What happens when we sell our crypto in profit

[kryptonick 2659]

How much did you earn? This is what banks will care. There are limits set by the EU and you have to ask your bank what they will do if you deposit suddenly a huge amount. Maybe you will have to report these as profits from crypto trading and provide your trades too as the EU is tough with AML regulations.

[Zafarwaheed 0]

If I get profit by selling my crypto Bitcoin at the market then it's a good thing for me. I will withdraw some of them into my country currency and  the remaining one I will invest again in trading. And also it depends on the regulates of the country if taxed applied thn we have to pay. But in cryptotalk the withdraw and transaction fee is minner. 

[Jaafar Fahad Hassan 114]

Would they still tax if you sell your bitcoin in another countries exchange site? Or it when it is disbursed to your account as raw cash that bank make taxes, am getting a bit confuse about it 

[safwan944 54]

If we sell our cryptos it will be kept in the market for someone who is gonna buy them moreover at that time market will be low so it can be a good project if one can take that moment to invest on it.

[Bond07 166]

On 12/23/2019 at 2:35 AM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ?

We are unable to sell our crypto untill another person put a buy order. we sell our crypto to that buyer who bought it for profit. If the coin dumps then, he will face loss.

[ArtoriasTAW 64]

In my case, I do not have to pay any type of taxes for that type of profit, but I also do not have any means to be able to obtain real money through the sale of cryptocurrencies, so my only option is to operate through them to buy services and products that they accept them as a means of payment.

[satella17 65]

On 12/22/2019 at 2:35 PM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ? Who knows what taxes we will pay or if we will pay. Obviously this depends on each state that has their own laws and regulations. I live in europe and so my earnings could be taxed in a different way from another state .

That depends on each country. For example, here in Mexico they only charge for entering money and making transactions from one currency to another, and for withdrawing, they do not charge anything.

[Affect579 66]

It is impossible to track the transaction itself. Taxes will be taken only if you withdraw money to your bank card from any site. But for me it also depends on the amount of money.

[George10 9932]

On 12/22/2019 at 11:00 PM, tienda said:

The transaction are not being tracked, but if you sell you Bitcoins on any websites exchange and from this websites exchange you withdrawal to your bank account, they will see take some tax.

That's true mate the taxation occurs when crypto is exchanged to fiat vai an exchange where there are buyers who buys crypto and sends money to a bank account or any desired payment and that's when tax can be collected from, more especially if it's a large amount.

[avgplaya 97]

On 12/22/2019 at 3:35 PM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ? Who knows what taxes we will pay or if we will pay. Obviously this depends on each state that has their own laws and regulations. I live in europe and so my earnings could be taxed in a different way from another state .

It is correct, if you obtain profits from the exchange of your cryptocurrencies, and depending on the country where you live, you will have to pay a part of income tax.
But, I think this is something beneficial, as it contributes to the distribution of wealth.
We must be careful in this matter and not try to evade the obligations of the country where we live. We already have a recent example of escape with Mr. Mcafee, now a prisoner in Spain. Even though he feels like he's at the Hilton. 🏨

 

😎❤️👻

[cooliez2 81]

Yes, you have to be very careful if you exceed the annual limits. In Germany e.g. then you have to be able to prove every transaction. It is best to look for a tax advisor who specializes in crypto, so as not to have a rude awakening in the end.

[moeletaly 148]

On 12/22/2019 at 10:35 PM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ? Who knows what taxes we will pay or if we will pay. Obviously this depends on each state that has their own laws and regulations. I live in europe and so my earnings could be taxed in a different way from another state .

If I put it in bank I maybe imprisoned 😂 the government will that I do money laundering this if I have much money but I'm still fish not arrived whale yet 

[hassan7951 25]

To avoid all this problem, I believe the Crypto Wallet is the palpable solution, your money being there I believe no one would impose a law on you.

[Brushless4500KV 4214]

1 hour ago, George10 said:

That's true mate the taxation occurs when crypto is exchanged to fiat vai an exchange where there are buyers who buys crypto and sends money to a bank account or any desired payment and that's when tax can be collected from, more especially if it's a large amount.

If authorities track crypto taxing through bank transactions, what happens in peer to peer trading? Suppose two people agree upon selling and buying. One of them, sells his coins to the other and they visit each other in person and the seller will receive cash money from the buyer. What about this kind of transaction? In this case, there is no details of transaction registered anywhere. Can they track it? If the answer is negative, then traders can experience a tax-free crypto trading.

[hanguyen 41]

I think it is best to transfer money to an electronic wallet like Perfect money for online shopping.

[malik6314193 5449]

Yes definitely we all have to pay income tax to legalize our profit. Otherwise it will be illegal money for us and we can sent to sentence. But in mostly countries tax system is not so strong that every gainer will pay tax. 

[mohamedpc1 2213]

On 12/22/2019 at 9:35 PM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ? Who knows what taxes we will pay or if we will pay. Obviously this depends on each state that has their own laws and regulations. I live in europe and so my earnings could be taxed in a different way from another state .

Yes, you have the right when sending money or trading. You will pay taxes to the platform or site from which you sent the money, and it varies from platform to platform or from one wallet to another according to the laws and conditions in force.Through my experience, I find that Bitcoin needs large taxes depending on the amount that you transfer, so I advise everyone before transferring your money to choose currencies with the lowest tax, such as the Litecoin currency that I use a lot to transfer my money

[Yoobitlover 30]

If payment is small then you have to  pay no any taxes.its depend on the payment if amount is big then definatly you have to pay its no good idea to store your money in bank use it to make more.buy and sell is good you make a good profit in week then do this process again and again.

[RubDario 122]

Bueno, ganas dinero porque cuando suben los Btc puedes venderlos y ese dinero puedes usarlo para crear más activos y nuevos negocios pero averigua si deberías tener Bitcoin ya que es el dinero del futuro.

[Osiris0 36]

effectively different countries handle their taxes differently and each bank is different

[eduardo767 29]

no pasa nada, simplemente obtenemos nuestras ganancias y luego podemos invertirlas en cualquier otra cosa que tenga potencial

[Matias Conforti 89]

It is very important to know how to withdraw winning, you can always turn a trade and go to a loss, it is always good to finish a trade or a Hold with profits

[Ecoloco2020 55]

Hello, when we make profits from the cirptomnedas it is something beautiful, usually I spend it, on a trip, good food, a good wine, and then when they ask me for taxes, we will see, whoever takes it away from me.

[Zeshan Khalid 2577]

Just keep your money in a trusted crypto exchange and transfer it into bank account in small amounts and keep on withdrawing its quite simple because as long as it is in crypto form it is tax free

[Tetrisreal 219]

Whenever you receive money and as they say you pass a certain limit in any country they will start to find out where that money comes from, since it could be money laundering, however when I must already sell a large part of my cryptocurrencies I hope there are more services and It is good that I can pay with crypto in this way the conversion to fiat did not affect me