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👕 “Financial Advisor” Hoody 👉 https://store.coinbureau.com
🔥 TOP Crypto TIPS In My Newsletter 👉 https://guy.coinbureau.com/signup/
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📺 Essential Videos 📺
Ethereum Gas & EIP 1559 Explained 👉 https://youtu.be/6CdD9ucSvTc
SEC Ripple XRP Lawsuit 👉 https://youtu.be/Bmf2IILzEug
Cryptocurrency Tax Guide 👉 https://youtu.be/EMNSwa_PkkA
Tracking Bitcoin’s Price 👉 https://youtu.be/8a0LGCMrjAA
Altcoin Exit Strategy 👉 https://youtu.be/ZGd6O79_MOc
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– TIMESTAMPS –
0:00 Intro
2:28 Wallet Issues
6:02 Exchange Outages
8:24 Frozen Exchange Accounts
10:40 Shoutout to Sponsor
11:51 Tax Implications
12:49 Bank Account Freezes
15:18 Regulatory Problems
18:32 Final Thoughts
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Best Cryptocurrency Wallets: https://www.coinbureau.com/analysis/best-hardware-wallets/
► Binance Review And Guide: https://www.coinbureau.com/review/binance/
► Stablecoin Wallet Freezes: https://medium.com/qdefi/stablecoins-are-not-as-safe-as-you-think-eng-1eb1f757e3a8
► Crypto.com Card Review And Guide: https://www.coinbureau.com/review/crypto-com-mco/
► Regulators Targeting DeFi: https://www.coindesk.com/financial-watchdogs-have-defi-in-their-sights-alter-wording-around-nfts
~~~~~
🔐Wallet Issues🔐
Normally transaction fees to send crypto are quite minimal and cost anywhere between a fraction of a cent to a few dollars depending on the coin or token
However, when the blockchain is busy, it can cost hundreds of dollars to move that crypto out of your wallet to an app or exchange
As such, it is important to ensure that you have enough coins to pay for transaction fees, and make sure you have the right coin to pay for the fees to send any tokens you are holding (e.g. ETH and BNB)
💱Exchange Outages💱
Even the largest exchanges have a habit of going through outages when people need them the most. Consider making accounts on multiple exchanges to make sure you have alternatives if one goes dark
If the exchange that’s down is the only one that offers trading for your altcoin, if it is an ERC-20 or BEP20 token you can trade it on DEXes like Uniswap and Pancakeswap, respectively
There are also multiple cross chain bridges such as the Ren bridge which make it possible to bring Bitcoin to the Ethereum or Binance Smart Chain blockchain for use in DEXes
🥶Frozen Exchange Accounts🥶
Sometimes exchanges will freeze your account on the grounds of “suspicious activity”. This usually happens on lesser-known exchanges when you’re transferring a large amount of funds
Doing KYC in advance can sometimes help protect against account freezes, although they seem to be used as a method to delay withdrawals when the exchange in question is short on crypto or cash.
Similarly, stablecoins like USDC and USDT are centrally controlled, and their issuers have frozen their transfers at the request of law enforcement. Good alternatives are DAI and Terra’s UST stablecoin.
📃Tax Implications📃
Governments around the world have been spending billions of dollars to give artificial life to an otherwise dead economy and this has put many of them into record levels of debt.
Besides printing money, governments get their money through taxes, and there is going to be no shortage of taxable gains sitting around when this bull market is over.
Be sure to familiarize yourself with all the different tax laws in your country, and the options you have to reduce or eliminate that tax. You can watch the video linked further up in this description to help.
🏦Bank Account Freezes🏦
Like exchanges, banks could potentially freeze your account if you are wiring a large amount of fiat from a cryptocurrency exchange or crypto-fiat gateway.
The procedures you will have to go through will be much more complicated and lengthy however.
It might also be worth opening an additional bank account or two and transferring the money in batches. Alternatives to banks and exchanges are crypto visa debit cards which can be very convenient
If you do not have access to a fiat payment gateway or crypto debit card, you can use LocalBitcoins.com
⚖Regulatory Problems⚖
Some cryptocurrencies you hold could be affected by regulations before you realize profits. If your profits are large, you may also be audited by tax authorities
Last but not least, do not give financial advice as you could find yourself in court losing your hard earned gains to former friends
~~~~~
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#bitcoin #bullmarket #crypto #banks #fiat
Hope these tips come in handy for that day you guys do decide to realise some profits 🙏. Don't forget to follow me on my socials where I share content not on the tube as well as highlights of what is going on behind the scenes 👉 https://guy.coinbureau.com/socials/
If you are not conversant with the markets, I'd advise you to get some kind of advise or assistance from a financial/investing coach like I did with "Nicholas Jaroslav". It might sound basic or generic, but getting in touch with an investment broker was how I was able to outperform the market and raise a profit of $ 250,000 since last month, For me, its the most ideal way to jump into the market these days.
Can you not just keep your coins on the exchange (Etoro in my case) which is registered with the FCA ? Or should you always keep the coins in a hard or soft wallet ?
If I only watch this before the nov crash…..
I think I've been lucky enough to gather bits and pieces of advice and info from various channels and have combined it all into exactly the advice you imparted in this video. Sincerely appreciate you confirming that I'm on the right track and that should I be lucky enough to someday be 'crypto rich', that I've got a good infrastructure to convert and/or cash out as the need arises.
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17thousand 700 I’ve been saying this for a while , right give me that usdt haha
Nice Video! Crypto investment has always strived in Economic Crisis. With the right Risk management, and the right broker, I earn $250 daily
Concern…Regulated exchanges will make deposits from cold wallets more difficult…??
Earlier today, Warren Buffett talked in BBC news about how investors and traders can make millions. He also recommended an expert Mrs Betty Harris. Wondering if viewers here are familiar with her services …..?
Hi Guy just inquiring if all crypto transactions are registered then how do scammers managed to gain access to them and why can they not be recovered !!
I have a ellipal titanium cold wallet i just med a Exchange there
I dont sell but i do skim off the top every time one of my cryptos go up 10 percent or 20 percent. Its passive income for me so far and I'll buy dips but I'm doing well on green days. Big days well maybe they will come on long term holds. My goal is 50k to 100k. Great Video.
I just hodl, until I get a significant profit. How to you take prodit and not loose position? Newbee
OUCH ! 😵💫 😵 🥴 I'm afraid of cashing out NOW !
Hi, I'm a newbie and lost almost 10 million Shib coins. Is it because the price of Shib went below the price I purchased it ? … I was thinking the value of the coin should go down not get entirely eliminated.
Never cash out and pay with crypto 💪 I know it can't be done for everything yet, but if one is serious about crypto then this should be the end goal. This is the reason crypto was created. When it isn't possible, this is exactly why projects like FCF and DKYC exist.
EASY NEVER SELL HODL AND STAKE 😎
Wow, a sponsored vid… Wild
I just swap for usdt and the deal is done
I’ve lost money. And it’s because my greediness. Urgh. Now I have to gamble or chase . OH BTW IF YOUR IN THE RED DONT GET SCARED. LEAVE IT THERE!!! WAIT BE PATIENT. Right now buy ILV NOW !!!! ITS IN THE DIP!!!!
My main tip would be swapping for a stablecoin like usdt instead of cashing out every time
The only people to pay tax is the deep states and their friends
El Salvador . accepting Bitcoin, incredible step forward
Is it okay to sell all then buy back again?
Why you always go off topic, the topic was selling strategy you half video is useless
You sound like a voice generator for Wojak and Bogdanoff videos
Tell more about local Bitcoins, please. Finland particularly.