rohanneal Posted September 24, 2018 Share Posted September 24, 2018 (edited) Guys I would like your opinion on best way to cash out in Australia when time comes. Most of the exchange charge 1 percent of fee when converting Crypto to AUD. When you cashing out big amount you have to pay hefty fees. Is there better way to cash out ?h Edited September 24, 2018 by rohanneal XRPeePee 1 Link to comment Share on other sites More sharing options...
Stormy09 Posted September 24, 2018 Share Posted September 24, 2018 (edited) It's free to withdraw from coinspot now - and it's pretty cheap to transfer XRP in - about 1 xrp last time I did it (about 2 weeks ago) I transferred a few from Bittrex and by the time I refreshed Coinspot it was there !! Edited September 24, 2018 by Stormy09 additional info XRPeePee 1 Link to comment Share on other sites More sharing options...
SaladFingers Posted September 24, 2018 Share Posted September 24, 2018 Independent Reserve do OTC, not sure what their fee would be for this service though. Link to comment Share on other sites More sharing options...
rohanneal Posted September 24, 2018 Author Share Posted September 24, 2018 Coinspot charges 1 percent fee when converting from XRP TO AUD XRPeePee 1 Link to comment Share on other sites More sharing options...
OzAlphaWolf Posted September 24, 2018 Share Posted September 24, 2018 Blockbid are coming. They charge 0.1% for trading and will offer an OTC service. Not sure what that fee would be. Link to comment Share on other sites More sharing options...
CrypToe Posted September 24, 2018 Share Posted September 24, 2018 Would the dream scenario be an Aussie exchange becoming an xRapid partner? XRPeePee 1 Link to comment Share on other sites More sharing options...
Vvittin Posted September 24, 2018 Share Posted September 24, 2018 Be more worried about taxes....but yes...less cookie you give away the better. fiik 1 Link to comment Share on other sites More sharing options...
johnc Posted September 24, 2018 Share Posted September 24, 2018 (edited) 10 hours ago, rohanneal said: Guys I would like your onion on best way to cash out in Australia when time comes. Most of the exchange charge 1 percent of fee when converting Crypto to AUD. When you cashing out big amount you have to pay hefty fees. Is there better way to cash out ?h Edited September 24, 2018 by johnc deleted no longer required Link to comment Share on other sites More sharing options...
Guest Posted September 24, 2018 Share Posted September 24, 2018 4 hours ago, rohanneal said: Coinspot charges 1 percent fee when converting from XRP TO AUD If you trade on XRP markets then the fees has been reduced to .1% for xrp, the liquidity is low at the moment though but I believe it will build up. Also Coinspot will be launching OTC services soon, you can register your interest now. Coinspot sources liquidity from Bittrex and others am not sure of to fulfill market orders and I believe they will be able to execute large orders as well. Volume is pretty decent on BTCmarkets as well, specially during spikes so selling AUD100,000-300,000 worth of zerps in one order is not a problem as I have witnessed during Dec/Jan run. Link to comment Share on other sites More sharing options...
rohanneal Posted September 24, 2018 Author Share Posted September 24, 2018 2 minutes ago, Invincible said: If you trade on XRP markets then the fees has been reduced to .1% for xrp, the liquidity is low at the moment though but I believe it will build up. Also Coinspot will be launching OTC services soon, you can register your interest now. Coinspot sources liquidity from Bittrex and others am not sure of to fulfill market orders and I believe they will be able to execute large orders as well. Volume is pretty decent on BTCmarkets as well, specially during spikes so selling AUD100,000-300,000 worth of zerps in one order is not a problem as I have witnessed during Dec/Jan run. Many thanks....this has helped me Link to comment Share on other sites More sharing options...
fiik Posted September 24, 2018 Share Posted September 24, 2018 (edited) BTCMarkets Withdrawal Fees Australian bank transfer - Free (Any fiat in your BTCM trading acc - ur bank acc) but as Vvittin pointed out CGT (capital gains tax) will be the killer unless you hold for 12 months then sell and get 50% bonus - where if you make $X CGains you only need to claim 1/2 as CGains - so $10000 would be tax paid on $5000 and $5000 is yours tax free. (though this may still need a personal clarification from the ATO). Also remember that any C Gains (or losses) get added to your taxable income and that will determine which tax bracket you end up in and the relevant tax percentage to be paid. Edited September 24, 2018 by fiik Link to comment Share on other sites More sharing options...
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