Receiving bitcoin donations through my website

Aanuoluwatofunmi

sr. member

Activity: 532

Merit: 390

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

If I am receiving some small bitcoin donations - 15,000 to 35,000 sats per donation, then how do I know if that donation is from a KYC exchange or a non-KYC exchange?

Does the answer depend on the address of the sender?

The donation you're receiving is not a thing of consideration on whether its coming from a KYC exchange or an exchange that does not require for KYC, its not amount all these that determined whether the coins will be suspected or not for illegal financial activities, though i still understand this as part of the reason some will come and tell you they will only make use for decentralized exchanges in other to avoids other shows from a centralized one, but honestly one doesn't have to worry himself from those making donations and from the account they are doing that from.

moneystery

full member

Activity: 714

Merit: 168

★Bitvest.io★ Play Plinko or Invest!

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

.....

I'm still a bit confused about this. I don't want to mix up my KYC and non-KYC coins.

Thanks

why do you want to separate it? moreover it doesn't mean that you can separate it because bitcoin from cex or from whoever it is, it is still bitcoin and you can't say that it is bitcoin from kyc user or not kyc because you can't tell the difference. it seems that you still don't understand about bitcoin, you should learn bitcoin and how it works.

SickDayIn

member

Activity: 84

Merit: 14

Mixing up KYC and non KYC coins? It's all cryptocurrency. You should really only be worried about receiving coins that come from a darknet market, OFAC sanctioned addresses, or from a OTC russian exchange. That will get your coins locked if you ever move them to an exchange without many hops.

dezoel

legendary

Activity: 2044

Merit: 1075

Leading Crypto Sports Betting & Casino Platform

I think you still don't know the answer because if you do, then you won't be here with this thread. And those amount of sats you listed there are not cheap anymore since BTC values have shot up already. To answer your question, I think a huge company such as CEX/KYC-based exchange will always have a special indication on their wallet addresses.

I already read your reason about this and I'd say that you should not worry as long as BTC is legal in your country. They will never restrict you, also as long as you won't do anything that is shady. About segregation, maybe you can put some disclaimer around the donation page about it and you will need to set-up two different wallets for it.

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: PX-Z on June 09, 2024, 01:38:27 PM

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

I'm still a bit confused about this. I don't want to mix up my KYC and non-KYC coins.

Does this really matter? When you are just the receiving point? What's your concern about this aside from getting mix from KYC or not.

As long it's not from hacked platforms, malicious actors, or any kind of criminals, you're good.

Well said mate. I don’t think it’s still a must to detect whether the donation is from KYC or non-KYC exchange. After all, whatever it is, the edge is all yours. Whether it’s from a scam or not, the fact that those coins are already inside your wallet, then it’s all yours. Except if you are hesitant to accept it because of your issue, then definitely that will be your loss.

Assface16678

full member

Activity: 1358

Merit: 134

★Bitvest.io★ Play Plinko or Invest!

Quote from: PX-Z on June 09, 2024, 01:38:27 PM

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

I'm still a bit confused about this. I don't want to mix up my KYC and non-KYC coins.

Does this really matter? When you are just the receiving point? What's your concern about this aside from getting mix from KYC or not.

As long it's not from hacked platforms, malicious actors, or any kind of criminals, you're good.

True, I don't think there is a factor about that. I mean, is there a case when a coin will not be able to be used just because it came from a non-KYC exchange? I mean, for sure, there are no exchanges that will allow a user to send from an exchange to a different exchange platform because KYC is mandatory right now in all exchanges, even on different platforms, so I think you are good to go. You can use those coins that have been given to you through donations; you don't need to stress yourself out. KYC is very important and mandatory right now, so those who don't comply cannot send any assets or currencies to different platforms. I once tried it, and I can't send anything to another platform. Of course, you cannot risk putting your asset in a non-KYC-verified account because it can be locked up, so it's better to comply.

