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Topic
Board Gambling
Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest
by
babygun
on 18/07/2020, 09:43:22 UTC
Lol, nice and smart solution  Grin. Than I would convert half and the rest I would hold BTC.
A fine solution in my opinion. Smiley

Quote
Only question remains: cashing out such a large sum of a crypto exchange to your bank account isn't so easy I think. You would want to avoid to pay taxes or something else on that amount.
Dont be of that mentality that you need to evade taxes. That is what makes things worse. You should contact a CA from your country and see how people are filing taxes there, that should help to allow you to keep earning and paying taxes of capital gains.

If someone want to live anonymous and want to withdraw money then surely need to take some long time and withdraw this in small amounts keep in bitcoin is also very good solution because cryptocoins can violate very badly and they create problems on other hand bitcoin is much better solution.
Possible workarounds are there if you want to avoid changing to fiat directly.

1.Invest that money back to the site using the daily interest scheme, though the earning is not a huge one.
2.Buy some giftcards on popular shops from other third party sites and redeem them for cash.
3.Trade on exchanges and buy altcoins that you can continue trading with. Works for the traders.

It is not really about evading taxes, but why pay taxes on something that you have won honestly? In Belgium, if you would cash out such a large sum, you would need to pay around 33%. That doesn't really sound fair to me.