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Topic: Transfer BTC in stable coins - page 2. (Read 530 times)

hero member
Activity: 2912
Merit: 556
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April 06, 2019, 06:32:53 AM
#27
where do you transfer your balance?
try to use a cold wallet in Android,
and look for a wallet that has an exchange system in it,
like Huobi or coinomi,
so you don't have to bother doing kyc.

I thought of this also, why would he like to transfer on an exchange? He can use a wallet instead. Then he will not need to worry about KYC.

Yeah,  I don't understand the point. Exchanges are not meant to be wallets and they are not secure because of possible hackers attack. So I don't understand why he would transfer coins on exchange. Unless he wants to trade but then again it's strong advice only to have the amount you want to trade.

I think he is confused to explain what he's mean. I think he wants to use stable coins, and we know that there is usdt, tusd, Paxos, Gemini and else. He also mentions about verify which we guess that he cannot verify himself as he is 18 years. So in these situations, he can use the cold wallet for his android phone, or he can use hardware wallet like Ledger Nano or Trezor.

And the first thing that he needs to do is register on Binance, buy the stable coins (he can choose the coin), and then transfer it into the other wallet. But he can also use the stable coin to trade in Binance as in that site, and he doesn't have to verify himself.

He really needs to tell us more details about what he wants so we can suggest to him. Otherwise, we cannot give the proper answer.
legendary
Activity: 2912
Merit: 1068
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April 06, 2019, 06:20:11 AM
#26
where do you transfer your balance?
try to use a cold wallet in Android,
and look for a wallet that has an exchange system in it,
like Huobi or coinomi,
so you don't have to bother doing kyc.

I thought of this also, why would he like to transfer on an exchange? He can use a wallet instead. Then he will not need to worry about KYC.

Yeah,  I don't understand the point. Exchanges are not meant to be wallets and they are not secure because of possible hackers attack. So I don't understand why he would transfer coins on exchange. Unless he wants to trade but then again it's strong advice only to have the amount you want to trade.
hero member
Activity: 952
Merit: 503
April 06, 2019, 05:55:18 AM
#25
I don't really understand what you mean by you are not 18 and will not be able to convert your Bitcoin to stable coin, I don't think it's only on exchanges you can make conversions, you can also make use of platforms like shapeshift or even the blocktrade to swap between coins in minutes, please go make use of any of this platform I have mentioned, you don't even need to have an account with them to carry out a swap which is so cool.
member
Activity: 685
Merit: 14
April 05, 2019, 01:52:04 PM
#24
Age restriction can be bypass, you send your coins at Binance and sell it for USDT, problem solve.
Since you are still young, you can ask for further guidance from your parents, at least they know better the legal aspects in trading or in crypto.
Right no one is bound to use it at anytime we are always welcome at market we can buy whenever we get the money we can invest if we are sure about the potential of our coin, our elders are always there to give us suggestion if they are experienced and they know it will give be beneficial for us, but I think it is not possible for bitcoin to become stable.
If you are a right trader you can exchange our Bitcoin to USD in some point because market was not stable so anytime it will fluctuate in crypto market so better we will protect our investment so majority of traders are move to Bitcoin to stablecoin. I hope will never down in next year so that time all are buy and hold for continuously.
sr. member
Activity: 994
Merit: 256
April 05, 2019, 01:15:03 PM
#23
Age restriction can be bypass, you send your coins at Binance and sell it for USDT, problem solve.
Since you are still young, you can ask for further guidance from your parents, at least they know better the legal aspects in trading or in crypto.
Right no one is bound to use it at anytime we are always welcome at market we can buy whenever we get the money we can invest if we are sure about the potential of our coin, our elders are always there to give us suggestion if they are experienced and they know it will give be beneficial for us, but I think it is not possible for bitcoin to become stable.
hero member
Activity: 2856
Merit: 674
April 04, 2019, 02:17:14 AM
#22
Age restriction can be bypass, you send your coins at Binance and sell it for USDT, problem solve.
Since you are still young, you can ask for further guidance from your parents, at least they know better the legal aspects in trading or in crypto.
full member
Activity: 756
Merit: 112
April 03, 2019, 02:58:16 PM
#21
where do you transfer your balance?
try to use a cold wallet in Android,
and look for a wallet that has an exchange system in it,
like Huobi or coinomi,
so you don't have to bother doing kyc.