PX-Z

hero member

Activity: 1428

Merit: 836

Top Crypto Casino

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

I'm still a bit confused about this. I don't want to mix up my KYC and non-KYC coins.

Does this really matter? When you are just the receiving point? What's your concern about this aside from getting mix from KYC or not.

As long it's not from hacked platforms, malicious actors, or any kind of criminals, you're good.

Belarge

member

Activity: 434

Merit: 85

Eloncoin.org - Mars, here we come!

Quote from: Volimack on May 24, 2024, 08:18:11 AM

When the bitcoin is donated you will understand yourself if the exchange is kyc or not then you will be asked to kyc. As far as I understand both wallets you can use all wallets for donation are same capacity or don't want to mix kyc and non-kyc coins so using separate wallets for kyc and non-kyc donation can keep donation in different ways.

KYC is very important and it's meant to be passed by people that indulges in crypto activities, this is because there's presence of bots. Bitcoin donation is privatized by those investors and holders, but there should be frequent record of every bitcoin transaction coming in and fro. Bitcoin should be stored in custodial wallets for there safety and ensure to keep the 12 phrase discreet. In crypto, we don't expose ourselves to the society, rather we keep them at distant and also executing more projects to ensure there's probably smooth.

Mrbluntzy

member

Activity: 294

Merit: 40

★Bitvest.io★ Play Plinko or Invest!

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

I'm still a bit confused about this. I don't want to mix up my KYC and non-KYC coins.

Thanks

The answer to your question is no. You can actually tell if the coin comes from an exchanged wallet or not but what you wouldn't know is if the exchange is a KYCd exchange or not. I don't think anyone can know this either, unless they are told.

Maus0728

legendary

Activity: 1904

Merit: 1563

Bitcoin Casino Est. 2013

You're probably better off not worrying about that one, I think that you'd be better off worrying how you would make sure that you'd get the full bitcoin and not the after tax because that's where it's going to hurt the most especially when you don't want the government to have a piece of that bitcoin profit, you're probably going to need to do something about that one, much more scary than distinguishing the exchange bitcoins from non-exchange bitcoins.

blckhawk

sr. member

Activity: 1526

Merit: 332

★Bitvest.io★ Play Plinko or Invest!

Quote from: rodskee on June 08, 2024, 10:55:33 PM

Quote from: blckhawk on June 08, 2024, 10:37:06 PM

~

If you have bought time to read some post above mate you will see what OP says about your smelling here as I will
be happy sharing what OP says here

Quote from: remifa287 on May 23, 2024, 06:26:15 PM

No, I'm not doing anything wrong or illegal. I simply don't trust that my government, the same one inflating my dollar, has my best interests at heart. I don't want any government telling me how, when, and where to spend my money or currency. If I want to buy a 'Snickers' bar or a loaf of bread, or a gallon of gas, then that's MY business, not the government's. I don't trust banks either now that they are closing accounts based on adherence to their corporate ideology.

You don't have to answer my question, but I am a firm supporter of Bitcoin and understand what it affords me. I will navigate these bitcoin softwares as best I can. Good day.

so Maybe its enough to understand what he really meant asking this here though it may be helpful if we extend our
advise and helps for op.

If what OP says is true then technically I'm right, he doesn't want to pay taxes on his bitcoins because he hates them, you just pointed out what I'm trying to say there, thank you. Yes, I might be wrong that OP isn't doing anything illegal but my point still stands, OP doesn't want the bitcoin donations that they're getting to be taxed, I mean I too wouldn't want the government to benefit in my work when I know that it's not going to go anywhere but the pocket of officials, but still even if the cause isn't wrong or that you share the sentiments with it, the law will not, in the eyes of the law, if you help that person evade their taxes then that means you're an accomplice to the crime.

God bless u

full member

Activity: 280

Merit: 110

Eloncoin.org - Mars, here we come!

