Cryptocurrency

[SpurMeUp]

The whole point of crypto is to move it around without the government controlling it.

Open an overseas bank account.

Do you have to fly there to open an account?

 

[Danishfurniturelover]

Do you have to fly there to open an account?

Well you could try walking but you might get a bit wet.

You can open accounts with overseas banks as a foreigner. Did it with a few Irish banks when I first married the wife as their interest rates were better.

Emirates NBD is who I have a "savings account" with opened with documents sent over the inter Web. Put money into that then made a payment into coinbase so I can now withdraw from that few that I have on coinbase straight to NBD.

Most exchanges won't actually care bit coinbase are pretty strict.

Keep your money out of the government's hands.

 

[Danishfurniturelover]

Don't know maybe they changed the rules and you have to go in person these days, hope your both making enough coin to make it worthwhile.

Though seem to remember @SpurMeUp you thought it was all fake?

 

[SpurMeUp]

Don't know maybe they changed the rules and you have to go in person these days, hope your both making enough coin to make it worthwhile.

Though seem to remember @SpurMeUp you thought it was all fake?

Not fake. Just wanted you all to ride the wave and sell at the right time, as the asset is based on very little real use. Most are still speculators rather than users of the currencies. But maybe that is changing. Increasingly I hear about people being paid in Crypto across borders. Russian international transactions are no doubt falling back on crypto. Ironically this must be making a strong case for Crypto. And any dodgy purchases of drugs on the dark web use crypto right? All these genuine uses must be 1-2%? With millions across the world speculating still. Yet the case for Crypto is stronger than ever, it will be here to stay, and whilst most buying are still speculators - I would personally suggest taking profits when new highs are close unless there is a good reason to stay in the market.

Interesting on Dubai. Seems amazing you can setup accounts there. How would this work with taxes?

 

[SpiderSpurs]

The whole point of crypto is to move it around without the government controlling it.

Open an overseas bank account.

I thought you were joking, clearly not.

The thought had never crossed my mind before.

 

[Danishfurniturelover]

Not fake. Just wanted you all to ride the wave and sell at the right time, as the asset is based on very little real use. Most are still speculators rather than users of the currencies. But maybe that is changing. Increasingly I hear about people being paid in Crypto across borders. Russian international transactions are no doubt falling back on crypto. Ironically this must be making a strong case for Crypto. And any dodgy purchases of drugs on the dark web use crypto right? All these genuine uses must be 1-2%? With millions across the world speculating still. Yet the case for Crypto is stronger than ever, it will be here to stay, and whilst most buying are still speculators - I would personally suggest taking profits when new highs are close unless there is a good reason to stay in the market.

Interesting on Dubai. Seems amazing you can setup accounts there. How would this work with taxes?

You don't pay tax in Dubai. Tell coinbase you have moved, they may want proof, but if you deposit from a UAE account I would not have thought so.


Don't keep much on coinbase, most 90% is hard wallets. I got fcuked after the last bitcoin halvening with capital gains tax.

 

[Danishfurniturelover]

Not fake. Just wanted you all to ride the wave and sell at the right time, as the asset is based on very little real use. Most are still speculators rather than users of the currencies. But maybe that is changing. Increasingly I hear about people being paid in Crypto across borders. Russian international transactions are no doubt falling back on crypto. Ironically this must be making a strong case for Crypto. And any dodgy purchases of drugs on the dark web use crypto right? All these genuine uses must be 1-2%? With millions across the world speculating still. Yet the case for Crypto is stronger than ever, it will be here to stay, and whilst most buying are still speculators - I would personally suggest taking profits when new highs are close unless there is a good reason to stay in the market.

Interesting on Dubai. Seems amazing you can setup accounts there. How would this work with taxes?

Considering the interest rates falling here it is worth looking around for countries where you can open accounts where they reward savers unlike our sh*t bank of England.