To anybody that has cashed out a large amount in the US, how did you do this...

To anybody that has cashed out a large amount in the US, how did you do this? I'm thinking to use Gemini and do a wire transfer. Is Coinbase any better? Will I get fucked out of my precious digital tulips?

Ps no "cant cash out" memes

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bitflyer.com/en-us/
support.gdax.com/customer/en/portal/topics/939402-depositing-and-withdrawing-funds/articles
twitter.com/AnonBabble

Gemini has no limit on wire transfer amount after verification but there are posts on Reddit that withdraws are currently delayed. If Gemini won't work bitflyer is open now in USA. They verified me in one day and have a $50k a day wire transfer limit.
bitflyer.com/en-us/

Not OP but what were the tax implications? It looks like coinbase rats you out to the IRS.

All but the smallest / shadiest exchanges are going to keep records / rat you out to avoid getting raped themselves.

imagine what's "cashing out"
on a crisis day is going to be like
i hope you all have the
local suicide hotline on
speed dial

>i hope you all have the
thats why i dont invest more than $2k in cryptos

shits just not that liquid

It's going to be an absolute massacre, and it really wouldn't take much to rock the boat

Still going to keep going because I'm a greedy faggot

Thank you for the info

If you didn't get verified by Gemini at least three weeks ago good luck waiting for a few weeks now.

This is why I am trying to cash out in the near future!

Bummer, was hoping there was a way to avoid it since I don't have too many records of my earliest transactions.

Sorry mate, couldnt help myself.

Anyone got more info on how buying gold works with getting around taxes/helping liquidation? I always see people mention it but don't know how it exactly works.

You go to rrbi.co and buy. But what will you do with the gold? Unless you just want spending money you will need a paper trail. I dont think you can just show up with wads of cash and get a house.

Why not just use GDAX, sell to your USD wallet and then withdraw 10k a day?

Transferring funds between GDAX and Coinbase. Transfers between your Coinbase wallets and GDAX account are instant and free. Deposits to GDAX are unlimited, however withdrawals from GDAX are limited by your exchange withdrawal limit, which starts at $10,000/day.

support.gdax.com/customer/en/portal/topics/939402-depositing-and-withdrawing-funds/articles

This really isn't hard.

dude, haven't you heard? you literally can't cash out. it's not a meme bro. leave Brittany alone

kek

Is there any way to raise your withdrawal limit, like tier-verifcation BS or whatever?

I've been using coinbase for a while so my withdrawal limit is $100k. Today I sold 1.6 BTC and cashed out $24k to my bank account that is linked. Pretty simple and straightforward

Less then 1% of the entire population is into crypto atm. Just imagine this shit with 10% investing... there is still a long way to go before this bubble bursts. I'm even starting to think it never will, because traditional fundamentals might not even be applicable to this new tech.

Who knows... time will tell.

I had the same thought. I only invested $1k and now I’m at $30k. It’s like these fuckers are trying to stress me out I swear.

Buying goods with crypto is the same as cashing out. If you don’t pay taxes on it, it’s called tax evasion. Please don’t get caught, my bizbros won’t make it in prison.

I'm not interested in tax evasion, it's just an interesting approach that I'd like to know more about for my own curiosity.

I can't say I like prison food, or penis.

Good man. Well I’ve seen people post a few online sites, I know jmbullion sells gold and silver, they accept btc for payment. Once you get the gold then do what you want, either hold it or sell it, at probably a 10% loss over spot. But like I said, you still need to report that to the taxman if you want to stay compliant. As far as I can tell they don’t report your sales to govt.

Okay please spoon feed me Veeky Forums, I live in Japan, but came back to the UK to visit family, dug out the old computer and found I have some bitcoin/vertcoin from years ago. No huge numbers, worth about £600 in total.

Can I just copy and paste these wallets onto a USB, put them onto my laptop when I get back to Japan and then update?

Also, how the fuck do I cash out? I’m with no exchanges, only here in the Uk for another 10 days or so, and these wallets haven’t been used in like years so probably need to go online or update or some shit.