Buy or sell coin and kyc | Bitcointalksearch.org

AakZaki

legendary

Activity: 2338

Merit: 1084

zknodes.org

Quote from: Eth pro on May 06, 2020, 08:03:33 AM

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

KYC is not required when buying and selling crypto coins. There are many ways you can do besides having to do KYC.
Buying and selling altcoin can be done on decentralized Exchange such as Etherdelta, Forkdelta etc.

But when you want more specific and more complete features for trading needs, Binance is an option, but you have to use KYC. I think Binance is safe to do KYC. But it depends on you.

KYC which is prohibited is on the Exchange which does not have credibility and high quality, because it will be very prone to be misused.

Review Master

sr. member

Activity: 1456

Merit: 280

BitByte Crypto: https://link3.to/bitbytecrypto

Quote from: joniboini on May 10, 2020, 12:55:55 AM

Almost any centralized platform will ask for KYC. Not to mention they take some fees and sometimes it's more than 1%.

It'll happen when someone wants to transfer any large amount of crypto or fiat currency. But there are high rated centralized platform which offer to transfer 1-2 btc daily without any kyc. Also there are so many exchanges/platforms which take a unfair fees. That's really unacceptable. Sad

Quote from: joniboini on May 10, 2020, 12:55:55 AM

If anyone doesn't want to do it then P2P trading is their option. Trading between trusted users on this forum is a great alternative, not to mention you can ask for KYC if you don't trust them.

yeah, there are so many escrow services by the highly reputated forum users. So it won't need to ask for kyc to make a deal with them. But if someone not in the list, than anyone should verify the user's reputation or if the user is trustworthy or not.

Shimmiry

full member

Activity: 840

Merit: 105

★Bitvest.io★ Play Plinko or Invest!

Quote from: Eth pro on May 06, 2020, 08:03:33 AM

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

To sum up the answers, the KYC's idea is simple. It is just to have a valid document that a platform's user is not cheating with their system by having multiple accounts, and also to validate that he is indeed a real person. Some uses kyc to atleast have a legal proof if ever something goes wrong such as a client stole certain coins. For short, it is just an assurance of the reliability of the person, a simple handshake of trust. Yet, one must also be careful on whom and where to give his identity.

aioc

hero member

Activity: 2926

Merit: 567

Quote from: Eth pro on May 06, 2020, 08:03:33 AM

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

This is just one of the options there are many options to buy Crypto where you will still become anonymous, but why not go for what it is intended for like peer to peer if you are going to hodl for a long term, there are people, trusted people whom you can trade in the service section some of them are offering escrow for the safety of both parties.

joniboini

legendary

Activity: 2170

Merit: 1789

Almost any centralized platform will ask for KYC. Not to mention they take some fees and sometimes it's more than 1%.

If anyone doesn't want to do it then P2P trading is their option. Trading between trusted users on this forum is a great alternative, not to mention you can ask for KYC if you don't trust them.

Subbir

full member

Activity: 798

Merit: 104

🎄 Allah is The Best Planner 🥀

You are right that by doing KYC they are doing not take our personal information and drive us illegally for concealment That's why you ought to stand back from buying and selling coins with KYC. These sites are never good. This KYC creates new scams Good and reliable sites never invite KYC. These are often verified by mail So don't invest in these sites and be wary of those platforms.

jademaxsuy

full member

Activity: 924

Merit: 221

Quote from: Eth pro on May 06, 2020, 08:03:33 AM

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

It is not necessary to do all of that which is called KYC. It depends on the platfork you have used. Some will ask your personal documents like ID and more to confirm that it is you. Some site implement KYC for some reasons to make people not doing illegal activities like money laundering for example or else they will face some issues, problems or consequences.

