[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 41 KB, 512x353, 1686610275821246.jpg [View same] [iqdb] [saucenao] [google]
58190951 No.58190951 [Reply] [Original]

>cashout crypto to bank
>bank account closed + they seize my funds until i can prove its legitimacy

>> No.58190965

>>58190951
How much?

>> No.58190987

>>58190951
many such cases

>> No.58191078

you are supposed to call up your banker and tell him in advance what sum you plan to deposit...

>> No.58191084

>>58191078
How am I supposed to call an online bank?

>> No.58191093

>>58191084
Dont they have a customer support line?

>> No.58191123

You kept records and paid taxes right? If you didn’t not only are you going to pay taxes using a zero-cost basis, you are going to get flagged for money laundering.

>> No.58191145

>>58191123
What if the money your getting out is to pay taxes

>> No.58191280
File: 783 KB, 672x668, 1671117899820323.png [View same] [iqdb] [saucenao] [google]
58191280

>>58190951
>>58191084
>>58191145
You guys who never pay taxes on your crypto and then decide to cash out into your KYC'd bank account blows my fucking mind.
I've been paying my crypto taxes since 2017. Have NEVER. EVER had an issue. And I've deposited over 200k in random lump sums. Never had to call or anything.
I also subscribe to coinbase one so that might help? But even before then I never had an issue.
Some people are just not too bright I guess

>> No.58191333
File: 108 KB, 1280x720, shotcaller.jpg [View same] [iqdb] [saucenao] [google]
58191333

>Be me
>European
>Grand mutter gives me a 500€ bill for Easter
>Try to buy second hand ipad but the store doesn't accept it
>Go to the bank to put it into my bank account and buy it with debit card
>First time I actually got inside a bank
>Very nervous
>Teller asks me a lot of questions about the 500€ bill
>Get more nervous
>Accepts the bill
>Next day I got a call from the police department asking me about the 500€

It's never gonna end, right? :( I wouldn't last one day in prison.

>> No.58191339

>>58191280
>And I've deposited over 200k in random lump sums
when you deposit and cash out to/from the same bank they dont care

>> No.58191342

>>58190951
You fucked up. What you're supposed to do is
>swap to xmr
>buy gold from xmr 4 gold
>sell gold to boomers or pawn shop at melt value
Boom, clean cash. It's honestly a skill issue with most of you.

>> No.58191344

>>58191333
>Next day I got a call from the police department asking me about the 500€
lmao the state of eurocucks

>> No.58191348

>>58191333
This didn't actually happen, did it?

>> No.58191352

>>58190951

MUMU + PAW card... I didnt have that problems

>> No.58191354

>>58191352

You´re the boss, ty anon

>> No.58191376

>>58191342
What if you get fake gold

>> No.58191377

>>58190951
Use a bank that actually supports Crypto. If they exist in shithole fucking Canada they must exist in other countries.

>> No.58191380

>>58191348
no, the bank doesnt notify the police but The Central Office for Financial Transaction. they receives hundreds of thousands of those reports each year

>> No.58191389

>>58191333
>Grand mutter gives me a 500€ bill for Easter
>Next day I got a call from the police department asking me about the 500€
is your grandmother part of organized crime group?

>> No.58191413

>>58191078
>>58191093
I did that and they still blocked my transfer until I provided a bunch of documentation. The jeet on the support line doesn't have any power over such things. The transfer can be allowed in theory but then still blocked because it raises red flags in their algorithm.

>>58191280
I paid taxes and they still block my transfers. I've had several bank say outright that crypto-related transactions aren't allowed at all. And they still block my transfers at ones where it's "allowed".

>> No.58191428

>>58191376
Then that person has burned their reputation. Rep is everything in the decentralized free market.

>> No.58191458 [DELETED] 
File: 48 KB, 1280x720, 11509879.jpg [View same] [iqdb] [saucenao] [google]
58191458

>>58191093
Have you tried to talking to some robotic street shitter in Bangalore called "Alan" that doesn't know what a bank or money is?

>> No.58191507

>>58191342
>You fucked up. What you're supposed to do is
>>swap to xmr
>>buy gold from xmr 4 gold
>>sell gold to boomers or pawn shop at melt value
>Boom, clean cash. It's honestly a skill issue with most of you.
>>58191376
>What if you get fake gold
if you really are afraid of this just pay the premiums and use apmex, jm, sd, etc. they all take crypto

>> No.58191606

>>58191078
LAND OF THE FREE BECAUSE OF THE BRAVE

>> No.58191647

>>58191333
kek thanks for the laugh zoomie
hope u get your ipad

>> No.58191668
File: 60 KB, 960x680, Larry-Silverstein.jpg [View same] [iqdb] [saucenao] [google]
58191668

>>58190951
>he thought he could cash out

>> No.58191801

Bullshit. It's 2024. Unless you're cashing out from Indonesian exchange run out of a mud hut, you're fucking lying

>> No.58191815

>>58191428
>Then that person has burned their reputation. Rep is everything in the decentralized free market.
selective scams are a thing, they keep up their part of the bargain.. unless its big opportunity

>> No.58191853

Seriously though. how do I calculate taxes when trading from one crypto to another when they're of equal value and actually lose money on transaction fees? Shouldn't I only be required to pay taxes if I sell POOPDOG for USDT?

>> No.58191869

>>58191853
Just rough estimate they won’t dig

>> No.58191879

>>58191801
Nope. I had two banks tell me they'd close my account if I kept doing transfers from crypto exchanges. One other that repeatedly blocked my transfers asking for more documentation each time. Another one that's been fine so far but I refuse to deposit more than a few grand into because of all the bad shit I've read about them. Another bank that asked for a record of all of my trades and all of my crypto addresses in order to open an account with them (which I refused). I use Kraken.

>> No.58192647
File: 20 KB, 500x375, inbound7920598296406981288.jpg [View same] [iqdb] [saucenao] [google]
58192647

>>58190951
It's not new, so it's better to use Fintech services like Tap Fintech for smoother transactions. Their debit card has made my daily needs really convenient. Be wise, anon.

>> No.58192795

>>58191123
This is not necessarily true and I know this from experience. The zero cost basis is true however.

>> No.58192803

>>58190951
>he thought he could cash out
lmao

>> No.58192821

>>58192795
What is zero cost