/biz/ - Business & Finance

>>26368108
Pay cash faggot

>>26368108
Find a better one who will accept crypto as proof of assets. This isn't 2017 any more

>>26368108
AHAHAHAAHASHASHHASHSSHAHSHSSHSAHAHANAAHASHAAHAANAHAHAHAAHAHAAHAHAHAHAAHAHAHAAAAHAAAAAAHAHAAAHAHAHAAAAAAHAAHAHAHHAHAHAAHAAHAHABSEVDGWWBBQWBWHWHWHYAAHHAHAHAHAHHWWWHYUAHAHAHQQHWWHHQHQ

>>26368108
Please elaborate. How could they not accept actual money because of the source it came from?
I'd guess you either have shit credit or you're trying to buy a house you can't really afford based on traditional metrics.

>>26368108
>My mortgage lender
>won't accept the money
>I got from cashing out crypto
How does "he/she/it" can know this?
> I cashed out my linkies
????????????????????????????
WHAAAAT?????? WHYYYY????

>>26368108
>My mortgage lender won't accept the money that I got from cashing out crypto.
lol bullshit

>>26368108
Kek, this means you’re placed on the terrorist watch list if you buy LINK.
Desu, only regulated coins like QNT and ALBT are safe to buy.

>>26368108
How does this make any fucking sense?

>>26368152
I could pay the $550k cash for the house but that would mean liquidating the rest of my crypto. Fuck that. I want to take advantage of these super low interest rates.
>>26368258
Wrong assumptions, dumbass. I make almost $200k per year and I have 780+ credit score.
They won't accept the $50k I moved from Bittrex because I can't "prove" that the money came from there. They're asking for account statements which Bittrex doesn't provide.

>>26368292
>>owning LINK makes you a terrorist

>>26368290
Not larping unfortunately

I sent my lender print screens and he accepted them. Try looking for a different lender

>>26368446
Just find another lender. Most would be happy to take that money. Go through a credit union and cool it with the antisemitic remarks.

>>26368446
Are you telling me you moved 50k straight out of bittrex to their bank account???
You are not telling us the full story, OP. Something is not adding up.
How can a company know where did money come from to your bank account?
wut?

>>26368571
the IMF is on the case about cryptocurrency "funny business"

>>26368446
Why can't you just say you've been stashing most of your salary under your bed ever since you started working?

>>26368108
same happened here
cashing out crypto give L2 cash, but lenders need Layer1
Shameless gas vultures!

>>26368108
>cashing out
LOLOLOLOLOLOLOL

>>26368571
>did it all in one deposit
they have to report that shit you know
you fucked up. should've split it up into 5 deposits of $9,999

>>26368571
This isn't about him not accepting the money for your mortgage payment, you just have to account for it.

When you transfer large amounts (probably anything over $10k) you're supposed to notify your bank in advance, or it sets off all kinds of alarm bells, and banks are pretty much obligated to report it.

>>26368675
I should do this but my closing date is less than a month away
>>26368724
I have to connect my account that I'll be using for the down payment. They can see all my transactions in this checking account.

>>26368571
>UNLOADING 50 GRAND ON YOUR BANK WITHOUT NOTIFYING A GODDAMNED SOUL
ANON WHAT THE ABSOLUTE FUCK ARE YOU DOING. THE FEDS SRE GOING TO KICK DOWN YOUR DOOR, YOUR ACCOUNT IS GOING TO GET LOCKED AHHHHHahhhAhhhAHHHHH

>>26368868
Ahh, so now it's very clear.
Look again at >>26368867

>>26368814
Unfortunately, this also might be frowned upon. Even though it's technically legal, they claim you're trying to circumvent reporting rules.

>>26368867
>>26368931
I've moved sums of $25k to $100k back and forth on crypto exchanges since 2018 with no issues. The problem is with the mortgage lender thinking the money is not mine. Even though I sent them screenshots of the buys and sells and wire transfer statements from my bank.

>>26369093
You’ve unloaded 100k on your bank and they never said shit to you?

>>26369093
>back and forth on crypto exchanges
Back and forth from bank to exchange as well?

>The problem is with the mortgage lender thinking the money is not mine.
This happens with all large, sudden, unannounced deposits into bank accounts.
Banks have to treat them as suspicious, it's the law.

>>26369172
>Back and forth from bank to exchange as well?
Exactly. USAA is crypto friendly. These faggots at better.com are not.

Yeah banks are shit like this. You can either let the money sit for 6 months to a year, pay cash or ask tech support for a letter from bitfinex. If none of those are your options, get some good whisky and a different house next year.

>>26369231
It's not normal for banks to allow such large transfers without asking questions or even reporting you.

>>26368108
>That means I cashed out my linkies and ETH for no reason and it's a taxable event
Don't worry about it, the kikes are going to tax you for unrealized gains anyway.

>>26369263
Yeah I asked Bittrex to generate an official statement for me. They haven't responded yet though.

>>26368446
>>26368571
This doesn't make any sense if your bank is approving the transfers since they are over $10k.

