Di Posts: 200 · Reputation: 2112
So my family and I are EU citizens. It feels like banks and governments are just waiting to pounce on crypto holders like a dog on a steak.
C Posts: 70 · Reputation: 61
Yeah man, if I drop a big chunk into BTC like 15-20k, I’m pretty sure the tax office will come knocking. I can’t risk that, it’ll mess with my job.
P Posts: 1284 · Reputation: 2049
If you keep your crypto off exchanges and use a good hardware wallet, no one can touch it. Your wallet and your mom's wallet are basically the same if you hold the keys.
Di Posts: 200 · Reputation: 2112
But think about it, if the tax guys do come, saying this wallet is mine and that one is my mom's might not hold up. Just saying.
0 Posts: 12 · Reputation: 1807
Check out some payment services in Europe. You can create multiple wallets to avoid drawing attention. Just stay under the radar.
Di Posts: 200 · Reputation: 2112
Honestly, I don’t know what scares me more. Missing out on gains or getting hit with massive taxes.
Investing in BTC under government radar just can’t happen without them knowing. They’ll track any big withdrawals.
Di Posts: 200 · Reputation: 2112
You sound like you have a solid plan. But what if it backfires? Tax evasion is serious in many countries.
P Posts: 1284 · Reputation: 2049
I'm in Belgium. Yeah, they’re going for crypto with hefty taxes. Evasion is criminal here.
T Posts: 286 · Reputation: 84
#10 Jan 20, 2021, 11:02 PM Legally avoiding taxes is one thing, but if I send BTC to my mother-in-law, that’s a gift. Not taxable, right?
0 Posts: 292 · Reputation: 52
#11 Jan 21, 2021, 02:49 AM Can you really stay anonymous with altcoins and just trade on DEXs? What about immigrants trying to deal with the law?
Di Posts: 200 · Reputation: 2112
#12 Jan 21, 2021, 02:57 AM This taxation stuff is just gonna kill adoption. Bitcoin deserves to be mainstream.
Wa Posts: 225 · Reputation: 170
#13 Jan 21, 2021, 06:57 AM Governments wanna control the value of Bitcoin, and they’re gonna fight for it.
P Posts: 1284 · Reputation: 2049
#14 Jan 21, 2021, 09:37 AM I’m not saying evade taxes. But if I sell my crypto in 15 years, I’ll get advice on how to minimize taxes.
A Posts: 352 · Reputation: 479
#15 Jan 21, 2021, 11:14 AM Dude, stop reading random articles and check your local tax laws. You’re making it sound way worse than it is.
P Posts: 1284 · Reputation: 2049
#16 Jan 22, 2021, 11:47 AM Real talk, I’m not even sure what’s going on. Is the IRS really visiting homes in Europe?
Posts: 92 · Reputation: 11
#17 Jan 22, 2021, 02:16 PM You should calm down. You seem to misunderstand wallets and could lose everything trying to manage two accounts.
P Posts: 1284 · Reputation: 2049
#18 Jan 22, 2021, 06:32 PM I’m a self-employed physician, so I know how taxes work here. The tax office is on you if they come knocking.
Posts: 92 · Reputation: 11
#19 Jan 22, 2021, 08:57 PM Happy to hear you’re in a country with no crypto laws. Must be nice to avoid those crazy taxes.
C Posts: 70 · Reputation: 61
#20 Jan 22, 2021, 10:01 PM No one thinks you're a criminal for using Bitcoin. People will always look for loopholes when taxes are high.