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/biz/ - Business & Finance

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29533129 No.29533129 [Reply] [Original]

I'm a student poorfag that works part time in a supermarket. I have 6 digits in crypto. I have never ever converted any of it to fiat. How the fuck do people convert their crypto to fiat and how do I pay taxes on this??

>> No.29533188

would it be a bad idea to leave a chunk of money in Robinhood as opposed to a bank so you can get free interest every month?

>> No.29533201

>>29533129
Cashing out monopoly money is a meme

>> No.29533248

>>29533129
Pay an account one of you're wagie paychecks and they'll make sure you don't pay more than you have to. Many banks don't take crypto from anywhere but (((coinbase)))

>> No.29533254

just keep the low profile and you will never have to convert to fiat soon. Also imagine paying taxes if you are working at a supermarket KEK

>> No.29533423

Get binance card and convert crypto to spend.

>> No.29533621

You pull out small amounts over time if you don't want to be raped by taxes.

Although it's far simpler to set a goal, for example lets just say you want 1 million dollars from crypto, then sort out how much you'd actually need to have to profit 1 mil after taxes.

>> No.29533774

>Cashing out
If you're done with the game for now, just yield farm faggot. You can make $10k a year with USDC. That make your wageslaving ass comfier