>>26368446
1) The story sounds odd to me. Bittrex would be useless if you can't cash out through them. Hasn't anybody brought this up publicly before? Make your problem, their problem. Get them to help you. Can they at all? If not, start making it a problem for them by posting the story everywhere. Crash their exchange if they won't help you.
2) If it's the right house (with actual land, not a generic McMansion) I'd take the house over the crypto. Land is the only close to sure thing in life. You're going to have a lot of money every month to play with if you're not paying a mortgage. While interest rates are low and it's a good time to buy a house with a traditional mortgage, now is also a good time to get back into crypto with the slight dip and uncertainty over things. (PS, if you pay cash on a home, you might be able to negotiate a better deal on closing costs, or getting the owner to throw in the current appliances or something)

>>26368108
I don't think you understand mortgages. People have been known to get their friends or family to give them a large sum of money so that they can get a mortgage they can't really afford. Then they give that money back to their friends/family. This isn't about crypto. This is about your account looking suspicious to the lender.

>>26369498
Read my posts again. My bank and Bittrex are good. My only issue is that the mortgage lender won't allow me to use the money I cashed out towards my down payment and closing costs.

>>26369645
It's not that difficult.
You deposited a large sum and an internal alarm went off that they can't ignore.

>>26368108
You fucked up, in more ways then one, I can’t even

>>26368108
>I cashed out my linkies
Anon...

>>26368571
>50,423 in A SINGLE DEPOSIT

Holy keke you are stupid.

>>26368108
Is it a good plan to just hodl the crypto until governments don't exist anymore and you can finally spend them without going to Ja1l?

>>26368108
You triggered an anti-money laundering control. For all the bank knows, you could have gotten that 50k from human trafficking proceeds since it landed in your account from an unknown source. They need to verify where the money came from to allow you to allocate it towards your mortgage so that they are compliant with AML laws. Not sure why you are surprised

>>26369231
Eye opening thread until this comment. This shit isn't surprising when you use some faggot nu-male lender that no one has heard of. Just went to their site and it looks like it was made by a low t basedboy of the "tech" persuasion. They market with no fees or w/e and the result is they offer no service.

I have to go to work now guys. My other options are to liquidate some of my stocks or borrow from my 401k to pay for my down payment. Or I can try to find a different lender but they might fuck with me too.
Thanks for listening!

>>26369875
>dude just get charged criminally for structuring

>>26368814
>should've split it up into 5 deposits of $9,999
This is structuring, which is illegal and far dumber than what OP did.

>>26369373
They probably will come through, this isn't an uncommon occurrence

When I was buying a house I had to do the same thing, prove all income that wasn't directly on my W2. Pain in the ass for sure but a friendly loan guy definitely helped.

>>26369991
Is structuring doing deposits to avoid alarm bells? ie, deposits of $9,999 over and over?

really? americans cannot transfer $50k to their account without landing in guantanamo? kek @ this country. i cashed out more in a single transaction in germany and had it available on my checking account within 24 hours without telling anyone.

how do you cash out your profits anyways without triggering anti-money laundering shit?

>>26370323
Yes. You might get away with it if you do it smarter, but $9999 every 29.999 days is the easiest way to go to prison.

OP, I've transferred $50k to a credit union from coinbase multiple times, and got a mortgage approved by a credit union with the downpayment all coming from those crypto moneys. Switch banks.

>>26370366
>>26370373
Save all your records. There's nothing illegal about depositing a lot of money, and if you did your taxes the IRS shouldn't care about the automatic report. I intentionally deposited just a hair over 10k a couple years ago just to see what would happen, and nothing did.

>>26370423
Yeah probably get a more crypto friendly bank. I'm sure fellow /biz/ anons know

>>26369991
AT LEAST TELL YOUR BANK YOU NIGGER. Or do it on something like Coinbase which provides receipts

>>26368108
False
I’m doing it. You need to prove the paper trail of the investment.

Why not send your monies to your relatives bank account and then have them give the money as a “gift”?

>>26368108
Because you don’t have a mortgage lender, or crypto, or foreskin.

>>26369231
Why the fuck don't you just finance through USAA if you're already a member?

>>26368108
>cashing out link but still applying for a mortgage

>>26370405
Why would you go to prison for transferring your own money?

>>26369164
I unloaded several times that during a cashout to pay off my mortgage. Told the bank about it before hand and neither the bank or the lender said boo about it. Feels good owning my residence outright.

>>26370423
This. Credit unions don't give a fuck and will underwrite anyone with a pulse.

T. Bankfag in the know

>>26371646
Because it's a federal crime. Transferring money to a bank with the intent of hiding the transfer from auto-report requirements is illegal, regardless of whether or not the money itself is clean.

>>26372222
checked and thank god /biz/ isnt entirely full of newfags who arent aware of the most basic financial laws (as shit as they may be)

>>26368108
>mortgager doesn't accept money

Which fucking third world country are you from?

>All these retards not believing a lender would require information on where a large sum of money added to your bank account recently came from
Is almost everyone on /biz/ underage? Your lender tears your financials apart looking for anything suspicious or indicative of a less than reliable source of income or pointing towards other bills you won't be able to juggle well enough when you try to get a house, as they should because that sort of scrutiny was lacking in the past and the core problem underlying the 2008 subprime lending crisis.

