Hey guys,
As we all know it's been quite hectic a period with the influx of new blood in the crypto scene, me included, so I'd like to know a few things.
Let's say you apply and get verified on an exchange such as bittrex after a few weeks. They have your id on file.
Then you deposit some btc or an alt there from your wallet, you do your day trades for a few months, you maybe triple your initial investment in their wallets, and then you want to withdraw them to a personal wallet.
As a EU citizen, do they report to the authorities to tax you? Or how does it work? Do you have to report it yourself? What would be the withdraw limit for that not to happen.
Is it a bad thing to get verified?
It is not a bad thing to get verified it allow you bigger limits, you can read their terms in their site or you could ask them directly, that will be better than to try to ask for information in the forum, but the most likely thing is that you are the one that needs to inform to your tax authorities about your earnings and pay your due taxes if applicable.
