Cryptofriendly banks

#81
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What @Fred is suggesting is definitely a solution but it's worth mentioning that behind the word "workaround" is just an attempt to mislead EMI/Bank. It's also risky. In many countries in Europe, there are Bitcoin machines that allow cash out. In many cases, it's better to do it this way instead of setting up a company and move to a different country.
 
#82
That works for day to day expenses but as soon as we are talking about significant amount of money the cash is stuck.

You can't build any wealth management setup with this bank you can literally do nothing with this cash beside of spending it for things that not really matter in life.

In most Europe Countries you even can't buy a car that way any longer.
 
#83
Fred said:
In most Europe Countries you even can't buy a car that way any longer.
Click to expand...
True, I believe in less then 10 years you will be unable to buy anything for cash in Europe unless it is in the supermarket.
 
Reactions: cp74, KJK and troubled soul
#85
That's not up to date anymore.

They can only send to your bank account if you sell Gold even if you are in person.

You can buy in cash via "Tafelgeschäft" in DACH Area but the limits are going down very fast.

Germany had 10.000€ Limit - now it's 2.500€

Austria same like Germany

Switzerland had 20.000CHF Limit - now it's 15.0000CHF

So keep in mind you can only buy over the counter in cash in this countries.

Selling over the counter was paid out via bank transfer to a bank account in your name since forever.
 
#87
I can only speak for CASH PURCHASE in DACH area:

Germany - 2500 EUR (without ID card - anonym)
https://www.bullionstar.com/blogs/ronan-manly/german-government-escalates-its-war-on-gold/
Austria - 10.000 EUR (with ID card - not anonym)
Legitimation limit in Austria for cash purchases € 10,000
Without exception, a valid passport, identity card or driving licence is required as proof of identity.
(Gold Investment: Gold Coins and Bars by Austrian Mint.)

Switzerland: - 15.000 CHF (without ID card - anonym)
https://swissgoldsafe.ch/en/buy-gol...r Liechtenstein,limit allowed was CHF 25,000.
The General Trend is to lower the limits frequently:

In either Switzerland or Liechtenstein, a cash value of up to a limit of 15,000 Swiss francs can be converted to gold coins or silver bars via the so-called over the counter service. By the end of 2019, the upper limit allowed was CHF 25,000. This means that the cash limit for buying precious metals is significantly higher than in other European countries. In Germany, the upper limit for anonymous shopping was reduced from 10,000 to 2,000 euros as of January 1st, 2020. With this value, the German federal government exceeded the requirements laid out in the new Anti-Money Laundering Act.
 
Reactions: lavel
#89
Wouldnt it be lesser cost to buy it in Gold Souk Dubai? Please share your thoughts on this guys.
 
Reactions: melzvy
#90
Why do limit bother you?

Just purchase only upto EUR 1000 to one shop.
Buy from another shop. No id nothing .
If you want to buy EUR 300K. And If you have 3 people in friend and family . Just go to different 100 shops and buy gold . It sound funny and takes time but It works like charm. Nobody care for small amount.

Why people taking too much headache ?
 
#91
It is getting harder and harder to spend your cash anywhere. Damn I'm sick and tired of this world. Where is the time where Gadaffi took his plane filled with gold,silver and cash worth 12,5 billion USD into the USA in 2010?

I want to fill my trunk the same way and buy what ever I want without anyone to spy or control me
 
Reactions: wstd1234 and Cetme308win
#94
This is also what I want to know. On my point of view, I think it should not be a problem to send payments to coinbase or binance.
 
#95
If you buy gold in Switzerland and store it in a safe deposit box there , is there any reporting going on ?
 
#96
I don't understand how this gold thing works. I'm an EU resident. In my country selling gold incurs capital gains tax. Ok, so maybe I bought gold in Switzerland or w/e. I still can't bring that money into my country, without paying tax. And in cash form it's useless. What am I missing?
 
#99
The BTC atm machines work for small amounts - say around 5 k - but they bite you on fees and have low limits perhaps related to the amount of cash actually in the machine.
There is a video on youtube of a guy going around to atm's dealing with the frustration involved in waiting for network confirmations, getting 20 dollar bills, hitting withdrawal limits... just to cash out a mere 16.5 k
 
Last edited:
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