I looked at it, but like I said I am extremely leary of the exchanges because it is flagrantly un-crypto. The Blockchain should serve all the needs of the users. Crypto exchanges are profiting by keeping consumers in the dark.
This could only cause a drag on the market b/c it is a financial market…more money equals better and larger market. We need as many savvy users as possible.
Ya know all this hype about crypto and no one really seems to understand it. I haven’t really seen any market players demonstrate any discernable knowledge on the subject.
Generally exchanges are the best option for people trading large quantities; they do charge a fee, of course, but it’s usually less than the other, semi-legal options that would allow you to purchase crypto with no ID. Coinbase charges a 0.1%-0.5% fee last I checked, while crypto ATMs are often 5% or higher, according to what I’ve read. There’s also the availability factor. It’s a lot easier to find $50 in crypto to buy without an ID than it is to find $500,000 in crypto to buy without an ID.
I’m not sure you understand what happens when you buy crypto without an ID through a crypto wallet. You’re not actually buying it from the blockchain; generally, the crypto wallet you’re using buys the crypto itself, often from an exchange, and then charges you a higher fee than what they paid. As far as I know, there are no blockchains that will allow you to directly buy tokens with fiat currency.
I know Coinstar sells Bitcoin, and I have seen a bunch of Bitcoin of America ATMs. There is a fee but you can purchase the crypto w/out an ID if the purchase is under $1000.
Yes but kyc only kicks in for purchases greater than $1000.
I’m not really sure about the legality of kyc. in f banks only have to report if a transaction is greater than 10k why am I having my picture taken as well as all my information when I try to purchase $50 worth of Bitcoin…seems pretty sketchy imo.
but you got me curious about the coinstar so I downloaded the app you need and proceeded to start sign up until I saw the terms and it clearly said I had to consent to them Storing and sharing my biometric info
so yeah nope…
you seem to be speaking so matter of factly yet just repeating the same thing again and again in different ways
To me it seems your regurgitating a point of view you heard and liked the sounds of.
regardless I’m happy more people are looking into and playing with crypto.
truly private coins will be this worlds last vestige of privacy
Bro honestly the private part of crypto is just a added benefit. The real beauty of crypto and it’s ability to “save the world” has yet to be told of. I’ve been sitting back for a couple years wondering when someone would get into the nitty gritty and beyond they market hype. Yes we know crypto is volatile with the potential for huge returns etc.
Also if KYC is such a big deal, but I’m not aware of any government regulations with it on crypto, you can design a Blockchain or purchasing program, that would eliminate the potential for it to be abused for say; money laundering.
Crypto is new and still developing. Given that it can be seen as competitive, for the immediate future, you really won’t get 100% of the story. I’ll admit I withhold info about Blockchains and crypto but try to be as forthcoming as possible without biting my own foot. It’s the nature of a new and developing market.
if you send to Coinbase pro… then use the in app option to send to Coinbase…
they don’t automatically report earnings with that program as they can’t know how long you had them
and if used in conjunction with the incognito wallet
https://incognito.org/
You can also buy and sell in the wallet but I have yet to try it
They’re so pro privacy as they’re in a non extradition country lol
So if there was a wallet to offer the option to buy without KYC it’d be these guys
It entirely obfuscates even forensic analysis of the chain
“ Privacy Coins (pCoins) are 1:1 privacy-protecting equivalents of cryptocurrencies like BTC (pBTC), ETH (pETH), BNB (pBNB), etc. They do not appear on public block explorers and are completely confidential.
When a coin enters the Incognito network through a connecting bridge, a pCoin is minted. When a withdrawal is made, the pCoin is burned, and the coin is released to the external wallet.”
so other people who have this wallet… when you send a money to someone it doesn’t even appear on the public blockchain
The important thing to remember with incognito tho
so when you send let’s say .1 BTC into the system… it mints you .1 pBTC
your actual Bitcoin then goes into a pool with all of the other bitcoins
so you can even take that .1 pBTC
trade half of it for insanely cheap to monero (Pcoin tho)
Trade half into… ripple (pcoin)
so now you have privacy coins of monero and Ripple
all of these trades happened off public explorers
so you can then send those to a normal wallet where they are converted back to their respective real versions and you now received tumbled monero and ripple that never had anything to do with you to begin with
the only thing that can make it obvious
Is if you send .233001 BTC into the system
Then take out .233001 BTC in tumbled
That will be obvious upon inspection
the longer it’s in the system the better
And never put in and withdrawal the same amounts or your defeating the purpose
idk if I’d put 200,000$ into it but I trust it with 1000’s of dollars yes absolutely
Download the app, they have a very active community and every time I’ve had a question I’ve gotten prompt answers
but yes you get exactly however much you put in minus obvious fluctuations that have happened while it was in…
I use it to swap coins just for that purpose alone
it’s so intuitive and cheap
And you can swap from coin to coin instantly and there’s like 200 different coins now
there’s a learning curve for sure I would just throw 10-20 in and play with it
Haha, if you are a tax paying citizen your could make a burner coin and then just pay yourself with cash and then mint the burner coin. But as this is very close to money laundering you would have to properly account of all transactions so your taxes are correct. To do this you have to obey all the laws. You would basically end up paying your “taxes” with cash. Does the IRS take cash?
Collect all the cash you used create your burner coin and put it in a big box labeled “property of the federal government”, lol .
they have PayPal, zelle, cash app etc etc
No KYC needed and funds got released within literal minutes. 2 tops
I also have been playing with bisq a bit and I like it
And to the person that said bisq could be hacked as an exchange
Everything is local to your comp
.