Hello everyone,
I read quite a lot of threads and I seem to have found the experts that could help me with my situation, which I believe might be more and more commong 🙂
My partner and I are crypto traders. I resides in EEA while he resides in Cyprus (where I used to live) and we have incorporated a Cyprus company that we use to trade cryptocurrencies exclusively on Binance and Kraken. Now, our business is not complicated as there are no clients, we are not an exchange. We are simply traders who happen to be quite successful, to the point where having to pay the Crypto to crypto trade makes me lose sleep at night as I could end up paying more taxes than I actually make money (if BTC crashes). My partner does not have the same worry as he is in Cyprus.
So after a lot of research, it seems to be very hard to find a good banking solution between the scammers and the legit banks that ask you for 1000 euros per month in fees.
We are looking for a 100% legit solution. We are more than willing to go through any KYC process, however hard they are as we have nothing to hide. Frankly, the only reason to look for a Bank solution is to be able to pay the Corporate taxes and potentially pay my taxes if we ever pay ourselves. Other than that, Alts and BTC remain on Binance where we keep trading it. Which also can be seen as a challenge for the Bank as we do not have any proper volume when it comes to transaction (again, we do not deal with any clients). We do not plan on cashing out before many years but a Bank is still needed for when we might do.
TL,DR: Do you know of any decent crypto friendly banking solutions, without exhorbiting fees, that would accept a crypto trading company incorporated in Cyprus, whose sole purpose is to trade Binance/Kraken.
Thanks for your lights!
I read quite a lot of threads and I seem to have found the experts that could help me with my situation, which I believe might be more and more commong 🙂
My partner and I are crypto traders. I resides in EEA while he resides in Cyprus (where I used to live) and we have incorporated a Cyprus company that we use to trade cryptocurrencies exclusively on Binance and Kraken. Now, our business is not complicated as there are no clients, we are not an exchange. We are simply traders who happen to be quite successful, to the point where having to pay the Crypto to crypto trade makes me lose sleep at night as I could end up paying more taxes than I actually make money (if BTC crashes). My partner does not have the same worry as he is in Cyprus.
So after a lot of research, it seems to be very hard to find a good banking solution between the scammers and the legit banks that ask you for 1000 euros per month in fees.
We are looking for a 100% legit solution. We are more than willing to go through any KYC process, however hard they are as we have nothing to hide. Frankly, the only reason to look for a Bank solution is to be able to pay the Corporate taxes and potentially pay my taxes if we ever pay ourselves. Other than that, Alts and BTC remain on Binance where we keep trading it. Which also can be seen as a challenge for the Bank as we do not have any proper volume when it comes to transaction (again, we do not deal with any clients). We do not plan on cashing out before many years but a Bank is still needed for when we might do.
TL,DR: Do you know of any decent crypto friendly banking solutions, without exhorbiting fees, that would accept a crypto trading company incorporated in Cyprus, whose sole purpose is to trade Binance/Kraken.
Thanks for your lights!