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

Hello. For some reason I'm really not sure if I already know the answer or not. Still learning.

If I am receiving some small bitcoin donations - 15,000 to 35,000 sats per donation, then how do I know if that donation is from a KYC exchange or a non-KYC exchange?

Does the answer depend on the address of the sender?

I'm still a bit confused about this. I don't want to mix up my KYC and non-KYC coins.

Thanks

First of all it's not legit to ask for suggestion for illegal actions. Any good traders know the basics of trading laws and as a sensible traders he/she will never giver any suggestion against the norms.

Governments and blockchains have right to charge you. No matter how much they charge you can launch legal campaigns for reductions but that's not the right way. As far as the address is considered it depends upon chain to chain consider contacting the help and support section.

Don Pedro Dinero

legendary

Activity: 1330

Merit: 1545

The first decentralized crypto betting platform

Quote from: Vod on April 24, 2024, 11:08:56 PM

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

I don't want to mix up my KYC and non-KYC coins.

Why? If you only want to pay taxes on KYC coins, that would be illegal. Since this is not a darkweb pirate-type forum, giving you direction could incriminate us with whatever you do.

But it also doesn't make sense, I don't know if it's a person who doesn't know much about bitcoin and is mixing things up. If bitcoin is yours, it makes sense not to want to mix it up. You can have a bitcoin that you bought in an exchange with kyc and another bitcoin bought in another way without kyc (that because it was without kyc does not mean that you are not going to declare it later). But it is not good that someone who observes the blockchain can know all the bitcoin you have, so it is better to keep it separate.

But as for the donations, as you say, he should declare them all. The fact that some come from exchanges with kyc and others from other sites without kyc is not relevant.

rodskee

full member

Activity: 2394

Merit: 198

★Bitvest.io★ Play Plinko or Invest!

Quote from: blckhawk on June 08, 2024, 10:37:06 PM

I'm smelling someone here trying to use a charity as a way to evade taxes, I mean why are so you uppity about the segregation of your coins when if you're a real donation platform, it wouldn't really matter because the money or the proceeds will probably go with the projects that you're planning to materialize right? As @Vod has said, no one's going to help you out in this situation because the extension of who's at fault will go to the person that helped you do it. Probably for the best too that this is the thing that many decided to do.

If you have bought time to read some post above mate you will see what OP says about your smelling here as I will
be happy sharing what OP says here

Quote from: remifa287 on May 23, 2024, 06:26:15 PM

No, I'm not doing anything wrong or illegal. I simply don't trust that my government, the same one inflating my dollar, has my best interests at heart. I don't want any government telling me how, when, and where to spend my money or currency. If I want to buy a 'Snickers' bar or a loaf of bread, or a gallon of gas, then that's MY business, not the government's. I don't trust banks either now that they are closing accounts based on adherence to their corporate ideology.

You don't have to answer my question, but I am a firm supporter of Bitcoin and understand what it affords me. I will navigate these bitcoin softwares as best I can. Good day.

so Maybe its enough to understand what he really meant asking this here though it may be helpful if we extend our
advise and helps for op.

blckhawk

sr. member

Activity: 1526

Merit: 332

★Bitvest.io★ Play Plinko or Invest!

I'm smelling someone here trying to use a charity as a way to evade taxes, I mean why are so you uppity about the segregation of your coins when if you're a real donation platform, it wouldn't really matter because the money or the proceeds will probably go with the projects that you're planning to materialize right? As @Vod has said, no one's going to help you out in this situation because the extension of who's at fault will go to the person that helped you do it. Probably for the best too that this is the thing that many decided to do.

SilverCryptoBullet

member

Activity: 97

Merit: 43

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

If I am receiving some small bitcoin donations - 15,000 to 35,000 sats per donation, then how do I know if that donation is from a KYC exchange or a non-KYC exchange?

