What happens when we sell our crypto in profit

[Jessica Karren 1242]

This is the biggest advantage of cryptocurrency that your transactions are not tracked and you will not be worried about taxes which you have to pay as in Fiat currency.

[johant123 1559]

On 3/7/2020 at 6:06 PM, Hridoy1995 said:

I feel you shouldn’t be terrified of taxes, if cryptocurrency brings you well-behaved income, it’s better to forfeit a tariff to the turmoil and doze peacefully, than attempt to dodge the rule and at that time organizer into fines
 

 

Yes, I agree. Unless you live in a corrupt state, the whole idea of taxes is to help maintain the country. Health services, road infrastructure, social welfare, public transport, electricity ... without income from taxes they all would stand still.

 

Of course you should not pay more than you have to do, but paying taxes is a way of solidarity.

[Calvinpriva 17296]

I like to keep my profit by using mobile payment method to withdraw my bitcoins through localbitcoins. I can exchange my bitcoins to cash and withdraw through bank but the fees is very high.

[rianpedia 816]

7 hours ago, OldBangS333 said:

When I sell crypto profits, a lot of fantasy about hоw to make more money is made and I will be more interested in working, trading and investing in crypto and I can make more mоney and be more profitablе

Good motivation, although it is certainly difficult to the point it is now. if you have found the right technique then we will be successful and the profits will be more.

[iloveyobit 6599]

This is unfortunate. If this happens to me, I live in Algeria, and here the situation is a little different. Search There are no fees for withdrawing bitcoin on traders in Crypto at the moment.

[jamesvince 2389]

If we sells our crypto currencies coins and tokens in profits then we need withdraw our some portion of profit and enjoy profits from crypto market. And remaining btc or usdt must be hold and wait some bearish movements of crypto market and then investment again and enjoying next bull run. 

[Sidu005 2]

Greetings, my friend
For information, recently the German parliament approved the possibility of depositing digital assets with banks and imposing fees on all transfers or withdrawals
As for the event, after we decided to sell our encrypted assets, the price will continue to witness small changes

[Yunusalemu 0]

Lol funny question is this you are asking, I definitely off curse happiness and fulfillment is the reward for success and getting profits from selling out your crypto currency is success. 

[kamikaze04 6]

If we are using crypto for a long time and if we earn enоugh and feel confident that we can profit out of it by selling it then we should first try to fully know about the price that we will be оffered in return in our respective country. If it is favorable for any person, then the person can think of selling his prоfit at that point

[Zaino34 0]

This depends on the region in which you live. I sell my currencies when their price increases and converts them into real money. When the price falls again, I buy and store more digital currencies and thus win the money.

[Nezar 7169]

For me, the cryptocurrency in my country is not allowed and when I want to transfer any money I do not pay any taxes because I am selling my own currency to a person called the broker who takes the cryptocurrency in exchange for my paper currency

[Captain Karim 0]

If you are afraid to impose taxes on your profits, you can transfer through an intermediary, but there is an important point, and it is possible that you can evade taxes, but you put your money at risk through illegal transactions.

[japsha 0]

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..advise that you have a digital electronic balance of Bitcoin and you can buy some gold as a good investment, and take advantage of the money left in life projects that give you a monthly return.

[Dark_Sky 8489]

On 12/23/2019 at 5:00 AM, 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 right they not going to track your transaction unless you exchange form other websites and do withdrawal tax will be added for the process. 

[Sedy 670]

On 12/23/2019 at 2:05 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 ? 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 .

There are certain s laws concerning taxes, if your transaction limit is more than 10,000$ tax are levied ... If it is less than the max transaction limit you do not have to worry,no tax is levied. So,it is wise to withdraw less than the max limit and repeat the same the next day ,till you have withdrawn every earnings. 

[Saj555 2250]

Whenever you transact your money in banks from the cryptocurrencies or crypto world then there is no worry for that. But always provide taxes and give it to your government and then you are all okay. But if you break the rule then you have to be questioned by the authorities and answer the source of your money. 

[Babubu609 0]

8 hours ago, Avais.mf said:

In my country there is a limit till where no one will ask me that from where i have this money but after that limit i have to explain that from where i got it and will pay tax.

That's good so you can use it wisely in such a way you did not exceed the limit giving to you

[Brand1 1336]

As for my country, there are no taxes that I pay, regardless of the number and size of the currencies I want to sell, and this is because I am selling coins to a person called a mediator, who takes a very low percentage rate

[Mohssine 1725]

If i sell my crypto with a profit, i will invest again when this coin get down with the same capital witch i invest in the first time , is mean i don’t invest also with my profit , this what i will to do .

[Zues 1069]

On 1/17/2020 at 1:22 AM, fila said:

Very good question. Banks where I live recently sent out a questionnaire to all of the countries residents where we had to click of a bunch of stuff, one of them was if we were expecting a substantial amount from assets held in crypto currency. Now they pegged that amount in the questions at around 6000$ which is not even the value of one full bitcoin so I guess banks have noticed an increase of bank accounts suddenly jumping when funds from crypto are being transferred. What happens when users do this, well for one the exchange doing the transfer makes a nice sum a they all take some nice fees for such. And then the exchange itself simply holds the coins for resell until some one buys them.

Thanks for this information. Now  I know too that banks are expanding because of the influence of bitcoin and they are starting to move to. The exchange have some nice fees and they are holding the coins well for resell.

 

[Zezo 306]

Why transferred your profits to the bank? You can keep them as dollars in your portfolio without losing the value of taxes in the bank

[Upright 2688]

I thought that having to sell on a coin on high profits, if in a multiple scale of many users doing such at almost the same times, this Will kind of weaken the price to a subsequent drop.beause like basically this are kind of easy which the whales does on having to take the upper hand on such situations I'm the market

[TangoDance4 23]

I think every country is different but I suggest always to exchange rapidly to your stronger fiat at hands. Any other approach drive to the exposure to ups and down usually we are seeing on cryptoworld

[Maroua 1159]

Everyone knows that free business in the Internet without taxes and these are its advantages, your idea is a little far away, there is no tax on free work, not even on bitcoin, do not worry about this matter I worry about other things my brother.

[Bohana 2143]

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 .

It really depends on the amount of crypto you have. If you own a good amount of a cryptocurrency like Bitcoin and sold all your profits, you will have a noticeable effect on market.