LbtalkL

full member

Activity: 1176

Merit: 162

Try to visit https://paxful.com/ they have so much option to choose from and which payment you're most comfortable I guess they have 330 options of payment method. They have bank transfers, western union, alipay, different gift cards and many more. Yes, Crypto is anonymous but some of the platform is doing KYC due to some regulation if they don't comply they will suffer some consequences or penalties. Also, to avoid fraud, only platform is doing those KYC the crypto or blockchain itself is not requiring those KYC and still anonymous. The problem is what if those platforms got hacked? So I respect you for not being comfortable with KYC our data if very important.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18748

Quote from: Towerbreeze on May 08, 2020, 09:42:03 AM

some exchanges or crypto platform accepts direct Fiat deposit e.g binance exchange, KYC shouldn't be an issue if you have a clear mind, it's all for the sake of crypto world, some criminals are embezzling money with coins that's why KYC is important

If you want to use fiat on Binance via any method, be it credit card, bank transfer, direct deposit, etc., you will need to complete KYC. They might let you deposit first but then lock your account and freeze your money until after you perform KYC though.

Saying KYC isn't an issue if you aren't doing anything wrong is complete nonsense. This is just the "nothing to fear, nothing to hide" argument dressed up in a new skin. I am not doing anything illegal with bitcoin, but that doesn't mean I want a variety of complete strangers the world over being able to stick their noses in to my financial transactions whenever they like. I assume you aren't doing anything illegal online, but you don't share the passwords to your email addresses and social media accounts on here. The principle is exactly the same.

Quote from: Towerbreeze on May 08, 2020, 09:42:03 AM

the top and best coins are Bitcoin and Ethereum, just do your own research, you can use coinmarketcap.com

Being a "top coin" on coinmarketcap means nothing as market cap is a meaningless statistic. Several of the top 10 coins are outright scams. You're safer just sticking to bitcoin.

Towerbreeze

member

Activity: 166

Merit: 10

Quote from: Eth pro on May 06, 2020, 08:03:33 AM

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

Buying coins with credit card is not the only way, some exchanges or crypto platform accepts direct Fiat deposit e.g binance exchange, KYC shouldn't be an issue if you have a clear mind, it's all for the sake of crypto world, some criminals are embezzling money with coins that's why KYC is important

Make sure you invest in popular coins only, we have too many scam projects in crypto world today, they are jaguars waiting for their preys, the top and best coins are Bitcoin and Ethereum, just do your own research, you can use coinmarketcap.com

Review Master

sr. member

Activity: 1456

Merit: 280

BitByte Crypto: https://link3.to/bitbytecrypto

Quote from: BitSat19 on May 06, 2020, 12:48:35 PM

Now many reputable sites also giving this service to users as they able to buy and sell bitcoins and altcoins for credit card without any hassle and KYC mean Binance and HitBtc both offering this service and CEX is not good and please think before doing any business with this scam exchange.

Sorry, But i also don't recommend cex exchange either. In that reply, i write CEX for Centralized Exchange as well as we use DEX for Decentralized Exchange. That's it. Also in my opinion, HitBtc is a shady one because of their transections problems. So many users already faced it. BTW, it's just my opinion. Wink

slackovic

legendary

Activity: 2632

Merit: 1239

Quote from: 20kevin20 on May 07, 2020, 02:12:35 AM

Quote from: Eth pro on May 06, 2020, 07:51:11 PM

Thank you for your suggestions friends. I read all. You clarify me many things. I think I will use https://localcryptos.com/ to buy 1eth first. Crypto is a larger world than I thought.
You said about Bitcoin Atm. I didn't know it yet. It sounds interesting. I'm going to explore it now.

I never tried out localcryptos or other platforms to buy crypto off with fiat, but I've used lots of different ATMs. Make sure your closest ATM does not have KYC (or maybe it has a certain limit you can deposit without KYC - check their terms & conditions or call their number to find out) and also make sure it's open now that most businesses are closed.

If you can find one nearby, I suggest you to try it out at least once. Feels much safer imo and you don't have to work with banks to get your cryptos, so as long as there's no KYC.. risks are little.

Also, he can try a local crypto exchange that has an office. For example, in my country we have few crypto exchanges that doesn't require a user to do KYC up to a certain amount. And even if I want to invest larger amount, I can buy crypto several days in a row because the limit is set to 24 hour period.

20kevin20

legendary

Activity: 1134

Merit: 1598

Quote from: Eth pro on May 06, 2020, 07:51:11 PM

Thank you for your suggestions friends. I read all. You clarify me many things. I think I will use https://localcryptos.com/ to buy 1eth first. Crypto is a larger world than I thought.
You said about Bitcoin Atm. I didn't know it yet. It sounds interesting. I'm going to explore it now.

