Not a bad idea for those near major cities. Less applicable to those in say, gnome Alaska, but still good for the majority of the crypto fans
Not a bad idea for those near major cities. Less applicable to those in say, gnome Alaska, but still good for the majority of the crypto fans
I think its still doable outside of urban areas, it would just be all online. the major metals distributers accept BTC for purchase. So about a week to recieve delivery, then you have to lock in a price and mail it back to sell bc they also buy.
The only pit fall is the premium you pay for purchase and for rural folk, the shipping. But overall, if youre trading btc and making a lot of money on it, then who cares if you have to pay about a dollar premium per ounce if you're dodging the IRS significant percentage of tax.
Pitfall 2, if you sell over I believe 10 grand worth they may have you fill out that IRS form.
When you start buying precious metals by mail the tax men start looking at you harder.
Ah I didn't know. I thought you had to make very significant purchases to start having eyes on you.
Not as far as the USA is concerned. It's getting a little scary over here bureaucracy-wise.
So I guess the question is...I have an idea my method would work if youre around dealers who accept bitcoin. So, how does someone who doesn't have access to a dealer who accepts BTC utilize such a strategy?