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How to use crypto as a form of payment in B2B business deal (legally)

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by COINS NEWS 163 Views

Hello everyone,

I am a large producer of cannabis and due to the many issues in the industry with accepting dollars I am unable to receive payment for my product with a normal bank. Unfortunately cash is also complicated as I am going to sell B2B and thus will receive a large sum which may become very problematic and bring security issues.

Here comes crypto in the picture.

I am exploring the idea of receiving crypto for my product but have no clue on where to start, how to do it, how to do it legally, paying taxes etc... I already know the basis of blockchain and have been in the space for a couple of years but my understanding is superficial, especially when it comes to this sort of case. Can I just send a large sum from one wallet to another, somehow declare it, pay taxes on it, send it to an exchange and finally cash out in dollars? Any ideas? Not based in the US btw (not sure if relevant).

Am excited to do this via crypto as it seems like the only viable option and would love to have some actual utility to it other than just speculation.

Edit: any resources to read on, YouTube channels or videos, blogs etc.. would be greatly appreciated. There is a lot of info already on investing in crypto but not so much on usability.

Also, don't dm me, will not get scammed on here.

submitted by /u/throw-money-away
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