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Official BGOL Crypto Currency Thread ★★★★★

fourthstbully said:
having problems withdrawing money from Kraken. i was already tier 4 verified, so i was under the impression i could move 100k. now they are telling me i need to provide proof of source of funds. so i dont even have a problem sending them my tax returns or whatever, but as most of you all know, customer service on these exchanges suck, at best. so i am stuck, waiting to see if i will even be able to withdraw what i want, or if i am going to have to play the withdraw at a lower limit every month game.
nothing is more frustrating than niggas holding and playing with your fucking money. #heated
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I had to provide the source of funds when i did my first wire into kraken in January because it was a large amount. I just emailed them my tax returns, and I was good. I haven't tried to take any money out yet though
 
spaceage78 said:
I had to provide the source of funds when i did my first wire into kraken in January because it was a large amount. I just emailed them my tax returns, and I was good. I haven't tried to take any money out yet though
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thank you. i thought i was good money once i got the tier 4 verification, but nope. i had another layer of bullshit to provide, the proof of source. i just emailed my tax returns to them. hopefully i will be good to go after that.
 
I don't understand why they are asking for a source of funds on a withdrawal from profits made? The source is the coin. Rising is it not?? What does that have to do with the profits from a coin going up??
 
fourthstbully said:
having problems withdrawing money from Kraken. i was already tier 4 verified, so i was under the impression i could move 100k. now they are telling me i need to provide proof of source of funds. so i dont even have a problem sending them my tax returns or whatever, but as most of you all know, customer service on these exchanges suck, at best. so i am stuck, waiting to see if i will even be able to withdraw what i want, or if i am going to have to play the withdraw at a lower limit every month game.
nothing is more frustrating than niggas holding and playing with your fucking money. #heated

*UPDATED
the main point of me sharing this is to have your exit plan ready BEFORE you are ready to liquidate your funds. avoid being held up at the last minute when you need your money. prepare your exit strategies ahead of time. PEACE
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See. That's the bullshit I've been talking about for pages. Source of funds. Just fuckery. They have all your fucking info already, and play fucking games. This is why people pull out through numerous sources.

They just looking to try to keep folks money. What if it were an unemployed college kid who made the right calls? Lawyers are going to get paid off this game these exchanged trying to play with folks hard-earned money. In a game were coins go up 3000 percent, there is no need for source of income to claim money.
 
Dr. Truth said:
I don't understand why they are asking for a source of funds on a withdrawal from profits made? The source is the coin. Rising is it not?? What does that have to do with the profits from a coin going up??
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its all bullshit. but the worst part is the fact that customer support may or may not respond to you in a timely manner, so you literally are stuck on stupid. i'm going out of town tomorrow and i cant even have peace of mind because i want and need my ones!
learn your lessons from our mistakes fellas. have your shit lined up so that you will not have delays when you are ready to cash out.
 
BlkStrength said:
FYI,
As far as I know, If you purchase using coinbase, you can avoid some fees by transferring to Gdax first.

ex.. coinbase -> gdax -> binance
is cheaper than
coinbase ->binance
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ok a few days ago i tried to mess with gdax but something happened that caused me to forget about it
 
Mask said:
ok heres where I'm at


just shipped some Ethereum from Coinbase to Binance
purchased XVG with ETH just to get a feel for the operation(along with the short confirm time)

I'm downloading exodus like 6supaman9 suggested

now my next question is will i be able to send those coins from Binace to exodus or coinbase
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Yes... sending to exodus is seamlessly.... great for beginners... I have mine saved on a Zip drive and my hard drive for added security
 
cincitystudios said:
why would you do that? Once it hits coinbase the price is gonna be stupid! You get it now, you will automatically walk into a major flip
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I already have Ripple I'm saying I will export to my Coinbase wallet for easy bank deposit vs. Kraken and their bullshit. Right now we can't send ripple to coinbase
 
My ? is why these transfer problems all of a sudden, i had no problem in November when I cashed some out, what's really going on here.
 
spaceage78 said:
I had to provide the source of funds when i did my first wire into kraken in January because it was a large amount. I just emailed them my tax returns, and I was good. I haven't tried to take any money out yet though
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Ya'll better stop keeping large amounts of Coins (Money) on exchanges.
Hackers are at work Night & Day and if Kraken loses your bread they will NOT reimburse you
Keep your money on a Nano. Rule of Thumb, keep only 10% of your bread on exchanges
#Crypto

Side Note - DO NOT BUY A NANO FROM A 3RD PARTY
Only Directly From the Manufacturer https://www.ledgerwallet.com
 
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Coinbase users be adviced

Identified - Due to high transaction volume, we are currently experiencing delays processing wire transfers. Wire deposits and withdrawals may be delayed by up to 3 business days. Rejected & reversed wires may be delayed by up to 10 business days. Our team is working through these wires as quickly as possible and we are adding additional resources to get through the backlog. We apologize for any inconvenience this may cause.
Dec 15, 12:03 PST
 
An RnB Thug said:
Ya'll better stop keeping large amounts of Coins (Money) on exchanges.
Hackers are at work Night & Day and if Kraken loses your bread they will NOT reimburse you
Keep your money on a Nano. Rule of Thumb, keep only 10% of your bread on exchanges
#Crypto
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I didn't have any coins on Kraken or any other exchange. But I transferred bitcoins to Kraken to sell and cash out.
Any better suggestions for me to get cash are welcome.
 
gene cisco said:
All withdrawals are taxable. If you hold longer than a year, you qualify for long-term capital gains tax instead of short-term. You have to also remember their structuring bullshit and multiple deposits that seem like they trying to avoid the supposed 10k threshold.
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LegalMoney said:
Long-term capital gains treatment is when you've sold a capital asset that you've held longer than a year. Long-term gains is around 15%.

Short-term is a sale less than a year which is taxed at nominal income tax rate, meaning up to 42%.

What I believe you're referring to is whether the banks will flag your account for deposits more than $10k per month or whether Coinbase will issue a 1099 to the IRS for your sale.

Generally banks won't flag your account under KYC/AML laws unless they see odd deposits. But with crypto more mainstream I doubt they do so unless you really depositing anything more than $10k.

On the tax end if you bought and sold crypto within this year it's all likely subject to short term capital gains.
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I've owned only a fraction of bitcoin for 2 weeks. I put in $200 in coinbase and I've barely made $100 in gains.
So if I trade it to say binance for an altcoin, I'll get hit with this tax by 42%?
Is this 42% of the all $300 of that BTC that I would trade or are they gonna try tyo take whatever I earn from the altcoin?
IMO I missed tha fuckin BTC train while reading up on crypto in Oct and Nov.
I'm thinking I can get better gains with $300 in something else.
 
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monsterman said:
I've owned only a fraction of bitcoin for 2 weeks. I put in $200 in coinbase and I've barely made $100 in gains.
So if I trade it to say binance for an altcoin, I'll get hit with this tax by 42%?
Is this 42% of the all $300 of that BTC that I would trade or are they gonna try tyo take whatever I earn from the altcoin?
IMO I missed tha fuckin BTC train while reading up on crypto in Oct and Nov.
I'm thinking I can get better gains with $300 in something else.
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Buy 300 worth of ripple before it goes up next year
 

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