/biz/ - Business & Finance

Also EU fag, should I call my bank before I cash out so they know there's a large amount of money incoming?

What about taxes?

>>21092950
LMAO
AHAHHAHAHAHAHAHAHA
SCREENCAPPED FOR 2021

>>21092995
these guys have no idea. Larger and unusual income will reported.

>>21092950
>300 dollars worth of fees
What the fuck. What about coinbase pro?

>>21093019
This. A whole new BTC and ETH era of early cashout and KYS is being born. Will enjoy all the way past $500.

>Selling just before the blatant momentum starts revving
You chose the dumbest time to dip

>>21093032
iirc you can't trade link on coinbase pro

>>21092991
I think yes. The bank have to report any activity that looks weird so you will have to call, explain when it comes from, and probably tell you gonna declare it under whetever statuz depending of your cunt

>>21092950

it would be better to be completely ignorant to crypto than tho sell the bottom. It would be like a permanent scar on your life as you wage slaved for the next 40 years, it would pass as hell

>>21092950
>selling 1 million dollars in 2021/5 million in 2022 for peanuts

Congrats you traded your one chance at making it for a third of a toyota camry

>>21092950
Congrats fren how will this windfall change your life?

>>21092950
Lol those Linkies are gonna be worth like 100k soon and you sold them for 10k lmao. Gonna be hilarious in a few days when LINK hits 25 bucks.

>>21092950
>he sold

>>21092950
what a weak handed pussy

>>21092950
wtf do people really pay 300 dollar in jewbase fees? lmao

>>21092950
>I'm keeping a suicide stack of 200 link
Should have sold 200 and kept the 1000 link which is the actual suicide stack...

Weak bait

Why is 10k a lot of money to you. I have 10k links and I feel like its pennies still. Wtf is 10k gonna do.

Why would you do this for a such a small amount? Anyone with 3000 or less should not even be considering selling for sometime to come.

>>21093422
Retards need to consoom

>>21092950
why would you cash out when the whole fiat monetary system is dying before ur eyes? i dont hold a single link and never will but damn breh ur tarded

>>21092991
I didn't call mine.
I have sent money to coinbase from the same bank where I now received the money, so it shouldn't be too hard to explain.
I also have roughly 60k with that bank in various accounts and stocks, so overall the 10k shouldn't be too suspicious. I do intend to pay the capital gains taxes though, that's for sure.
>>21093106
>selling 1 million dollars in 2021/5 million in 2022 for peanuts
that's okay, I still have 200 link. I'm keeping those forever. If LINK goes to 1k I will be happy with my 200k.
>>21093133
>Congrats fren how will this windfall change your life?
honestly not much, I'm worth around 150k. I will place it into safe and under priced stocks for now and eventually use it to buy my grandparents farm within the next couple years.
>>>21093232
>what a weak handed pussy
Nah. I sat through the 2017 bullrun without selling. And then I sat through all the crashes and hard times after that without selling. Weak hands sell during bad times, these are good times.
>>21093377
>Why is 10k a lot of money to you.
it isn't. I just made a promise to myself to sell 1k when it hit 10. I have similar promises for a few other coins.
>>21093422
>Why would you do this for a such a small amount?
Once the Link heater started I just set myself a goal of selling at 10. I've been bad at selling during heaters and wanted to take some profits for once.
There's a chance this is like the 1000 bitcoin for a pizza trade or whatever, but I'm willing to take that risk. 10k is a lot of money, you can get a lot of shell stock for that money right now, which is a guaranteed 2x over the next year.
>>21093592
I'm keeping my "currency" cryptos like bsv and ltc. Plus I have 2000 ounces of silver. I'm ready for the death of fiat

>>21092950

Congrats on taking profit. Hope you make the 10k worth it. It was absolutely the fucking wrong move as this is just getting started, but hey you made 10k.

People now start to think of LINK in double digit movements, not single dollar movements any more.

>When 15USD
>When 20 USD?
>Will this reach 50USD?
>Can we actually hit 100 USD in the next 3 year?

