How to Cash without KYC? - page 2. | Bitcointalksearch.org

jeraldskie11

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Quote from: blue Snow on October 05, 2023, 10:32:16 PM

If KYC, I can exchange it on Binance or my local exchange where all have paired with USDT. But I won't it, because I don't want people to know my identity when withdraw it into my local bank.

If you utilize Binance or another CEX, no one will see your identity except the person who's assigned to check the KYC. It will not be spread if the team does not sell their users' identities. But we can't be sure since there were cases already about that.

Aside from that, I'm curious as to why there are so many traders and investors on Binance, as well as whales, who have a lot of funds but aren't afraid to do KYC. I believe it is very important to consider for users with limited cash who are concerned about KYC.

Smartvirus

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Not all exchanges require require a compulsory KYC to operate. What they do most times is a pseudo KYC where you get to register with at least something personal like your mobile number (contact) or/and your email. Just these and you’re in. The trick used here for accounts with no proper KYC is the withdrawal limi and that plays out in the form of coin withdrawal to a wallet and not the typical p2p transactions carried out on the exchange.

Where KYC becomes a necessity is when you want to increase your withdrawal limit. There, you have to go through KYC for an upgrade and that is optional.
I know of Remitano to do that but, you must confirm if it’s functional in your jurisdiction before giving it a trier.

Lakai01

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Quote from: OmegaStarScream on October 06, 2023, 02:35:02 AM

Bitcoin ATMs are a good option if you have no other way, but it really depends on the amount (since some of them have very low limits) and the fees are also not that great.

I don't know where OP is from but the Bitcoin ATMs in my area now all require KYC, even for amounts under 100€. So it is practically impossible to withdraw (larger) amounts via such ATMs.

Besides person-to-person (P2P) sales, you could otherwise try selling the coins here on the forum for FIAT, with an escrow interposed of course. But at least one of the participants will know your bank details - unless you can meet in person.

But be careful: Depending on the amount, the bank may want to have a receipt where the money comes from. If you cannot prove this, you will not be able to deposit the money, and in the worst case (e.g. if the bank suspects money laundering) this can also lead to a block on your account.

so98nn

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If you want to do it anyways without exposing your identity then simply go for purchasing the Bitcoin exchangeable gift cards. For example, you can buy an Amazon gift card or any other shopping site that you are comfortable with. Then simply buy gold chains bars or coins from these sites that provide certified gold. You can then sell it locally to the goldsmith. I think this will add extra layer of security. No one will ever know you had Bitcoin with you. However there are challenges in this, first, the country where you live should have online gold selling if yes then everything is going to be easy. Secondly if not then you will need to choose another option like buying stuff that you need or would buy after getting the cash from amazon only. If not then there is pretty much nothing you can do about it. Otherwise that would be pretty much money laundering if you are trying more other ways.

slaman29

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I mentioned this over the past few days that the only way is p2p outside the CEXs. Short version: do p2p with good traders on non cex p2p. Build a contact, trust, then trade directly.

You only have to bear risk of sending first but if trader reputation is big, they risk more if they don't send you back.

Husires

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If all of the above options do not work, there is a long option, but it guarantees complete anonymity for you, which is running a store that provides needs that do not exist in your country, such as buying things with Bitcoin and shipping them to your country, selling digital products, or selling gift cards or Google Play cards that you buy with Bitcoin. It is the longer way, but it It generates a database for you through which you can find people who may want to buy Bitcoin directly.
The easiest options are P2P. Ask someone here who has an account in Binance P2P to do the process for you (I do not know if this is compatible with the terms of use. If it is not, I do not recommend it to you).

sokani

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I think you should post this in your local board so that members in your locality can guide you on how to trade your USDT or any other asset to fiat without undergoing KYC.

However, how about using Binance P2P? If users from your country is allowed to trade on Binance exchange, then you should go for it. Performing tier 1 KYC on Binance does not take much of your personal information, it only requires you to verify your phone number, email address and will be able trade your cryptocurrencies through P2P with users from your country.

Strongkored

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Quote from: blue Snow on October 05, 2023, 10:32:16 PM

So, I have USDT. But I don't want to register for centralization exchange where I must KYC to exchange USDT into my local Fiat. What can I do? how to exchange it?

As far as I know there are exchanges in Indonesia that do not require KYC, yes this is like P2P trading but you can do it via the website and can contact the owner via telegram or also whatsapp, several times I transacted there and the exchange only requires email verification and I think that shouldn't be it problem for you, and so far this exchange is quite reliable for me at least also for quite a lot of crypto lovers in Indonesia, and you can exchange your USDT not only to fiat and transfer to your bank account but also many other options. But this is not to promote the exchange so you should do so with caution. Link

OmegaStarScream

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Quote from: mk4 on October 06, 2023, 12:05:02 AM

2. Bisq/HodlHodl/LocalCryptos
-snip-

LocalCryptos has closed its doors some time ago[1][2]. AgoraDesk is also another non-KYC alternative.

Bitcoin ATMs are a good option if you have no other way, but it really depends on the amount (since some of them have very low limits) and the fees are also not that great.

[1] https://localcryptos.com/
[2] https://beincrypto.com/localcryptos-p2p-exchange-is-closing-its-doors/

Charles-Tim

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Quote from: blue Snow on October 05, 2023, 10:32:16 PM

So, I have USDT. But I don't want to register for centralization exchange where I must KYC to exchange USDT into my local Fiat. What can I do? how to exchange it?

Use hodlhodl is what I think is the best among the options that remain.

