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Deposit and withdrawal methods: BTC withdrawal to account

Topic created on 02nd Jun. 2020 | Page: 1 of 2 | Answers: 11 | Views: 7,513
BTCGamble

BTC withdrawal to account

2nd Jun. 2020, at 01:59 am CEST#1
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Hello.

I have a very specific concern. I have won a total of just under $100,000 over several days at a Bitcoin casino.

I now have the Bitcoins on my wallet, and now what?

I could of course sell the Bitcoins on one of the various marketplaces (as I have always done so far, but with much smaller sums) and have them paid out to my account.

But the problem is:
i play 95% of the time only in such Bitcoin casinos and unfortunately they almost always have (at most) a Curacao license. As I understand it, it is only "legal" if I had won the money or the Bitcoins in a casino that has a license in an EU state. Since this is not the case, in the worst case the entire win could be confiscated.

Have there already been such cases? How likely is this? The money would be gone in that case and I would have had bad luck although I won, but just in a casino with a wrong license?

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Priince
Amateur

BTC withdrawal to account

2nd Jun. 2020, at 08:32 am CEST#2
1 Like

Liked this post: Avatar von supermode supermode
who is going to confiscate the BTC?

You could gradually Deposit it in a MuchBetter account and withdraw it from an ATM using your MasterCard.

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Slot-Hunter
Rookie

BTC withdrawal to account

2nd Jun. 2020, at 09:08 am CEST#3
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The license is not necessarily the problem. Your problem will be to declare the amount to the tax office. I have discussed this with the head of my tax office - and here, too, the wins from gambling are tax-free. You should go to your tax advisor and explain the case to him. He will then explain to you which documents you need to get the amount accident-free on your account. First of all, I would secure any evidence that has to do with the win so that you can completely prove where the money comes from.

Next problem are the banks, which apparently (even if still in individual cases) go to cancel the account, 100.00 dollars will certainly arouse the attention of the bank and certainly this transaction is transmitted to the tax office / tax investigation.

There was once a case with a master painter, but if I remember correctly, he successfully sued back the amount after losing in court. Some in the forum can certainly remember better

Also I would recommend you to make a plan, do you want to leave the money on your account ? Then transfer a part ( or all ) to a crypto exchange like Bitfinex instead, exchange the tokens into dollars there and lend the money - Risk is absolutely minimal. the lent money is always secured, i.e. if someone speculates with the borrowed money the Bitfinex system will liquidate him in time and you will get your amount + accrued interest on your account. This means you don't have to chase your money and you don't have to worry about anything else. With a free account on Coinlend that lends the money automatically, you earn about 8% interest per year. This interest is then taxable, 25% capital gains tax

I myself have that now just under 1.5 years with a small amount running, interest 2019 were 11.46% . This year I am at 13.8%, however, I also use my self-programmed Lending bot. Taxes on it I do not pay because the earnings from the interest does not exceed 600€

May I ask which casino you are talking about? Can you also Deposit there via Skrill or another e-wallet ?

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campamocha
Rookie

BTC withdrawal to account

2nd Jun. 2020, at 11:24 am CEST#4
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Priince wrote on 02.06.2020 at 08:32: who should seize the BTC?

You could gradually Deposit it into a MuchBetter account and withdraw it from the ATM with your Mastercard.

That is a valid way:


Write to MuchBetter customer support and describe the case
Muchbetter support increased limits on the account and guaranteed that the amount will be charged accordingly with a transaction
Pay out via prepaid card, parts also to the bank account if and when desired
Direct money from an exchange or crypto-marlet place to the account - is mM usually sensitive
Help gladly if that is of interest - PM suffices.

