How do you guys launder your money to fiat and ultimately to your bank accounts? (x-post from r/darknetmarketsnoobs)

Not sure if this is going to be allowed but I figure I'd try. I was wondering how you guys would go about getting any money you acquire for your activities on the darknet back into your bank accounts without raising suspicion. I sell certain products and I also trade cryptocurrencies which I would like to avoid paying taxes on as much as possible.

I'm thinking I could deposit the majority of my cash income without it looking TOO sketchy, I could say I resell stuff on Craigslist or something.

As for my cryptocurrency income though, I'm not entirely sure what to do. My current plan is to buy some fake ID documents and use them to set up some exchange accounts to do trading on. Then whenever I want to cash out, I could convert to Monero and then to BTC or ETH and sell on LocalBitcoins and other similar sites for fiat.

Any ideas or input would be greatly appreciated. Cheers


Comments


[78 Points] MoneroShill:

Nice try Fed.


[44 Points] aorshahar:

Why put it in your bank account unless you absolutely have to? Keep it as Bitcoin or cash


[23 Points] gemeinsam:

How is this as an idea: Buy Amazon Gift Cards with Crypto. Sell them on Craigslist for 95% of the value and profit. No taxes, no eyebrows risen, anonymous.


[9 Points] GS23L:

Go to casino cash in for chips play for a while and cash out. No questions asked. You're not exactly walking in with a million dollars of cash ol


[8 Points] GS23L:

In all seriousness though if you really have to ask (and on a public forum) you shouldn't be doing it and you're in the wrong business. My best advice would be to read into your state/countries laws in regards to tax and maybe look into the maximum amount of cash you can deposit into your account without raising any eyebrows from the taxman and the bank


[7 Points] AInterestingUser:

Start a band and buy all your terrible records.


[4 Points] Nandy-bear:

I've got about 10 numbers for bitcoin vendors who do it via cash off the books. Most of the localbitcoins vendors will do it, check their profiles.

It's a good idea to build up a relationship with em. I'm going back quite a while, but I'm still in touch with a few of the lads I got to know. They're just as eager to make money as you are, and the longest established ones most probably got into it themselves via drug funds. The old days of SR and beyond, people had a shit-ton of bitcoins and no idea what to do with em, so most because bitcoin traders.


[3 Points] MuchoLoco:

Here’s my 2 cents:

I work a job where it’s not unusual to make 200$ cash in tips on a good night. Not including credit card tips which are automatically taxed.

200 x 365 = 73,000$ in pure tips

Let’s say you have a few good nights of 400$ cash, anyways you will end up paying taxes on it and it is a slow money laundering method. But just treat it as legal money and make small deposits .


[3 Points] beefbiber:

I bet you could buy a money laundering for dummies book.


[3 Points] ByteMoar:

This is how YOU launder money silly fed, you use your crypto to buy products on merchant sites that's accept crypto such as Overstock.com, then resell the products on sites like Amazon, eBay,Craigslist, LetGo, Swapmeets, etc. Then you win.


[2 Points] BiasGoldfish:

Personally I'd start a legit business selling bitcoin and say I purchased them back in the day if I was audited. Seems like as long as you had good OPSEC and didn't make too much money you probably wouldn't be under too much scrutiny. But IDK


[1 Points] None:

[deleted]


[1 Points] dnadave83:

just say your mate gave you the btc years ago as a gift and you just cashed it in, or use a bitcoin debit card


[1 Points] Chang_Diesel:

Move to Nevada and start escorting


[1 Points] ksosk:

I don't know, sell abstract art through a website with BitPay (you can ShapeShift Monero to BTC for a quick wash) or some shit.


[0 Points] Hurricane_Fly:

Offshore bank account


[0 Points] throwzawayy:

boof it


[0 Points] qemist:

Bank accounts are enemy territory.


[-1 Points] dethcone:

I wouldn't.


[-3 Points] Losershero:

You must be new to the game?


[-3 Points] Losershero:

Does your wife hold your dick when you pee?


[-2 Points] CookiesSF:

Pay your fucking taxes.


[-3 Points] AlpraCream:

I used to use BTCE as a way to tumble coins before sending them to coinbase. BTCE was basically a very large tumbler, no KYC policy and once you sent your coin there and sent it to coinbase to cash out, coinbase could not tell where my coin came from before it reached BTCE. I only had to do that once when I made two btc doing something on a dnm and wanted to cash out.