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Are these paper millions or is the money in his bank account? How easy is it to cash out crypto?
by secondcoming 5y ago
Are these paper millions or is the money in his bank account? How easy is it to cash out crypto?
- prog5 5y agoTo truly "cash out", I think you would need to trade into stablecoins or various other coins with low transfer fees (tether, neo, ada) then transfer to a multitude of crypto exchanges who have high enough limits to start converting to fiat. Those with KYC would then report earnings to the IRS. There are some without KYC (KuCoin) which you might be able to hide some earnings. 3rd option is get it into bitcoin, fly offshore and start cashing out from Bitcoin ATMs or offshore banks.
- gjs278 5y agoit takes 1 press of a button to cash out. stay poor