I just started trading bitcoin, so I'm kinda lost here. I tried to withdraw some profits, and they want me to pay 9% tax plus £300 for transferring. Is that normal or am I getting scammed?
That sounds totally ridiculous and definitely screams scam. Which tax are they talking about? Withdrawal fees should never be that high, even with the worst platforms, lol.
Yeah man, seems like a scam to me too. In the UK, I've never heard of an exchange handling taxes like that. Usually, we report our own taxes. Also, most withdrawal fees are just a few bucks.
Exactly! Exchanges don’t charge taxes. The 9% isn't even the main issue here, it's that £300 fee. That's outrageous! It's your money, you should be able to take it out without getting ripped off. You should definitely tell us which platform this is.
That’s a huge red flag! Don’t give in to that. £300 is a lot, and it’s weird they're asking for a flat fee instead of a percentage. Can you share the site name? It could help others not get scammed!
Some countries don’t tax crypto, so you might be in one of those. But you should check to avoid any issues later. No legit service talks about a tax like that, and there’s no 9% tax in the UK, so it’s definitely sketchy.