>got 15k linkies
>plan on cashing out when it is valued at ~36 mil or so
Tbh i have always wondered what happens when I do go to cash this out. But ive never bothered to research it. Any anons have any ideas?

>>26368571
>>26369989
you can send them the etherscan page, that's irrefutable proof of a transaction. They can even test if it's your wallet by sending small transactions to you. Of course these boomers are too stupid and won't do this, but you can prove it. If you actually owe them money (sounds like you're asking for credit, not trying to pay something you own) they are literally fully completely literally 200% obligated to accept any and all USD for all debts private or public that you offer, or else you can fuck them with the feds. Anally.

>>26368571
the chainlink holder iq bellcurve meme is real

>There is only one mortage lender in the whole USA
The fud becomes retarded. Not going to even think about using a fraction of my gains to buy some boomers real estate bags with all the shills here

>>26372774
If you end up with millions of dollars to cash out from crypto make sure you get an accountant at a minimum and maybe even bring in a lawyer. Better to pay the relatively small up front cost of having everything done the right way and thoroughly documented than to wing it and get the IRS coming after you later on.

>>26368571
Kek my sides
I thought you were larping

>>26368108
>won't accept the money that I got from cashing out crypto
yeah sure they didn't, post nose or stop larping

>>26373097
>please please I have a boomer buisness and we need work
>Use our expertise from the late 70's
Glad link will destroy the white collar middle class boomer jobs

>>26373097
Yeah thats what i was planning on doing. I dont even mind paying the taxes on it, but obviously the less i have to pay the better. It feels fucking weird, cause I have obviously zero experience with this sort of thing, seeing as how ive always worked relatively menial jobs. Yet i know i am due a massive payday sometime in the hopefully not too long future.

>>26373032
there's millions of lenders but it all comes from frannie freddit macmay goldshire jewingham, and all that comes from government backing. So really there's 0, it's just the fed.

Honest question, do you just call up your bank and say "hey, there's gonna be a deposit of $XX,000 from Coinbase in a few days" before you cash out?

>>26372314
Not in my country :)

>>26373251
Do what you want, but you're completely retarded if you don't see the value in having an accountant document everything for you in a one-time cash out in the millions of dollars. You're effectively saying you want to risk millions plus criminal liability in exchange for not having to make a one-time payment of $100.

>>26369645
Let me break it down into Jew speak for you

So yeah as another anon stated the lender is under expectations of "due diligence," in the form of being assured you can afford the repayment of these monies (the mortgage) that they are about to bestow upon you. As you must not have disclosed your crypto holdings as assets in the application, you essentially springboarded a funding source on them in the middle of the loan process. Any fresh large sum transaction that recently appears in your bank account to cover the down payment is suspect. Externally it looks like you just loansharked the 50k for down money or borrowed it from a friend/family member. They will not assume the risk of approving the loan without some credible proof that you aren't doing risky business to come up with the down; that these monies are fully yours and yours alone to give in order to qualify for the loan. If you have a way to show this proof, they will likely approve the loan and a bank or investment statement is the standard thing to ask for as that is industry standard accounting practices. What this means is any reports, documents or account balances that you can provide to show where these monies came from that proves your ownership and dispels the loanshark/borrowed money concern should suffice. Use your noggin and address the concern in the most legitimate way possible.

Good luck, and to any anons reading this, have the down cash for a loan in your account 6-12 months before the loan closing process if it will not be coming from standard sources; i.e. payroll checks.

>>26372616
My lender was very confused about my hundreds of crypto transactions, I had to send them literally dozens of 100-page documents, but seeing as I have a good job and it didn't effect my total pile of cash they wanted their grubby dicks inside of much they didn't really care.

>>26373484
This, good post. They also get super mad if you open up any new lines of credit. It's also very important that you have physical paper checks attached to a checking account with a good amount of dosh in it, as some fucking banks are being weird with wire transfers, and some fucking lenders are being weird with anything other than a check to boot. It's quite shocking for those of us coming from the future of crypto here to see that outside of the internet these assholes make it so difficult for you to use your own money.

>>26373484
I recently got a gift of £13k from a family member. Would I have an issue if I went to my bank for mortgage and use that as part of the house deposit? Or are you saying I need to keep it in my bank account for at least 6 months first.

>>26372222
I see. The issue is intent. I read the post as "if you make a large withdrawal you going to jail"

>>26374569
No your family member just needs to sign a letter saying it was a gift and you don't know them. Before anyone tries to attack me. I am not a NEET and have done this twice.

>>26374795
I do know them. It was a legitimate gift and the money is from a legitimate legal source. But the family member does live overseas.

>>26368108
your mortgage lender is retarded. you should kill him in minecraft

>>26370423
>>26371878
good to know. desu I'd probably pick up a mortgage from them anyways. they own pretty much all my loans, lot better interest rates through them.

