Post
Topic
Board Bitcoin Discussion
Re: crypto earnings
by
Swordsoffreedom
on 06/12/2019, 14:50:30 UTC
Based on our country, you cannot actually get away from taxes in cryptocurrency conversion to fiats. How? Because if you have local exchanges, then that is the place where you need to convert your cryptocurrency. In this case, what you need is to pay transaction fees with taxes from conversions. What is good about it is that, if you have huge accumulation of cryptos, instead of converting, you could transact and pay in crypto without taxes.
What about peer to peer trades with a person from your country? He gives you cash, you send him Bitcoins. And you keep that cash at home, not deposit it to the bank because you might need to explain origin of money.
But I guess it's difficult to find buyer for large amounts of Bitcoins.