Topic: Getting around KYC - page 2. (Read 721 times)

KYC is the trend which becomes more popular among all the crypto business initiatives. IMHO the aim of all the KYC procedures is the legal stability for companies in this new field of digital business. I don't think it has much to do with data and funds security.

And it shows that there is user concern about the future of Paxful, and other possible closures. I think that if the conditions are as you say, this state of affairs will lead to speculation about the longevity of Paxful and Only time will tell how the platform overcomes this challenge and whether they can regain the trust of their users.

There are those whom had done face to face trade for quite sometime so there is no need to get around KYC at all.  Many trade contact from past just needs to be updated and passed on to an fair and firm OG when you are ready to retire from trading due to age and health.

While some advocate for non F2F E-payment and other screening mechanism citing safety concerns are valid, keep in mind good member of bitcoin community are human too and we live in an age that should go back to simpler time and meet everyone and exchange on cyberspace.  Freedom of association is a right, not a privilege.  Exchanging stories and ideas are what made f2f trade enduring in my opinion.

judging by what I've read thus far one must assume KYC is increasing an issue for new bitcoin users and it can slow but unable to stop ongoing bitcoin adoption.  KYC is very expensive and it is financed by drafting ALL depositor's fund in the current centralized financial system to make it into an reality.

To stop bitcoin an nation state or monetary authority may declare Bitcoin illegal just like making it an into national currency actually this helps its adoption, so this is where KYC and lacks of firm regulatory framework comes in.  Uncertainty in national and regulatory policy makes it easy to make arbitrary decisions against members of the bitcoin community, and it will not change until we are the majority.  KYC buys valuable time to introduce centralized digital payment framework similar to Union Pay, wechat pay, TaoBao, AliPay, WeiShin and countless other centralized platforms. 

See the bolded part. I was talking about a real P2P. But, in the 2nd phase, I wasn't talking about real P2P. I am aware that Uniswap is not a real P2P platform. But, It's still better than Centralized exchanges. I was surprised to see that stats. Uniswap growth is eye-catching. Competing with a well-established Exchange for a free month in a row isn't easy. At the same time, I believe the category of user base is different. People will use coinbase no matter what benefit Uniswap offers and Uniswap users won't use coinbase.

As I've said in many other threads before, I am looking for a real P2P platform where i can find my locals to trade with them. I've checked a bunch of platforms where i was not able to find my locals. Maybe because i am from a tiny country with a very little number of Bitcoiners. I prefer real P2P Platform without KYC requirements. I am still using Centralized exchanges 

If I have to get around KYC, trading with someone here in the forum will also be my first option to take. As long as someone accepts USDT or Paypal, there is a way to get around KYC.  You just have to trade with someone who has been in this business for a long time and has built their reputation through it. P2P platforms still will need you to put in bank information.

This situation was difficult before or some of those years of beginning, but today there are so many ways that it is only a matter of common sense. You can even get one of the first ways here on the forum.

It's probably just a matter of time until they shut down again. If you check their site, you can see the lack of offers, or at least the lack of serious ones (there are some unrealistic offers)

Gift card offers (which is what Paxful is really known for) are almost nowhere to be found either.

I imagine that most people already went somewhere else and Paxful freezing some user's accounts definitely didn't help.

Only localbitcoins is completely shutdown, paxful was announced they would shutdown their service, but it turn paxful is now controlled by new CEO and paxful is fully launched back. The old paxful CEO pointed out in his tweet where he advice people to not deal on paxful anymore.

There are many other good P2P sites, so it's completely pointless why someone need to trade in Paxful.

As you've said before, you're talking about a real P2P trade, Uniswap isn't because Uniswap is using a smart contract, so when you swap your token, you're involved with the exchange smart contract, not P2P with other people.

Paxful has shut down their operation, localbitcoins too, there was a time these exchanges were recommended as good p2p exchanges, but some years ago they changed into KYC exchanges and they were no longer an option for true p2p traders who want their privacy and security, they have both shut down now and cannot be recommended anymore. There are good enough p2p exchanges that have been recommended in this topic, and some of them support F2F trade for traders who want this.

Aren't Paxful also Requiring KYC to start trading? I am not a Paxful user, but as far as I know, You have to do KYC there. I am sorry if I am wrong. Moreover, I heard that Paxful is going to suspend their service. I am not sure if that was for some specific region or maybe they are suspending some particular features. I haven't tried bisq yet, which o_e_l_e_o suggested. I have not found my locals in any of Real P2P Platforms yet, which is frustrating. But Bisq might be a good option for Americans.

This might be an off-topic here. I just found an article on Coindesk that its 4th consecutive month Decentralized Exchange Uniswap Trading Volume Outpaces Coinbase. Isn't it great? Let's see how long they can continue this performance. Of course it depend on users.

You can find out if there are "Bitcoin" meetups in your area and then you build a trust relationship with some of those people and start trading with them. I have bought a lot of coins in that way and I never had any problems.