>>26374569
Not necessarily. As another said a letter showing it was a gift will help. Make no mistake though, it's definitely raising a flag letter or not. Try to avoid such things in the 6 months prior to applying for a loan. If you do, just disclose it up front and ask what kind/if needed documents they want on it. There's nothing wrong with it, just don't handle such things suspiciously or try to hide it. The primary issue is the lender having assurances it's really your money to put down.

>>26374569
I see you're a UK anon. My parents recently gifted my bro circa £60k to pay towards a deposit and the conveyancing solicitor wanted to see where that sum had come from. Had to provide a shit load of bank statements etc etc. £13k they might not be so concerned about, but get ready to deal with such a request just in case.

>>26374887
Lol I meant to write don't owe them!!

>>26374910
They'd be retarded not to do their due dilligance on a sudden random $50K deposit to the bank account OP provided them visibility on for the exact purpose of demonstrating where his money to pay for a mortgage is coming from you.
There would be no point in even having an underwriter if they didn't care where your money came from.

>>26374910
They'd be retarded not to do their due diligence on a sudden random $50K deposit to the bank account OP provided them visibility on for the exact purpose of demonstrating where his money to pay for a mortgage is coming from.
There would be no point in even having an underwriter if they didn't care where your money came from.

>>26368511
>>>owning LINK makes you a terrorist
BULLISH

>>26368446
Get a parent to write a letter saying it was a gift towards the house and that it in no way leaves them as a part owner.
There is plenty of draft legal statement stencils that they can use

>>26368108
>find seller on localbitcoin
>ask if he's interested in buying/selling for cash, he can have a 5% margin compared to market price
>most will say yes
>better 5% than the >20% taxes
>pay for everything with cash
As in everything, except house and car, buy giftcards with bitcoin and buy whatever you need from amazon, and for the rest use cash.
There is no fucking way I'll pay the jew 45% taxes (I'm a euro) so he spends it on laquisha and mohamed.
I'd rather stay poor and never sell than pay taxes.

There is a reason all millionaires have a huge drawdown early on in their careers. Once you suddenly come into more money than you have ever had, you think you're the shit but where they get you is the laws.
Poor people are ignorant to the laws that exist, they think now that they have the money, they are rich. Same reason why most lottery winners go broke. Knowledge of law and risk management is KEY

>>26368446
>Salary of $200k per year
>Can't scrape together $50k in a "regular" bank account
OP, you're just dumb
Did you think a bank was really going to let you use crypto for a down payment? Crypto that they have no idea what the source actually is?

It's a down payment - you need to prove to them that it's your money and you aren't just getting a loan from someone or a gift or something. That's the whole fucking point. Of course they're not going to just let you transfer in crypto from an unknown source.

Also why the fuck do you think big money people use exchanges and "custodial" services? It's for exactly this purpose - to prove that the money is yours and not just being transferred in off the street.

If you want a loan from a bank you have to play by their rules. Save fiat for the down payment. If you ACTUALLY make $200k per year how do you not have $50k in a cash account somewhere that you can tap?

You didn't think you could actually USE the money you got from Chainlink, did you stinkies?

>>26373465
documenting my trades, swaps, loans... myself, I don't need a lawyer or an accountant to keep a ledger, which is basically a macro away from being completely automated

So if I already have a mortgage, am I going to have the same issue, if I tried to pay off the mortgage with crypto cash outs?

>>26368108
OP I pledge to buy the house from you in 3 years for 12 LINK.

>>26375858
"Yes Officer, I recieved this $2 million gift from my sister. No, I don't know who she is, I've never met her, no, I don't know her name. No, I've never been to that bank, sir. That's not my gold. I'm holding it for a friend. No, I never met my friend. You caught us on camera? I've never seen that camera. Must be somebody else."

>>26375858
lol that makes more sense. It shouldn't be an issue for me to get a letter if requested.

>>26375688
Yeah North of England so 13k is a decent chunk for a deposit. Not sure how i'd prepare to prove its my money with no strings attached but i'll talk to my bank manager when the bank reopens.

>>26375592
I'll probably be waiting another 6 months before I buy anyway but i'll fully disclose all my finances, except perhaps my 3k in crypto which I don't intend to cash in anytime soon.

>>26368108
Makes no sense. Cash out then put that money in your bank account. Use that money to get your loan or whatever.

You have to use money that already existed in your account to get a house loan though. That's always been that way. You can't get quick cash loan from a friend or anything else. This has nothing to do with crypto.

>>26368725
>Every bank in EU has been doing money laundering
>BAN CRYPTO

They want you to stay poor.

>>26368108
Get someone to cosign for your mortgage. Your problem is the bank doesn't recognize your assets but a relative might and be able to vouch for you.

Something doesn't add up here at all. If you cashed out through an exchange then why is there no record that the exchange can provide you?

>>26378357
What? No. Once you already have a mortgage they will take your money and not care where it came from.
Lenders only scrutinize someone before approving a mortgage so they aren't lending to every retard with a lump sum of cash for a down payment who otherwise has no job and no reliable recurring source of income.

>>26368931
The fuck are you autists talking about, I have 0 problems cashing out. None. I've already moved 20k of this into my brokerage account as well, no issues at all.

