Bitcoin Cash Out Strategy

Hi all,

I’m new to the forum. I just found out about it today and I enjoyed reading many of the very interesting threads. However, I have not found any solid post about a cash out strategy for those that have invested in Bitcoin.

I started investing in 2013, and I have now a considerable amount in BTC. I expect BTC to hit 100k USD in the next couple of years and I am starting to prepare to cash out. My idea is to cash out 50% to invest in real estate at a later stage and keep 50% to buy into BTC again during the next bear market, dollar cost averaging, starting after a fall of 70% from the next ATH.

For the 50% that I plan to reinvest into BTC, I will cash out in a couple of stablecoins, most likely DAI and USDC, so there are no capital gains and it is easy to reinvest later. So no big conerns here, apart from the brief period of time I’ll have both the BTC and the stablecoins at the Crypto Exchange due to the risk of hacking and losing funds. I keep always all my crypto in cold storage to increase security (not your keys, not your coins).

My concern is to find the best strategy to cash out into fiat that 50% of BTC while meeting the following points:

• Maximise security (no shady banks or pseudo-banks)
• Minimise fees (trade and custody)
• Avoid capital gain taxes

Does anyone have a similar issue and any ideas of how to best proceed? Does anyone know any offshore banks that can offer these benefits?

Thanks in advance for your comments!

 

ANSWER 1:

Hi mate
Spent a lot of time researching myself

I just registered a delaware company, was planning on opening transferwise and kracken attached to it

Sell on kracken, pay to transferwise

Have a trust here in Australia without bank account

Buy a property under that trust

Transfer the funds from tfw to solicitors trust in portions to settle the property

 

ANSWER 2:

Sounds like a good strategy. Thanks for sharing!

What are the costs associated to registering a Delaware company?

Also, will Transferwise allow transfers from Kraken?

 

ANSWER 3:

Costs are stuff all, like 400 usd
Transferwise accept payments from kraken no issue, plus I just transferred 10k euro from advcash to my tfw and no issue

 

ANSWER 4:

Do not send to Transferwise from a crypto exchange. I have heard of several cases where they have suspended accounts due to this, but I guess you can be lucky for a while.

 

ANSWER 5:

They say they don’t for Euro currency. So what currency you sending in to TW from Kraken?