Bitcoin Forum

hi ineeded help trying to find a good, and consistant way to get bitcoins
without getting screwed by taxes. ive been using bitcoin brokers but
the tax is crazy the more you get. any help

Where are you based?

Texas

Taxes?  Is bitcoin brokers charging a sales tax?  Or are you complaining that they are reporting your transactions to the IRS so you can't avoid the taxes when you file at the end of the year?

localbitcoins.com

trade free :D

im saying , they have high taxes, i tried to
get coins last week paid $678.34 and only had 600 come
through after the transaction. i was prepared for a 40 dollar loss
but i just feel like 70 is too much.

& localbitcoins had a bad rate compared to other sites.

try using bitstamp, it's the biggest trader online I think ;)

check cryptsy and bitkonan too ;)

Those aren't taxes.  Taxes are money that goes to the government.

Those are profits.  So you are complaining that bitcoin brokers has a bad exchange rate compared to other sites. You don't like how much profit they are taking. So, use one of those other sites that you think have a better rate.


If you know of sites that have a better rate than bitcoin brokers and localbitcoins, then why aren't you using those other sites?

Options that provide you with better anonymity, or increased convenience will cost more.  You have to pay for such services.

ok what about cryptsy & bitkonan what kind

of information do they require

yea, exactly that is what i was trying to say
and i am looking for other service that provide that
do you have any other options?

Coinbase, localbitcoins, and maybe bitstamp are probably your best choices. There are probably others that I am not aware of. Those are the most well-known.

+1 Best options - Nice work J Bo!

So only option is coinbase and localbitcoins?

so does anyone know of another service that offers
what bitcoin brokers does without the commission they
make

I have used Conbase and localbitcoins before, and my trades went perfectly. :)

Checked many of them and signed up for many of them, they all will charge deposit fee, minimum deposit fee is 1% for bank transfer at some sites. Everything else is higher!
Verifications is getting worse, you have to share so much of info which normally it is alright if you trust the site, however no exchange site that is popular right now is trust worthy since really there aren't any reliable and real info about them other than site email.

So much for a currency that is supposed to be used for buy and sell. That's the problem with BitCoin right now, you have to pay too much for USD deposit in order to buy them which really doesn't make sense to use BitCoin to buy things, would be much better to buy things with USD right now.

As far as using BitCoin as stocks, then you need to find the exchange website that charges the minimum deposit fee, and again the lowest one is bank transfer. Everything else then you are looking at 3.5% and higher.

Until you get paid by BitCoin, right now there isn't much things to benefit from BitCoin other than using them as stocks. Pretty sure they will figure out something in the future.

As for avoiding taxes, BitCoin is taxed as a property, if you buy and sell BitCoin you will only pay tax if you make profit and I don't see what's the problem of paying taxes from profit you will make off of someone else who lost money from buying or selling BitCoin!

Bitcoin has shown to be a good storage of value, despite its volatility. Also, they will have an incentive to convince their suppliers to accept Bitcoin as well.

localbitcoins and bitstamp the best options

+1 for localbitcoins.
It is good to have p2p trades, and you just need to find a trader near you with good trade history.