Hi,
I have an issue. Basically I have some money on my company's stocks. I want to buy bitcoins with these but the issue is the 2 exchanges I asked (coinsquare and kraken) told me the bank account doing the wire has to match my name. They don't accept brokerage accounts, etc. I don't understand why they care who wires the money as long as it's money.
If I wire this to my bank account first and then to the exchange, it will trigger all kinds of warnings to the government.
Is there a way to have my stocks money wired to an exchange where I can buy bitcoins?
It's been frustrating.
Thanks in advance.
They care because they have to care, otherwise they can close the business. They are forced to implement the KYC and AML things and this is why they ask to wire money only from an account that matches the name you give them at the registration. I have an issue. Basically I have some money on my company's stocks. I want to buy bitcoins with these but the issue is the 2 exchanges I asked (coinsquare and kraken) told me the bank account doing the wire has to match my name. They don't accept brokerage accounts, etc. I don't understand why they care who wires the money as long as it's money.
If I wire this to my bank account first and then to the exchange, it will trigger all kinds of warnings to the government.
Is there a way to have my stocks money wired to an exchange where I can buy bitcoins?
It's been frustrating.
Thanks in advance.
You want to double your money (or more), this is why you want to sell your stocks and jump into bitcoin, right? So you're pretty confident that bitcoin price will go up and it will meet your expectations in the future. If you're so confident, you can try to ask for a loan at your bank, using the stocks as a collateral? In this case you will have money on your account you can wire and at the end, when you have to pay back the loan, you can do it either from the incomes generated by the bitcoin price raise or the bank will sell your collateral and pay back the loan form that money.
Just make sure that you risk the amount you can afford to lose, bitcoin price is very volatile, especially nowdays.
