/biz/ - Business & Finance

Who's better?
Binance?

this has been debunked

>go back
Fuck Reddit posters

Stop posting Reddit you niggers. I automatically report you to KEK

>>24157135
>plebbit
He should just pay the 200k$ to help niggers and whores, also he should eat the bugs and be happy

>>24157135
No shit nigger, you think anyone with a brain wouldn’t know KYC? This is why you have multiple wallets. Fiat-> COINBASE-> meta mask-> trezor

>>24157206
localmonero.co send cash by mail

I use coinbase to buy crypto then transfer it to my exodus wallet immediately. I've bought like $10k worth through there. Will I be fucked?

>>24157444
always use another wallet before your 'real' wallet. That way you can deny any transactions after that one is yours.

People dont realize how much of a cancer coinbase is. Their practices are against everything we want for crypto.

They make their platform easy to use as a fiat offramp/onramp, but if you niggers really knew how much they work against you in terms of regulations (your crypto can be frozen any moment, just check their subreddit every day is 5 people complaining how their crypto was frozen for no reason) and automatically reporting you to revenue.

Coinbase is pure fucking cancer.

>>24157516
what do you recommend using to buy? localbitcoins?

>>24157206
You can't cash out with binance in the US, correct? Or has that changed? I'm wary of other sites other than CB and binance

I'm too lazy to figure out how taxes work. Can I just claim retardation when the IRS knocks on my door?

>>24157776
No, the IRS doesn’t fuck around but as long as it’s not over $10k you’re fine. They just want a 30% cut

>>24157776
>>sorry officers i didnt know killing someone was illegal can i be off now?

Brother thats what you sound like to them

>>24157776
not sure if serious but this is me

>>24157724
You can cash out with binance us

>>24157135
moving to Kraken for lower fees, I'll still keep my account since having multiple tends to come in handy but slowly adjusting to Kraken and liking it a lot more

I'm american and can't use binance. What do I use instead? Kek remember when we all used bittrex?

feels good living in a country where crypto isnt taxed as income

>>24157804
Technically a sound arguement, to punish a criminal case you need a mens rea, an intent to commit a crime. Retardation is a legitimate defense.

>>24157878
brother you have no idea how the prison-industrial complex works do you

>>24157924
anon is there a penis under that crop

>>24158181
unfortunately not

>>24158181
nvm found the source
https://tumblrgallery.xyz/post/6339538.html
yes, yes there is

>>24158215
>>24158221

>>24158221
mtf u nigger

>>24158339
>>24158244
>>24158221

i meant ftm

its a foid pretending to be male

My account is frozen I just did the shit for free crypto earlier in the year and now that turned into a couple hundred dollars. I used an online number since I don't use a cell phone and can't get a code to sign in and no luck at all with support. I'm literally freaking out about this. Should I just take my losses and just ignore this fucking website? But I'm worried about my data and if that crypto just sits in my portfolio what will happen?

>>24158654
stop using coinbase u fucking idiot. Jesus fucking christ. They lure people in with that referral shit, and you degenerate retards ignore all the warning signs.

Look at their subreddit. All the posts are complaining that coinbase froze their account.

>>24158726
Just curious though, will I be in trouble with the IRS in some off chance that BTC, ETH, or LINK goes to some insane number in the future if I never attempt to get back on that website again? I have a feeling it's a lost cause to even attempt to get back onto my account at this rate.

>>24158805
they AUTOMATICALLY report to the IRS. You are already on their 'to-audit' stockpile

better hope u didnt send crypto to a darknet wallet anon. Thats grounds for the police seizing all your assets

>>24158860
No, all of my crypto is just sitting stuck on the portfolio. Never had a chance for a withdrawl.

>>24158860
>darknet wallet
What's a darknet wallet?

>>24157135
>reddit
are these people new? Christ I got ratted on in 2016 to the IRS by Kikebase. They have a section in your profile for year end PL like a casino to make a 1099.

What should I use if not coinbase?

>>24157206
Binance is running away from law avoiding regulations every way they can. Do you think they would report anything to any kind of agency?

>>24157819
many of us im sure

>>24158899
a wallet that is discovered having been used to sell or buy illegal stuff on seized and examined dnms
just use fucking monero for dnms, its not that hard

>>24157135
>>24157206
Why the fuck are you people not using Coinmetro?

Coinbase is fine if you plan to just hold but of course a wallet is more secure. You won't be reported to the IRS unless you make large transitions just holding crypto isnt gonna do anything. If you are trading crypto they will fuck you over. Just holding NOTHING will happen.