You can try to find information for addresses of donators.
List of useful Bitcoin block explorers
https://www.walletexplorer.com/
https://platform.arkhamintelligence.com/
https://bitinfocharts.com/bitcoin/explorer/

Quote

Does the answer depend on the address of the sender?

It depends on not only addresses of senders but how senders, donators used inputs, outputs for their bitcoin transactions.

General guidelines for sending BTC transactions

Quote

Don't send round numbers
Don't send round amounts. Instead of sending 0.1 BTC, send 0.10125

Use Bitcoin Mixers
Mixers add an additional layer of privacy to a transaction to avoid exposing user identities.

Avoid reusing wallets
Don't send your Bitcoin change to the same address you use for sending bitcoins.

Avoid including many of your addresses in one transaction
Any time you can, try not to send BTC from your various Bitcoin addresses.

Avoid using "send everything" option
If you are withdrawing funds from an exchange, it is okay.
If you're moving funds to another wallet, do not transfer the whole amount to another address. It greatly compromises your privacy.

bitterguy28

full member

Activity: 2002

Merit: 175

★Bitvest.io★ Play Plinko or Invest!

you have your answer mate , though am still confused for your complete reason stated above this post but i will respect that and yeah while I also don't trust government that big but nothing I can do but to follow the rules because I am a citizen .
anyway good luck to your donation business mate , and hope you will grow a lot in keeping those coins and may have privacy in all your spending .

Quote from: jrrsparkles on May 24, 2024, 03:20:57 PM

To OP, you don't get to choose who can send to an address, anyone can as long as they have BTC and the address, you no need to worry about receiving if it's actually donations and not just a coverup or laundering the money to avoid taxes, right?

But you can stop using them if you want to, by using coin control feature that can be used to freeze specific UTXOs.

Maybe he already have His answers because never that he posted here again .

BADecker

legendary

Activity: 3766

Merit: 1368

Since your name isn't in the laws regarding crypto taxpayers, none of the crypto tax laws apply to you. In fact, all the info in all the US tax laws applies to 'persons'. In law, persons are not people until the people accept that they are persons.

So, you are not a taxpayer... except when you have accepted that application of that term to yourself. If you are not a person or a taxpayer, what are you? Simple. You are a man or a woman, right? Tax laws can't be made to apply to men and women who are not persons, because doing such is not constitutional.

Laws are very precise. They don't assume anything. They mean what they say. Don't let a government 'salesman' talk you into being a person rather than, or in addition to, being a man or woman.

Search on 'offer and acceptance' in law. Anybody who tells you that you are a person on any government form is making an offer for you to accept what they say. Do not accept, right from the start.

Cool

jrrsparkles

sr. member

Activity: 2422

Merit: 266

Eloncoin.org - Mars, here we come!

To OP, you don't get to choose who can send to an address, anyone can as long as they have BTC and the address, you no need to worry about receiving if it's actually donations and not just a coverup or laundering the money to avoid taxes, right?

But you can stop using them if you want to, by using coin control feature that can be used to freeze specific UTXOs.

Volimack

member

Activity: 392

Merit: 12

★Bitvest.io★ Play Plinko or Invest!

Quote from: remifa287 on April 23, 2024, 06:13:21 PM

Hello. For some reason I'm really not sure if I already know the answer or not. Still learning.

If I am receiving some small bitcoin donations - 15,000 to 35,000 sats per donation, then how do I know if that donation is from a KYC exchange or a non-KYC exchange?

Does the answer depend on the address of the sender?

I'm still a bit confused about this. I don't want to mix up my KYC and non-KYC coins.

Thanks

When the bitcoin is donated you will understand yourself if the exchange is kyc or not then you will be asked to kyc. As far as I understand both wallets you can use all wallets for donation are same capacity or don't want to mix kyc and non-kyc coins so using separate wallets for kyc and non-kyc donation can keep donation in different ways.

Topic: Receiving bitcoin donations through my website (Read 258 times)