The more money exchange maneuvers, the less anonymous you will be... The only way to maintain this is to be in a blockchain environment, where you will be just one address among several...
But to exchange for fiat money and keep the anonymity only in person via P2P and exchanging for physical money, but there are many risks in this regard, that it may not be worth running just to maintain anonymity
Topic: Cashing out BTC from Zengo...questions. (Read 189 times)
It depend the country you are right now, if your country is not against BTC, why are you looking for where you will be remain anonymous in your transaction or are you trying to do some illegal transactions with crypto without the knowledge of your government? Your government will surely know because they understand crypto transactions.
But if BTC is legalized in your country, you can make use of binance app which is among the safe p2p exchanges platform, that will make your transaction successful with the coins you wanted to convert to BTC.
If you are tired of hodling the zengo in your wallet and you want to convert it to BTC, i guess that is a good decision OP, but you don't need to be afraid of KYC which is for your own favor and it will make the transaction very clear for your satisfaction.
But if BTC is legalized in your country, you can make use of binance app which is among the safe p2p exchanges platform, that will make your transaction successful with the coins you wanted to convert to BTC.
If you are tired of hodling the zengo in your wallet and you want to convert it to BTC, i guess that is a good decision OP, but you don't need to be afraid of KYC which is for your own favor and it will make the transaction very clear for your satisfaction.
You guys have any experience in dealing with bisq? What are your feelings on it?
I have only used it sparingly, and not since several upgrades ago.
I want to say I like it. I think it's really the way P2P should be, but it's not easy for the first-timer to even open and get connected to the software, let alone find someone available to trade. I've never been able to convince anyone to use it more than once! And myself, I've moved on to my own direct p2p with the same circle of people for years.
So like Potato Chips says, learning curve...
So bisq is not a wallet itself? Just a platform to do peer2peer transaction?
Bisq is a standalone software, you'll need to install and run it. It will create a wallet for you to deposit your coins into (including fees and your security deposit). You will be able to retrieve all your keys to sweep out to your own wallet.
P.S. Another option, depending on what currency you want, is to trade with someone on this forum (currency exchange subforum). Probably easier for the first time, but you'll bear all the risk (no escrow). If you go this route, choose an offer from a user with a high trust rating and long reputation of good feedback.
New here. So I have a wallet with Zengo. I chose them due to the fact that they are mainly anonymous and don't require you to link your bank account.
I never heard about Zengo, but it looks like some closed source wallet and I would never use to to store any of my coins.I have some money in the wallet which I would now like to get out. An options they have for me is to exchange the BTC to a Stablecoin.
I would not do that because you will be stuck with stablecoin that you can't send anymore, until you have base currency like etherum, tron, or bsc coin. I guess I would then send the Stablecoin to my coinbase wallet and from there, deposit it into my bank.
No need to send anything to Coinbase.Depending on your location you can find plenty of cash p2p deals using PeachBitcoin app or Biqs exchange.
PeachBitcoin app is easy way if you prefer to use mobile devices, and Bisq is more complicated and suited for desktop users.
does anyone have any other methods of receiving BTC anonymously with the ability to cash it out?
It depends if you are using Bitcoin mainchain or Lightning network.Robosats and lnp2pbot are good options if you are using Lightning wallets to trade with cash.
thank you for the reply. You guys have any experience in dealing with bisq? What are your feelings on it?
Honestly, the most private p2p exchange I've ever seen + has extremely high rep in crypto space. But there is a good amount of learning curve to get a gist of things + you could encounter liquidity issues esp with less popular fiat currencies.Quote from: op
if thats the case, what would be the best wallet to use to maintain anonymity? Should i get Tor browser & open a bitcoin core wallet?
Run your own node so you don't need to rely on third party nodes who could potentially group your data. 
If you really don't want to link the money to banks, there are only two ways you can choose, first is direct P2P where you need to met the person in real life
Op aims to be anonymous to the point that he is untraceable so I doubt that he would want someone to know his name, his face and location where the transaction took place.Quote
and the second one is Cash By Mail where you will receive the money by mail, just like the name.
Again, for someone who is aiming for complete anonymity this might be far from that person would want. They wouldn’t want to give out their address and any personnel to have access to it.Quote
Obviously there are few risks from this method, either being a target of $5 wrench attack, you received fake cash, the mail disappeared etc.
There’s also some risk of physical harm in an attempt to rob or just steal from you. Maybe that is why op is looking for ways to be completely anonymous but op let me say to you that in cryptocurrency you are never totally anonymous as there can be traces. The best you can do is to conceal your identity and try to lead the traces in different directions. 
If you really don't want to link the money to banks, there are only two ways you can choose, first is direct P2P where you need to met the person in real life and the second one is Cash By Mail where you will receive the money by mail, just like the name.
Obviously there are few risks from this method, either being a target of $5 wrench attack, you received fake cash, the mail disappeared etc.
Obviously there are few risks from this method, either being a target of $5 wrench attack, you received fake cash, the mail disappeared etc.
You guys have any experience in dealing with bisq?
Bisq is a highly recommended decentralized exchange. So bisq is not a wallet itself? Just a platform to do peer2peer transaction?
Bisq is not a wallet, they never actually hold your coins during the exchange. As you said they serve as an intermediary for both parties involved in the exchange.if thats the case, what would be the best wallet to use to maintain anonymity? Should i get Tor browser & open a bitcoin core wallet?