I want to get my shit off coinbase but I have a hard time trusting myself and my ability to not fuck something up like that. I would probably kill myself if i fucked it up.

>>24157873
Binance US is a thing do some research kevin

>>24157924
I love tomboys

All these on off ramps rat. Coinbase is the biggest one. Anyone know how bad kraken is?

>>24159080
Why should I use coinmetro instead of binance for example?

>>24159156
Coinmetro does not

>>24159214
Kek nah

https://www.reddit.com/r/CoinBase/comments/jud602/00000_worth_of_crypto_account_restricted_coinbase/

LOL coinbase reddit is literally filled with cases like these.

DO NOT STORE ON COINBASE. DO NOT TRUST COINBASE

Cant tax me if i never cash out right? Also i only buy shitcoins the fuck is coinbase gonna say when all those coins are in the red on their end

>>24159210
- Lowest fees of any fiat on-ramp
- 24/7 support chat that replies in 5 minutes
- CEO is an honest white American man. He will respond to to any question you ask him on telegram
- Instant USD and EUR deposits
- No automatic reporting to taxman
- Just all around the most based exchange in crypto

You should use Coinmetro for fiat on ramp and trading the majors, then binance or uniswap if you need shitcoins.

Is there any reason to hate coinbase if you’re not trying to avoid capital gains taxes when you case out? I don’t see the issue. If you just transfer it to your wallet from there but don’t cash out, you won’t owe any taxes, right? Even if I do cash out, I don’t care about paying taxes. That’s real life. I already lose a bunch from income tax.

I sent 10k to coinbase which I bought years ago. Are they going to say that is all income to the IRS??

>>24159295
I actually do only shitcoins now so I will stick with binance for some time I guess. Gonna figure out the EU taxes at some point tho because it is gonna be needed.

>>24159227
https://www.youtube.com/watch?v=608zUNxLf54

The CEO talks about this very thing at 25:30.
"We don't automatically submit your data to any tax authority"

>>24159286
Anon... Crypto to crypto is a taxable event...

>>24157135
Coinbase to KuCoin to Exodus...how fuck Im I?

>>24157393
Agreed looking into this. Might do a $1000 in person trade

>>24159304
True, BUT say your investment mooned before the capital tax date. Even moreso say you were five days before the date and LINK went to $1000, since crypto moves so quick what couldve been a large cash out is now less than half PLUS you still owe (((TAX)))

And plus its just the principle of the whole thing. Where the fuck do taxes go? Im all for paying into the scam if I least see where its going but what the fuck. Since I live in california its mainly going to the homeless and to protect the outrageous property prices. Fuck them, escaping clown world is the only option. Good citizenry died a long time ago.

>>24159286
They track your myether shitcoin wallet address associated with your account

coinbase pro > coinbase

i hear kraken is better for burgers. im considering trying it soon

>>24159529
For real?

>>24157776
>ignorance of the law is no excuse
to prison you go

>>24157135
Eh idgaf desu I'm not even trading six figs worth just five

>>24159771
I don't pay my taxes and I get free housing and food? Based!

good fiat off-ramp for the UK, in GBP or EUR?

>>24160118
I have literally told you like 5 times in this very thread. They have GBP faster payments or whatever it is called and SEPA instant

coinmetro.com

>>24157135
From what I read the OP made over a million day trades, he's a dumb ass.
The IRS goes after every crypto to crypto transaction so the less trades you do the better.
If you just buy and hold you will not get fucked over by coinbase and the IRS.
Buy chainlink, hold for a year and then cash out your millions, you will not be taxed a cent because you held longer than a year.

>>24157873
>>24159093
not available in my state

>>24160243
If a nigga wants to trade from 4 am til 4 an 2 days later while high on meth and mdma let me

>>24159295
>Coinmetro
would you say its better than kraken for burgers?

>>24159729
yup

Which platform has the lowest fees?
Im using coinbase right now

>>24160379
I would absolutely say it is. I used Kraken and Coinbase many years but now switched over completely to Coinmetro.
I mean I would not be shilling it this hard without a referral link otherwise.

heres my route.
coinbase > coinbase pro > kraken/uniswap > exodus/metamask

am i retarded for doing all this?

>>24160436
Take a guess anon

>>24160516
What exactly is the point of doing that?

>>24157516
>just check their subreddit

>>24157135
Imagine when Safex hits coinbase

>>24160585
The memes write themselves
>>24157924

can someone tell me something? i have been sending eth from my metamask to coinbase and cashing out because i needed to pay some bills with my winnings. If i just quit coinbase right now and move to coinmetro or kraken, will I be alright? I only cashed out like $1k or so. Is there a way they can track where that eth was coming from and look into that metamask and somehow link it back to me and tax all those buys and sells on uniswap? Kind of freaking out here.