Good to take profit, but you have completely thrown away any chance of really making it. Congrats on getting a lump sum towards a deposit on a house that'll indebt you forever.

>>21093631
aight, you got my respecc back

>>21093631
You seem like a rational person and made the decision for the right reasons but I'm sorry to say that you will more likely than not live to regret it.

Even though I’m not in Chainlink and never owned any. Why would you cash out now?
Is $10k gonna impact your life to a large degree? If not, then unironically you don’t deserve to make it.

>>21093646
> 3 years?
You mean 3 months!

>>21092995
probably, in my cunt it's 20%

>>21093702
He's not rational because he had 3 years to understand what he had invested in. All the research was here, it was all in front of him.
He's now selling a three weeks before this: https://www.smartcontractsummit.io/
He's a plebbit level normie who got lucky. He didn't read, he didn't research, he didn't do the work.
Remember that while it's going to get great getting rich from this, the schadenfreude will just about be as good. Particularly with the chartfags on Twitter.

>>21092950
Your an idiot anon. The bullrun hasn't even started yet

June last year I bought 500 bucks worth of LINK (everything I had) just out of some memery. Around about November last year I left /biz/ for good due to the FUD about the 5k LINK dumps every day. Realised I had been memed on and decided to keep the LINK forever as a reminder of how fucking gullible and stupid I can be.
Going to keep it a while longer I suppose.
Thanks for reading my blog.

>>21093067
yeah you can

>>21092991
>>21093074
Eu fag here
Also 50k link marine
Cashed out 5k link on from cb, fees hurt but its easyest and safest way desu
You dont need to do anything like calling bank (over 10k will get reported due money laundering laws but thats it no worry since yo uare not acually mling) and no tax on capital gains if you held more than 2y.
took 2 days to receave funds
Cant cash out is meme

>>21092950
DUDE WTF ARE YOU DOING ON COINBASE. Kraken is the EU best fiat ramp. You just lost 290 USD in fees. On Kraken you would pay literally 10USD equivalent of fees.

Also Kraken serves EUR instead of USD to EU customers.

Most safest way to cash out aswell, since you whitelisting you bank account, your data must match data on your bank account, and locking global settings for one week.

That means you cant change anything on the account without 7 day waiting period.
>add your banks
>whitelist your crypto adresses
>lock global settings

also gj on making money on crypto, and not paper gains.

>>21092950
>EU fag
Of course you fucking are.

>>21092950
somebody should screencap all these nerds calling u retarded and make a nice post after this shit inevitably retraces to $7

>>21092995
PAY YOUR FUCKING TAXES.

>>21094418
thanks for the kraken tip, fren.
Coinbase was pretty much the only platform back when I started, so I have never bothered to check anything else. RIP 300 dollars in fees. I will definitely check out Kraken
>also gj on making money on crypto, and not paper gains.
thanks. With all the hate I'm getting a little seller's remorse here, but taking profit is never a bad thing. I pretty much 50x'ed my money so it's hard to feel too stupid.
10k is also more than I have ever put into crypto, so I'm officially in the money forever and the rest of my portfolio is pretty much like playing with the house's money.

>>21094418
what if your American where do you for cheap fees.

People are going to get mad about this because deep down they know crypto is a Ponzi and only limited people can actually cash out

>>21094612
Link to btc buy gold in apmex sell locally

>>21094572
Coinbase vault is cool , but in terms of fees, bank relations, and insurance - Kraken is the shit. It just have way harder interface. Kraken Pro is the one closer to Binance UI for buying/selling, i dont recommend Kraken basic tools for orders.

Dude selling remorse will always most likely haunt you if X asset goes up, but this is motherfuckin wild wild west of a market.
24/7 unregulated, whale and algos controlled shit.

It can be over when someone pulls a rug, and we hit 9K BTC in a single candle, then a fuckin panic starts.

Maybe you sold too much and you should've sold only 50%, but thats your strat, so you made a decision to stick to it.

>>21094612
i dont know my dude, check all FIAT ramps in USA and calculate fees. maybe create another thread so burger autists can help you. Kraken is not avaible in USA ?

