Question about coinbase

so when I “cash out” I’m understand it’s taxed. My question is what if I’ve purchased more than I’m cashing out throughout the year?

Basically I gamble..Lost/purchased tons and now made a decent amount.

 

Bump

 

send to a wallet, then exchange without "cashing" out

 

Exactly. Just don't cash out man!

 

Hmm what you mean exchange? I’m a nub when it comes to crypto. I’ve figured out coinbase and that’s about it. Just don’t wanna pay a huge tax. I don’t need to “cash out” all of it but I will eventually

 

So here is my advice

1. Send your coins to an external wallet like Exodus ( or keep on coinbase and skip step 2).

2. Send those coins to 1-2 other wallets ( never keep all your funds on 1 wallet )

3. Sell those BTC or other coins to people on sythe ( be very careful and ask for a Middle man since you are new to crypto). Selling on sythe will get you about 95-100% of the price of the coin, and some people will cover the fees. The more you sell, chances are the better deal you will get. Remember that a 1-3% loss isn't the end of the world but try to get the best deal you can. You can make a posting on the link below.

here is the crypto marketplace link for sythe: Digital Currency and Non-Game Sales


If you need help or other advice I can help you out.



Also, you can just keep your coins on Coinbase, and "send" them to people who will be buying. If i were you, I would only accept Western Union and get the money FIRST if you are trying to sell. Don't scam people either. Try selling all at once if possible. Get a Middle Man if you are worried about trades.



If you are trying to sell Litecoin I would be interested.


You can also try selling your coins on LocalBitcoins.com , but the legality of this is somewhat shady and the steps to do it right can kinda be annoying, so I would stick with trying to find someone on sythe who is willing to buy.

Don't be scared to be cautious either. If you are going to sell crypto on sythe make sure you don't just trust everyone you see.

I would try to see if Arcus will buy your BTC for around 100%

 

Thanks man appreciate the help. I get what u mean now

 

sell your btc to @Kaii (can do sepa if your from europe & use the EUR currency)or @ARIBA

 

Thanks! <3

 

Cryptocurrencys held for over a year even if u don't cash out are subject to a 15% capital gains tax.