Erm, if you're signed up to the big exchanges then your details will be there for the tax man to tap in future if they decide to look a little closer. You may get away with it. You may not. Either way you've already marked yourself and it's not as if they're going to get more relaxed as the years go on.
Pay the tax and save yourself ball ache and risk.
If you're determined then the only real way is a cash in hand trade in person. I can't see many posting cash in the mail.
Topic: How can I extract cash from exchanges without going through a bank? - page 2. (Read 662 times)
May 21, 2019, 11:13:12 AM
May 21, 2019, 10:04:06 AM
I bought crypto coins during the winter of 2018-2019 when prices were bottomed out. So when the next big price surge tops out, I'll have some nice PROFITS. I've got accounts on several exchanges, like Coinbase, Gemini, and others. All seem to be reputable with the FDIC banks, and I'm confident I can withdraw my cash from exchanges to banks and then get cash from the banks.
BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
What you need to is to buy it in any department store that accept online currency. Then, sell it on your community. By that, you did not withdraw it in a bank but you just pass it through a business. However, you cannot withdraw your cryptocurrency without any access of the bank. We are all centralized and banks have their important role in regulating currency. BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
May 21, 2019, 08:59:31 AM
I know what you mean, the simple answer to that: you can't run away from the government. But if you talk about insignificant amount of money then it does not matter much.
Of course he can, he will perform his transaction in a clan way without the government tracing it to cryptocurrency, but hard cash will surely be involved, it is now left to him to explain to the bank when depositing how he got the cash if the amount is very significant for them to query. All he needs to do is just involve a local exchanger, they will do all the dirty work for him, and then get him his cash once they get their own BTC. After all, government cannot even trace anything that is being done through the blockchain transaction, and since he will be depositing cash by hand, no one will be able to trace it too with that.
But lot of loopholes and underworld market available where we can pay extra and can get everything done in the way want.
I don't know about him, but sometimes in some countries the governments have not yet decided what kind of approach to take about cryptocurrencies and some people prefer to keep their privacy in case their government suddenly decided to take an aggressive approach in which case those with a lot of cryptocurrency related transactions can face a hard time and a lot of legal fees to solve something that could have been avoided.
May 21, 2019, 08:43:07 AM
I don't know why people want to hide themselves from the eye of governments,if they are everything legally and obtained the money in right way then no need to worry about and also you have to pay the right taxes from the earnings or it also will be a punishble offence.
But lot of loopholes and underworld market available where we can pay extra and can get everything done in the way want.
It's not about paying the taxes all the time. You can't believe how a govt can interfere in all of your funds, it depends on the country where you live though.But lot of loopholes and underworld market available where we can pay extra and can get everything done in the way want.
May 21, 2019, 08:31:39 AM
I don't know why people want to hide themselves from the eye of governments,if they are everything legally and obtained the money in right way then no need to worry about and also you have to pay the right taxes from the earnings or it also will be a punishble offence.
But lot of loopholes and underworld market available where we can pay extra and can get everything done in the way want.
It's not about paying the taxes all the time. You can't believe how a govt can interfere in all of your funds, it depends on the country where you live though. But lot of loopholes and underworld market available where we can pay extra and can get everything done in the way want.
May 21, 2019, 08:23:34 AM
I know what you mean, the simple answer to that: you can't run away from the government. But if you talk about insignificant amount of money then it does not matter much.
Of course he can, he will perform his transaction in a clan way without the government tracing it to cryptocurrency, but hard cash will surely be involved, it is now left to him to explain to the bank when depositing how he got the cash if the amount is very significant for them to query. All he needs to do is just involve a local exchanger, they will do all the dirty work for him, and then get him his cash once they get their own BTC. After all, government cannot even trace anything that is being done through the blockchain transaction, and since he will be depositing cash by hand, no one will be able to trace it too with that.
But lot of loopholes and underworld market available where we can pay extra and can get everything done in the way want.
May 21, 2019, 07:57:52 AM
I know what you mean, the simple answer to that: you can't run away from the government. But if you talk about insignificant amount of money then it does not matter much.
Of course he can, he will perform his transaction in a clan way without the government tracing it to cryptocurrency, but hard cash will surely be involved, it is now left to him to explain to the bank when depositing how he got the cash if the amount is very significant for them to query. All he needs to do is just involve a local exchanger, they will do all the dirty work for him, and then get him his cash once they get their own BTC. After all, government cannot even trace anything that is being done through the blockchain transaction, and since he will be depositing cash by hand, no one will be able to trace it too with that.
May 21, 2019, 07:23:51 AM
I bought crypto coins during the winter of 2018-2019 when prices were bottomed out. So when the next big price surge tops out, I'll have some nice PROFITS. I've got accounts on several exchanges, like Coinbase, Gemini, and others. All seem to be reputable with the FDIC banks, and I'm confident I can withdraw my cash from exchanges to banks and then get cash from the banks.
BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
This is the easiest thing you are looking for, that is why we have local exchanges that would do that for you, especially the ones that are directly operating in your country over the counter, where you can walk to and make your order.BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
If you use the online local exchanges, bank may still trace their deposit because whatever accounts those ones will use to transfer will be the one opened for cryptocurrency which may definitely have element of cryptocurrency in their registration. Over the counter, you can just request for cash which I am sure they will attend to such request.