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Priince
Amateur

BTC withdrawal to account

2nd Jun. 2020, at 12:25 pm CEST#5
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campamocha wrote on 02.06.2020 at 11:24 am

This is a valid way:


MuchBetter customer support write to and describe case
Muchbetter support increased limits on the account and guaranteed that the amount will be charged accordingly with a transaction
Pay out via prepaid card, parts also to the bank account if and when desired
Direct money from an exchange or crypto-marlet place to the account - is mM usually sensitive
Help gladly if that is of interest - PM suffices.

He already has it on a crypto wallet
Thought rather of eg monthly 1k - 2k from the wallet to MuchBetter book. Should not actually ask anyone?

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BTCGamble

BTC withdrawal to account

2nd Jun. 2020, at 06:11 pm CEST#6
2 Likes

Liked this post: Anonym, Avatar von Bitcoin Bitcoin
First of all, thank you for the contributions.

@Priince the BTC itself of course no one can confiscate, but once the money from their sale is on my bank account this would be, at least theoretically, possible (illegal gambling).

@Slot-Hunter as I have read it makes a difference whether EU license or from any Caribbean state (or even none at all). I was also thinking that all the crypto transactions to and from the casinos are very opaque and the thought of proving anything now makes me lose my nerve. I play almost only in "dice casinos". Primedice.com, Stake.com & Duckdice.io. There you can only Deposit and withdraw with cryptos

Regarding MuchBetter: how to sell the BTC and get it into my bank account I am aware of. There are numerous marketplaces for that. And just under 90,000 € I would not now like to lie around in cash. But thanks for the Tip anyway!

I have now done so: 30,000 € paid out to 3 different bank accounts (each under 10,000 €), 30,000 € in BTC kept and 30,000 € in TUSD changed - to protect me from possible exchange rate fluctuations. I think I'm doing quite well with this, and relatively trouble-free as well as safe.

The BTC I will then sell in a year at the earliest to take (possibly) additional price gains tax-free.

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Bitcoin
Experienced

BTC withdrawal to account

2nd Jun. 2020, at 09:03 pm CEST#7
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you do everything right... especially that you leave a part in BTC

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kinglacoste

BTC withdrawal to account

10th Sep. 2021, at 11:37 am CEST#8
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Heey people I have a problem I know me with the bitcoins etc not at all from / can you me vieleicht something under the arms grab I say times that would be great! have at the here also not rare casinos after implement etc 400 € real money what I would like to have paid out. now the support tells me I should create me a KRYPTOKONTO since they only pay out over it, as well as minimum Deposit 50euro is also normal would be cool if I could bring something closer or a Tip like I ambesten proceed there that I can pay out as fixed as possible. many thanks in advance love greetings

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Tonkabohne
Top Member

BTC withdrawal to account

10th Sep. 2021, at 03:21 pm CEST#9
1 Like

Liked this post: Avatar von kinglacoste kinglacoste
kinglacoste wrote on 10.09.2021 at 11:37: Heey people I have a problem I know me with the bitcoins etc not at all from / can you me vieleicht something under the arms grab I say times that would be great! have at the here also not rare casinos after implement etc 400 € real money what I would like to have paid out. now the support tells me I should create me a KRYPTOKONTO since they pay out only about it, as well as minimum Deposit 50euro is also normal would be cool if I could bring something closer or a Tip like I ambesten proceed there that I can pay out as fixed as possible. many thanks in advance love greetings

Edit: font color adjusted

Very simple.

Open an account - for example like me, at Coinbase.
Goes very quickly and without Verify etc... so no need to make a Postident or identity with webcam.

You create an account and can get a wallet ID or crypto address.

Go to the top right on Send / Receive and on Receive is then there a crypto address-which is assigned only to you.

You can then receive payments to this address.

But everything is also explained in detail on the page or Google.

Kind regards

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kinglacoste

BTC withdrawal to account

26th Sep. 2021, at 03:35 pm CEST#10
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Hello Thank you very much for the help, I have now only seen it but then it is yes manageable great then I will take the same time finally in attack, after I have finally paid out etc I'll get back to you as a thank you beautiful ne small joy make have helped me really very Mfg

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