Post
Topic
Board Bitcoin Discussion
Re: Converting bitcoin to fiat without problems
by
Abu-Naim
on 28/05/2024, 12:42:21 UTC
Hello,friends
The question is more for those who once converted a lot of bitcoins into fiat to their bank accounts
How did you do it so that the tax authorities and the bank manager would not question where the money came from?
The thing is that many years ago i bought my bitcoins from a person in cash and he transferred them to me in my presence
How can i make sure that this money is transferred to my bank card without any problems?

-Regards
To do this without any task from either government of your bank suspense since some of these banks also have bitcoin regulations, you need to sell your Bitcoin the same way you bought it which is through p2p.

P2P can be physical the same way you buy your BTC, and it can be through the use of centralized exchanges that offers p2p service.
If you don't have someone to trade with physically, you can download a centralized exchange like Bybit to be using them as your market just to buy and sell your coins with them; don't leave your coins in the exchange.