Best way to cash out Crypto?

Hey there frens,

let's say someone made a lot of money trading shitcoins / or leverage trading. This is purely hypothetical since I'm far from making it. That being said, what would be the best way to get his money out of the EU or the US without paying a hefty fee? I have heard people explaining it has to do with moving to a south american country for a year to become a legal citizen and registering with a bank etc.
Does anyone have information to share?

Thank you.

Sincerely,

an interested wagie looking to break free from the cage

what would be the best way to get his money out of the EU or the US without paying a hefty fee

Are you referring to obtaining money from someone unbeknownst to you?

Find someone to register an exchange account to, then use the exchange's credit card to withdraw or pay for stuff with the loaded crypto

Well you can use the crypto to buy gift-cards for Walmart or Curry’s depending on what country you’re in, then sell the goods for near retail price on sites like Craigslist, eBay or Gumtree. You may not favour this method but it’s completely anonymous and there’s no chance of it ever linking back to you.

(06-27-2022, 02:43 PM)Crumz Wrote:

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Well you can use the crypto to buy gift-cards for Walmart or Curry’s depending on what country you’re in, then sell the goods for near retail price on sites like Craigslist, eBay or Gumtree. You may not favour this method but it’s completely anonymous and there’s no chance of it ever linking back to you.

How would this work? Given you have to use a crypto credit card which has your KYC credentials linked to you.

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(06-27-2022, 12:00 PM)mothered Wrote:

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what would be the best way to get his money out of the EU or the US without paying a hefty fee

Are you referring to obtaining money from someone unbeknownst to you?

No, this was meant purely as a hypothetical situation where one would be located in the US or EU. I should have been more precise.

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(06-27-2022, 12:03 PM)Nabeshin Wrote:

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Find someone to register an exchange account to, then use the exchange's credit card to withdraw or pay for stuff with the loaded crypto

Wouldn't that person be fucked then? In this scenario I would be talking about major bucks, not a few hundred or thousand.


Again: this is a purely fictional scenario and I do not endorse this scenario in any way shape or form.

(06-27-2022, 03:29 PM)KoryKANE Wrote:

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this was meant purely as a hypothetical situation where one would be located in the US or EU. I should have been more precise.

All good.

I've moved this from the Social Engineering forum to Market Discussion.

(06-27-2022, 03:29 PM)KoryKANE Wrote:

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(06-27-2022, 02:43 PM)Crumz Wrote:

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Well you can use the crypto to buy gift-cards for Walmart or Curry’s depending on what country you’re in, then sell the goods for near retail price on sites like Craigslist, eBay or Gumtree. You may not favour this method but it’s completely anonymous and there’s no chance of it ever linking back to you.

How would this work? Given you have to use a crypto credit card which has your KYC credentials linked to you.

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(06-27-2022, 12:00 PM)mothered Wrote:

[To see links please register here]

what would be the best way to get his money out of the EU or the US without paying a hefty fee

Are you referring to obtaining money from someone unbeknownst to you?

No, this was meant purely as a hypothetical situation where one would be located in the US or EU. I should have been more precise.

---

(06-27-2022, 12:03 PM)Nabeshin Wrote:

[To see links please register here]

Find someone to register an exchange account to, then use the exchange's credit card to withdraw or pay for stuff with the loaded crypto

Wouldn't that person be fucked then? In this scenario I would be talking about major bucks, not a few hundred or thousand.


Again: this is a purely fictional scenario and I do not endorse this scenario in any way shape or form.

Is there ANYTHING that isn't tracked, besides cash? and good luck getting, storing and using that much cash
You could batch-sell your crypto (kept in offline wallets for anonymity) to other peers via paypal and such, but that's still tracked
I can't think of a way to get a suitcase full of banknotes in exchange for cryptos, and even if you did, how are you gonna spend that? Can you buy a house or a car in cash? Not where I live, for example, payments over a certain amount need to be trackable so it's just bank transfers or credit cards

(06-27-2022, 04:45 PM)Nabeshin Wrote:

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(06-27-2022, 03:29 PM)KoryKANE Wrote:

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(06-27-2022, 02:43 PM)Crumz Wrote:

[To see links please register here]

Well you can use the crypto to buy gift-cards for Walmart or Curry’s depending on what country you’re in, then sell the goods for near retail price on sites like Craigslist, eBay or Gumtree. You may not favour this method but it’s completely anonymous and there’s no chance of it ever linking back to you.

How would this work? Given you have to use a crypto credit card which has your KYC credentials linked to you.

---

(06-27-2022, 12:00 PM)mothered Wrote:

[To see links please register here]

Are you referring to obtaining money from someone unbeknownst to you?

No, this was meant purely as a hypothetical situation where one would be located in the US or EU. I should have been more precise.

---

(06-27-2022, 12:03 PM)Nabeshin Wrote:

[To see links please register here]

Find someone to register an exchange account to, then use the exchange's credit card to withdraw or pay for stuff with the loaded crypto

Wouldn't that person be fucked then? In this scenario I would be talking about major bucks, not a few hundred or thousand.


Again: this is a purely fictional scenario and I do not endorse this scenario in any way shape or form.

Is there ANYTHING that isn't tracked, besides cash? and good luck getting, storing and using that much cash
You could batch-sell your crypto (kept in offline wallets for anonymity) to other peers via paypal and such, but that's still tracked
I can't think of a way to get a suitcase full of banknotes in exchange for cryptos, and even if you did, how are you gonna spend that? Can you buy a house or a car in cash? Not where I live, for example, payments over a certain amount need to be trackable so it's just bank transfers or credit cards

I wish others could chime in here. That's my precise question. Only that it wouldnt be cash but cashed out in fiat on a bank that has a secrecy clause.

Then I guess an offshore account is your only option, and if you're talking about big money it's probably your only and most common solution

(06-27-2022, 11:44 AM)KoryKANE Wrote:

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Hey there frens,

let's say someone made a lot of money trading shitcoins / or leverage trading. This is purely hypothetical since I'm far from making it. That being said, what would be the best way to get his money out of the EU or the US without paying a hefty fee? I have heard people explaining it has to do with moving to a south american country for a year to become a legal citizen and registering with a bank etc.
Does anyone have information to share?

Thank you.

Sincerely,

an interested wagie looking to break free from the cage

Portugal doesn't tax crypto gains, if you want I can cash it out and send it via transfer wise or something