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RE: SOLVING THIS PROBLEM WOULD SOLVE ALTCOINS FOLLOWING BITCOIN!
great info, i just hope this crazy tax code against crypto doesnt last!
great info, i just hope this crazy tax code against crypto doesnt last!
I don't think it will. With the whole point of crypto to be decentralized, I think that eventually, you won't even need to report to the IRS. You will be able to use your currency as you want without being bothered. Businesses will start paying employees with it as it becomes more stable. Many people don't realize we are still on the ground floor! The bugs need to still be worked out.
How do you see it playing out? Here in Australia, the public isn't being told anything. Thus far, I've had to change banks three times. And I have friends who are now completely de-banked... but not by choice - the large banks just won't accept them as customers.
Sorry to highjack the thread, but I am looking to transfer money to Australia from Europe. What is a good exchange to exit to fiat? And which banks have you had good and bad experiences with?
Why not just buy a few grand word and do an OTC? P2P transactions are pretty easy so long as to take measures to keep yourself safe and ensure that you're not about to get scammed.
I will check it out, although I prefer to be in control via an exchange even if it costs a little bit.
I have heard the horror stories. That is awful that your friend cannot join any bank. But that could be a blessing. Some banks even charge you just to hold a checking account. Has he looked into a investing firm? I know Etrade will send you a debit card if he wanted to hold his money there. Not a bank, but some place safe to hold his money.
I'll have to look into that. What about crypto debit cards - anyone have any opinions or feedback? It's something I really need to look into.
I am currently using a Shift debit card. They're really good, only 10 dollars for the card and then you can connect it to your Coinbase account to use any of their offered currencies to withdraw money from. I think the standard ATM fee is 2.50 which isn't that bad
Ah, cheers for the information. I'm in Australia though, so we have some limitations. For instance, I don't have access to the exchange and thus can't sell - only buy. But I will have to look into whether or not I'm actually able to withdraw funds.
Ah, I see the dilemma. I will do some research and see if there are any cards you could potentially use.