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What happens if you actually make it in crypto?

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by COINS NEWS 109 Views

Some are here for the tech I know that but many of us would settle for bucket loads of cash let's be honest. Over the past few years I've made a few k here and there from things I invested in and then watched most of them fade away.

I often wonder what would happen if you actually hit the crypto jackpot? I wouldn't even know the process. Like let's say you made a million, do you inform your bank that there will be a large amount of funds about to drop into your account? What about the tax do you let the tax office know you have a million in crypto here and want to pay tax on it? Do you hire someone who specialises in these things? What if the bank decided because it's from crypto they will close your account is the money stuck maybe open a crypto friendly bank account before you send it?I'm in the UK with an Irish passport if that helps so do I move to Portugal before I withdraw?

So many questions I know but I often wondered about the process. Can I also add I only have about Β£1k in cryptocurrency so I know it will probably never happen

submitted by /u/madirishpoet
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