Australian banks onramp

[Anonymous No.55872981]

How the fuck do you onramp with aud now? every fucking bank is blocking transactions and i called a bunch of them today and they all said transfers to crypto exchanges arent allowed, (one bitch sounded so fucking smug when she said that too, probably a poorfag).
Do i really have to resort to binance p2p? the rates on there are dogshit and ill probably end up getting scammed.

[Anonymous No.55872997]

>>55872981
Keep pumping until they completely close you off or shut off our exchanges... It's going to be fucked

Can't chuck in 10k a month into crypto because it's "le scam" but... chucking 10k into sportsbet or the casino is ok fuck offfffff

[Anonymous No.55873004]

Btcmarkets has no issues

[Anonymous No.55873019]

>>55873004
sending fiat from which bank?

[Anonymous No.55873040]

no issues from ubank (nab owned)

[Anonymous No.55873075]

>>55873040
well im doing this via a company (for tax reasons) and ubank only offers retail accounts, so fuck me lol

[Anonymous No.55873084]

Seen some crypto atms popping up recently if you want to try that

[Anonymous No.55873085]

>>55872981
I know people shit on etoro but no idea why, it has no ongoing fees for buying stocks or account fees.

For eth, tron and cardano you get 75-90% staking returns, no transfer or withdrawal fees and interest on cash held (if you have over a certain amount in your portfolio).

Setting up an account is easy and you can transfer immediately with visa (although it's better to do it through wire transfer). Banks won't block you either.

[Anonymous No.55873092]

[Anonymous No.55873101]

You will not be scammed faggot, you are not the first one to try out p2p. Why are first world niggers so afraid of this. You trust your retarded banks which report you btw instead of implementing crypto the way it was mean to be implemented by bypassing banks altogether.

[Anonymous No.55873115]

>>55873085
what is this spread lol

[Anonymous No.55873229]

>>55873115
Spread rate is the only shit part.
If anyone knows places help a fellow ausfag out.

[Anonymous No.55873282]

>>55873019
Macquarie and St George

[Anonymous No.55873470]

>>55872981
Independent Reserve hasn't given me any issues, last time I onramped would of been three weeks ago

[Anonymous No.55873485]

I got a message from CBA saying they're limiting people to 10k a month into crypto exchanges, that's set to come in from 14/09. What did they say exactly when you called CBA?

[Anonymous No.55873553]

>>55873485
i didnt bother because i need more than 10k limit. They state on their website "If you are a new customer, the limits will be effective from 29 July 2023."

[Anonymous No.55873559]

>>55873470
from which bank and how much? the exchanges arent the issue, its the banks.

[Anonymous No.55873580]

Yes you have to dca aud into an exchange now if you wanna be able to catch a bottom and buy a big amount at once

I transfer $500 to independant reserve every week and I’m waiting for Bitcoin to go down to 4 digits again which could take another 2 years of false breakouts and dumps before all the moonbois from 2021 finally give up

It’s the only way around the 10k monthly limit thing

Also lmao at you if you’re wanting to buy the dip right now with a large amount of money. We’re going down to 4 digits again for bitcoin, blackrock etf is gona be a fail, the next halving is gona be a fail, it’s gona make the 2021 moonbois finally give up

Next bullrun is 2028-2029

[Anonymous No.55873608]

>>55873580
i had 7 fig in stables last year but bailed with all the shitfest after ftx lol. 10k is peanuts

[Anonymous No.55873624]

>>55873608
Didn’t leave any in USDT/USDC?

[Anonymous No.55873646]

>>55873624
no, both had depegging events and i wasn't sticking around to find out if some more bs was going to be uncovered lmao. I saw no point is eating the stable risk exposure if i wasnt planning on buying crypto any time soon.

[Anonymous No.55873655]

>>55873646
I mean that stables risk is still there no matter what, it’s just something you have to accept

That said you could just open a bank account with a bunch of different banks at spread the money out and start depositing into exchanges that way

Either way like I said I think Bitcoin is gona go into a doom phase for the next 2-5 years at least so you have no rush

[Anonymous No.55873684]

Uh sweetie this is for your own good? Use your money on to buy something real like property, not dangerous crypto scams.

