Last Bullrun cashing out was hard. First you had exchanges locking up new accounts from Being created, and then accounts had like 100-1000$ per week limits for months. Then we also had the issue of Banks locking accounts with deposits from crypto exchanges.
Im trying to make an account on them all now and get limits raised. Got my coinbase raised to 100k per day limit. Made an account on Coinfloor and did a 2k deposit(UK exchange) Thinking of signing up to Bitstamp, Gemini and Binance.je
Any other services that may be vital come time to cash out 30k Link? Im also wondering what banks to use etc so they dont fuck me And lock the account if i deposit 100k even if im going to pay tax
Getting a high coinbase limit, and properly verified KYC'ed accounts there and a few other large exachanges should be enough.
You don't have to cash out-out, anyway. Just well to fiat when you think is right and can withdraw over time (or buy back in 24hrs later when it keeps going up and then lose everything, kek)
Ryder Roberts
Pretty much got that. 100K USD per limit daily on Coinbase, and account maturity of 5 years. Coinfloor i did KYC but account is around 1 year old and only ever did 2,000 GBP deposit. I guess one more would be ideal. Gemini is looking like the next best KYC exchange.
Advice to newfags is to get this shit in order NOW, because in peak bullrun its impossible to open exchange accounts, KYC, get limits increased or doing anything.
Caleb Russell
the fact that OP is "gearing up" for the bullrun is proof that it absolutely will not happen.
we are way more connected even now than we were during the last bullrun. most people did not make their money from $1 to 20k (20,000x return); they made it from 3k to 12k (4x return)
the crypto space is so diluted that the cash has no reason to flow into BTC. its going to crash and literally crab for the next decade. prepare accordingly.
Alexander Roberts
im starting to wonder how im going to cashout with minimal fees from my ledger->exchange?->fiat and also how im gonna re-accumulate afterwards despite purchase limits everywhere while also tackling the capital gains that comes from the sell.
Cameron Morris
Sign up for many good exchanges now. Hopefully all your coins will be listed o nthem so you avoid making multiple trades to cash out.
Link for example is on Coinbase and Gemini for USD. That means 1 taxable trade. If your account is matured, you have a history and KYC, and you request limit increase you will be fine, but you gotta do it now.
You just made me wonder about tax though. If i were to immediately swap an alt coin to BTC, then BTC to my countries fiat, will that be extra tax even if it is literally just to cash out?
Jayden Thomas
You have a year and 7 months to plan
Aiden Williams
i believe you are not taxed on that btc to alt transaction as long as the alt didnt increase in value in the mean time.
i have kyc on 2 "good" exchanges, about 50k/day withdrawal altogether. but what im worried about more so is the purchase limits when i plan on reacclumulating, they're like 1500 a day and only so much a week (coinbase and crypto . com)
Joshua Reyes
I mean if you do it fast i guess it wont, but its extremely likely it'll go up a fraction of a percent.