May 21, 2019, 01:35:56 AM
I bought crypto coins during the winter of 2018-2019 when prices were bottomed out. So when the next big price surge tops out, I'll have some nice PROFITS. I've got accounts on several exchanges, like Coinbase, Gemini, and others. All seem to be reputable with the FDIC banks, and I'm confident I can withdraw my cash from exchanges to banks and then get cash from the banks.
BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
Local bitcoins have alternative payment options as well along with bitcoin like western union or even you can meet the persons and can complete the transactions but those were risky compared to bank transactions. BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
May 20, 2019, 07:14:55 PM
Any details to share?
If you do have some serious cash amount there then they might really able to track you out.You can make p2p on your place which had been said by other members which you can
potentially make transactions between them but you should aware on possible risk.
May 20, 2019, 06:53:49 PM
I bought crypto coins during the winter of 2018-2019 when prices were bottomed out. So when the next big price surge tops out, I'll have some nice PROFITS. I've got accounts on several exchanges, like Coinbase, Gemini, and others. All seem to be reputable with the FDIC banks, and I'm confident I can withdraw my cash from exchanges to banks and then get cash from the banks.
BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
You can find a local exchanger that can pay with cash or just loading a prepaid card.
Check on your local board here on bitcointalk, there are always people that provide exchanges at reasonable rates even with escrow.
May 20, 2019, 06:37:03 PM
You can ask your friends to withdraw the money into his account, and then he will go to the ATM to withdraw the money and give it to you.
In that case, you don't have to bother with the government at all, and besides that, the money will not go into your bank account, and your friend is your savior in that story
But I am curious about how long you can hide from the government because they will investigate your friend bank account, especially if they found that your friend has already withdrawn big money to his account.
In that case, you don't have to bother with the government at all, and besides that, the money will not go into your bank account, and your friend is your savior in that story
But I am curious about how long you can hide from the government because they will investigate your friend bank account, especially if they found that your friend has already withdrawn big money to his account.
May 20, 2019, 06:14:13 PM
You can have a few cards of different banks, or use cards to your loved ones. Then you can divide your profit into small amounts and send it to these cards. Then no one will suspect you of anything.
May 20, 2019, 05:57:21 PM
I bought crypto coins during the winter of 2018-2019 when prices were bottomed out. So when the next big price surge tops out, I'll have some nice PROFITS. I've got accounts on several exchanges, like Coinbase, Gemini, and others. All seem to be reputable with the FDIC banks, and I'm confident I can withdraw my cash from exchanges to banks and then get cash from the banks.
BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
Once an ATM is involved, the bank is. Just know this.BUT -- I don't think I want the banks knowing all my business, and I certainly don't want to pay too much in taxes. Some ok, but not everything.
So what are my options for transferring numbers in my exchange account to cash in my hand, nice and anonymous and tax-free like? I've heard of gift cards being charged up with exchange funds and withdrawn from ATMs.
Any details to share?
From my perspective, an easy way to go about such withdrawal without using the exchange directly to your bank is to sell directly to a buyer with whom you are in the same group or someone you know personally and the buyer pays the money into your account or hands it over directly to you. However, there is a risk involved in this if you don't use an escrow. There is a section of this forum where you can get such a services. Just browse through the Market place.
May 20, 2019, 05:34:33 PM
I guess OTC exchanges may he your best choice. With that, you only find a peer to send your money to and you wouldn't need any bank as a medium. Also with OTC, you decide on the payment method you'd want to use. You should however check on your jurisdiction and how they treat OTC transactions. Some countries don't like it when they can't track your transactions.
May 20, 2019, 05:25:31 PM
I know what you mean, the simple answer to that: you can't run away from the government. But if you talk about insignificant amount of money then it does not matter much.
Very risky indeed if you are too forced to make individual withdrawals from everyone who wants to buy or exchange them, I strongly agree that we cannot be completely out of the scope of the government but I believe the government provides better security by withdrawing from the bank, where stay? maybe there is like a Bitcoin ATM or something like that if there isn't already there isn't too much to do and the bank is a good and safe choice than others for now. 
May 20, 2019, 09:43:43 AM
I know what you mean, the simple answer to that: you can't run away from the government. But if you talk about insignificant amount of money then it does not matter much.
May 20, 2019, 09:19:20 AM
There are a number of ways to extract cash from exchanges with going through an intermediaries:
that's not the best way. - You can use your debit/credit card.
- You can join an escrow platform which provide FIAT currency against your cryptocurrency.
there are some ways that can be tried by OP.
OP can buy gift card and then sell it and it may takes a little fees but that's not a lot. that's only a few pennies.
for second way OP can try to sell his balance directly through this forum by used escrow service that provided by the DT numbers.
Both can become the best way to cash out OP's money without involving the banking service.
Used cart will charge you a lot of money.
May 20, 2019, 08:39:14 AM
There are a number of ways to extract cash from exchanges with going through an intermediaries:
- You can use your debit/credit card.
- You can join an escrow platform which provide FIAT currency against your cryptocurrency.
May 20, 2019, 12:32:16 AM
What is not being said is that people want to keep their rewards and profits private from agencies that force you to give them a cut.
The only way is cash.
The only way is cash.
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