How to cash out crypto money ?
- Thread starter Unpetit10K
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There is a safe way to do this and also kind of my procedure when going for more than 25k. You can
a) rent a room︀ from a business center (50€ day) including a cash machine to check for fake´s and︁ to count faster.
b) go to your local bank and ask for transaction support. Not︂ all banks offer this service tho. It is kinda like a trustee service. The bank︃ will count the money and check for fakes, than you can release the btc transaction.︄ All in a safe room inside a bank, with certain security standards... it´ll just cost︅ round about 50-200€.
Sure b) is not that anonymous...
a) rent a room︀ from a business center (50€ day) including a cash machine to check for fake´s and︁ to count faster.
b) go to your local bank and ask for transaction support. Not︂ all banks offer this service tho. It is kinda like a trustee service. The bank︃ will count the money and check for fakes, than you can release the btc transaction.︄ All in a safe room inside a bank, with certain security standards... it´ll just cost︅ round about 50-200€.
Sure b) is not that anonymous...
It's a good point. One should keep in mind that in many (if not all) EU countries any face to face cash transaction like this over 10k EUR is illegal and theoretically there is a risk of penalty of 20k EUR for personal transaction and many times more if you act on behalf of a company.
Warning, in case you didn't know:
Legal vehicles, as well as incorporating them, are over-prized commodity products.
Without bank accounts, they're worthless.
Stay away from advice, that doesn't answer the bank account problem and only telling you in which jurisdiction you should incorporate (and which provider you should use).
Legal vehicles, as well as incorporating them, are over-prized commodity products.
Without bank accounts, they're worthless.
Stay away from advice, that doesn't answer the bank account problem and only telling you in which jurisdiction you should incorporate (and which provider you should use).
Banks in Cyprus only open company bank accounts for very few business activities. I heard from︂ experiences that they don't even accept e-commerce.
And I think it's not possible to open︃ bank accounts there without holding the residency. For EU citizens this is a cheap no-brainer,︄ but for non-EU citizens, you should calculate with around EUR 150k investment.
Banks in Georgia︅ open accounts for non-residents (natural/legal persons) and have been described as crypto-friendly.
This is only︆ second-hand information, since I'm not into this whole crypto gambling thing. In about 2 months︇ we will open accounts there too.
And I think it's not possible to open︃ bank accounts there without holding the residency. For EU citizens this is a cheap no-brainer,︄ but for non-EU citizens, you should calculate with around EUR 150k investment.
Banks in Georgia︅ open accounts for non-residents (natural/legal persons) and have been described as crypto-friendly.
This is only︆ second-hand information, since I'm not into this whole crypto gambling thing. In about 2 months︇ we will open accounts there too.
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