Best Online Bank account in order to Cashout Legally

[Marie Manila]

I don't think if it is true. You can buy/sell crypto directly on their app.

That is not really true.
You can buy something, that is bond to the bitcoin price. But these are not real bitcoins.
You are not able to send them to your private wallet or transfer them out of Revolut.

So, you do not buy or own bitcoins there.
And Revolut is not crypto-friendly at all, if we are talking about real bitcoins.

 

[Archer7]

That is not really true.
You can buy something, that is bond to the bitcoin price. But these are not real bitcoins.
You are not able to send them to your private wallet or transfer them out of Revolut.

So, you do not buy or own bitcoins there.
And Revolut is not crypto-friendly at all, if we are talking about real bitcoins.

Yes and No)) ...The same thing goes with Etoro and paypal, right? When we say not friendly it is like HSBC that does not allow you buy/sell or trade crypto. Anyways, the best thing is to write to them and ask directly. But I agree with you, you don't really own your crypto, they do)

 

[lokifree]

It all depends on the figure of your cash out. I know that some Swiss banks accept money from crypto if only you are able to document how you got the coins in the first place (digging is not accepted). I recently talked to the guy from UBS and he told me they onboarded few cryptowealth clients recently. Of course it has to be a 6 figure amount or more. Same story with Vontobel for instance. Cheers!

 

[Hegemon]

For large amounts you want to tax where you live you can simply use kraken, never had a problem using them even with large amount (6 figures) amounts.

Were you asked to justify the whole trace? Cash to btc, btc to alts if you did them, alts to btc, btc to cash?

 

[kkein]

Is it safe to use revolut to load money into some exchange? like binance or similar?

 

[JohnLocke]

Were you asked to justify the whole trace? Cash to btc, btc to alts if you did them, alts to btc, btc to cash?

yes you will always be asked for that with the large exchanges. Today you can only use private providers if you want to do something anonymous, (keep that topic inside mentor group gold) otherwise you will have to have your KYC and documentation in place.