Thailand/countries to live off crypto
- Thread starter Jigam
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And you dare trust others with those words? Yes your multi-sig solution is a problem too as you lock yourself out without the cooperation of another. That requires trust, and when trust isn't required it's always a mistake.
If Thailand is too difficult, choose any neighboring country and cash out at physical shops, they are not that hard to find.
Or just open a bank account and do P2P, or even combine them and do both. The fees are minimal.
For example: P2P USD from local bank to ->USDT cost today 0.18% (would be 0.1% but I dislike merchant KYC), cashing out at physical shop I get an exchange rate that's 1% higher than when exchanging dollars in cash. I haven't used an ATM for a year now (I dislike giving 2% fees plus ATM fees to the banksters). Instead I just send︀ it from the bank straight to a P2P merchant, receive USDT and cash out locally.︁ Practically, I even make 0.80% profit every time I do this to fill my wallet︂ with fiat money.
Oh, coming back to Thailand: when entering the country one is allowed︃ to bring $20,000 in cash per person without any SOF. I guess it should be︄ sufficient to cover any living expenses for 2 months for most of the people, even︅ >1 year for some.
Disclaimer: no financial or tax advice, do your own research, everything︆ is just imaginary for amusement purposes.
Or just open a bank account and do P2P, or even combine them and do both. The fees are minimal.
For example: P2P USD from local bank to ->USDT cost today 0.18% (would be 0.1% but I dislike merchant KYC), cashing out at physical shop I get an exchange rate that's 1% higher than when exchanging dollars in cash. I haven't used an ATM for a year now (I dislike giving 2% fees plus ATM fees to the banksters). Instead I just send︀ it from the bank straight to a P2P merchant, receive USDT and cash out locally.︁ Practically, I even make 0.80% profit every time I do this to fill my wallet︂ with fiat money.
Oh, coming back to Thailand: when entering the country one is allowed︃ to bring $20,000 in cash per person without any SOF. I guess it should be︄ sufficient to cover any living expenses for 2 months for most of the people, even︅ >1 year for some.
Disclaimer: no financial or tax advice, do your own research, everything︆ is just imaginary for amusement purposes.
It's $15K equivalent in/out without customs declaration according to BOT:
Bringing into or taking out of Thailand baht banknotes in an amount exceeding THB 450,000 or foreign currency banknotes in an amount exceeding USD 15,000 or its equivalent requires a Customs declaration when entering or leaving the country.
Bringing into or taking out of Thailand baht banknotes in an amount exceeding THB 450,000 or foreign currency banknotes in an amount exceeding USD 15,000 or its equivalent requires a Customs declaration when entering or leaving the country.
Thank you for that, so many sources quote 20K, even their embassy in London.
https://london.thaiembassy.org/en/publicservice/84708-bringing-currency-in-and-out-of-thailand
But the customs rules confirm your figure of 15K, one learns something new every day.
http://ccc.customs.go.th/cont_strc_...edure_161208_07¤t_id=14232932404f505f46
https://london.thaiembassy.org/en/publicservice/84708-bringing-currency-in-and-out-of-thailand
But the customs rules confirm your figure of 15K, one learns something new every day.
http://ccc.customs.go.th/cont_strc_...edure_161208_07¤t_id=14232932404f505f46
In Thailand the most reliable and up-to-date information is always from the horse's mouth.
In that case Bank of Thailand responsible of Exchange Control Regulations.
https://www.bot.or.th/en/our-roles/...ion.html#accordion-89d74b5d26-item-394b0956bc
In that case Bank of Thailand responsible of Exchange Control Regulations.
https://www.bot.or.th/en/our-roles/...ion.html#accordion-89d74b5d26-item-394b0956bc
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