Quote from: mk4 on October 06, 2023, 12:05:02 AM

2. Bisq/HodlHodl/LocalCryptos

Maybe because we are no longer referring to localcryptos, you have forgotten that it is no more existing.

Quote from: Zaguru12 on October 06, 2023, 12:15:23 AM

Yes you can exchange your usdt to fiat using decentralized exchanges like bisq where KYC is not needed

Bisq does not have USDT pair.

edmundduke

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Quote from: blue Snow on October 05, 2023, 10:32:16 PM

So, I have USDT. But I don't want to register for centralization exchange where I must KYC to exchange USDT into my local Fiat. What can I do? how to exchange it?

If KYC, I can exchange it on Binance or my local exchange where all have paired with USDT. But I won't it, because I don't want people to know my identity when withdraw it into my local bank.

I also seeing many people selling bank accounts on my local online shop, but of course, it's illegal, the seller might be taking it back to the account after I deposited the money.

this is very confusing me, I can exchange BTC to USDT without KYC and register using eXch exchange, but still confused to cash (USDT) into my local fiat and spending it.

Very unlikely that you can get it to work without KYC. As others mentioned if you really do not want to KYC the options are limited to:
1) You can try set up a cash trade in person with someone - this can be risky.
2) Some Crypto credit card companies let you buy a prepaid card/loadable card that can be used to withdraw from an ATM

Other than that, not really possible anymore. Good old days are gone unfortunately

Zaguru12

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Quote from: blue Snow on October 05, 2023, 10:32:16 PM

So, I have USDT. But I don't want to register for centralization exchange where I must KYC to exchange USDT into my local Fiat. What can I do? how to exchange it?

If KYC, I can exchange it on Binance or my local exchange where all have paired with USDT. But I won't it, because I don't want people to know my identity when withdraw it into my local bank.

Yes you can exchange your usdt to fiat using decentralized exchanges like bisq where KYC is not needed, they are decentralized and also opened sourced. They use a multi sig method of holding your coins till the buyer pays to your account and then you give the confirmation and they release it. They support many countries currency, you can try it out.

The other way is to use this forum and look for your local board there are some reputable members that can sell or buy from you. Or if you don’t trust them you can ask someone reputable to be your escrow.

Quote from: albert0bsd on October 05, 2023, 11:22:40 PM

Since bitcoin is still not mass adopted then KYC is your only choice.

That is a pitty, but my recomendation is not convert btc to cash, my recomendation is actually the other way arount convert fiat to bitcoin and wait a little, search for services that actually acept bitcoin o start your own bussiness acepting bitcoin.

They are other methods like using decentralized exchanges or using local P2P on the forum, in fact buying or selling bitcoin seems easier than any cryptocurrency due to its adoption.

Yes no one will be happy to sell is precious bitcoin but emergencies can arise which cannot take control of and selling will be the last resort. So it happens, the best thing is to accumulate more when opportunities present them selves

adzino

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Quote from: blue Snow on October 05, 2023, 10:32:16 PM

So, I have USDT. But I don't want to register for centralization exchange where I must KYC to exchange USDT into my local Fiat. What can I do? how to exchange it?

If KYC, I can exchange it on Binance or my local exchange where all have paired with USDT. But I won't it, because I don't want people to know my identity when withdraw it into my local bank.

I also seeing many people selling bank accounts on my local online shop, but of course, it's illegal, the seller might be taking it back to the account after I deposited the money.

this is very confusing me, I can exchange BTC to USDT without KYC and register using eXch exchange, but still confused to cash (USDT) into my local fiat and spending it.

Since FIAT is involved, almost all legal exchanges/platforms will require you to perfom KYC if you wish to sell your USDT and withdraw in FIAT. You another option is to do a P2P trade without using a thirdparty (middleman) service. The risk is high. If you will be performing the P2P trade online, one will have to trust the other blindly. If you do P2P trade facetoface, then there is a chance of you getting yourself in serious danger. But I think there are still some platform where you can do p2p trades without KYC.
And others that are suggesting using Bitcoin ATM, I doubt there are any ATMs that don't ask for KYC. It used to be KYC free before. But right now, they will make you register at least your phone number before you can buy or sell any coins.

mk4

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1. Bitcoin ATMs that don't request AML/KYC

2. Bisq/HodlHodl/~~LocalCryptos~~

3. Some local Facebook group. Just make sure to do the transaction in a well secured place like a mall

albert0bsd

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Since bitcoin is still not mass adopted then KYC is your only choice.

That is a pitty, but my recomendation is not convert btc to cash, my recomendation is actually the other way arount convert fiat to bitcoin and wait a little, search for services that actually acept bitcoin o start your own bussiness acepting bitcoin.

adaseb

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Since you want to sell your crypto and withdraw fiat you got pretty much no choice but to KYC.

If you don’t have lots to sell then you can either find a Bitcoin ATM somewhere in your area but expect to lose about 10% in fees alone.

Another option is P2P somewhere local. However this can be dangerous so make sure you use caution. Don’t go to any sketchy places at night. And only do business if they have feedback.

blue Snow

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So, I have USDT. But I don't want to register for centralization exchange where I must KYC to exchange USDT into my local Fiat. What can I do? how to exchange it?

If KYC, I can exchange it on Binance or my local exchange where all have paired with USDT. But I won't it, because I don't want people to know my identity when withdraw it into my local bank.

I also seeing many people selling bank accounts on my local online shop, but of course, it's illegal, the seller might be taking it back to the account after I deposited the money.

this is very confusing me, I can exchange BTC to USDT without KYC and register using eXch exchange, but still confused to cash (USDT) into my local fiat and spending it.

Topic: How to Cash without KYC? - page 2. (Read 296 times)