Last question of the day, Thanks for all your responses on the previous post.
Would it be better to buy standard Bitcoin through not kyc exchange or Coinbase? Which would be cheaper in fees and so on?
Thanks again
2 Likes
This question is kind of open-ended.
First, how would you purchased BTC without KYC? Do you already have funds on a protocol that you can sell for BTC? Otherwise, you’ll have to use FIAT currency which has KYC.
As for fees, it varies depending on how much you’re buying and where you’re buying. You should check out the top CEXs like Coinbase, Binance, KuCoin, Kraken, etc. until you find the best fees for your purchase. In most cases, they only charge a flat fee to purchase crypto with fiat currency.
Coinbase I am pretty sure is the largest exchange, I use them. Very easy for
people whom are new to the space.
Oh sorry, yea Coinbase is very very expensive to use.
KYC protect clients and investment advisors both from potential dangers.
You can use KYC Exchange.
Get it from Kucoin. It is the 4th largest cryptocurrency exchange and KYC is not required for now. Has the potential to become the next binance
1 Like
They are Binance, not potential to become.
I first thought this when KuCoin started trading BNB , but the nail in the coffin came when I joined the Kucoin/Binance AMM trade group that Kucoin invited me into.
I’m not saying they are the “same” company but they are joined at the hip. Just like Binance and Coinbase jointly created USDC.
I do agree with you about Kucoin though and buying BTC from them. I recommend users to buy on holidays. Kucoin often host a buy X amount of BTC or ETH and get 1-5% free (or other perks such as enrollment in random airdrops). Holiday or not, buy during a KuEvent.
Hey JLC, Screw KYC . We didn’t get in to crypto so our masters/government can issue us tax licenses. I strongly advise you avoid all KYC. Any exchange that forces KYC is anti-Satoshi and Pro-oppression. Don’t let there greed dictate your freedom. I trade, hodl, mine whatever for a living. CASH is my buddy. I buy with cash, I exit with cash. No banks, No plastic cards that charge and offer a %. Crypto equals financial freedom, don’t allow anyone to use crypto to force or enslave anyone. The only reason KYC is a thing is because exchanges want to make sure they can throw you under a bus to save themselves. If they have the balls to exchange crypto which devalues governments , they should have the balls to not pass the punishment onto you.
1 Like
FYI, not doing KYC does not release you from your tax obligations.
KYC is a huge pain, but it’s pretty nice to be able to easily transfer fiat. It is what it is.