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Deposit and withdrawal methods: Crypto payout

Topic created on 08th May. 2024 | Page: 1 of 1 | Answers: 5 | Views: 337
Tuffelkoenig

Crypto payout

8th May. 2024, at 09:21 pm CEST#1
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Hello,

i have a question about withdrawals via crypto (Coinbase) and from there to my bank account. How does the tax office deal with it if €5,000.00 from an e-wallet ends up in my bank account out of nowhere? Is the amount taxable as crypto profit?
Can the amount be traced to find out which casino with which license the money came from?

Best regards

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Hidaruma
Top Member

Crypto payout

10th May. 2024, at 09:45 pm CEST#2
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It probably depends on your bank. If they don't say anything, nothing will happen.

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gamble1
Legend

Crypto payout

10th May. 2024, at 10:33 pm CEST#3
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Well, it can be traced and it's very easy because they can simply ask you to show us how you came into possession of the money and then you have to prove it because, as you say, it's strange when €5,000 appears out of nowhere

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T0uchTheSky
Elite

Crypto payout

10th May. 2024, at 10:47 pm CEST#4
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gamble1 wrote on 10.05.2024 at 22:33: Well, it can be tracked and it's very easy because they can just ask you show us how you came into possession of the money and then you have to prove it because as you say it's strange when €5,000 appears out of nowhere

I never send my crypto wins from the casinos to the exchange, because every crypto exchange is licensed and must also comply with the Money Laundering Act. At some point they will ask you where all the money came from.

I do things differently. Cryptos -----> Casino, then Casino----> Jeton, then Jeton ------> Jeton credit card

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gamble1
Legend

Crypto payout

10th May. 2024, at 11:12 pm CEST#5
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T0uchTheSky wrote on May 10, 2024 at 10:47 pm:

I never send my crypto wins from the casinos to the exchange, because every crypto exchange is licensed and must also abide by money laundering laws. At some point they will ask you where all the money comes from.

I do things differently. Cryptos -----> Casino, then Casino----> Jeton, then Jeton ------> Jeton credit card

But Jeton is also licensed, so they have to ask you, that's why the questionnaire in connection with the MasterCard

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T0uchTheSky
Elite

Crypto payout

10th May. 2024, at 11:18 pm CEST#6
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gamble1 wrote on 10.05.2024 at 23:12:

But Jeton is also licensed, they have to ask you too, that's why the questionnaire in connection with the MasterCard

Yes, but if the money comes from the casinos, the names of the casinos are there, so Jeton knows where the money comes from. I make so much turnover with Jeton every year and Jeton has never asked for anything, because as I said, Jeton sees where my money comes from and from my bank account I have only deposited a total of 150 euros with Jeton, since then only Jeton to casinos and casinos to Jeton Wallet.

Crypto is different, because you can't see who the money comes from and where it comes from.

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