How much money have you Earned in Bitcoin
October 20, 2017 6:44am CST
Sorry if I haven't posted for a while on mylot, I'm very busy nowadays! I was just surprise at how much Bitcoin is against the US dollars it's now $5,600 it's crazy! I have 5 bitcoins that was given to me for free to register back in 2011. Look how much it is now, how can I convert it to FIAT currency without being taxed?
3 people like this
20 Oct 17
In the Philippines we can transfer Bitcoin to local bank account, yours or others bank accounts automatic convert to peso via coins.ph but we have to complete verifications. If you do not want to verify your account you can send Bitcoins to me haha kidding I completed ALL verifications so my limit is P400,000. (Maximum). We can keep excess Bitcoins in other wallets i.e. Blockchain.info and schedule another cash in/out to/from Coins.ph the following year. I believe we are tax exempted. To make sure, do not put all your money in one account. Better put your Bitcoin in Trezor or Ledger Nano, transfer to coins.ph little by little (cash out).
Employees earning P250,000 a year will be exempted from paying income tax even as existing value added tax exemptions for senior citizens and persons with disabilities will remain. Current trending headlines in business, money, banking, finance, companies,
20 Oct 17
Wow, that's a lot of money! I don't know how you can withdraw it. I have about $50 or a little more, but that's because I started recently, the account I had back in 2012/2013 was hacked, it was an online wallet. I'm thinking of buying gift cards with those bitcoins, that's how I plan to convert what I have. Converting 5 bitcoins into gift cards would be too much.