[Anonymous No.55873694]

>>55873655
yeah but the risk is time based. the longer you hold them, the greater the risk that some adverse event occurs during the time you are holding, which is why i chose not to hold them until i actually was interested in crypto again.

CBA is the most flexible/transparent ive seen in this policy, most other banks dont allow anything, or at least told me so.

Some people say they get transfers through (though im guessing really small ones, nowhere near the size i want to do) but Im not gonna go through the pain of setting up a company bank account after they told me they would block these kinds of transfers just to pray that they might not block them.

Guess i just have to do p2p and eat the shit rates.

[Anonymous No.55873723]

>>55873694
Thing is if your serious about crypto you should be expecting at least a 30-200% return to a 100x. In the grand scheme of things>>55873115 shouldn't matter.

[Anonymous No.55873724]

>>55873694
Yeh it’s kind of fucked either way you put it

I mean I’d help, but I probably can’t…. Even if we met face to face and you sent me money to buy for you and send you the btc for a %, I can’t even do that, because I get on the hook with KYC for 100% of it in the eyes of the ato

[Anonymous No.55873850]

>>55873723
yeah fair, obviously id rather find a better solution if it exists though

[Anonymous No.55874024]

Cant have the goyim evading capital controls in this shithole failing country can we now

[Anonymous No.55874071]

No issues with onramping here, my dilemma is more to do with how the fuck am I going to sell when the time comes and not lose a good quarter of my profits to CGT?

If I earn 150k from a job and then sell 200k worth of crypto that was bought for 20k, that's 180k worth of profit. I can use the 50% rule so only 90k is subject to tax, but of that 90k I'm gonna lose about 45% of it (~40k). How the fuck are you guys getting around this?

[Anonymous No.55874089]

>>55874071
Couldn't you just upload to a paper wallet, withdraw through a bitcoin atm, then go have gamble at the local rsl and keep your "winnings" tax free?

[Anonymous No.55874106]

>>55873580
You are going to have all your money disappear, lmao retard.
Dca and send to a cold wallet is as good as it gets
Leaving that much on exchange is retard tier
You think BTC goes to 4 digits and 90% don't go bankrupt?

[Anonymous No.55874139]

>>55874024
So I have been thinking about this for a while now, obviously you want to be in btc so far in advance that you avoid this but I've been thinking of what kind of rhetoric could be used to make the banks and politicians look like shit and obviously it would have to be simple rhetoric because you want it to catch on and you want normies to catch on and repeat it.
In any case the reason for this is I think people and countries that have lots of aus dollars or USA dollars are going to want to spend those and get out of them by either buying land or stocks in the dollar countries and we want them going into crypto.
Conversely, I think those of us with no inside information can guage at what stage of this process we are at based on how hard it is to buy crypto in these countries as the state won't be openly admitting to implementing capital controls.

[Anonymous No.55874162]

>>55872981
can you retards stop using boomer banks and complaining that they are shit?
there are a lot of online banks that don't give a fuck where you send your money

[Anonymous No.55874191]

>>55874089
bitcoin ATMs still do KYC lol

[Anonymous No.55874193]

>>55874071
thats why i use a company, you pay company taxrate and then can distribute dividends out to yourself over time and get franking credits. when you get dividends it essentially converts the company tax rate to your personal one. So you can make a lot of profit in one year but distribute it over multiple years to even out the income and pay lower tax. ofc if youre already in the top bracket it wont help, but if you have close family members in lower tax brackets (who wont fuck you) you can distribute dividends to them and they just send the net amount after tax to you.

[Anonymous No.55874290]

>>55874089
Are there Bitcoin ATMs that don't do KYC? The other issue that I see is I don't exactly trust that the win rate trying to keep it by gambling will be favourable.

>>55874193
Interesting. This seems more bulletproof, probably a pain to set up though. Truth be told I don't have all that much in crypto (nowhere near seven figures at least) so I imagine that I'll likely be holding on for a much longer time yet. Good to know that this sort of option is available though.