>>26373408
thats good for you but we arent here to discuss financial laws of bosnia. US, canada, australia, and west europe are more pertinent

>>26368108
ETH lending will come in time. 5 years or less I'd say.

>>26369875
Are you 12? It’s illegal to send smaller amounts in an effort to avoid any kind of reporting. Kys child.

>>26379618
He did have a record. The lender wants some sort of official statement file export that Bitfinex doesn't provide since it's not an actual bank.

>>26373484
That is some kike speak indeed. Thanks for clarifying, fren.

USA land of the free lmao. They like to laugh at Europeans but at least I can cash out 100k without hearing a single complaint by the bank.

Hi
Structuring EFT is pointless, the $10k rule applies only to physical cash transactions.
You think anyone has time to report all of the millions of checks and wires that happen every day? Lol
Banks really just want to know if you're getting pajeeted.
Ok
Bubye

C’mon man find a better lender.
9 out of 10 would accept the $ and process the loan .
I just had a 1200 square foot guesthome built and paid for in ETH.
Yes the contractor accepted ETH as form of payment throughout the contract payout schedule.
The times are changing.

>>26380182
our regulators are just lashing out at anything and everything in order to destroy the middle class. it sucks knowing they're coming after me with everything they can get away with without stirring up an insurrection.

>>26380749
It truly is terrible what has happend to America the past few decades

>>26380182
I can do that with my credit union, but it's polite if I call them first. Banks are for zionists. European GDP even at PPP is fucking miserable, add your 20% tax and 20% vat on top of that and it's amazing you fucks can even afford to eat. You don't even get those amazing American corn subsidies!

>>26380849
I get so angry when I think about it but it's just the next step. The giga corps want to absorb all small business. That means chewing the middle class into a paste and swallowing it. Then after they have us fully enslaved, they own all goods/services and we must interact with them to live. After we no longer exist I imagine the rest of the story is mergers/acquisitions until we only have 2 megacorps left that will duke it out for dominance. Hopefully by then the warfare will be kinetic and we'll all be put out of our misery.

>>26368108
Recently saw some property for sale with (Bitcoin accepted) at the end. We are just getting started.

>>26373484
6-12 months?????? I was planning on doing exactly like OP just cash out funds for a down payment and use that for a mortgage. Wouldn't they want to know where this money came from 6 months ago? The loan process i thought was about 30-45days.

>>26379736
>brokerage account
You can do this? They have routing and account numbers?

Similar thing happened to my friend who was a waitress. She saved up $50k in tips and the bank refused to accept it because there was no electronic record to prove it wasn’t dirty money. Fucking Jews.

>>26368571
We have dozens of posts every year explaining how to move large sums of money in a bank. Ask next time buddy we are all in this together.

>>26368108
WTF really ? That does not make sense

>>26382374
yeah, how else would you fund them?

>>26382745
It makes perfect sense if you've ever bought a house.

>>26382818
I have an account with a trading desk, but coinmetro does this stupid plaid crap so i dont see the option

oh nvm i see minus the fees

>>26382427
What did she end up doing?

>>26368571
Just how stupid are you OP? Serious question.

so if your cashing out say sub 10k would the lender still give you a hard time?

>>26368108
>My mortgage lender won't accept the money that I got from cashing out crypto.

Im lost. You may have worded the way you made your income differently and they suspect unknown source of your money? People live off trading, and that includes paying off debts and other financial commitments, no?

>>26383533
A lender will mostly want to see that you have a real job with regularly recurring pay checks at or above the amount expected for someone who can reasonably afford to take on a mortgage of the size you need for the price range of houses you're looking to buy in.
If you don't have that your lender will at a minimum scrutinize you more than usual because you aren't a normal person they can easily trust to make payments.

>>26369284
>It's not normal for banks to allow such large transfers without asking questions or even reporting you.

It is if you notify them about it before hand and it becomes a regular thing because you're cash rich, though.

>>26383641
>People live off trading
Yes, and people with atypical ways of earning a living that don't show up as neat and easy to follow regularly recurring pay checks from a single corporate employer don't have as easy of a time securing a loan for obvious reasons.
Even those girls who got houses from onlyfans money wouldn't get approved if they didn't have cosigners.

>>26368571
That’s standard. You just have to provide some trade history. Or send the bittrex withdrawal history. Either way.

>>26368571
>>26368446
Just print to PDF bro

>>26368108
>he thought he could cash out

>>26368108
nice LARP you lonely faggot

>>26384775
See:
>>26368571
It's baffling to me how many of you think this is a strange or hard to believe scenario. I would be much more worried if lenders didn't do this since it'd mean we were heading for another 2008. Lender scrutiny of atypical account activity is a good thing.

Is this a problem with buying too? My plan is to buy a cheap house outright with some of my holdings. I'd just let the bank know they'd have a 120k-ish deposit coming in.

>>26384951
If you're not taking out a loan nobody can stop you from buying (except the seller if for some reason he doesn't want cash which I don't think any seller will say).

>>26369093
Can't you just take the page showing your withdrawal from Bittrex and export it to PDF somehow? Sounds like they just want a PDF.

