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The original was posted on /r/cryptocurrency by /u/BandemicPaid on 2024-01-14 02:50:38+00:00.
Original Title: Guys I have a quick question. I’m new in crypto and was wondering how it would go if someone traded on a non kyc exchange on a VPN in the us… and sent their profits to their Coinbase for cash… how would that work??? With taxes and the whole no futures trading in the US???
My friend kinda just got me into crypto and I liked the concept and just crypto as a whole. In theory how would one go about this?? I need some help bc I don’t want to get my self into trouble. I know it can go south very fast. I’m looking for any advice with taxes on crypto in California to safely and responsibly trade crypto. I used Coinbase a year or 2 ago and bought some coins but lost 50% profit so I just sold. I never that in my taxes though. Coming forward to 2023 I’m still using Coinbase but I have sent usdt to an exchange to trade futures with a VPN but I’m not sure if I would ever be able to withdrawal funds? Since I’m sure I shouldn’t be doing this. Should I just stop all together and just buy and hold?? How should I go about this?? I have some crypto I just bought and haven’t sold till the bull run but I wanna get the tax and turning crypto to fiat thing figured out first? Oh yea and would anyone want to suggest any coins to look out for this BULL RUN?? I’ll give you guys a couple. Synapse, and MUBI. Thank you all in advance. CHEERS and HAPPY BULL RUN🐂🐂🥂🥂