You can't cash-out anonymously, because every fiat account is traceable through your provided information on accounts like paypal and bank. With the regulation of cryptocurrencies it has now become somehow impossible to hide from government and accountability departments.
The only way is to deal in cash locally without involving banks and paypal, but still the risk is too much high here.
Topic: transferring bitcoin to paypal (Read 234 times)
There is a rumour that paypal is going to start accepting bitcoins as a form of payment with their new patented technology that speeds up transaction times. This is the main problem that is hindering acceptance of bitcoin as a form of payment
No rumor. Looks likes its true, both are soon to enter a marriage. I wonder how it is going to be pulled off, if users of cyrptos still demand their anonymity. See weblink to story below:
https://www.investopedia.com/news/paypal-files-patent-fast-bitcoin-transactions/
There is a rumour that paypal is going to start accepting bitcoins as a form of payment with their new patented technology that speeds up transaction times. This is the main problem that is hindering acceptance of bitcoin as a form of payment
I see the official news released on the Coindesk and some more places too bro. If you want to transfer the bitcoin to paypal there are many people in the exchanges section to help you.
Please do not need to worry about the rumours which are all positive. That is very healthy for investors and we can expect the high value.
There is a rumour that paypal is going to start accepting bitcoins as a form of payment with their new patented technology that speeds up transaction times. This is the main problem that is hindering acceptance of bitcoin as a form of payment
Why u are doing this buy tether its best way for save ur money i think if u dont want hodl bitcoin
Reason I said paypal is because you can pay for purchases like that.
I want to avoid bankaccount transfers as our government want 33% of the profit we make...
33% is a lot. But it is your fee for voting in elections. Such laws are passed by politicians who come to power by your vote. PayPal won't help you. You have a chance to change that in the election. Vote for yourself and agitate for those who promise you to make changes to the tax legislation. Politicians like to please people. Probably, the attitude towards bitcoin will be a trend among politicians in many countries.I want to avoid bankaccount transfers as our government want 33% of the profit we make...
Too easy this.
Apart from that : government is right winged. It would seem that no matter which direction you take in voting you end up with the same end result : screwed.
I would not go to vote anymore due to it being virtually useless, but we are legally obliged to go voting....
What about the debit cards ?
Well Paypal is a debit card. Do you mean a debit card linked to your checking account or an anonymous debit card?Preferably anonymous.
I think you can do it on localbitcoins, but I don't know if it is really secure, probably this is available for low amount of money. Why do you want paypal? there is a lot of different good methods.
What is the best, most secure and hard to trace way to transfer bitcoin to USD/EUR on a paypal account ?
it's never hard to trace. paypal is always easily traceable, that's why it can't compete with bitcoin. you have easy to use ways of transferring btc to eur/usd though, try changenlly for instance
What about the debit cards ?
Well Paypal is a debit card. Do you mean a debit card linked to your checking account or an anonymous debit card?
There is no secure and untraceable way to exchange bitcoin to cash online because every payment proccesor or bank keeps a record of all transactions and ID's from people who make them for at least 2-3 years and they have to report it to the government in case of anything happens.
The only way you can exchange your bitcoin is through a local seller who is going to give you cash but again, that person is required to ask you an ID as the law says. You could also try the atm's that exchange your bitcoin instantly into cash but I dont know exactly how they work, I think they also require some of your personal information.
The only way you can exchange your bitcoin is through a local seller who is going to give you cash but again, that person is required to ask you an ID as the law says. You could also try the atm's that exchange your bitcoin instantly into cash but I dont know exactly how they work, I think they also require some of your personal information.
Reason I said paypal is because you can pay for purchases like that.
I want to avoid bankaccount transfers as our government want 33% of the profit we make...
33% is a lot. But it is your fee for voting in elections. Such laws are passed by politicians who come to power by your vote. PayPal won't help you. You have a chance to change that in the election. Vote for yourself and agitate for those who promise you to make changes to the tax legislation. Politicians like to please people. Probably, the attitude towards bitcoin will be a trend among politicians in many countries. I want to avoid bankaccount transfers as our government want 33% of the profit we make...
What about the debit cards ?
Below 20k USD.
Then you're probably good as far as tax is concerned. As long as your deposits to Paypal are <$20K for the year.Paypal IRS reporting:
https://www.paypal.com/us/selfhelp/article/How-does-PayPal-report-my-sales-to-the-IRS-Will-I-receive-a-1099-tax-statement-FAQ729
Coinbase reporting:
https://support.coinbase.com/customer/portal/articles/2924446-irs-notification
I have done identical exchanges in the past using Localbitcoins. It doesn't necessary leak your information to third parties, assuming that the person you do business with doesn't include a note saying "Bitcoin exchange". Always make sure to do some background check, before dealing with a person on LocalBitcoins, for example check some reviews about the dealer and google his username. Also read the instructions of the system, because newbies are an easy target for scams.
Reason I said paypal is because you can pay for purchases like that.
I want to avoid bankaccount transfers as our government want 33% of the profit we make...
I want to avoid bankaccount transfers as our government want 33% of the profit we make...
Usually it's the exchange (e.g. Coinbase) that reports to the tax authority. In the US the IRS is only interested in Coinbase customers with >$20,000 in profits. Paypal also doesn't report anything to the IRS that's <$20,000 in one year.
You didn't say how much money you're looking to convert.
Below 20k USD.
Maybe for you will be useful services localbitoins.net . There many people who want to sell their paypal money for bitcoin.
Reason I said paypal is because you can pay for purchases like that.
I want to avoid bankaccount transfers as our government want 33% of the profit we make...
I want to avoid bankaccount transfers as our government want 33% of the profit we make...
Usually it's the exchange (e.g. Coinbase) that reports to the tax authority. In the US the IRS is only interested in Coinbase customers with >$20,000 in profits. Paypal also doesn't report anything to the IRS that's <$20,000 in one year.
You didn't say how much money you're looking to convert.
Reason I said paypal is because you can pay for purchases like that.
I want to avoid bankaccount transfers as our government want 33% of the profit we make...
I want to avoid bankaccount transfers as our government want 33% of the profit we make...
OP was specific about Paypal but if he's willing to bend a little, there are good options by using Bisq (formerly known as Bit Square). Bisq is a decentralized exchange so there's no KYC, etc. You'll still need to get your USD or EUR into the banking system somehow but there's no way around that even with Bisq.
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