>>24159237
>Coinbase shill trying to get me to post my address publicly. Nice try. Tell your manager to unrestrict my account. The financial ombudsmans office has been notified. The court will decide whose the criminal, not the ‘Coinbase community’ (LOL)
This guy is an obvious tard

>>24157800
Yep this. I know some retards who got slammed because they didn't realize rent money is supposed to be reported

>>24160817
>I know some retards who got slammed because they didn't realize rent money is supposed to be reported
Wait what? Landlords that didn't know rent money (aka income) was supposed to be reported?

Does anyone know if crypto.com reports to IRS?

>>24159286
>Cant tax me if i never cash out right?
This. Why would I ever cash out all my linkies? I'll just live off of staking.

>>24160930
I'm also curious about this. Their ToS says that they have partnered up with platforms that can help customers calculate crypto tax, so it seems unlikely that they would contact the IRS for you.

>>24157800
>as it’s not over $10k you’re fine

Checked but $10K what? $10K per transaction? Per week? Per month? Per year?

>>24158961
This I haven't transferred any money to it but I just wanted to something to buy and sell? Honestly I don't have the balls/knowledge to avoid the IRS.

>>24159295
Does coinmetro have a withdrawal limit?

>>24161928
My guess is 10k in profit but who knows

>>24161928
10kikes in the IRS who want to fuck you over because you tried to make it

>>24161928
per year mate
if you're making 5 digits of profit off crypto just pay the kikes
also, I've hear it's more like $30k before they care but why push it

>>24162613
Feels good to be a poor fag for once :')

>>24162044
500k EUR per month seems to be the default and then I'm sure you can raise it if needed

>>24162782
"mo money mo problems" as the concrete jungle people say

I'm an autistic college retard and my Dad did my taxes but he didn't know I had crypto through Coinbase. I made a few trades and little bit of profit (like a couple hundred dollars) from 2019 until now, and cashed out a bit here and there to buy stuff for school.
Is the IRS really going to come after me and my pathetic chump change?

just pay your taxes retards. capital gains is 15% christ. is not paying 15% really worth all of this hassle to avoid ((Them))??? You cannot avoid them so learn how to play the game.

Learn how to use tax shelters effectively. Just form a fucking 501(c)(3) and funnel your crypto through it.. Takes like 5-10 minutes to form one. use legal zoom to deal with all of the paperwork. Further, If you're cashing out crypto in your own name, you're NGMI..hell even buying shit in your own name is retarded these days if you have $$$. Learn how rich people shelter their cash.. We are getting sick of spoon feeding you retards.

What's a good exchange for those of us in jew York? Almost every other exchange I used had to shut down service for us

>>24157346
doesnt this defeat the whole purpose as coinbase now has your information and knows the addresses of whichever wallets you sent your coimbase purchases to?

>>24163078
Realistically, no. But it’s still good in case your audited in a few years you need like 5 years worth of info or Seth Goldberg will suck Jamal on your anus in prison

>>24163279
Very few people go to prison for tax evasion. One of my coworkers owns 80k to the IRS and is on a payment plan. They’d rather rape you with penalties and interest than spend taxpayer money to send you away to prison where you can’t earn and pay it back.

>>24163078
doubt it fren. i am/will be in the same boat too. if you're under 10k in profits then general rule is don't sweat it. we'll be fine fren.

>>24163279
>>24163391
>>24163424
Thank goodness. I've been stressing out over it lately.
Is it okay for me to report my gains from 2019 in my taxes next tax season? I'm going to try doing my taxes on my own with the help of my Dad instead of letting him handle everything.
What's my best course of action do you think? I don't want to fuck with the IRS but I'm absolutely retarded when it comes to handling tax and now I'm scared they'll notice a discrepancy for last tax season. I just wanted a little bit of money so I didn't need to wage for school stuff and food.

>>24163424
based dapper fren

>>24163095
I bought gold N silver with btc n sell for cash

I've used coinbase binance n uniswap
Then again I've sold droogz on eBay so I have bigger possible problems

I figure if nigs can burn the cities down fundings for law enforcement are not a priority anymore

YOLO let's get money like they do.

>>24163496
gotta look good for the glowie-joeys

>>24163677
kek'd and fucking checked

>>24163478
Just go to an accountant for next tax season fren

>>24163807
i wasnt sure if i wanted a pair of black or white high top cons but after seeing this semen demon I'm gonna go with black

Pic related from leddit thread LMAO

>>24157393
Monero is a honeypot, use 0x MR. Also flame exchange has no kyc

So if you trade through uniswap but have coins held on a coinbase wallet is that taxable or is it only taxable when you withdraw into USD via coinbase?

