/biz/ - Business & Finance

[Anonymous No.21010752]

How do you buy obscure coins that aren't on exchanges?

Banks stop fiat transactions to known exchanges, I dont even want to try sending it to some cryptopia tier shithole. I would have cops hitting my door thinking im a fucking drug dealer laundering money or some shit.

Also once you cash out, how the fuck is one to asume that the taxman is going to accept the buy and sell orders from some dodgy ass website?

>so anon, where did this money came from?
>"I first bought BTC in Coinbase Pro, then sent this money to "enter dodgy exchange here" from my Bitcoin wallet, then bought XSN or whatever the fuck random ass coin, then staked it in some software that "stakes it" and generates "interest" similar to "mining", then I sent this back to the exchange and exchanged it for BTC, then sent this BTC back to Coinbase Pro and exchanged it for €"

Just lol. They will have no fucking idea what im talking about if they ask and may get in you trouble. Also all big exchangers now use Chainalysis so you may get a false positive when you send the BTC from the "cryptopia-tier" exchange to Coinbase/Kraken/Binance which would block the transaction and you would be stuck in a limbo of a legal clusterfuck where you have to prove that the transaction isn't some sort of laundered money as more and more mixed transactions (as one that would happen with an exchange withdraw) are giving false positives. See the guy that got cucked by Binance when he sent a transaction from his Wasabi wallet.

Honestly this is a giantic clusterfuck, the whole altcoin world is. The more exotic you go, the more trouble and grey area for the taxman to fuck your ass when you try to cash out. I can't believe you memed Link into Coinbase to directly buy from there rofl. But any other more obscure coins... forget it. Unless you can refute what I said.

[Anonymous No.21010790]

>>21010752
>How do you buy obscure coins that aren't on exchanges?

Fuck, what I meant by this is "obscure coins that aren't on known exchanges".

[Anonymous No.21010862]

>>21010752

When, not if , DEXs start to take off. You can probably buy all your shit coins there. Also shout out to Stakenet, my small cap play for a 100x.

[Anonymous No.21011851]

>>21010862
You still have to buy BTC in a non DEX with fiat.

Than, im not sure if the taxman will take trades from a DEX as something they can trust. I think these fuckers are going to narrow it to the same regulated exchanges and treat everything else as potential money laundering shit even if we are inocent.

[Anonymous No.21011945]

>>21010752
>staking and defi loans are definitely legal grey areas right now. As for buying coins on random chink exchanges you can get a csv of your trade history if you want to report that, or just guess how much you think you paid

[Anonymous No.21012463]

You guys are all worrying about nothing. I sooke to a tax attorney last week. It doesn’t matter if its a Dex or a Cex.

>Keep track of what you bought
>Keep track if the trades
>wheb you cash out pay the appropriate amount in tax (based on if you held coin for over a year and your income beacket)
>staking and mining count as income at the value the coin/token was when you received it.

Its not hard, its not “shady” quit giving yourselves excuses to not go make money. Pathetic, seriously.

[Anonymous No.21013122]

You can buy 0xMonero on uniswap, saturn, logicdex, resfinex, flame exchange, BambooRelay