Guide to buying altcoins on international exchanges

[leon.davibe]

Still very new so excuse my ignorance. What happens if you move from local exchange to hardware wallet and then to international exchange? is it illegal? Are the fees too much?

The moment it is off local exchange ie custodial wallet it technically isn't in any country

So once it is on your ledger technically it is out of SA

Fees sending from your own wallet is less, ie exchange beef up to make some money

Edit: though this isn't always the case, ie if btc mempool is congested you may end up having cheaper fees as they batch (ie spend one or few utxo - with many recipients in a single transaction) but when you use your own wallet naturally you can't


The fees are only crap on btc from time to time

When doing in low congestion time it isn't a problem

Though you probably don't want to be moving R10 at a time

 

[leon.davibe]

You can't "count" it towards the million as there is currently no way to report this. But in theory if you could that would be fine.

Yea agreed how do you count it

Ok i have 50k offshore in crypto
Ok i have 500k offshore in crypto
Ok i have 5k

 

[Snyper564]

Yea agreed how do you count it

Ok i have 50k offshore in crypto
Ok i have 500k offshore in crypto
Ok i have 5k

I don't make the rules...

It would likely be value the moment it leaves exchange. We have had this discussion before. We don't make the rules that's just how it is at the moment

 

[Snotface]

France just implemented tax on unrealised gains. Lets hope SA never does.

 

[Snyper564]

France just implemented tax on unrealised gains. Lets hope SA never does.

This exists if you are trading crypto already.

Trading stock is deemed to be sold at year end. But deductible at the start of the year again.

If you are legit holding then its capital and not an issue.