, nothing more.
WTF are you on about?
If any of you NEETs have done your taxes before, you’d know that you report any other income outside of your regular job when you do your taxes. You can take a chance not reporting it if it’s small but if it’s large amounts and they end up auditing you have fun paying up or getting your shit pushed in.
How did you get the Bitcoin?
Please just stop. Do you know what a capital gain is? Get the fuck off this board and stop trading before you get audited you absolute retard
Bittrex don't do fiat you moron
Take it like a man
I'm a bitch, a scared little bitch...
> Has no idea about localbitcoins
> Tries to act smart
If you think cryptos cannot be cashed out without being taxed, why the fuck are YOU here?
Yeah, you have fun selling to a federal agent. Bloody mouth breather.
Binance has no information that ties me to my account and I can draw 2 BTC/day.
Leave them, they are delusional FUDders.