Bank accounts

[ta84351]

Alright boys,
my reselling operation is getting quite large now, and obviously i'd like to be well aware of things that could get me caught. i have just one question, how much money will it take to go through my bank account for them to start looking into things or asking questions or even audit me? Cheers x

[ta84351]

Varies from bank to bank but most allow something like £8k per year before asking where the money is coming from.

Ideally with reselling you want to avoid banks altogether for maximum security as in the event you are caught everything is documented and can be used as evidence against you.

Thanks for that. Is that £8000 that has gone into my account or £8000 that is currently in my bank account? Either way, it does add up and I'm not far off after only a few months of reselling:/ looks like i better start using btc. if i were to store some of my money in btc what would your advice be regarding not losing money in depreciation of btc?

[Cylow]

Varies from bank to bank but most allow something like £8k per year before asking where the money is coming from.

Ideally with reselling you want to avoid banks altogether for maximum security as in the event you are caught everything is documented and can be used as evidence against you.

Thanks for that. Is that £8000 that has gone into my account or £8000 that is currently in my bank account? Either way, it does add up and I'm not far off after only a few months of reselling:/ looks like i better start using btc. if i were to store some of my money in btc what would your advice be regarding not losing money in depreciation of btc?

Nothing can be done directly about BTC fluctuations, but you can do on of two things to counter it.

Either store it in a fairly stable coin like monero, where your asset value will be fairly constant.

Or you can put your money in a coin you think will be more valuable in the future, bitcoin cash probably being one of the safest bets.

Or you can put it in bitcoin knowing it's pretty much never going anywhere and odds are itll appreciate.

Ignore this cuck. Monero is not a stable coin.

If you want to ensure your money stays at a set value without fluctuating, I’d recommend storing it in a stable coin that’s pegged to a FIAT currency. I'd recommend storing your money in Dai which is an ERC20 token which is pegged to 1 USD. Id go with Dai over other stable coins such as USDT due to it being decentralised.

[Runin28]

Thanks for that. Is that £8000 that has gone into my account or £8000 that is currently in my bank account? Either way, it does add up and I'm not far off after only a few months of reselling:/ looks like i better start using btc. if i were to store some of my money in btc what would your advice be regarding not losing money in depreciation of btc?

Nothing can be done directly about BTC fluctuations, but you can do on of two things to counter it.

Either store it in a fairly stable coin like monero, where your asset value will be fairly constant.

Or you can put your money in a coin you think will be more valuable in the future, bitcoin cash probably being one of the safest bets.

Or you can put it in bitcoin knowing it's pretty much never going anywhere and odds are itll appreciate.

Ignore this cuck. Monero is not a stable coin.

If you want to ensure your money stays at a set value without fluctuating, I’d recommend storing it in a stable coin that’s pegged to a FIAT currency. I'd recommend storing your money in Dai which is an ERC20 token which is pegged to 1 USD. Id go with Dai over other stable coins such as USDT due to it being decentralised.

Calling Wilko a cuck

[ta84351]

Varies from bank to bank but most allow something like £8k per year before asking where the money is coming from.

Ideally with reselling you want to avoid banks altogether for maximum security as in the event you are caught everything is documented and can be used as evidence against you.

Thanks for that. Is that £8000 that has gone into my account or £8000 that is currently in my bank account? Either way, it does add up and I'm not far off after only a few months of reselling:/ looks like i better start using btc. if i were to store some of my money in btc what would your advice be regarding not losing money in depreciation of btc?

Nothing can be done directly about BTC fluctuations, but you can do on of two things to counter it.

Either store it in a fairly stable coin like monero, where your asset value will be fairly constant.

Or you can put your money in a coin you think will be more valuable in the future, bitcoin cash probably being one of the safest bets.

Or you can put it in bitcoin knowing it's pretty much never going anywhere and odds are itll appreciate.

someone has invested big in monero;)) but thanks for the advice guys, it does appear like btc is the best option since it's more stable since the big rise+crash last year.

[Runin28]

Ignore this cuck. Monero is not a stable coin.

*𝐆𝐫𝐚𝐛𝐬 𝐩𝐨𝐩𝐜𝐨𝐫𝐧 𝐚𝐧𝐨𝐧𝐲𝐦𝐨𝐮𝐬𝐥𝐲*

**puts on 3D glasses for added effect**

[Cylow]

Thanks for that. Is that £8000 that has gone into my account or £8000 that is currently in my bank account? Either way, it does add up and I'm not far off after only a few months of reselling:/ looks like i better start using btc. if i were to store some of my money in btc what would your advice be regarding not losing money in depreciation of btc?

Nothing can be done directly about BTC fluctuations, but you can do on of two things to counter it.

Either store it in a fairly stable coin like monero, where your asset value will be fairly constant.

Or you can put your money in a coin you think will be more valuable in the future, bitcoin cash probably being one of the safest bets.

Or you can put it in bitcoin knowing it's pretty much never going anywhere and odds are itll appreciate.

someone has invested big in monero;)) but thanks for the advice guys, it does appear like btc is the best option since it's more stable since the big rise+crash last year.

Did you just ignore everything I just said? If you want a stable coin use Dai, you can’t get more stable then that.