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     2 years ago  

    Lol no I'm not white I am coloured, but what has that got to do with anything? You don't need to take profits, when you can borrow against your bitcoin

    I am sorry for my mistake! I looked like a white person in your appearance.
    So do you mean that individuals store bitcoin and sell it when the price soars?
    Others are looking to make a profit by buying and selling Bitcoin.

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       2 years ago  

      Well you can do that and then pay the taxes on that, but the more tax efficient method is to lock up your bitcoin with a service provider like NYDIG, HODLHODL or LEDN and get a loan against your bitcoin.

      You can get fiat currency and avoid the tax, you just obviously need to pay the loan back, but if you do it right you'll get far more out of it than selling your bitcoin

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         2 years ago  

        Well you can do that and then pay the taxes on that, but the more tax efficient method is to lock up your bitcoin with a service provider like NYDIG, HODLHODL or LEDN and get a loan against your bitcoin.

        You can get fiat currency and avoid the tax, you just obviously need to pay the loan back, but if you do it right you'll get far more out of it than selling your bitcoin

        Wow, @chekohler , That is good idea! If you write articles about those methods later, they will be very popular!

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