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Bitwala looking for tax information?

  • 19-11-2020 6:25pm
    #1
    Registered Users Posts: 2,736 ✭✭✭ runswithascript


    I have been looking for a cheaper bank account and I first setup Revolut, then N26 as the fees seem even cheaper and there 3 ATM withdrawals per month free should I need them, and then I set up Bitwala which I think has unlimited withdrawls - and offer high interest on BTC through the Celcius Network.

    Bitwala are now looking for my tax information which they have told me is only for money laundering and counter terrorist use but that if any legislation was brought in regarding tax they would have to abide by it.

    Unfortunately I do not have a mass of cryptocurrency so I am not worried right now but would any of you consider it a red flag for the future?

    Crypto can be stored on the Celcius Network for the same interest - and the same risks - and they also offer some much higher for many alt coins, if that is your thing.


Comments

  • Registered Users Posts: 229 ✭✭ donnaille


    It's only a red flag if you evade tax, as long as you do everything above board then it's a non-issue.


  • Registered Users Posts: 6,420 ✭✭✭ correct horse battery staple


    I used them before when they were just a bill paying with crypto service, they were fine, done what said on tin

    Trying to signup to their app but of course its having a hard time with Irish addresses, lets see how good support is :) I think continentals always get thrown off by how lax we are with our addressing (no house numbers or street names in local areas in some cases), tho I wonder what they would make of eircodes


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