>>26373369

someone answer this question please

>>26375688
Wish I ever got anything from my parents

>>26373369
>>26385033
it depends on the bank. just call and ask them. i asked my TD Bank and they said they don't really care about deposits, only withdrawals for security purposes. but either way they report it tho obv

>>26368571
Im a loan processor OP. tehy just want to see the source of funds of the $50k. bittmex or whatever the fuck can provide this. just treat it like a brokerage account they accept those all the time you dumbass

>>26369093
whose your lender OP? Im in the mortgage industry, i can refer you a non shit company if your in CA WA OR OH FL TX PA AZ CO

>>26368446
this cocksucker doesnt take screen shots?
a 4channers screen shot is the ultimate proof something took place

>>26368446
seriously? just tell them to tongue your anus and that you're going to another lender.

>>26368446
>no worries, thanks for your time, good luck to you and your firm.

Watch her beg

>>26379703
SHUT THE FUCK UP

its hardly a surprise they dont want to accept money from some random shitcoin sale when it could literally crash 10x in the next year leaving you no way to keep up with your mortgage.

the way to play this is to take loans out against your crypto to the entire value of the house. if you dont have enough for that then you're fucked.

>>26368108

>>26368108
F U N N Y M O N E Y

Israel has no right to exist.

>>26386685
How does one explain origin of that borrowed money? You can't even tell them you sold crypto.

>>26368675
Suck shit demon kike

>>26368108
Please tell me this is a joke of a schizo thread

>>26368108
I didn't have a problem, but they did ask me for two month statements. I just explained that there is no statements and took a screenshot of my gemini account that was used to withdraw the cash.
Often an idiot gets assigned to handle the initial paperwork regarding mortgage loans so they might respond with something like that, but their boss would probably be fine with it if it looks legit.

>>26368108
is there a reason why you can't get clean money? ever thought of suterusu?

>>26368446
Fug the lenders OP.
They should be shaking in their boots that their whole business revolves around giving money out now in loan and they'll barely beat inflation with their margins as the money printer continues to go brrrrrrrrrrr. Yet here they are saying your money isn't good enough because it came from Crypto? Fuuugg man.
Just see if you can print out the PDF I guess like they say here. Although I think they only want to see it to make sure you're not some drug lord or something. Protocol probably requires it, so don't think anything too much of it. Crypto is still very new for buying physical assets and transferring large amounts of wealth to fiat bank accounts.. If they keep giving you trouble and unclear advice on how to resolve the issues THEY'RE creating over your money, then maybe find someone else
Also make sure to ONLY buy a house somewhere the value is going to appreciate when inflation hits.

>>26368108
Lmaoooooooooooo dude what the fuck, how can you be so dumb this has to be fake lmao

>>26387618
It's not a joke. If banks didn't care and just gave anyone a mortgage without making sure they had a real regular income and weren't just using drug money as a down payment then you'd get another subprime 2008 collapse. They don't make enough to be profitable if too many people approved for a mortgage end up not paying them. PMI only offsets some of that. They still can only run a successful business by having most of their borrowers be reliable and pay them back.

WAIT WAIT WAIT
If we buy a token n uniswap, and farm it, and make a lot of money, then transfer that back to eth->euros->bank

what kind of proof would the bank need?

ethereum transaction hashes?

>>26387841
They would want proof of a real job. Having enough for a one time down payment doesn't mean you'll be able to make mortgage payments each month.

hwo do banks account for staking and farming? what proof do we have of that?
There are no receipts on decentralized exchanges either.
What the FUCK do we do, how do we cash out? WTFF

>>26368108
I don’t believe you.

>>26387919
im not talking about down payments, simply cashing out to your bank

>>26387951
>>26368571

>>26368446
Give it time. Congratulations on making so much in crypto btw. I love to see anons make it

>>26368108
Wait three months. Then it doesn't matter where the money came from

>>26387222

>>26368571
Just say you made it doing crime.

>>26382498
How should you?

I've a lot in crypto that i just never touch but to be honest thought it could just draw out if needed.

>>26373369
>>26385033
If it's a reputable US exchange like Coinbase, you should have zero problems withdrawing if you live in the US (especially if you've deposited from that bank account to Coinbase multiple times before). Maybe call ahead of time if it's 6+ figures.

>>26388280
Very nice input anon.

>>26388280
for big sums (50k for example) dont you have to show where you bought the token/coin?
how can you do this for stuff bought on uniswap or other dex's?
How can you prove the stuff youve staked over time to a bank?
(staking 32 eth for example)

OP sounds like a turbo autist who is getting fucked around by some jealous state college accountant at the bank

just start ignoring the fucker and find a different bank. think like a boomer, or get a boomer family member to help you reroute the $. don't be cucked, most of these shits at banks make commission siphoning money out of little old lady's bank accounts hoping no one notices. seriously, the big banks practically go out of their way to hire retards out of the stock shelves at Target to handle peoples' transactions. they're lowlives

>>26388518
You just swap it for monero then back to a normie coin and transfer to an exchange.

