Hide my money from my country

[bolepo]

Hey, I sell some stuff online and I am looking for a way to keep my money for about 2-3 years. In my country we have to pay 19% from any income to taxes, so I was thinking fuck them. First I thought about PayPal, but I'm afraid they will freeze my account like they used to do randomly. then I thought about Bitcoin, but it's very unstable and I don't want to gamble on the money.

So I have read and found out about the stable coins, Im newbie but its looks like they might be the solution for me.
1. Tether is the most famous but doesn't have the proof of funds, so one day it can be a problem.
2. USDC coinbase is asking to validate the identity in order to use it, so I afraid my country will find out about that.
3. Paxos is also asking for a documents ID.

I am not sure that I understood everything correctly, so I will be thankful if you could help me to find the best option for me.
Thanks in advance.

edit:
https://bitcointalk.org/index.php?topic=5207987.msg53294999#msg53294999

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[Nalbo]

DAI is a USD stable coin that won't ask you for documentation.
It's a decentralized stable coin and can be store in a safe private wallet and access it only when you are in a favourable place.

[Rodeo02]

Why not use bitcoin and create your own wallet ?  The only problem is the price volatility of bitcoin ans if the price will drop but if the price will increase its a win situation to you.
Also i want to know if you are only looking for stable coin?

[Balladtony77]

Forgive me if i am wrong, sounds like you are trying to embezzle some huge money? if yes you have to go through KYC, i haven't heard about using Fiat to buy crypto without the involvement of any third party, you will have to send out fiat from your account, that is a trace you can't escape

[CryptoVzla]

you can try stable coin named SAI / DAI , its fully decentralized stable coin!
ive use it for a year and nothing problem, no one can track you .. but the problem is when you gonna withdrawls the money to bank
i think they still can track your money

[#Darren]

Stable coins are the best choice, you are not taking part in any run, but your money is safe and decentralised. Put your fingers away from such garbage as Tether and use only decentralised stable coins like DAI.

[aomakun]

Stable coins are the best choice, you are not taking part in any run, but your money is safe and decentralised. Put your fingers away from such garbage as Tether and use only decentralised stable coins like DAI.

it's good to use Stablecoin to save funds, if the goal is only to save then Stablecoin can be used as a reference. but if the goal is to invest maybe you need to see altcoin or bitcoin as an investment. and make sure you are absolutely sure to save your funds in crypto

[kro55]

Why not use bitcoin and create your own wallet ?  The only problem is the price volatility of bitcoin ans if the price will drop but if the price will increase its a win situation to you.

That's the key point OP is missing. Bitcoin is known for its wild swings in both directions. Who knows the speculated price of Bitcoin 50k or 100k may be achieved in the next 2 to 3 years. But for that one has to take risk.
Other risk-free investments in the crypto market are stable coins only as far as I know

[posi]

Hey, I sell some stuff online and I am looking for a way to keep my money for about 2-3 years. In my country we have to pay 19% from any income to taxes, so I was thinking fuck them. First I thought about PayPal, but I'm afraid they will freeze my account like they used to do randomly. then I thought about Bitcoin, but it's very unstable and I don't want to gamble on the money.

So I have read and found out about the stable coins, Im newbie but its looks like they might be the solution for me.
1. Tether is the most famous but doesn't have the proof of funds, so one day it can be a problem.
2. USDC coinbase is asking to validate the identity in order to use it, so I afraid my country will find out about that.
3. Paxos is also asking for a documents ID.

I am not sure that I understood everything correctly, so I will be thankful if you could help me to find the best option for me.
Thanks in advance.

Avoiding tax is not a good habit cause it can get you into huge trouble but the stablecoins you mentioned are still not a good option for you to keep your fund intact because they are all backed with fiat currency which can loose value due to inflation but there's a stablecoin which is backed with gold, here is there ANN thread and you dont need any sort of document or KYC to get one. However, i  believe your money will be safe using such stable coin.

[K4C]

You could always purchase from other services like local bitcoin but if I were to suggest, I would say you should buy any Cryptocurrency you can get your hands on and then convert them to anyone of your choice in an exchange... For example if you could purchase Bitcoin without identity verification, you could transfer it to Binance exchange or any other reputable exchanges and easily convert it to USDC even without identity verification, the beauty of Cryptocurrencies is that you can exchange almost every major one with another one in almost all exchanges.

[diazepam666]

Better for your safety you can keep all the currencies in Bitcoin alone whenever you need you can exchange of Bitcoin with very little amount on localbitcoins.
If you do it very less you will not get any trouble from the government.
Please check the rules for cryptocurrencies and caching to fiat in your country before you plan for it.

[bitbollo]

Hey, I sell some stuff online and I am looking for a way to keep my money for about 2-3 years. In my country we have to pay 19% from any income to taxes, so I was thinking fuck them. First I thought about PayPal, but I'm afraid they will freeze my account like they used to do randomly. then I thought about Bitcoin, but it's very unstable and I don't want to gamble on the money.

So I have read and found out about the stable coins, Im newbie but its looks like they might be the solution for me.
1. Tether is the most famous but doesn't have the proof of funds, so one day it can be a problem.
2. USDC coinbase is asking to validate the identity in order to use it, so I afraid my country will find out about that.
3. Paxos is also asking for a documents ID.

