Since I began blogging I've found a lot of enjoyment, fulfilment and satisfaction; I like to read and write and engaging with people from around the world has been great also - I've met some pretty cool people and have had a lot of fun. But...Since I began blogging I've also found a lot of frustration also!
I was very novice when it came to cryptocurrency before I started blogging; My brother 
Fast forward three years and I am starting to understand a little, the basics at least...And I regret not on-boarding my lazy-stubborn-ass six months earlier as my brother suggested.
I'm not a crypto-millionaire; What I have was earned through blogging here and a few very small fiat-purchases here and there. I have powered-up all my hive-blogging gains other than a small amount I've sent to Bittrex to trade with. It all goes back into hive eventually though. To date I have not taken any cryptocurrency into the real world, either to savings or for purchases.
I recently secured all my cryptocurrency offline with a Trezor wallet and have been thinking about moving a very small amount of cryptocurrency to a bank account to see how the process works. I'm not cashing out, I just want to know the process in the advent of me needing some funds.
I set up a bank account with a small bank here for that transfer and was going to make the transfer via Living Room of Satoshi however heard from a few crypto-experts (translates to anyone who knows a little more than me) that there might be another option.
So, today I set up my account with Wirex.
Basically Wirex allows me to transfer funds (fiat or BTC, ETH, LTC, XRP etc.) into an account which I can access through the use of a Wirex VISA card at some 54 million places around the world. It has free ATM withdrawals, no-charge fiat to fiat currency exchange and supports 150 currencies. For someone who travels a lot (fuckyou very much COVID for putting a stop to that) this card is a dream!
It also allows me to top up my balance by credit or debit card and crypto-transfer so when travelling, or even here in Australia, I'll be good to go.
This is all really cool and I'll be excited to receive my card which I ordered after going through Wirex's verification process - It's not too bad actually, so don't be afraid of doing so. After verifying my card which will eventually arrive by courier, I'll move some funds and see how it works.
Here in Australia cryptocurrency is taxed as a Capital Gain or as income and there's no way around it, at this point. That's why places like Wirex need the verification process; It's done to prevent money laundering. So, my Wirex VISA doesn't mean I'll be able to spend cryptocurrency with impunity where tax is concerned. It's a complex issue though, and certainly one I'm not qualified to talk about. You can take a look at the Australian Tax Office site if you're interested though...It's pretty clear they have things wrapped up. ATO crypto page if you're interested.
For me I've always expected to lose 50 percent of my holdings to tax. It may be less although I don't think it will be. By reading that ATO page above I can see they cover off on all bases: Chain splits, staking, exchanging, airdrops and the like and I don't expect the government will be keen on missing out on whatever they feel we owe them. Still, I largely earned it for nothing and will be happy to take whatever I can get.
I'm pretty keen to get my hands on the Wirex VISA card and to try it out though. It will be another step towards being less clueless than I currently am...Although I'll be honest, crypto-cluelessness is something that will probably stay with me for life.
How about y'all? Have you got anything sorted in this respect? Have you used your cryptocurrency already, in fiat? What mechanisms do you have in place to do so? I'd be keen to hear some stories if you're happy to share.
Design and create your ideal life, don't live it by default - Tomorrow isn't promised.
Be well
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