>>26388518
I'm not sure about dex's. The good thing about Coinbase is they provide statements for all of your holdings so even though you most likely can't avoid taxes, you have verifiable proof needed by your bank or lender to claim that the funds are rightfully yours. This is what OP needs for his lending situation.

>>26388804
>>26388608
you guys dont understand

say you buy 10 ETH on coinbase, you transfer that to uniswap, buy a shitcoin farm that, the shitcoin pumps, you're now a millionaire, you switch it back to ETH and you send back your 1000 ETH to coinbase.


How do you justify the 990 ETH more.

>>26371711
This is probably the winning move. Have a good relationship with your band and let them know what's going on and they'll help you out every step of the way unless they are one of those banks that blocked crypto to begin with

>>26368571
This is kike bullshit. It's none of their fucking business where the money came from

This happened to me too in 2017, they wouldn't accept my down payment cause it was all cbase deposits. We ended up waiting 2 months to close. One the money was "seasoned" (in my account untouched) for 2 months the bank approved it. Good luck anon and fuck boomers

>>26368446
Dude I did this same thing myself. Just find anothe rlender or wait the 30-60 day seasoning period. After that they dobt care where it came from

>>26388932
just say you found them lol

americans are so cucked its unreal.

>>26388932
I'm wondering the same thing. I think you need to have plan.
1) deposit smaller amounts to your bank over 3 month period. Around 5 to 7K

2) Let the money be seasoned for 30 to 60 days

3) Pay your taxes at the end of the year.

>>26388932
1. You use XMR to wash your trades.
2. You don't withdraw in a lump sum.
You move the ETH to Coinbase or Kraken, convert to FIAT and then withdraw in smaller amounts.

>>26368571
If you would have just let this money sit in your account for like 90 days you’d be good as gold.

>>26368169
Literally no brick and mortar bank accepts crypto as collateral. There are a few start up sketchy places that will take your keys and give you a personal loan type rate. Fuck that.

>>26391551
I'm in the process of working with one right now that is just wanting me to show I have access to the funds on my ledger. No way I would ever give private keys. It sounds like it's going to workout but still in disbelief

so the steps are
1. call bank to let them know your about to drop a fat log
2. prepare receipts
3. deposit your gains
am I missing anything?

>>26391828
PLEASE give info sir. I'm in same situation as you and OP wanting to make a move, but I'm extra fucked because I'm still furloughed and only have a few k in the bank.

I've been looking at DEFI, but the chance of a temporary crash and losing a big chunk of my Link scares me.

>this entire thread
Defi really is the future, lol

>>26384999
According to facebook groups on where I'm buying, cash is preferred and gives you an advantage compared to other buyers, though I'm not sure why.

>>26389419
Agreed i fucking hate Jews and the usury/jewry they propagate, i really do hate them for that and white guilt and migration.

>>26368108
I didnt read this thread but shit its not like theres only one lender
Well ultimately (((there is))) but dam son, there is more than one outlet there.

>>26368108
You would need to keep the money you cashed out from Bittrex in a depository account for 60 days to source it unless you have statements from Bittrex showing account activity for the last 60 days including activity.

t. loan officer

>>26393181
It's superior in every way to centralized banking. They're terrified of it.

>>26393213
>grug like paper
>grug like sound it make
>grug feel happy when grug hold many paper

>>26368571
The responses to this post have made me realize that I'm the only person in this thread who has bought a house.

>>26391551
>There are a few start up sketchy places that will take your keys and give you a personal loan type rate. Fuck that.
All of them run by sanctioned countries, most often Venezuelan, or North Korean, if you don't pay they kill you

>>26391828
>>26392744

BUMPING my own question.

If anyone knows of a legit bank that will accept proof of my Crypto as collateral for a mortgage please inform me. I'm in same boat as OP except not currently employed and just average credit score. Meanwhile, I have 1.5 million worth of Link.

>>26389419
>This is kike bullshit. It's none of their fucking business where the money came from
It's their money they're deciding to loan out or not you retard. They're 100% within their rights to want visibility into your bank accounts and paperwork on where suddenly deposited one-time large sums of money came from.
Jist because you have money for a down payment doesn't mean you should be trusted with a loan for thirty times the amount of that down payment. If you give everyone who has down payment money a loan indiscriminately you're going to get another 2008.

>>26368446

Put the house in someone else's name

>>26394020
I like all the posts in this thread where the poster is convinced no lender could ever actually raise an issue with $50K from PretendMoneyLaundering.com showing up in a single deposit overnight. Like you're just going to the mortgage store and putting your down payment into their vending machine to get your free money and nobody's supposed to look at your financials.

>>26394887
That's how those onlyfans whores buy houses (simp co-signers).

>>26392534
I just called my bank and told them that I was going to transfer some funds off my brokerage account from investments that I made long-term. He said an IRA? i said no, coinbase. He's said. Hmm. I said. I brought using our account. Aka my checking. Told him a small portions above $10k under $150k my coinbase limit. He said as long as coinbase is cool with my withdrawal limit i have no issues depositing into my account, it will be noted as ready to be funded "coinbase'

>>26368446
lenders are a dime a dozen. find another.

oh, one other thing. how long can you wait? you'll be able to buy 3-4 houses for 550K in the coming months.

