what happens if i sell too much btc on ebay/ other sites

[duke_otc]

this person that i sold 100$ btc to this morning came back asking for 900 . great right ? but no usualy any amount over 500 i try to do it off websites because im woried after a certain amount ebay / leboncoin might
report this income to the taxes and make me pay 30% altough i am only making 5% on this deal. how much do you guys think i can sell each year per account without getting reported to the taxes ? or any alternative
with a pay wall so i can accept debit cards ? any help is welcome

[Findingnemo]

You need to mention where you are from.

And you said 30% tax which should be on capital gains so if you are making 5% from a deal then the 30% of the 5% should be paid as tax not from the whole amount and you may need to consult the professional to know the possible ways to avoid the tax and if you just use banking transaction and KYC details then tax agency will know and may add penalty for evading the taxes.

[duke_otc]

Im from france and i think here if you are not a registered company they dont care and flat tax everything at 30% plus they will be really pissed off at me for doing otc because its " helping other peoples avoid taxes"
i know there is a limit if i stay under that on each account they will not bother me but i have to find out how much it is

[duke_otc]

oopsy i did it again with 300euro with the same customer (my greed will consume me i know)  to the website it looks like i have sold him a ps5 but no it was btc 5 allegedly

and now he also wants 500e monero for tommorow or 600euro btc






txid 9bc5a4553f54db832cc61ba08c787dcfa3121ce4d0fefb5305dfc179d66e0458

[duke_otc]

i think i will chill out on leboncoin and only do irl deals there no more online deals because if i get banned i am done its the only site where i have reviews and ratings if i lose it i will have to restart from zero

or atleast i should get payd on another account not my main one

[logfiles]

Any reason why you shouldn't just use p2p exchanges to sell that Bitcoin, like localcoinswap? By using eBay and those other services which are not meant for crypto trading, i believe you could be breaching part of their terms of service and this could lead to some troubles on your account once they discover any suspicious activity. Better safe than sorry.

[Peanutswar]

Wait seems kinda off, there's a transaction of buy and sell of BTC using an ebay, which is out of bound with their services? correct me if im wrong, more likely ive seen right there is more likely an item. Also its way more risker to make a buy and sell right there because there's no assurance if other party are willing to pay, but if you think its safe to do that its all your risk to deal with but for me its ideal use a exchange platform and applied for a p2p basis to avoid risk of scams.

[Kelvinid]

Use P2P, OP, instead. It was safer than the current option, and even after accounting for the tax cost, it was still smaller than the amount you presented. And judging by the convo, the more they ask for another transaction, the more it leads to a possible scam.  It is too risky on your side, OP. I think you need to use an alternative method for buying/selling your Bitcoin.

You will have to be careful in this kind of transaction. You might not experience a scam with this, but never ignore it because scammers will get your trust first before making a scam move.

[duke_otc]

hi thanks for the advice i will keep this on my mind however because i have reviews on leboncoin (the ebay of france) i am able to get the peoples to pay / send first so there is no way i can get scammed there
and even charge backs they cant try it because in the delivery method i use the "f2f option" and the guy has to press " item received" before i will send him the crypto.

there was scam attempts on previous dms but its easy to filter i already have experience from years ago when i used to flip phones and e bikes

[duke_otc]

Any reason why you shouldn't just use p2p exchanges to sell that Bitcoin, like localcoinswap? By using eBay and those other services which are not meant for crypto trading, i believe you could be breaching part of their terms of service and this could lead to some troubles on your account once they discover any suspicious activity. Better safe than sorry.

localcoinswap ? is it possible to pay/get payd with a debit card through a paywall there ? because if the only way is wire transfer i risk getting charge backs there

[duke_otc]

Wait seems kinda off, there's a transaction of buy and sell of BTC using an ebay, which is out of bound with their services? correct me if im wrong, more likely ive seen right there is more likely an item. Also its way more risker to make a buy and sell right there because there's no assurance if other party are willing to pay, but if you think its safe to do that its all your risk to deal with but for me its ideal use a exchange platform and applied for a p2p basis to avoid risk of scams.

correct he first dm me on this advert witch talks about exchanging crypto and when we agree on a price i create a listing for an item and he purchases it with the f2f option then i send the coins to the customer
so far i only did it for smaller amounts and for big amounts we meet in person in a bank or casino

[Webetcoins]

100, 500 or 900 is still a small amount to get highlighted. I think you should be fine until the size is below $10k which might trigger these platforms to ask for additional KYC documents and they can report you to tax authorities if they find any anomalies. I don't think they would just report because you are selling a few hundreds on their platform.