Yes, it is not the safest way to do that, but you use social skills to protect yourself. Example : Tell the buyer that you are buying small amounts to buy food every day, so they will think that you are not a hoarder. People will not go out of their way to follow you, if you buy a few hundred dollars worth of coins every week.  

The best alternative of localbitcoins.com is paxful. It has similar features and payment methods, and now this is used widely for the P2P deals. I remember localbitcoins had that payment option to pay through cash in order to buy the coins, but personally speaking it’s not at all safe. As who knows what may happen during the meet, and yes you should completely avoid to meet the strangers anywhere physically and especially when there is financial thing involved in it. Go to Paxful and try the alternate ways. I am sure that you will find something useful through which you can buy.

That's right and I was familiar with Binance before my country decided to no longer provide operational licenses for this centralized trading, there are many drawbacks that people should think about when dealing with centralized exchanges, KYC and other security issues standardize why we should avoid centralized exchanges. Even the owner himself has said not to store assets on Binance and the risk will be borne by each, then what other considerations should be made besides avoiding centralized exchanges.

I agree it is more appropriate to use Bisq than binance and standard precautions can be taken using the built-in escrow service, so the level of security is more reliable and also less worrying. Essentially what the OP wants is about security and actually ourselves being able to do that regardless of which exchange to use.

Binance is centralized trash and not really peer to peer at all, as already discussed. Bisq does indeed offer cash trades. Using Bisq is much safer than a centralized exchange provided you take standard precautions and use their in built escrow.

OP it is not recommended to do peer to peer exchanges in person there are many factors you need to be careful of take into consideration that someone will surely be a scammer and could attack to take possession of your Bitcoins.  There are many software that work well and that do not need kyc for example Bisq or robosats or here in Europe Pocket App is also going strong which lets you buy Bitcoins by bank transfer.  While if your intention is to swap for Fiat then Bisq is fine.  I also want to tell you about Peach and how I had my bitcoinbeer.events inserted into the app to be a place of physical exchange between two people but with the security of having a community nearby to guarantee your safety.

If an exchange requires KYC, then it is not a p2p exchange, so what you should say is that exchanges that require KYC aren't p2p exchanges, and there are very legitimate p2p exchanges like Bisq, AgoraDesk and the rest of them you can get here: https://kycnot.me/.
If you go out to trade F2F with someone, you shouldn't tell them how much BTC's you have, it is no business of theirs and has no business in the trade you want to carry out. If going out to trade BTC F2F makes you a target to be robbed or killed, then you are a target everyday, because you go out everyday for various reasons, any harm that can happen in your BTC trade can also happen on every other day. Meet the other peer in a very open area, go well prepared and follow other basic safety methods you use in your everyday life for your everyday dealings, and you'll be fine.

No, they don't. I also posted a similar thread a while ago, trying to find out if there are any alternatives to avoiding the usual way of going through banking services in order to exchange for fiat. Unfortunately, the only options I see as possible are P2P transactions in person, which doesn't sound like a very safe option and, if used, are only advised for small amounts of money, and cryptocurrency ATMs, which usually charge high fees and some of which even require KYC.

Thus, unfortunately, going through exchanges is almost a must, and personally, when the time comes, I will withdraw small portions, and for the rest, I might consider an ATM or a P2P transaction.

It is incomprehensible to you to think that bitcoin direct transactions are really safe. Because such transactions often have many potential risks, including fraud or becoming entangled in criminal activities, So it is better to use debit cards or online platforms. It's easy to convert crypto to fiat at the point of sale, just like a regular purchase. So it's a safer alternative to managing and using your cryptocurrency in daily life.

Engaging in a meeting with someone to sell your Bitcoin for cash carries significant risks. There have been numerous cases of such transactions leading to criminal activities in my country. In these instances, buyers arrange a meeting with the seller, take possession of the Bitcoin, and then disappear without making the payment. These buyers are often well-prepared to blackmail the seller, who is usually alone during the transaction, resulting in the loss of their coins. Considering these dangers, I strongly advise against taking such risks.

Moreover, if you are located in the USA, evading taxes becomes difficult as most peer-to-peer (p2p) exchanges require Know Your Customer (KYC) verification, with only a few exceptions. Although I am not aware of any legitimate p2p exchanges without KYC, you can explore the exchange section on forums to find reputable buyers or sellers. However, for security reasons, it is crucial to utilize an escrow service from the forum, even though it may involve paying a small fee. This added layer of protection can help ensure a secure transaction.

I am using mycelium app but I can't find that marketplace OP said. There is lo link going  to that marketplace either.

But I'm sure he knows its scary also to meet face to face with someone who agrees to see you to sell his BTC. Those guys may see it as an opportunity to rob you. They definitely won't be coming if you are just buying a fraction of BTC so he will assume you got a bag of money if you buy at least more than 1BTC. Its the kind of money they see worth killing.