>>21094347
What fees does coinbase have which hurt so much?
Wouldn't it be better to use coinbase pro instead?

Are you sure we don't have to do anything when you suddenly transfer a few millions on your bank account with less than 50k on it?

>>21094266
Those dubs deserve checking
Stay aboard, Marine!

>>21094861
>>21094861
>What fees does coinbase have which hurt so much?
>Wouldn't it be better to use coinbase pro instead?
Same shit its not trading fees its cashing out and transwer fees
>>21094861
>Are you sure we don't have to do anything when you suddenly transfer a few millions on your bank account with less than 50k on it?
In eu yes aml laws only care about where money came from and redflag only cash deposits (CB here is regulated estonian bank with sepa and shit)
You only pay capital gain tax on assets you held less than 2y I provided proof i bought eth sub 100$ on cb with dates and in value of cashed out sum and that was enough to be tax free kek

>>21092950
you just propably made the biggest mistake of your live.

>>21093646
t h i s

I get cashing out at some point, but at $10? When you got in early??

This could easily go to $100. You said you're worth $150k. $10k is pennies to you. why not just wait? if it dips too hard you can cash out then

I'd call you ignorant for selling all your crypto's, especially when you could have made a huge payday on gambling at play.earnbet.io lol. I got a 8.8 times on crash. Check it out, its a decentralized casino.

>>21095747
>why not just wait?
Because I set myself a goal of cashing out 1k at $10.
I have been wanting to take some profits for a while, for all my coins, but I've been having a hard time pulling the trigger. So i set myself some goals and stuck to it. Link just happened to be the first one to hit the goal.
Also, for the first time in my adult life, there are actually some good deals in the stock market and soon there will be ones in the real estate market. Part of the reason why I didn't sell during the glorious bull-run of 2017 was that I really didn't want to put that money elsewhere, now I do.

>>21095210
I remember coinbase hiding fees in their price difference, but the withdrawal fee with fiat is cheap.
If you use coinbase pro the trading fees are reduced with a higher trading amount:
>Tier Taker Maker
>$100K - 1M 0.20% 0.10%
>$1- 10M 0.18% 0.08%

0.2% of 1M is $2000.
The main question is if it's worth looking at cheaper alternatives if it makes your life more complicated.

Kraken is a bit cheaper under 50k but it there is a smaller difference for higher amounts.
Binance could be cheaper but you need to trade 2 times to get into fiat if you use their own platform which could make it cost more.
Their Fiat platform has almost no liquidity and could cause some issues with transfers outside of Asia...

Personally I am currently looking in opening up a new bank account in Switzerland exclusively for my crypto/trading activity and to separate it from my standard accounts to make my life easier in case they decide to freeze my assets or try to take my money during a banking collapse..
It will cost me a bit more but it seems that's the price to pay to protect my assets.

>>21092950
Somewhat unrelated but asking if any anon knows anyway. I'm from the EU but bought my cryptos through a US bank (I'm an international student in the US). If I was to cash out, would I pay capital gains tax to the US or my cunt?

>>21096695
You generally only need to pay taxes to one country, and that is typically the country where you are a legal resident and have been so for an extended period of time (3 years for norwegians, but IDK about rest of Europe).
Or put another way, to what country do you pay taxes now? That's probably the one where you will pay your capital gains tax to.
You generally have to move away from your home country for several years before you stop paying your taxes to your home country.

>>21097064
Thanks anon!

>>21092950
>pink id
>sold
checks out

>>21092950
It's always euros who are dumb pussies

>>21092950
>Coinbase raped me with roughly 300 dollars worth of fees
Wait until you have to pay the 30% flat tax, that's almost 3000 eurorinos my fren

>>21092950
Smart man OP. Instead of the 12 year old Cheetos warriors on biz you actually took profit and have something to show. They do t realize not everyone gets to cash out at these prices.

>>21098813
I might cash out some but cashing the majority of your links right now is big dumb

1000 link x $1000 = $1 million dollars
and link will hit 2.5k in 2024
so u sold at least $2.5 million dollars for $10k LOL

>>21094572
>>21094768
coinmetro is even cheaper