>>26391245
do you feel safe leaving that much cash on an exchange?

>>26368571
NGMI.

>>26388932
Why can’t you just say you got the money from the shit coin? Why do you need to launder it?

>>26368108
in the off chance you'll actually see this...

I just went through this process. had dumped large deposits that my bank didn't like the source of because they couldn't show 60-120 days of the money's history. do you have any close relatives you trust with money? what I did was cash out the money through someone else (going to pay that portion of their taxes this year) then have them "gift" me the money. my bank was fine with a gift letter and the deposit to my bank with no further history.

it's stupid, money is money, they should take it but they have specific rules they work under.

>>26395922
>you'll be able to buy 3-4 houses for 550K in the coming months.
You can already buy 3-4 houses for 550K. Just not very nice houses.
If you mean there's going to be a housing crash in the next few months I would bet a lot of money against that. In fact I'd bet against the next two years having a housing crash. They gotta raise interest rates again first for one thing and the Fed's not raising them for at least another two years.

>>26396187
Jesus, I think it would be easier and less trust to have the person co-sign. Having them deal with the taxes from that would be a fucking headache.

>>26369991
It's not criminally structuring if you committed no other crime retard

>>26396375
Definitely not less trust. The gift approach means you're potentially liable for taxes on tens of thousands of dollars which would be maybe a smaller 5 digit number paid out to the IRS at absolute worst. Co-signing makes you liable for the full price of the house.

>>26373484
The underwriters only really flag suspicious shit for the previous 60 days from when you start your process. Money older than that is considered "seasoned". Then again it will depend on who you're dealing with. But op literally did the dumbest thing by getting 50k and then immediately trying to use it as a down payment lol

>>26379736
screen shots of cashing out, the fud is peaking, here we go

>>26395213
Seeing such a disgusting pig make so many simp dollars is extremely demoralizing.
I literally cannot understand. Attractive internet whores are numerous, but she is objectively ugly and still makes bank.

>>26368446
> Cash out at a broker that doesn't give statements
> Bawwww
You idiot

>>26397305
The men giving women like that money think they'll have a better chance getting a gf or sex out of the arrangement if the women are less attractive.
It's like pursuing a house that's not as nice seeming to avoid dealing with a ton of competing buyers beating you to close.

>>26397389
That makes sense and has given me a new perspective on this living nightmare world I am forced to inhabit.
Even though they are not me, seeing other men debase themselves like this feels really fucking bad. It's shameful.

>>26396681
100% false. Google denny hastert. He’s in prison right now only for structuring and nothing else.

>>26372222
Jesus Christ that's a bullshit law.

>>26368814
>>26370066

The penalty's for structuring are WAY stiffer. A one time deposit of 50k isn't that big of a red flag. 5 deposits of 9,999 is an instant huge red flag. You will have the IRS on your ass quick.

>>26368108
It's because your funds need to be seasoned for a certain amount of time retard. Leave them in you account for a few months and they'll stop giving a shit.

>>26395213
>retweeted by IRSnews

>>26397597
Nothing to do with the fact that the money he structured was used for hush money, Im sure?
kys

>>26368931
stealing this pepe

I'm back from work, guys. I decided to take a loan of $50k from my 401k since they'll accept that. Then I'll use my crypto funds to pay it back immediately.

>>26368108
>>26368446
Hey faggot, why not say it was a gift from your parents? dumbass.

>>26388932
Gambling. Say you have a gambling addiction

>>26369164
i cashed out $100k into my bank despite being unemployed for 3 years and didnt hear a peep

>>26368108
>>26368290
Same shit happened to me last February. They treat you like some sort of evil villain plotting to fund Islamic terrorist cells deep in the Congo. Bro, I'm just trying to buy a fucking house.

>>26399186
wat did u file it under

>>26368724
You've obviously never applied for a mortgage before. They want copies of all your account statements down to the 11th hour. It's worse than filing taxes by a long shot.

>>26391828
I need to know details as well. Have a 500k crypto portfolio and I want a fuggin mortgage

>>26399310
nothing, I live in the UK I don't need to file my capital gains for this year until after april. when I actually file my taxes its like the disposal of any other asset there is a section in the return for capital gains etc.

mostly i was just posting because I didn't hear anything from my bank after receiving the money and having spent portions of it over the months since.

>>26399398
You can use your crypto. You have to cash the portion that you need 60+ days in advance. That way it's considered "seasoned' and they won't ask questions. That wasn't an option for me because crypto prices were very different 2 months ago and I didn't decide to buy a house until the beginning of this month due to the recent pumps.

>>26398054

>>26368725
the kikes don't like the goyim making money unless its through years of sweat, blood and years toiling for them. Never give them a reason to suspect you are anything but a working class slob barely surviving. They want to suck everything out of you.

I transfer 5 sum figures from my dealership a couple times a year. Usually to pay taxes. Stop sweating completely legal transactions faggots. The only time I got a few day hold was when I dumped a check from a legal settlement in.