cashing out with Coinbase - do they restrict your account with make it tier deposits??

[Anonymous No.57562641]

I am basically ready to cash out after almost 10 years. UK anon.
My coinbase account is basically 10 years old. i had deposited loads of times through them years ago. i have also cashed out smaller amounts here and there and never had any issue at all.

However, i'm sure if i send them 800k or 1.8m or whatever be it, in LINK tokens or otherwise, they will have some bullshit.

First, i wont be able to pay my fucking taxes unless i can actually cash it out - so i hope they dont ask for it.
I also have not had to work for years thanks to my savings and some smaller cash outs and living in a lower cost of living country. but i am going back to UK for a while and will cash out.
I do have all the payslip from the era when i made my deposits to coinbase though. I guess i can also show my trade history from the exchanges i bought LINK on back then.

[Anonymous No.57562644]

I'd rather do this ahead of time but i have a feeling it wont matter. once i deposit a large amount of tokens they'll probably restrict me. or maybe my account age and history will help there?

Any anons with advice or who went through it - fucking appreciate any tips. What are they realistically going to ask for?

[Anonymous No.57562653]

>UK anon
>pointless shitty thread
Cool story muhammed

[Anonymous No.57562664]

>>57562641
Idk man I like chocolate more than strawberry but both are ok

[Anonymous No.57562676]

>>57562641
yaaa youre going to get rimmed so hard

[Anonymous No.57562677]

>>57562641
they may lock your account for a long time and ask for proof of funds. happened to some anons here but i dont know if they had funds from shady origins

[Anonymous No.57562678]

ukanon here. let coinbase know ahead of time, and they'll raise your withdrawal limits. I've cashed out 1.2mil no sweat. do it in small chunks if you're nervous, 100k batches. what bank do you have? barclays were fine with it for me

[Anonymous No.57562681]

Coinbase won't care, hell even your bank wont care (depends what bank ), they will just tell the tax man and that is who you will have to answer to.

[Anonymous No.57562684]

>>57562678
did you talk to barclays beforehand? i dont think op's bank will accept the transfer without being in touch first

[Anonymous No.57562694]

>>57562684
yeah i just called them. the guy didn't give a fuck. coinbase are FCA regulated and all good in the UK. You just need to file for, and pay, CGT for that tax year via a self assessment.

[Anonymous No.57562698]

>>57562678
This

Just let everyone involved know beforehand, if they make trouble, go somewhere else (nak)

[Anonymous No.57562704]

>>57562698
exactly. barclays are still CB friendly, as are HSBC. we are little fish in the grand scheme of things, people move 10s of millions around everyday

[Anonymous No.57562764]

>>57562678
Im probably gonna sign up for coinbase premium account to get better support.
im not worried about my bank. they are cool. im worried about coinbase doing all the AML and locking me up.

>>57562694
exactly. banks in uk dont give a fuck if its from coinbase. i have withdrawn from coinbase loads of times. im worried about COINBASE themselves, as they are the first line expected to do the AML.

i guess i just need to call coinbase and ask

[Anonymous No.57562809]

>>57562641
Why don't you cash enough out to pay taxes first and then cash the rest out after. Do 2 withdrawals spread apart

[Anonymous No.57562816]

>>57562641
>>57562764
Yeah I use coinbase one. It's good. Helps you out I have not had any issues. But if I were to cash out that much into my bank I'd definitely let both coinbase and my bank know ahead of time otherwise its gonna get wonky

[Anonymous No.57562818]

>>57562641
UnitedcucK

[Anonymous No.57562830]

>>57562816
im worried mostly about coinbase. my account with them is basically 10 years old... im sure so many regulations have happened since then.

Like, i deposited LINK form binance maybe mid 2022 last. it went fine. however hasn't the travel rules shit began SINCE then? im even worried a deposit from Binance full stop is going to be hard now...

have you deposited anything from binance to Coinbase lately? did you have to do Travel Rule stuff and confirm source of the wallet etc?