I am not sure that I understood everything correctly, so I will be thankful if you could help me to find the best option for me.
Thanks in advance.

Any "stablecoin" or coins linked to a "fiat" currency is able to freeze your found... and other things that are not the best for you. I don't know which is your country, but most of times it could be better follow these regulations, due other fine to pay, in some country they have also jail for that crimes.

Note: Btc value is stable! 1 btc will have the same value, 1 btc FOR EVER!

[nekonyun]

I think tether is the safest for now because it is a stable coin and also a cryptocurrency, and for guaranteed security because it uses a blockchain system

[Ucy]

Not sharing this to encourage you to avoid paying taxes. It's just so you know that there are safer alternatives to one of the stablecoin you listed, and that is DAI. It's a decentralized stablecoin. It's basically a stable version of decentralized cryptocurrencies. You can store your coins in stablecoin as long as possible until you need to convert to fiat and pay the taxes if necessary.

[pixie85]

Hiding your held bitcoin is pretty easy but you won't be able to hide them when you sell. What does it matter if you pay 19% after a year or 19% after 3 years when you finally sell? It will be all the same. Most countries know that it's very hard to prove somebody bought bitcoins so they don't bother to look. They just wait until you sell and tax your profits then.

If you want to buy anonymously do it on one of the exchanges that don't require KYC for smaller purchases and buy there or use a DEX.

[enhu]

BTC should be your first option since after all you will be keeping yours for 2-3 years. Holding stablecoin would just make it sleep so make it at least more valuable that by the time passby your money will be worth more than its value the last time.

Not sharing this to encourage you to avoid paying taxes. It's just so you know that there are safer alternatives to one of the stablecoin you listed, and that is DAI. It's a decentralized stablecoin. It's basically a stable version of decentralized cryptocurrencies. You can store your coins in stablecoin as long as possible until you need to convert to fiat and pay the taxes if necessary.

As much as we don't wanna teach him, he already learned it with stablecoin. I'm just not sure where he is from but BTC can be taxed.

[StephenJH]

For avoiding tax, go to a foreign country and open a bank account. No one is going to trace your foreign bank accounts unless there is a specific agreement between the governments. On the other hand, using stable coins will give you a headache which can cost you more in case they found your tricks. Instead of using stable coins, you can buy LTC and hold it for the right time. In any case, just pass the KYC on big exchanges.

[Blue_oxen]

Hey, I sell some stuff online and I am looking for a way to keep my money for about 2-3 years. In my country we have to pay 19% from any income to taxes, so I was thinking fuck them. First I thought about PayPal, but I'm afraid they will freeze my account like they used to do randomly. then I thought about Bitcoin, but it's very unstable and I don't want to gamble on the money.

So I have read and found out about the stable coins, Im newbie but its looks like they might be the solution for me.
1. Tether is the most famous but doesn't have the proof of funds, so one day it can be a problem.
2. USDC coinbase is asking to validate the identity in order to use it, so I afraid my country will find out about that.
3. Paxos is also asking for a documents ID.

I am not sure that I understood everything correctly, so I will be thankful if you could help me to find the best option for me.
Thanks in advance.

So why not try trading with people who want to buy or sell coins? It is called OTC but you are not going through exchange intermediaries. You can hire a reputable intermediary and conduct transactions between the two sides, at that time, the coins are transferred from one wallet to another and there is no trace. Besides, the government cannot know where your income comes from, just a friend who transfers money to your account. everything is going smoothly and nothing happens, I have tried this method and it is quite effective.

[jets567]

Well if you're afraid in Bitcoin price fluctuation and doesn't want to take high risk then converting fiat currency to stablecoin is a good option to minimize the risk but since you want to hold it for 2-3 years then having some Bitcoin is great as well because it offers a great rewards in the future and you might miss the chance of doubling or even triple your money once the bull run happen.

[bolepo]

Rodeo02
why not save it all on bitcoin. As I said, I can win a lot and loose a lot.
I prefer to just keep what I earn and not hope my money will be worth something in the future.

Balladtony77
 Its not huge money, its about 2-4k each month. I thought that I don't have to use my own bank to buy crypro.
I planned to buy crypto with the money I got from my buyers. Thus these money will never step on my personal bank.


CryptoVzla
Thats is as important question actually, what will happen when I will want to withdraw my money.

aomakun
I don't want to invest the money as I said. Only to save it on a anonymous "wallet".

posi
I don't think there is an inflation coming in the next two or three years. But stablecoins which backed with gold can be also a good solution. what do others think about that?

K4C
Thanks thats very smart and safe plan.

diazepam666
Please read I don't want to invest the money. Just to keep it as is safe.

bitbollo
Thanks I will take that in my mind, after knowing the potential risk.

Ucy
Yes most of the replies suggest this DAI stablecoin, and of course I can pay the taxes once I want to withdraw.

pixie85

You are right, if I will withdraw the money to my bank in few years I still will pay the taxes but there is always an option I will withdraw
small amounts for cash and never put it in my bank. Thats the basic of what I planned to do.

Any as someone suggested here, my country is not relevant right now but if I will keep the money on other bank account in different country.
Do you think it wil be a better idea? or there is high possibility the different countries can share bank information and find out.