Do not forget that even they will be making profits out of your commission so they would not put you into trouble at least until tax authorities pressurize them to hand out this date. These companies like Leboncoin or eBay will never just go to the tax authorities upfront as even their platforms reputation is on stake here.

[snipie]

100, 500 or 900 is still a small amount to get highlighted. I think you should be fine until the size is below $10k which might trigger these platforms to ask for additional KYC documents and they can report you to tax authorities if they find any anomalies.

I have friends there that told me once that above €3k it can trigger the service alarm to do investigation about the incoming money and obviously tax part too.
They aren't expert, so this is not an answer and dividing the sum in small parts make it safer. Nevertheless, leboncoin and similar services aren't intended for such usage and can be considered as money laundering. Better to use a known and secure platform.

[tbterryboy]

Use P2P, OP, instead. It was safer than the current option, and even after accounting for the tax cost, it was still smaller than the amount you presented. And judging by the convo, the more they ask for another transaction, the more it leads to a possible scam.  It is too risky on your side, OP. I think you need to use an alternative method for buying/selling your Bitcoin.

You will have to be careful in this kind of transaction. You might not experience a scam with this, but never ignore it because scammers will get your trust first before making a scam move.

I agree. OP might be taking a risk dealing on such platforms. We always have trusted P2P platforms where we can make 5% or even more margins in regular buying or selling plus the trades are insured as the exchange always acts as a third part barrier which will minimize the risks of getting scammed. Yes, these P2P platforms do comply strictly with the regulatory bodies but still paying taxes on our gains should not be that hard as it is not going to wipe out pour profits.

OP, please remember, you only have to pay tax on your gains and not on the total amount. Even if you wager $100,000 but just make a profit of $100 than the only tax payable here will be on $100 so you don't have to worry about the total trade size. Even I would recommend you to check our these p2P platforms to find better margins.

[duke_otc]

i agree i should normaly use p2p platforms but sadely i have tryed and either peoples where not buying because i have no reviews and im nobody there OR the only peoples interested seemed to be scammers
so i had to get creative and use leboncoin/ebay so this is what i am going to do now and maybe i should make multiple accounts and not sell on my main one where i have the advert because if i get banned i will
lose all the reviews and be nobody again

[duke_otc]

sold 300 again at 7% or an rtx depending on who you asks 

txid ec79685dcd83d0153b92d98215f0ca7f027974e76346412db13a1dd9c442a0d0

it cant be that easy nothing ever came easy like this in my life so this is the last one after this i will take cautions selling on other accounts and talking crypto with the customer on whatsapp or other so if leboncoin staff
reads my dms they wont know whats happening

[duke_otc]

100, 500 or 900 is still a small amount to get highlighted. I think you should be fine until the size is below $10k which might trigger these platforms to ask for additional KYC documents and they can report you to tax authorities if they find any anomalies. I don't think they would just report because you are selling a few hundreds on their platform.

Do not forget that even they will be making profits out of your commission so they would not put you into trouble at least until tax authorities pressurize them to hand out this date. These companies like Leboncoin or eBay will never just go to the tax authorities upfront as even their platforms reputation is on stake here.

this is the type of advice i was looking for   yes i will stay under 10k transactions in a single month because either way anything above 500 i ask peoples to meet irl and did deals up to 5k at once like this
also sometimes there is legit peoples asking for 30/50k witch i cant even source because i dont have enough capital currently i can do up to 18k by taking interest free loans from my friend with my stock portfolio as
collateral   

[Alphakilo]

I don't think you stand to get a good result with selling too much Bitcoin on a platform like eBay or on other consumer focused sites with P2P payment system in place.
It always ends up badly and that is what you are going through now.

Although I may not have a solution to your problem even though I intend to help, but I can offer some alternatives in case of future trading for you and others out here as well.

1. It is always best use an exchange that has built reputation over the years like coin base, kraken, Binance, because they comply directly with all KYC and AML laws.
 
2. While I don't know so much about eBay payment system except how to pay for an order, it helps to know that it is wiser and safer to use platforms that integrate escrow services that are designed specifically for cryptocurrency payments, because they ensure the payment is verified and released as it should without any hitches arising from both parties.

3. Lastly, it would be best to use a platform that offers personalized services, better liquidity and legal contracts, this is so as to ensure that one has a safe and compliant transfer of funds across any platform of choice. Also, for very large sales in this regard, an institutional OTC desk would come through.

It helps to do a personal research so as not to get into such situations and to be able to get yourself out of it, like the experience OP is currently going through.