Hello, i am looking to purchase bitcoins. I Just don't know much about bitcoins. I have made wallet(coinbase.com) i got my bank account linked and i purchased 100USD worth of coins and everything is good. If i were to buy $500 worth of bitcoin and then pay for something with them. Will they get curios about what i am buying? Do they report to the IRS my activities? I am new to this all Bitcoins thing so if anyone has any time to please elaborate on it i would really appreciate it.
No, if you're account is verified on Coinbase and you buy only 500 USD, they won't report anything.The amount is a way too low for them to think you're already laundering money or so.
Anyway I would recommend you to mix your BTC once you've got them, so that Coinbase
will not be able to trace where they are being sent to.
Feel free to PM me if you've got further questions.
Greetings,
TOXCOIN Support