You've still gotta pay SOME tax on fully franked dividends right? So if your company is paying tax on the profits and then your franked dividends incur a little bit of tax penalty at a statutory rate of 30% or however much you'll lose based on your income, are you coming out significantly advantaged? NZ won't help me here since they treat profits from an asset sale pretty much the same as we do in Aus, and no 50% rule on CGT.

What about the Philippines? Have the potential to shift assets there, sell and face only a flat 15% CGT, then move it back to Aus (somehow).

[Anonymous No.55874357]

>>55874290
The company setup just allows you to spread profits over multiple years.

Say the company makes a profit of $1m in a year. You would have to pay 250k (25% company tax rate this year) immediately. But then say i pay out a dividend of say 45k (after tax, actual money bank to bank) to a close family member who has 0 income. The 25% company tax that was originally paid gets "refunded" as a franking credit, so the person actually gets 45k/(1-0.25) = 60k, and pays regular tax on that which comes out to approx 10k. So after all is said and done, they can send you ~50k, which is an effective tax rate of 16-17% (i.e. that persons real tax rate). In the end the company tax rate is irrelevant in how much you receive once you do distributions.

You could keep paying out that dividend every year for the next 20 years and in the end, youll end up with $1m minus 16% tax, rather than minus 25% company tax, or minus 45% if you had done this all in your own individual name and had to pay the entire tax on the year you earnt it.

I do pay an accountant to organise this shit for me though, so its not worth for smaller amounts. not sure how difficult it would be to file this stuff yourself with the ato.

[Anonymous No.55874393]

>>55872981
create a business account on advCash
you're welcome

[Anonymous No.55874394]

>>55873580
>btc
>4 digits AUD
You have to be completely fucking retarded to think thats ever happening your lifetime.

[Anonymous No.55874578]

>>55872981
Bro I haven’t had problems with commbank and swyftx

[Anonymous No.55874651]

>>55874290
Good point, but you see anon what you do not do (because it is illegal) is put all the money into the machine, hit collect and then claim it as a gambling win and pay no tax. Definitely DO NOT do that.

Friendlyjordies did a video on how to launder money this way, so do not watch that video. I'm telling you not to do this because the local employees will not give a shit if you do and won't stop you.

You should also not use a crypto wallet to buy bullion and trade it in for cash. Make sure to report every cent of earnings to the ato and pay your taxes.

[Anonymous No.55874695]

>>55874578
how much are you sending?

[Anonymous No.55874735]

>>55874357
Good stuff thanks for laying it out for me man. Makes more sense now.

Yeah going to an accountant seems essential once you're dealing with a high enough amount for this route to give you a significant advantage. Definitely don't think I'm at that point yet.

>>55874651
Ah gotcha, now I know exactly what not to do. I'll do my best to avoid watching that video as well, that sort of knowledge isn't worth knowing.

[Anonymous No.55875095]

>>55872981
You can make some deposit on CryptMi, then convert it to any coin of your choice

[Anonymous No.55875503]

>>55874106
Saving on an exchange is a stupid act
>>55875095
Do they still offer zero fees on all transactions?

[Anonymous No.55875533]

>>55873723
Isn't that outrageous, or do you plan on getting it?

[Anonymous No.55875734]

>>55875533
Just thinking about that now desu. Bitcoin, eth, and tesla all have a consistent history of mooning, unlike shitcoins that hit a once off ath and then dump because they're scams.

I will invest at least 10% into them, definitely tesla and probably eth, but the truth is I don't know if I could sleep at night and go about my everyday life without checking my screen every five minutes if I went all in. My current investments have already returned 10%, heading towards 20-25%, so I don't know yet.

[Anonymous No.55875933]

>>55875503
The zero fees and cashbacks offer are the reason why I'm using it

[Anonymous No.55876504]

>>55874162
Fintechs are the best at the moment
>>55875933
It's best to take advantage of those offers before they stop it

[Anonymous No.55876520]

>>55872981
what about offramping? who wants to buy your videogame money in exchange for real neo-shekels?

[Anonymous No.55876545]

>>55876520
banks dont reject money sent to them from exchanges, at least not yet.

