Post
Topic
Board Bitcoin Discussion
Re: Converting bitcoin to fiat without problems
by
Synchronice
on 29/05/2024, 16:57:14 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
The best way is to have a friend, buddy who wants Bitcoins and will have a deal with you, i.e. will buy these Bitcoins from you. This way, no one will question where does the money come from unless it's a lot of money.
If you are from the USA, I wouldn't risk it because recently Roger Ver was arrested for not paying taxes and I think that he would put more effort into it than you (nothing personal). If you are from a developing country where laws are strictly protected, it might turn into a big headache if you don't pay taxes.