Bitcoin withdrawal

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May 12, 2007
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Is just started using it to withdraw from my book.


I only use it for this purpose. I get it. Sell it right away. It’s always been less than what comes in.

what happens if I don’t report on taxes ? I am not investing in bitcoin.
 

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Why would you withdraw it to sell for less.??????? .Some books like Bookmaker give you a higher match if you use Bitcoin for deposit.,so use it for that..Not to get less
 

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So. What I mean is.

I withdraw 1000. It goes into cash app. I sell it. I may get $960. No capital gain.
 

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If you withdraw cash from the bookie there is no capital gain and you get $1000
 

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You won't avoid taxes using bitcoins. You must cash out it with your bank account or other method and tax authorities will know
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Thank you for the information. The topic of bitcoins is very popular now, but I don't know much about it.
 

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I think bitcoin is the future of digital currency. But everyone should make their own decisions about such investments because the risks are very high due to the uncertainty of the crypto markets. The situation is a lot like the gold rush times when you could become a millionaire after one successful expedition for gold. The main difference between the risks of investing in cryptocurrency is that investors are not threatened by wild animals, weather disasters, or bandits. Skillful use of virtual coins can increase profits if you approach investing wisely, using expert advice, or checking out online resources such as Investor Junkie to get a basic understanding of everything you need to know.
 

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The downside is most of that 9.6% is tied to CPI and variable, so it is gonna tail off over time (unless we're in a prolonged era of inflation)

But it is OK for what it is
 

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