Why should you take payment in crypto ?

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I have started providing some services only for crypto payment and I let those funds grow. Here is the growth in one month.

knJCnTR


In brief, the amount doubled in a month. If possible, you should also consider taking payments in it.
 
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Yep, there are positives such as that and the fact you can't get chargebacked on.
 
Alfie777 said:
Yep, there are positives such as that and the fact you can't get chargebacked on.
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That is another advantage. Only payment option that is in favor of sellers. :)
 
Hahaha no.

Ether market crash before change to fiat will cost you
 
Basileuon said:
Well, at least not in Europe...
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Indian govt. hates crypto. I dunno Krishna filled up the IT returns or not but I actually had to show the transactions as payment for web development, as my accountant suggested last year. The problem is, if you withdraw too much in a year, or if your whole income is dependent in those transactions only, you are gonna get in trouble for sure.
 
Gogol said:
Indian govt. hates crypto. I dunno Krishna filled up the IT returns or not but I actually had to show the transactions as payment for web development, as my accountant suggested last year. The problem is, if you withdraw too much in a year, or if your whole income is dependent in those transactions only, you are gonna get in trouble for sure.
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I don't want to say, but why are you showing your crypto-wallet to them?
 
Basileuon said:
I don't want to say, but why are you showing your crypto-wallet to them?
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Why would I show them my wallet? The problem is when you try to cash it out. I use localbitcoins btw.
 
and in india it is not difficult to arrange a fella with no use of bank , pay him few 100s, and cash it out all in paper, and keep it
do it once a year.
 
Gogol said:
The problem is, if you withdraw too much in a year, or if your whole income is dependent in those transactions only, you are gonna get in trouble for sure.
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How much is too much ?
 
krishnaverma said:
How much is too much ?
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I would believe exceeding the minimum taxable income because that is when they start tracking you. Don't be surprised if they come after you for a 50000 rupees transaction because they ask for PAN after that right?

You can pay taxes on the crypto income but still can get fucked by the govt because of the source ;)
 
krishnaverma said:
Is this a joke ?
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No. Not at-least from my side. I am very freaked out when it comes to Income Tax and I pay all my taxes every year. Take it of leave lol.

By the way.. "they start tracking you" thing is mostly for those who have their PAN and who deal with bank transaction. Every time you get/pay money, your PAN has it logged. The banks have to send your detail every year AFAIK.
 
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