Crypto SoF documents

hlepic211 · Jan 4, 2025

If you're in a low-or zero tax jurisdiction just pay yourself an advisory comission for any type of service with btc or usdt. Create a conract between you and any UAE company for example (with chatGPT). Make sure the company sends you crypto from any reputable exchange (this way you'll get clean source).

Then send it to any exchange and cashout fiat (Kraken->SEPA).

= clean fiat with SoF.

fighthorse · Jan 5, 2025

lili247 said:
Let's say I want to open an account in a crypto bank or private bank in CH/LI.

I bought BTC in 2016 for 350$, sold for 700$, bought again at 4000$, and then did a shitload of stuff which are harder to track, defi, multiple exchanges, lost money, lost crypto, gained crypto again, etc, etc.

BUT I have a purchase receipt for like 20 BTC in 2016.

Can I just show that receipt to Frick/Sygnum/Anima, and then deposit 10 BTC with them ?

Or sell the 10 BTC for fiat at Kraken, then transfer to a non-crypto private bank in CH/LI, and show them the purchase receipt and the sale receipt ?

Will that be enough ?

Or are they going to dig, ask if I really holded from 2016 until now, will want a full list of all my transactions from 2016 until now, etc ?

If you want to avoid problems, and considering the modest fortune you have, I would recommend setting up a legitimate system where you convert crypto to fiat through proper channels, so you can produce a Source of Funds (SoF) document. I wouldn’t start with a bunch of shady maneuvers!

Unless you can move the funds directly into gold or cash via an intermediary, I wouldn’t risk putting them into a bank account, unless you do it the way I initially suggested.

That said, you can use any Exchange like kraken and binance to transfer the money to a Wise or other crypto friendly EMI and to your bank account.

padres123 · Jan 28, 2025

There are many solutions. Where do you come from ? Switzerland? But if you come to the east you can cash (+-1-max 5% fee) directly for cash, and then deposit the money again with your bank as "savings". However, this war ahead does not work in the Swiss !!! (ex. in Buckarest)

kilor · Feb 7, 2025

lili247 said:
Let's say I want to open an account in a crypto bank or private bank in CH/LI.

I bought BTC in 2016 for 350$, sold for 700$, bought again at 4000$, and then did a shitload of stuff which are harder to track, defi, multiple exchanges, lost money, lost crypto, gained crypto again, etc, etc.

BUT I have a purchase receipt for like 20 BTC in 2016.

Can I just show that receipt to Frick/Sygnum/Anima, and then deposit 10 BTC with them ?

Or sell the 10 BTC for fiat at Kraken, then transfer to a non-crypto private bank in CH/LI, and show them the purchase receipt and the sale receipt ?

Will that be enough ?

Or are they going to dig, ask if I really holded from 2016 until now, will want a full list of all my transactions from 2016 until now, etc ?

I would do that before I apply for an account there or if you already have an account I would ask them, pretending to be a new customer.

OKboomer · Feb 9, 2025

lili247 said:
I think I've read here that Andbank in Andorra may be more ok less ok with crypto as a source of funds also.

no

hlepic211 said:
Usually they don't ask you for trade history. Just in and out transactions. The 1st fiat transfer and crypto purchase is the most important part.

no

hlepic211 · Feb 9, 2025

OKboomer said:
no

Yes

OKboomer · Feb 9, 2025

hlepic211 said:
Yes

which bank is that? you say usually, implying you tried it in several banks.
i have tried many, and in and out is never enough, especially in a situation like the one of OP, where you don't hold it over the entire period, but do things in-between

hlepic211 · Feb 9, 2025

OKboomer said:
which bank is that? you say usually, implying you tried it in several banks.
i have tried many, and in and out is never enough, especially in a situation like the one of OP, where you don't hold it over the entire period, but do things in-between

Only once a bank asked me for all the trading history. It was Trusted Novus in Gib, but they were so stupid at everything else so I didn't even go forward with the application.

Banks that were fine with only in+out + balance screenshot docs:
Maerki Baumann (CH), MoraBanc (AD), Frick (LI), Turicum (GBZ) + a few others also mentioned on this forum

Crypto SoF documents

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