What to do with our new found wealth???

[Shamie1002]

Let say you are one of the lucky early investors in cryptos and maybe you have millions by now. The question is how could you actually convert it to fiat without being robbed by the government itself? Actually this is a hard question to answer until today. It will be up to you if you have your strategies regarding cashing out your bitcoins to fiat. Since we do not have really a choice but to convert it to fiat and enjoy your profits, you must know all the possible ways to sell your coins.
Time will come that bitcoins and other crypto-related will be regulated, I think by that time we have nothing else to do but to pay fees and taxes. For now, I suggest go peer-to-peer with your rich colleagues. That would be the safest way without any fees.
Or lowest fees by remittances. Take time cashing out your money, like for example, a maximum of average amount every month. To avoid too much attention from the government. It is just like you are having monthly income.

[Klestar]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

in my opinion , best thing to do is to invest and invest , then the time will come the return of your investment gets higher specially you know that bitcoin is really real and returning the investements double just be wise in exchanging it.

[Kemon]

If I to invest and the rest for saving

[Arlibtchunt2018]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

In my opinion the best thing to do is to divide your money into two. Half for crypto then another half for FIAT. Then after that separate your asset with your trusted friends and relatives.

[Kambal2000]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

In my opinion the best thing to do is to divide your money into two. Half for crypto then another half for FIAT. Then after that separate your asset with your trusted friends and relatives.

Great idea, most of the people really doing that personally I, saving fiat for our daily expenses and for emergency purposes and saving some for the the future of my family since this is a great opportunity that should not take for granted no matter what.

[yanlap]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

in my opinion , best thing to do is to invest and invest , then the time will come the return of your investment gets higher specially you know that bitcoin is really real and returning the investements double just be wise in exchanging it.

There are always some rules related to the wealth, because it can be of different types. If this is an asset, then just keep the asset as it will be going to give you the profit in the end, if it is saving then just save it so that you can have it at the time you need it and if this is just extra money you have in hand, then invest it in the crypto currency so that you can have good return in some months from now.

[Bitbratt]

My friend doesnt encash it at once. He distributes it in different wallets and sends it to the exchanges for fiat and then send to his different bank accounts. He also encashes it using money centers and hold the cash at home, he is not putting all in the banks for it is taxable. He bought vault and place his money there 

[Dragon5]

Actually, it is a poor reflection of on the development and progress of our society when the primary aim of many people is simply to get rich. And many of them believe to achieve it not through determination and perseverance, but through some speculation.

[ChConcept]

Well, what I can think of is split the earnings between trusted people (immediate family is a must here) or probably have at least 3 bank accounts to transfer it to. I haven't done that yet, though. Come to think of it, I might try and find someone who has then get some ideas from that person. Gotta admit, there are a lot of good ideas in this thread alone.

[Ramtapsbtc]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

If you have that much money do not withdraw one time for security reason. Only the primary member in the family should know that you have the amount. But assets like house and lots or start a small business. Provide trust fund for your children. As a community service help the poor do feeding and give scholarship.

[nur rochid]

Actually, it is a poor reflection of on the development and progress of our society when the primary aim of many people is simply to get rich. And many of them believe to achieve it not through determination and perseverance, but through some speculation.

business people need speculation to succeed, besides being disciplined and diligent in reading situations, as long as there is a chance i think it is a good time to start, sometimes they think about risk behind

[goaldigger]

There is no way you can withdraw, if thats what you say, bitcoins or convert it into fiat without being known by the government because even your wallet restores data and history for your transactions. Remember the japanese guy who withdraw millions from bitcoin ? Huge amount of money will now involves bank and banks probably are connected to the government.

[merchantmafnchester778f]

Sneaking a great amount of btcs without govt notice can be proved harmful. Better you should pay what the neccessary tax is

[clickerz]

I just hold and sell only when needed. Thi is a bad idea since when bitcoin reach almost 20,000 dollar last december I did not sell. Now bitcoin is at 6,000 dollar plus. Though I did not regret but its not a good strategy.

[AbyssLagiaz]

Getting underground to avoid detection and danger from government? You're like a person running away to something that will chase you for lifetime but not really that serious. KYC was made because of these and government really needs to know the person cashing out their cryptos into fiat to know the person behind all the cash transfers around the economy in case a disaster happens and they can trace it in from the documents provided by the suspected person doing the offense.

[Quraline]

Once you earn millions, you won't have any problems, including with the government.

[anjelaro]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

One of the ways to do this is to transfer to wallets of relatives and take sash from them. But there is still some risk of getting caught as someone may report you.

[qwertyup23]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

This is really hard to escape the rules of government but yeah if you know trusted people that you can send your btc little by little and convert it into fiat then you can really easily do that. But of course you still have to be careful because government will surely make their ways just to know when your wealth came from.

Is it really that difficult considering the anonymity factor provided by bitcoin when transacting due to its decentralized nature? Well if you really want to be safe, I prefer conspiring with someone who has also the same problem as yours and talk your way through it. You may also ask people around the forum regarding trading bitcoin via paypal in order to at least mitigate the risk of the government finding it out. Like you mentioned, you may also transact or convert your bitcoins slowly, but this may also leave a negative implication when the government investigates the transaction.

Sneaking a great amount of btcs without govt notice can be proved harmful. Better you should pay what the neccessary tax is

The truth will set you free! Like what you mentioned, just pay the necessary tax related to cryptocurrencies to avoid any future conflicts with the law or the government since once they investigate and find that you have been illegally transacting without paying the legal fees, you may be reprimanded for it.

[impatientyoutubeJ]

What you are doing is simply a crime. If you use btcs be proud, youre not a criminal just cheer

[wxxyrqa]

Getting underground to avoid detection and danger from government? You're like a person running away to something that will chase you for lifetime but not really that serious. KYC was made because of these and government really needs to know the person cashing out their cryptos into fiat to know the person behind all the cash transfers around the economy in case a disaster happens and they can trace it in from the documents provided by the suspected person doing the offense.

probably this negative phenomenon in the field of crypto currency is already known everywhere, But no one has yet figured out how to control the crypto currency, in order to avoid being used for criminal purposes. Money laundering by criminals, as well as in the financing of criminal organizations, can all be done with the help of crypto currency, without being detected.