>>24164638
google capital gains tax
as far as I know you're taxed on when you sell it, like property?
so when exchange crypto for USD you would be taxed on that transaction

>>24164672
yes but what i mean to say is changing one shitcoin to a stable coin like USDC. Not directly to USD.

>>24164962
I don't think that counts as a sale
not yet as per how the US views things currently

>>24164276
fuck you
quit spamming
https://www.reddit.com/r/CryptoMoonShots/comments/i27fhk/0xmonero_summary_of_findings/

>>24159428
Sending funds between wallets is not a taxable event.
Cashing out, trading crypto for crypto, or converting coins is taxable.
Also airdrops are taxable and they are considered income not capital gains

>>24165045
honestly that should then mean we can just keep stacking gains until we ultimately withdraw via coinbase.

>>24165108
>>24165112
welp, guess reporting taxes is necessary now.

>>24164962
Exchanging any shitcoin for any other shitcoin is a taxable event, period. Doesn't matter if USD isn't involved, you still owe tax (in USD) on any realized gains from the exchange.

>>24163478
>Is it okay for me to report my gains from 2019 in my taxes next tax season?
No, you'll need to submit a revised tax return for year 2019, separate from your 2020 return. Trying to report 2019 trades on your 2020 return is a great way to get fast tracked for an audit.

>>24165136
Yes bottom line is don’t be a nigger. You can’t avoid taxes. And if you do avoid it, it will bite you in the ass for a minimum of 10 years of liens and other penalties up to 250k or jail.
Paying taxes is a good thing as you’re in a position to do so unlike broke nigs that don’t even qualify to be taxed.

>>24165174
do you only get taxed if you make gains?
like if i need to liquidate some cash will i get taxed on that if i didn't make any gains on it?

>>24165242
Only on gains.

>>24165242
No. If you bought ETH at $400 and you sold it at $400, you owe no tax. And if you sold it for less then $400, then you have a capital loss and you can use some of it to offset your regular taxable income from your job (like $3.5k is the limit, I think), and the rest of the losses carry over to next year to offset any gains you make in 2021.

>>24165174
but why would ever make enough that tax matters when trading a coin for a coin like on uniswap?
you're trading equal values the gainz from holding after

>>24165303
>you're trading equal values the gainz from holding after
>you're trading equal values
You bought shitcoin X for $.01 equivalent. You sell it later for $.02 equivalent. You now owe tax on the $.01 of gains on each token you sold. Doesn't matter what you sell it for, USD, shitcoin Y, whatever, doesn't matter what the price of the thing you buy with it is. If it's more valuable when you sold it than when you bought it, you owe tax on that differential.

>>24165360
yeah.... you're not taxed on the actual transaction of swapping coins, only when you finally take profit

>>24164672
cuck

>>24165215
Noted, thank you fren. I will be a good boy from here on out.

>>24165296
So what about me, I turned 2k into 20k this year which were gains i used to make other trades but I then lost it all so I'm back at 2k. are those gains now null because they turned into losses?

>>24166877
They should, but remember that losses don't carry over by year. If you make it big in December and lose it all in January, the IRS will rape your ass, just as they did to many in 2017-2018

>>24165551
lmao enjoy prison newfag

>>24166926
luckily all of this is from ~March to now.
I'm rebuilding and plan to pay all taxes
I bought about 2k usd in 2017 and never touched it then started using that 2k in March. its going to be a clusterfuck when i file

>>24158726
I got all the Coinbase Earn free dough and sent all of it to my other wallets, gotta milk these idiots. It's nice bonus since I am poorfag student.

>>24157135
is there literally any way left this day in age for a USA citizen to buy crypto with USD without being cucked out by an exchange???

>>24157875
its only a matter of time youre stupid if you think your cucked shithole wont copy the US rules to get their taxes

>>24165551
Retard

AHHHHHH HELP ME BIZ BROS
I AM NOT A BURGER, WHERE DO I PUT MY FIAT TO EXCHANGE AND HODL LE BITCOINS AND LE ETHERUMS AND LE SHITCOINS
WHERE I CAN ALSO CASH OUT AND GET MY FIAT BACK TO MY BANK

>>24157135
>fuck those niggers they glow in the dark just run them over

>>24157135
what's the best exchange/app to use for crypto?

>>24157875
>mfw not living in makeitugal