Best was to cash out

[TUMAS]

Hey all,

Whats the best was to cash out your coins? Send direct to the Bank? Do you have to pay tax on your earnings?  What do you guys do?

Thanks

[1714795424]

1714795424

[1714795424]

1714795424

[1714795424]

1714795424

[Ciucas]

Hey all,

Whats the best was to cash out your coins? Send direct to the Bank? Do you have to pay tax on your earnings?  What do you guys do?

Thanks

You can create an account on localbitcoins.com , and just trade your bitcoins for cash.
It's pretty easy and fast, and you don't have to pay any taxes ( unless the legislation from your country you live in says so)

[deathwish]

Hey all,

Whats the best was to cash out your coins? Send direct to the Bank? Do you have to pay tax on your earnings?  What do you guys do?

Thanks

You can create an account on localbitcoins.com , and just trade your bitcoins for cash.
It's pretty easy and fast, and you don't have to pay any taxes ( unless the legislation from your country you live in says so)

Really dangerous advice but definitely an option. high risk high gain. in the US, you will have to pay the taxes. All crypto can be traced if they have to be .

[jakelyson]

You have to pay taxes as capital gains, it is your obligation and to avoid future complications.

I my country, we have a service that allows bitcoin to be converted to fiat and withdrawn via cardless atm. That is very convenient. But if it is in large amount, I withdraw it directly to my bank account.

[Mihaylovic]

There is no any regulations or rules regarding cryptocurrencies in my country. there are several local exchange platforms. It is easy to cash out using them. There is no tax nothing. Just cash out and spend that is it.

[u9y42]

Hey all,

Whats the best was to cash out your coins? Send direct to the Bank? Do you have to pay tax on your earnings?  What do you guys do?

Thanks

No cashing out for me - just hodling until Bitcoin replaces fiat (or fails completely).

As for taxes, and whether or not you will have to pay anything on your gains, that will of course depend on your country. In Portugal, for example, there is currently no tax burden (unless your gains are part of your professional activity).