I purchased a few bitcoins years ago and paid cash for them I have them in a wallet (USB stick)
Obviously they are now worth considerably more and I have no idea how to liquidate them and if I would have to get involved in paying tax on the increase in value, also I am assuming I could be asked how I paid for them and to prove where the cash came from which wasn't really a great deal of money at the time but was a few thousand and where I purchased them from.
I like everyone else who is holding Bitcoins are hoping they will continue increasing in value.
I don't need to cash these in but I would like to know the options to liquidate them if I wish to in the future or if there is a way to get them in to the system now without too much trouble.
Any help with this would be gratefully appreciated
Obviously they are now worth considerably more and I have no idea how to liquidate them and if I would have to get involved in paying tax on the increase in value, also I am assuming I could be asked how I paid for them and to prove where the cash came from which wasn't really a great deal of money at the time but was a few thousand and where I purchased them from.
I like everyone else who is holding Bitcoins are hoping they will continue increasing in value.
I don't need to cash these in but I would like to know the options to liquidate them if I wish to in the future or if there is a way to get them in to the system now without too much trouble.
Any help with this would be gratefully appreciated