Cashing out crypto in the UK

[pma9955]

Hi,

Live in the UK and I'm looking for options to cash out my cryptocurrency in the future. Is there a way that I can cash out my crypto without having to pay the full CGT or better yet a low amount of CGT so that at least I can prove that I paid for it?
What are the options to do this? Are there ways to do this without moving out?

It will be over £500k-£2m by the time I cash out as I do have a heavy portfolio but crypto is down at the moment so it's quiet but I'm still looking for options.

 

[JohnnyDoe]

"cashing out" is wrong in principle. You should never sell crypto (a valuable asset) for fiat (an asset designed to reach zero value). The only instance when you should sell crypto is when you need a precise amount for buying something valuable.

Having said that, there are ways to sell crypto for cash and avoid (or evade) CGT. Better to discuss in private.

 

[pma9955]

"cashing out" is wrong in principle. You should never sell crypto (a valuable asset) for fiat (an asset designed to reach zero value). The only instance when you should sell crypto is when you need a precise amount for buying something valuable.

Having said that, there are ways to sell crypto for cash and avoid (or evade) CGT. Better to discuss in private.

Yeah I don't want to sell all my BTC as that will keep going up no matter what, it's just very volatile but I can sell my other crypto holdings as I need to pay things off which is very doable. If everywhere in the UK accepted USDT I would never cash out.

Do you use telegram or anything like that or keep your communication on here?

 

[JohnnyDoe]

Yeah I don't want to sell all my BTC as that will keep going up no matter what, it's just very volatile but I can sell my other crypto holdings as I need to pay things off which is very doable. If everywhere in the UK accepted USDT I would never cash out.

Remember that you can use your crypto as collateral for loans.

Do you use telegram or anything like that or keep your communication on here?

You can contact me via DM here.