Selling your BTC

Hi guys,

So I’ve been thinking lately since I started investing money into my first alt coins and Bitcoins not too long ago. What happens when it finally reaches my goal? So I’m imagining myself sitting on the moon with you guys wearing our spacesuits and then I actually want to turn my investment into “real money”. What is the best solution? How do I go about that? Is there taxes involved? Which site has the lowest fees? Is Localbitcoin still the best option? Will my bank say anything if I all of the sudden put 500k into my account?SO MANY QUESTIONS… Please Help

Thanks

LX

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In the moon you use BTC to pay, everyone accepts it and if you went in the mother-ship with us you are rich.

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I like your answer. but Im seriously wondering.

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I’m serious. There are countries that already recognize it as money, such as Japan. In fact with technology that is available right now, like TenX, you can spend your BTC as if it was fiat.

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i know you are serious and I can realise bitcoin is actually usable more and more. But WHAT IF…

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As of right now my understanding is that the “NO FEES COINBASE” solution is the best way to trade from BTC to USD

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Good question OP. Best route to buy a Lambo with BTC? Tenx? lol

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To be honest, if you think about it, the more BTC gets adopted by the world, the more inflated fiat will become.
BTC can reach $1.000.000, but then $1.000.000 at that time will be only $1.000 worth because of inflation caused by people adopting BTC.

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Must feel good to look back at these posts and realize what you’ve gained!

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Hope you have been HODLING!

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I have and I will continue to do so. But nobody in here has actually answered my question yet…

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You mean putting 500k?
If you are in the US, pay your taxes and you should be fine.

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are there any other ways to sell off BTC so we can get the huge amounts of BTC today?

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I think what you might be looking for is something like Open Bazaar or Paxos or Haven - marketplaces where you can exchange your hard earned bitcoin for gift cards, pre-paid debits, etc. Other than that, seems like Local Bitcoins and Bitcoin ATMs are your best options -

I mean, but really your best and safest option is to sell on an exchange like Coinbase, pay taxes on your gains, and be happy with what is left over…

Although…I have seen some services that ‘loan’ you money on your crypto - if it goes up, you win but if it goes down…margin call.

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