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Author Topic: Cashing out into traditional banking system  (Read 766 times)
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★ ChipMixer | Bitcoin mixing service ★

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August 01, 2017, 05:37:32 AM

He has several options :

~ Trade directly with people for cash
~ Buy Bitcoin goods & services < Pay VAT >
~ Deposit into regulated exchanges and then convert to fiat < Pay Capital Gain tax on the full amount >
~ Fund a Fiat based company and channel his profits through that company. < Pay VAT >

The safest way to do this will always be to pay your taxes that are due on this money that you earned. No amount of money is worth a stint of jail time for tax avoidance.

This is not good timing to do it now, most exchanges are closed and the fork is causing a lot of uncertainty.

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