I never tried out localcryptos or other platforms to buy crypto off with fiat, but I've used lots of different ATMs. Make sure your closest ATM does not have KYC (or maybe it has a certain limit you can deposit without KYC - check their terms & conditions or call their number to find out) and also make sure it's open now that most businesses are closed.

If you can find one nearby, I suggest you to try it out at least once. Feels much safer imo and you don't have to work with banks to get your cryptos, so as long as there's no KYC.. risks are little.

nakamura12

hero member

Activity: 2268

Merit: 669

Bitcoin Casino Est. 2013

Quote from: Eth pro on May 06, 2020, 08:03:33 AM

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

Cryptocurrency is really anonymous but the platform that you have didn't follow the purpose of crypto being anonymous. The have their own reasons for that like to prevent money laundering and more that's why they will ask you to complete the KYC on their platform before you can buy some coin. Just make sure you go to ansite that is reputable by doing some research.

Eth pro

newbie

Activity: 5

Merit: 2

Thank you for your suggestions friends. I read all. You clarify me many things. I think I will use https://localcryptos.com/ to buy 1eth first. Crypto is a larger world than I thought.
You said about Bitcoin Atm. I didn't know it yet. It sounds interesting. I'm going to explore it now.

KiloFoxtrot

copper member

Activity: 98

Merit: 4

Quote from: Eth pro on May 06, 2020, 08:03:33 AM

The only way to buy crypto is credit card.

On the contrary, I've encountered some crypto and crypto exchanges that actually do not accept credit cards as a method of payment. But I noticed this only during the ICO of some of the new altcoins that I was somehow interested in participating, when I was still new to crypto.

BitSat19

member

Activity: 476

Merit: 62

Quote from: Csmiami on May 06, 2020, 03:20:55 PM

Quote from: ?? on ??

Dear firend, KYC is essential for transactions between cryptocurrencies and fiat money, and this is only to protect your security and prevent any fraud

No, it is not. And you can still get scammed in places requiring KYC

Yes its happen many time here on this forum KYC never give any protection to any one from scam its just formality from few exchanges and sites just because of International laws and judiciary restrictions.

Csmiami

copper member

Activity: 1652

Merit: 1325

I'm sometimes known as "miniadmin"

Quote from: ?? on ??

Dear firend, KYC is essential for transactions between cryptocurrencies and fiat money, and this is only to protect your security and prevent any fraud

No, it is not. And you can still get scammed in places requiring KYC

o_e_l_e_o

legendary

Activity: 2268

Merit: 18748

Quote from: alik111 on May 06, 2020, 10:56:57 AM

Here is a huge risk to lose funds by being trapped from any scammer.Thats why to be safe some platforms must need to verify kyc.

Completing KYC at an exchange doesn't reduce your risk of being scammed in any way. In fact, completing KYC puts you at a higher risk of being scammed since you are sending all your personal information to a complete stranger, who can then do whatever they like with it, including commit identity theft, fraud, or sell your details to others. Keeping your personal information, KYC documents, email address, etc., private is a good way to protect yourself from some scams, and taking due care and due diligence will protect you from the others.

As mentioned above, LocalCryptos, Bisq, or Hodl Hodl are the best non-KYC peer-to-peer exchanges at the moment, which allow you trade safely and protect your personal information and privacy.

SpanishSoldier

sr. member

Activity: 728

Merit: 256

Quote from: OmegaStarScream on May 06, 2020, 08:55:28 AM

Quote from: Maus0728 on May 06, 2020, 08:37:38 AM

I assume that you have at least created a bitcoin wallet. If you do, you can try buying bitcoin at https://localbitcoins.com/. This site allows you to find willing seller in your vicinity with varities of payment method such as paypal or meeting up with someone so as to avoid KYC.
-snip-

KYC is obligatory in LBC, and in-person transactions has been removed sometime ago. I would suggest OP to use LocalCryptos instead.

Along with LocalCryptos, I'd also recommend HodlHodl.com. Once, user gets pro, Bisq.io is the best for non-KYC purchase of BTC.

Topic: Buy or sell coin and kyc (Read 414 times)