How to withdraw money won from bitcoins to banks without suspicion - page 2.

GannickusX

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Quote from: RodeoX on June 24, 2015, 11:14:57 AM

Quote from: kelsey on June 19, 2015, 09:38:57 PM

what i love most about the bitcoin community; is the irony of almost every single person being in it for the fiat Lips sealed

lol, true.

But some of us are the real deal. I ONLY use BTC online and have never sold any bitcoin. Keep your shinny metal poker chips and fancy paper. I only want 1's and 0's.

No irony at all, in my country you cant buy shit with bitcoins and online, meh, can i buy food with bitcoins? Well i cant, what am i supposed to do? Starve? Before saying stupid shit think a little bit, i would love to use bitcoins for everything but unfortunately is not possible.

RodeoX

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Quote from: kelsey on June 19, 2015, 09:38:57 PM

what i love most about the bitcoin community; is the irony of almost every single person being in it for the fiat Lips sealed

lol, true.

But some of us are the real deal. I ONLY use BTC online and have never sold any bitcoin. Keep your shinny metal poker chips and fancy paper. I only want 1's and 0's.

bitnanigans

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It's recommended you pay the taxes.

If you absolutely want to avoid paying the taxes, you can set up an offshore company in one of the jurisdictions where you're not taxed, open an offshore bank account and transfer the funds to the bank account. Then you can spend directly, or make periodic withdrawals (as a salary or similar) to your local bank account from the offshore bank account.

Amph

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Quote from: CoinBateman on June 18, 2015, 02:52:11 PM

Xapo debit card is a fantastic way to use your bitcoins and bypass the bank.

too bad their fee to withdraw from ATM are not that cheap, all those card that come with anonimity, have very high fee, this kill a bit the point...

still waiting for something very cheap that have a good privacy

noel57

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Register with any registered forex trading broker that accepts bitcoin and issues either their private debit cards or payoneer debit cards, send in 50 btc into your trading account and withdraw using your debit cards, if you with 2,000 euro make a deposit of 5,000 euro back to your trading account and bit by bit you will withdraw it all.
Also the money will be traceable to forex trading company because ATM machines often takes snap shot of people who are using it.

the_reprobate

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Quote from: kelsey on June 19, 2015, 09:38:57 PM

what i love most about the bitcoin community; is the irony of almost every single person being in it for the fiat Lips sealed

because without fiat bitcoin doesn't have any worth

Quote from: Stingery64 on June 20, 2015, 12:10:42 AM

as far as i know, in spain you can have up to 10 000€ each each without giving any proof of where the money comes from,

10 000€ a year is not really a big amount for the,. just for you, and you can withdraw all your money in two years, in fact, 2 months if you do it 1 in december and 1 in january hehe,

any weay, better ask this to a lawer,

Banks would likely to be suspicious if you suddenly gained that amount in a short span of time then withdraws it quickly

Stingery64

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as far as i know, in spain you can have up to 10 000€ each each without giving any proof of where the money comes from,

10 000€ a year is not really a big amount for the,. just for you, and you can withdraw all your money in two years, in fact, 2 months if you do it 1 in december and 1 in january hehe,

any weay, better ask this to a lawer,

kelsey

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what i love most about the bitcoin community; is the irony of almost every single person being in it for the fiat Lips sealed

gon

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You can withdrawl with using ATM. It is anon.

CoinBateman

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Xapo debit card is a fantastic way to use your bitcoins and bypass the bank.

medUSA

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Quote from: GannickusX on June 18, 2015, 06:02:51 AM

Quote from: medUSA on June 18, 2015, 05:47:59 AM

Have you considered getting a bitcoin debit card and spend the bitcoins buying everyday things?

I have not, i didnt know such thinng even existed, are you sure about that? Anyways that wouldnt solve my problems long term since i would like to have cash aswell.

There are quite a few Bitcoin debit cards now, I am surprised you haven't heard of them. I know Bit-x, xapo and anx do them. Remember to check their fees and rates carefully before application.

In the long term, you will have to "link" your bitcoin exchange account to your Spanish bank account and pay the taxes if there are any. Personally, I would rather do it later than sooner, because banks aren't very friendly to bitcoins right now. I do not want my account closed because they think I might be money laundering.

GannickusX

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Quote from: medUSA on June 18, 2015, 05:47:59 AM

Quote from: GannickusX on June 17, 2015, 12:46:41 PM

My question is simple, say for exanple you have 100 btc and you convert them ito money 20.000€ approximately, if you withdraw that to your bank you would probably have problems

Have you considered getting a bitcoin debit card and spend the bitcoins buying everyday things? You would save the fiat you would have spent. Then, it's like you have sold your bitcoin for fiat in small amounts without the banking problems. You can even buy things for your friends and they pay you back in fiat. I know this is not your ideal solution. I believe this will save yourself a lot of difficult questions from your bank.