[Anonymous No.55876938]

Mine don't buy. Your bank won't stop you buying GPUs from pccasegear.com.or the other Chinese run resellers that litter our lands. Imagine it right now you could be sitting pretty with bags of mined kaspa or dynex righ and if so inclined sell it freely on tradeogre or just hodl for the bullrun.

[Anonymous No.55877676]

>>55874290
>What about the Philippines? Have the potential to shift assets there, sell and face only a flat 15% CGT, then move it back to Aus (somehow).
moving assets outside of australia is a capital gains event
if you want to avoid tax the only legal way is to hold crypto in a SMSF and wait until you are in pension phase to sell. this is following the current rules which will probably be changed before we retire though

[Anonymous No.55877701]

>>55874393
>just store your money in Belize bro
lmao

[Anonymous No.55878731]

>>55876504
No doubt about that, so far I've been able to on-ramp on Tap to crypto hassle-free.

[Anonymous No.55879144]

>>55874651
>Friendlyjordies did a video
name of the vid?

[Anonymous No.55881228]

>>55876938
Price prediction for Kaspa next bull run? I'd be stacking alongside web3 alts like Arweave, Sylo and Flux for the long term.

[Anonymous No.55882345]

>read this thread
>go buy 2k ETH on coinbase
>nothing stops me
You can open a new bank account in an afternoon. Your laziness is not an excuse for being such cucked faggots.

[Anonymous No.55882473]

>>55879144
How To Be A Dumb Faggot Who Goes To Prison

[Anonymous No.55882482]

Why is Australia so cucked?

[Anonymous No.55882501]

>>55882482
We are a testing ground for extremist left wing policies. Coming to a country near you, tobacco taxed out the ass!

[Anonymous No.55882504]

>>55874578
Neither have I except this past month. Now commbank is screwing me over and holding my funds for 24hrs whenever I want to make a deposit

[Anonymous No.55883293]

It’s honestly surreal I didn’t get JUSTed and lose everything. This is just another one of those examples where it makes me think “damn I can’t believe I made it out without losing”.

I was transferring my entire savings to and from Binance ($110K) using payid pretty regularly a few months ago. I’m with ANZ.

[Anonymous No.55883296]

>>55872981
I've been sending $4k-$5k every month from commbank to Kraken with no issue. What did you do to get flagged?

[Anonymous No.55883322]

>>55872981
I have resorted to Swyftx with Commbank. Used to be instant but now theres a 24 hour hold even if its with Osko or payid.
Are there any instant methods?

[Anonymous No.55883829]

When is chainlink hitting $1000 bros? I just want to leave this place. Go on a holiday to a nice country with validly ordained priests and the traditional latin mass. No sacraments no holiday.

[Anonymous No.55883942]

>>55881228
100x from here. Insane not to have at least a small bag given the quality of the project.

[Anonymous No.55883948]

>>55883296
The limits 10k(for now)
so you're fine

[Anonymous No.55883958]

>>55883948
Even after this cycle is over I am permanently keeping some profits in crypto or at least fiat on exchanges so I don't have to mess around with banks anymore if crypto continues to be a thing.

[Anonymous No.55884683]

It’s not just crypto, they concerned about us paying in cash. So keep paying in cash wherever and whenever you can.

[Anonymous No.55884698]

>>55884683
When a bushfire hits your town and takes out your electrical grid, you’ll know why cash is king.

[Anonymous No.55884707]

>>55873085
Etoro is cfd only isnt it? Atleast with stocks it is, which means you dont own any of the stocks you boughtx just vehicle that behave the same, bet they do they same with crypto

Its an israeli company so beware

[Anonymous No.55884720]

>>55884698
Make sure you own a distiller (under 5L -anything over 5L requires registration with the ATO or it’s a criminal offence). You won’t be destilling spirits Anon, you’ll be distilling water to live another day.P

[Anonymous No.55884731]

>>55884707
They straight up tell you how they are going to Jew you with their spread.

[Anonymous No.55885164]

>>55873559
anz, proly 400 or 500 iirc, most ive thrown through it at a time would prolly be a grand

[Anonymous No.55886225]

>>55873580
>reddit spacing
>can predict markets 5 years ahead