I’m fully KYC with unlimited fiat withdrawals on Kraken & Stamp, I have a big daily withdrawal acceptance on Coinbase Pro & something smaller like €200,000 per year on Localbitcoins.
I’ve linked 3 fiat bank acc’s to Kraken too.
Boys, you need to be prepared for next year, HairyMaclairy told me to be a boy scout in prep for the next bull run & I definitely have been. You do not want to get caught slipping when peak bull comes & the mempool is jammed to hell & exchanges are so busy.
Do what needs to be done, mini trial sells etc now. Get fully KYC’d on as many trusted exchanges as poss & link more than one bank account incase they block your account temporarily & ask you to explain source of funds when you dump multi millions in there.
I’ve linked 3 fiat bank acc’s to Kraken too.
Boys, you need to be prepared for next year, HairyMaclairy told me to be a boy scout in prep for the next bull run & I definitely have been. You do not want to get caught slipping when peak bull comes & the mempool is jammed to hell & exchanges are so busy.
Do what needs to be done, mini trial sells etc now. Get fully KYC’d on as many trusted exchanges as poss & link more than one bank account incase they block your account temporarily & ask you to explain source of funds when you dump multi millions in there.
This in interesting.
Are you ready to be visited by HM Revenues?
They will ask you, in the best case, a large chunk of your Bitcoin gains, or worse, ask stupid things like AML questions...
Do you know how they will tax your signature coins? What is their buying price?
as an early miner i signed messages for most of my mining pool payout addys which are the bulk of my stack. those coins havent moved aside from sells and claiming bcash_lol/bsv and being moved to new wallets - my wallets, not exchange wallets - every so often. i printed those signed addys out and have them in safe deposit boxes etc for just such a reason (as well as .csv/screenshots on my computer and have backups etc). ive also listed buys and sells, including merchant payments (newegg, PMs etc) on my taxes over the years. i also have receipts for all my mining related gears and pics of my cards, fpgas, asics and the mining rigs from back in the day.
as you said they WILL at some point want to know where that comes from. and ive cashed out amounts already that raised some pretty big flags over the years ($10,000 USD is a trigger for a flag so i try to do at least 10k withdraws when i do pull corn out to fiat). might as well flaunt it. dont want to be accused of structuring (if thats the term) to try to hide from red flags. not a peep from the irs or the bank.
again, as you say, be prepared to prove where your stack came from. btw my main bank account for selling coins has no problem with coinbase and the amounts ive sold.
