I’m exploring the most efficient way to transfer funds monthly from Turkey to Japan and considering cryptocurrencies, specifically USDT, as a potential method. I have a few questions and concerns that I hope to get your insights on:
1. Conversion to Cash: Once the funds are in Japan, how feasible is it for the receiver to convert USDT to Japanese Yen in cash? Are there preferred exchanges or services in Japan for such conversions?
2. Tax Implications: Does receiving USDT monthly and converting it to Yen classify as income that’s taxable? I want to avoid taxes since this is not an income I will be sending money to my family.
3. Alternatives: If anyone has experience or knowledge about better alternatives for such transactions, your advice would be greatly appreciated.
I aim to find a method that’s not only efficient but also compliant with the laws and regulations of both countries. Any advice, experience shares, or pointers towards relevant resources would be incredibly helpful.
by csonuzun