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I have the deposit for a house but I saved through crypto

  • 08-09-2021 06:24PM
    #1
    KurtBarlow
    Registered Users, Registered Users 2 Posts: 408 ✭✭


    I have been saving for a year . I have consistently being putting away 2000 a month and now I have more than enough for a deposit for a house . However instead of saving in a bank with zero interest rates I put my money into crypto month to month and its worked out favourably. Im just wondering if the banks will look unfavourably toward this and dismiss my application



Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 18,197 Mod ✭✭✭✭Henry Ford III


    Why would they?



  • #3
    o1s1n
    Registered Users, Registered Users 2 Posts: 37,706 ✭✭✭✭o1s1n
    Master of the Universe


    Just remember you'll have to pay capital gains tax if your crypto made big earnings.



  • #4
    bmc58
    Registered Users, Registered Users 2 Posts: 3,538 ✭✭✭bmc58


    Do Irish banks accept Crypto Currencies?



  • #5
    o1s1n
    Registered Users, Registered Users 2 Posts: 37,706 ✭✭✭✭o1s1n
    Master of the Universe


    https://www.boards.ie/discussion/comment/117865145#Comment_117865145

    I would imagine he's going to withdraw th crypto into Euro when applying for the mortgage.



  • #6
    Static M.e.
    Registered Users, Registered Users 2 Posts: 3,111 ✭✭✭Static M.e.


    I would expect that the Banks just need you to show them you have been saving the €2,000 a month so there is a history.

    Glad it worked out for you with crypto.



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