How Do You Cashout Earnings?

[eddiep20]

Do you guys cashout your earnings straight to the exchange or do you send it to an offline wallet first like a trezor or ledger and then send to an exchange. Also, do you get taxed twice if you send to offline wallet then exchange? Any help on this would be appreciated. Thanks

 

[Kadabra]

someone asked exactly same question before, or maybe its you?
anyway, yes, send to wallet first. regarding taxing, ask an accountant in your country, but obviously you are not taxed twice, but speak with someone to see how to do it correctly in your area.

 

[NPM]

As taxation is based on the actual earnings (at least in most of the countries) you can freely transfer the money back and forth between different wallets and accounts. Just declare what you have earned, not what you have transferred.

 

[WCB]

Aff Wallet -> Exchange -> Cold Wallet immediately. Some exchanges,like Binance sometimes complicates things for no reason, so safer bet is cold wallet

 

[NDBoss]

Never trust exchanges. Been burned in the past, never forget.

 

[Kuprum]

from exchanges or directly to wallets, or with guys from forums