Electrum is a great SPV wallet to use. You don't have to download the entire blockchain but you have full self custody. Bitcoin core is good to use if you have the requirements to download approximately 600gb of blockchain data and a decent RAM.Note that wallets give you pseudo-anonymity not actual anonymity. These wallets require no personal information so there's no link between your identity and your wallets. If you use Bitcoin core and run a node that will give you more privacy.
hey,
thank you for the reply. You guys have any experience in dealing with bisq? What are your feelings on it? So according to what you say, Zengo is not the best for anonymity? What would be my best bet? So bisq is not a wallet itself? Just a platform to do peer2peer transaction? if thats the case, what would be the best wallet to use to maintain anonymity? Should i get Tor browser & open a bitcoin core wallet?
Thanks,
Dogtown
thank you for the reply. You guys have any experience in dealing with bisq? What are your feelings on it? So according to what you say, Zengo is not the best for anonymity? What would be my best bet? So bisq is not a wallet itself? Just a platform to do peer2peer transaction? if thats the case, what would be the best wallet to use to maintain anonymity? Should i get Tor browser & open a bitcoin core wallet?
Thanks,
Dogtown
Considering anonymity in bitcoin transaction is when you have successfully achieved making a p2p transaction without having to risk loosing your personal informations to the hands of a third party institution or person, from what you have said, using a centralized exchange in the whole process is not going to give you the perfect anonymity you want because they already have your private informations and they are custodial wallets, its more safer to exchange your bitcoin to fiat using a decentralized exchange like bisq, you risk nothing concerning your privacy.
You can use any of the private exchanges from my list or this website in order to create a sell order for your Bitcoin in return for something like Venmo, Cash App, Revolut, PayPal, etc. Even direct bank transfer is supported in some cases like SEPA, but I would advise against direct P2P wire transfers and use one of the aforementioned apps for the P2P exchanging instead.
The wallet you have does not really matter in this case. It could be a blockchain.info web wallet and the procedure would remain largely the same.
The wallet you have does not really matter in this case. It could be a blockchain.info web wallet and the procedure would remain largely the same.
It depends on how "anonymous" you want, what I can say is you're not anonymous if you use Zengo since it's closed source and you didn't run full node. You're using someone else node that connected to your wallet.
Choose better non custodial wallet and open source e.g. electrum, bluewallet etc, but the best is Bitcoin Core for anonymity. Don't forget to use open source OS too i.e. Linux, since Mac and Windows aren't good for privacy. Use Tor, avoid VPN.
If you want to cash out without KYC, the best is using Bisq, or other exchanges like Robosats, PeachBitcoin etc, for other alternative you can check kycnot.me
Choose better non custodial wallet and open source e.g. electrum, bluewallet etc, but the best is Bitcoin Core for anonymity. Don't forget to use open source OS too i.e. Linux, since Mac and Windows aren't good for privacy. Use Tor, avoid VPN.
If you want to cash out without KYC, the best is using Bisq, or other exchanges like Robosats, PeachBitcoin etc, for other alternative you can check kycnot.me
Quote from: https://cryptowallets.gg/review/zengo
Pros & Cons
Before we dive into the full review, lets get into the pros and cons of ZenGo.
Pros
Supports Bitcoin, Ethereum and EVM chains.
Web3 enabled, so you can use DeFi applications, staking tools, NFT marketplaces and more.
Mobile applications for iOS, Android.
Completely free to use/download.
Cons
Does not support the Cosmos ecosystem, the Polkadot ecosystem, Tron, Algorand.
Does not have a standalone desktop application.
Cannot be used as a browser extension. Therefore does not support Chrome, Firefox, Edge, Opera.
Closed source.
Before we dive into the full review, lets get into the pros and cons of ZenGo.
Pros
Supports Bitcoin, Ethereum and EVM chains.
Web3 enabled, so you can use DeFi applications, staking tools, NFT marketplaces and more.
Mobile applications for iOS, Android.
Completely free to use/download.
Cons
Does not support the Cosmos ecosystem, the Polkadot ecosystem, Tron, Algorand.
Does not have a standalone desktop application.
Cannot be used as a browser extension. Therefore does not support Chrome, Firefox, Edge, Opera.
Closed source.
Anonimity is complicated. It's not clear to me what you are trying to accomplish. What are you trying to keep secret and who are you trying to keep it secret from? U.S. exchanges require KYC in order to withdraw USD, so they will know who you are.
Hey All,
New here. So I have a wallet with Zengo. I chose them due to the fact that they are mainly anonymous and don't require you to link your bank account. I have some money in the wallet which I would now like to get out. An options they have for me is to exchange the BTC to a Stablecoin. I guess I would then send the Stablecoin to my coinbase wallet and from there, deposit it into my bank. but does that defeat the purpose of remaining anonymous? Once the stablecoin is acquired an sent to my coinbase account, does that create a trail back to me? so i guess my question is any options to cash out from Zengo while remaining anonymous. Does anyone have any suggestions? and also, does anyone have any other methods of receiving BTC anonymously with the ability to cash it out? Please let me know. Thanks guys! Excited to be new to the community.
New here. So I have a wallet with Zengo. I chose them due to the fact that they are mainly anonymous and don't require you to link your bank account. I have some money in the wallet which I would now like to get out. An options they have for me is to exchange the BTC to a Stablecoin. I guess I would then send the Stablecoin to my coinbase wallet and from there, deposit it into my bank. but does that defeat the purpose of remaining anonymous? Once the stablecoin is acquired an sent to my coinbase account, does that create a trail back to me? so i guess my question is any options to cash out from Zengo while remaining anonymous. Does anyone have any suggestions? and also, does anyone have any other methods of receiving BTC anonymously with the ability to cash it out? Please let me know. Thanks guys! Excited to be new to the community.
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