What is your cash-out strategy?

Hello all.

I would like to know your Cash out / take profits strategy in the crypto domain.

If a bear market come, what is your strategy ?

-Invest in stablecoin ? Are you profitable to do that ?

-Cash out to your bank wallet ?

It’s a real question guys. Somedy with good experience in this domain can share his point of view ?

Thank you all! Jordan.

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We use stablecoins like usdc (1 usdc = 1$), this makes it possible not to pay 30% flat tax.

Personally, I transfer my usdc to swissborg or Celsius because they offer a yield of ~11% for usdc

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Ok thank you for return.

How long have you been on crypto ?

2017

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Thank you for your answer. I think your way of doing things would be of interest to many members. If you have time, could you create a topic to explain the procedure in detail?

I think it would help a lot.

Thanks in advance. :pray:

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I confirm !

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“We use stablecoins like usdc (1 usdc = 1$), this makes it possible not to pay 30% flat tax.”

can you explain this? the flat tax of 30% is when you withdraw on your bank account, what is the link between usdc and flat tax?

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The rule is simple, if you convert your crypto profits into fiat currency (fiat = euro, dollars, yen …) you have to pay taxes.

Stablecoins like Usdc, Usdt, Dai, Busd are not fiat currencies, so you don’t pay taxes. This is the reason why we trade with stablecoins.

No matter where the money is, if you have euro profits in your binance account, you must declare it.

On the other hand, you cannot use your stablecoins in real life, that’s why I reinvest them.

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Use your crypto for your daily payment like ALL thing non-perishable! Buy amazon giftcard with your crypto, add the funds on amazon, enjoy bro

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illegal but smart

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Nice guys thank you for all responses.

It is better to cash out all of your crypto to usdc or cash out to diverses altcoin (in bearmarket) ?

Jordan.

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if you live in usa you can now buy a tesla with bitcoin

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I think you confused altcoins and stablecoins.

Yes you can use others stablecoins like Usdt, Dai, Busd. But in my opinion Usdc is the most reliable.

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illegal ? how ? why ? i dont understand

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if you convert your crypto profit into a gift card without declaring it to the tax authorities, it is money laundering.

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but how can the state know that i buy from amazon? because there is no trace on my bank account, moreover how can the state know that I have paid my gift card with cryptos?

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If they do a thorough investigation with a tax audit, they will find it.

They can know thanks to your crypto wallet all the incoming and outgoing transactions.

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I did not buy my cryptos with a bank card. I bought it without putting my ID or anything to identify me. I have anonymous crypto wallets

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Certainly, this will greatly complicate the task for them.

What I want you to understand is that if they really want to find you they will find you. But I think they have other things to do.

So yes they won’t waste time and money to find you but its still illegal and risky.

Little tip, if you want even more anonymity use Monero.

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Stable =usdc etc Altcoin = ETH etc…

Sorry for my confuse question…

So you think cash out to stablecoin is better. Ok i take your tips, you are better than me on this topic !

I suppose never cash out 100% but à large part average 70-80%?

@DamienD_G3

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