/biz/ - Business & Finance

>>12931753
cashing out?
>he doesn't know

>>12931753
Are u retarded?

>>12931753
you can only withdraw $50 usd at a time usually. we discourage bank runs on the exchange, normie
>not knowing this
your money is with us now. read the fine print tos

>>12931753
No, anyone liquidating more than 100k in crypto probably knows how to launder that money well.

ITT: retards
I cashed out $600k in December 2017
Bought a house, new truck, and stocks last year, all in cash
Paid $144k in income tax
Stay mad

>>12931949
chad

>>12931753
I cashed out close to $75k in January 2018. I immediately used it to pay off the rest of my student loans.

I used both ACH and wire transfer to cash out through Gemini.

>actual proof unlike the LARP retards

>>12931987
How did taxes go?

>>12932056
kek. out of debt with one section of the government only to be in debt with a much smarter and more violent section

>>12931949
I assume it's pretty easy if you're just willing to pay the IRS what they're expecting on the gains

>>12932080
So you owe the irs about 30k?

Cashed out 100K in Jan 2, 2018. Bought dividend stocks with avg. 8% yield with that.

>>12932056
I paid my taxes at 32% tax rate. It was around $20k. I felt kinda bad back then because everyone assumed 2018 would be a great year for crypto. But I didn't want to gamble.

>>12932171

Smart move honestly.

And yeah just cash out through normiebase and pay your fucking taxes.

Theres no way around it if you don’t want to deal with criminals or risk jail time.

Don't believe these larpers op art f you try and cash out they freeze your account and you get investigated. Everyone knows that. None of us here really own any of this shit it's just pretend.

>>12932171
Based. Good job anon

Yes. Depending on where you are and where you trade it can vary, but as far as I know, you can generally do up to a million at bigger exchanges. Beyond that, you would go through OTC and dark pools, or most likely face some big premiums from your exchange. Actual corporate crypto clients looking to put millions in are not going to be shorting them for a few cents on the dollar on Binance though, they usually seem to just buy and hold.

Over 100k cashouts on exchanges, again, only if that exchange is solvent. If it's not, then you are going to get endless delays marked as 'Completed' and the helpdesk crew will do their best to stall you from initiating possible legal action, hoping that enough deposits will come in to pay out pending withdrawals

t. Guy who narrowly missed being robbed by Quadriga by approximately one month. Thank you for not taking my money away, universe.

i cashed out a little over €120k at the top because i felt uncomfortable having a million $ in only meme currency.should have cashed out more in hindsight

>>12932122
I was commenting on his situation, where it looks like he cashed out only an amount that was all spent without paying taxes

>>12931987
IRS tax bait thread literally asking for a proof of cashout
he posts it
you are madman anon

>>12931822
This thread is bullish because clearly they don't know...

>>12931987
damn perfect timing congrats. I wish I still had my 400k from that time. it's 20k now lmao

Only fuck with cuckbase and gemini concerning big cash outs.

>>12931857
>$50 usd at a time
Coinbase let me withdraw $10,000 at a time, is this lad straight up lying or have things just changed that much in two years?

cashing out isn't a problem, the problem is if you got in early, and didn't keep a record of your transactions. there are thousands of people that have made a lot of money but did it when crypto was so niche that they didn't take accounting seriously.

>>12932331
330k to 8k here. Feels.

>>12932346
You can even go higher than 10k if you ask for it.

>>12931987
fucking based.

>>12932115
I actually tried to do this when I pulled out in 2017, it was the most hilarious thing ever

I tried going to H&R Block because I assumed having a person help with my taxes would make things easier given my past experiences with turbotax. No one knew the word "cryptocurrency" in the entire building, but a few people knew "Bitcoin" somehow. When I told them I need to have my buttcoin transactions taxed, they unconditionally refused to do anything unless I showed them a form from my "broker". I tried giving them the spreadsheets Coinbase and Bittrex give you, and they kept insisting on a form from my broker because they thought you can't trade crypto without a broker. This is how clueless one of the biggest tax companies in the US was about the biggest investment opportunity of the time.

>>12931987
Is usaa any good

>>12931753
I wanna know, how does this work?
In a case of super win situation, do you simply 50k usd until you reach 1million?
Or when it's gonna be the time, this is not gonna be a problem anymore?

>>12932439
and then how does this work?
You simply transfer 50k usd to your bank account until you reach 1milion?

>>12932439
900k to 37k. boy was i a delusional cunt back then to not even cash out a bit of it

>>12931987
Nice anon, congrats. That's my plan as well, been accumulating for months. Only need like 40k more until I cash out and lose my chains.

Can you cash out 10 million through coinbase?

How do you cash out with the lowest fees?

>>12931857
>soi-pedo-face
every time

>>12931949
>gave 1/3rd of my money away
>stay mad
pick one

What's the max you can withdraw from gemini at once? And can you do it daily?