I have not, i didnt know such thinng even existed, are you sure about that? Anyways that wouldnt solve my problems long term since i would like to have cash aswell.

medUSA

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Quote from: GannickusX on June 17, 2015, 12:46:41 PM

My question is simple, say for exanple you have 100 btc and you convert them ito money 20.000€ approximately, if you withdraw that to your bank you would probably have problems

Have you considered getting a bitcoin debit card and spend the bitcoins buying everyday things? You would save the fiat you would have spent. Then, it's like you have sold your bitcoin for fiat in small amounts without the banking problems. You can even buy things for your friends and they pay you back in fiat. I know this is not your ideal solution. I believe this will save yourself a lot of difficult questions from your bank.

GannickusX

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Quote from: Mikestang on June 17, 2015, 05:55:32 PM

Talk to your CPA, not an internet forum.

If by cpa you mean lawyer, i dont think my lawyer will help me to not pay taxes, which is what im asking for here, how to not pay taxes, if i wanted to know how much and how exactly i wouldnt be asking but thanks for your answer.

Amph

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Quote from: GannickusX on June 17, 2015, 02:23:43 PM

Quote from: Amph on June 17, 2015, 02:15:19 PM

Quote from: GannickusX on June 17, 2015, 01:47:41 PM

Quote from: DebitMe on June 17, 2015, 01:27:02 PM

Quote from: GannickusX on June 17, 2015, 01:19:13 PM

Quote from: DebitMe on June 17, 2015, 12:51:30 PM

Quote from: GannickusX on June 17, 2015, 12:46:41 PM

To a spanish bank to be exact. I would have asked this on the spanish section but people is not really active there. My question is simple, say for exanple you have 100 btc and you convert them ito money 20.000€ approximately, if you withdraw that to your bank you would probably have problems because its already a pretty big amount and im sure that if you do it in small amounts someone will realize after all. I could pay the taxes, yeah.. But its a really tedious thing to do specially when it comes to bitcoins and i dont really want to lose like 50% of the amount of profit im getting.

pay the taxes, don't be greedy, if you get caught later on your problems will be compounded. There are many ways to exchange. Do it through localbitcoins or find a trusted member on this forum or use a large exchange, but just pay the taxes. It really isn't that tedious and you won't have to worry about getting caught.

Its tedious because i dont really kow what taxes i have to pay or what to say exactly when they ask me where my income comes from, what do i tell them, investments, trading?

I am unfamiliar with taxes outside the U.S., but here are some guidelines...

How did you earn the money? Was it from gambling or trading? Where did you get your initial bitcoin and at what price?

Mostly from trading but also from here, the signature campaigns the giveaways sometimes, how do i justify that? My initial bitcoin? I never bought a straight up bitcoin, more like 0.3 to 0.5 at a time

if your income per year isn't too high, don't even bother with declaring taxes on it, otherwise you can just declare it under "occasional services" i don't know how it is called in the USA

So if my income is less than "x" amount i dont have to declare it? Or you say it because they wont probably notice, whats the occasional services thing?

yeah usually if your income is very low, like below 1k in one year, you don't need to declare, i don't know in your country what is the minimum, you should check for it, here the minimum is 4800 euro, below that you don't declare taxes, it should be around the same for other european countries

Mikestang

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Talk to your CPA, not an internet forum.

RodeoX

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The revolution will be monetized!

I don't think your tax liability will be that much. You mentioned 50%, I have no expertise on Spanish tax law, but that sounds way too high. You likely just owe capitol gains on the appreciation in value. So the tax is not on the total, just the gain.
For example if you bought a BTC for 1Euro, then sold it for 2Euro, you owe some percentage on the Euro you gained. If you sold for 0.5Euro then you may be able to claim a loss and actually reduce your taxes.

In the U.S. capitol gains tax varies depending on your tax bracket. It could be zero or as high as 15%, for most payers. I think on average I have paid about 10%. Nobody likes to give up 10% to an entity that did nothing to earn it, but that is another issue.

GannickusX

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Quote from: Sourgummies on June 17, 2015, 03:44:43 PM

Small amounts will still trigger alerts. You would be best to look at trading your bitcoins through other platforms to get it offline.

I know small amounts will trigger alerts thats why i said it was not a good idea, the only thing would be to get it in cash but im not sure how would i do that for big amounts of money

Sourgummies

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Small amounts will still trigger alerts. You would be best to look at trading your bitcoins through other platforms to get it offline.

coininga

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Quote from: GannickusX on June 17, 2015, 02:23:43 PM

So if my income is less than "x" amount i dont have to declare it? Or you say it because they wont probably notice, whats the occasional services thing?

You should consider taking a legal advice about this, or ask an accountant.
"Occasional services" means that you do some work once in a while (how "occasional" it is, it depends on each country). That doesn't mean that you don't have to declare it, but I'm no expert.
Again, consider taking legal advice about this, you don't want to get in trouble with the law!

Topic: How to withdraw money won from bitcoins to banks without suspicion - page 2. (Read 3950 times)