I thought of this also, why would he like to transfer on an exchange? He can use a wallet instead. Then he will not need to worry about KYC.
member
Activity: 546
Merit: 32
April 03, 2019, 02:42:08 PM
#20
Hi

I want to transfer my btc in a stable coin.

Does anyone has suggestions?

I know USDT, I tried it but I need to verify myself via the wallet etc. and I am not 18. (or are they maybe different wallets?)

Thanks
don't do everything into a stable currency because Bitcoin is also a good investment now to take huge profits so if you convert your Bitcoin investment to stable currency it will not been giving a huge profit so I think investment and Bitcoin will be the best way.
hero member
Activity: 1358
Merit: 509
April 03, 2019, 01:48:27 PM
#19
Hi

I want to transfer my btc in a stable coin.

Does anyone has suggestions?

I know USDT, I tried it but I need to verify myself via the wallet etc. and I am not 18. (or are they maybe different wallets?)

Thanks
Better keep trading on the big known exchanges and avoid dealing with the small bucket-shopers. Market makers always put big spread difference for trading the Bitcoin to USDT during the pump and shortly after the dump. Don't fall to this trap.
sr. member
Activity: 910
Merit: 260
April 03, 2019, 12:30:17 PM
#18
The best option you can take your money to any good trading sites like Binance or Bitrex first. Then you need to check the pair value with bitcoin and USDC/USDT/PAX/TUSD. These pairs are the best option to convert your bitcoins to stable coins.
All the time, people wish to invest in Tether only since there are no much coins for a long time.
hero member
Activity: 2870
Merit: 574
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April 02, 2019, 10:29:17 PM
#17
I think he's right now is confusing what he should do because we give so many suggestions to him. But I agree with all of the answers. My suggestion is chosen Binance and transfer it into TUSD like mjglqw's suggestion. And then you can save it into Ledger that supports ERC-20 too, so you don't have to worry or don't have a problem.
legendary
Activity: 2156
Merit: 1018
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April 02, 2019, 09:43:20 PM
#16
where do you transfer your balance?
try to use a cold wallet in Android,
and look for a wallet that has an exchange system in it,
like Huobi or coinomi,
so you don't have to bother doing kyc.
legendary
Activity: 1624
Merit: 1130
Bitcoin FTW!
April 02, 2019, 06:12:42 PM
#15
USDC should work just fine if you're unable to use Tether- there's many stablecoins out there, but USDC and Tether both have pairs on Binance and you should be able to trade BTC to USDC without verification on Binance without verification (though do note there is a 2BTC/day withdrawal cap for unverified users). You can also trade BTC to stablecoins without verification through P2P exchanging on a site like Paxful, though you'll likely get suboptimal rates through a P2P trade.
legendary
Activity: 1386
Merit: 1020
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April 02, 2019, 05:27:35 PM
#14
I'd go for mjglqw's suggestion on this one. TUSD is the only option you can go for if you want to avoid the hassle and painstaking process of getting KYC'd. Plus, you get to keep your stablecoins in your own wallet without entrusting the safekeeping into a third-party service which, for me is also sketchy at best. Or better yet, try getting some of your KYC documents ready because sooner or later, you might have to submit your documents if Binance's ToS changed, just as what other exchanges are doing every day.
Binance would really be enough on what's op is seeking but as suggested Kyc thingy should really be prepared out because sooner or later they will surely ask it out.
I'll prefer on converting to TUSD due to less hassle.
full member
Activity: 644
Merit: 113
April 02, 2019, 05:20:31 PM
#13
Hi

I want to transfer my btc in a stable coin.

Does anyone has suggestions?

I know USDT, I tried it but I need to verify myself via the wallet etc. and I am not 18. (or are they maybe different wallets?)

Thanks
You can try this open source multiwallet, it can hold multiple stable coins such as:
1. Gemini Dollar (GUSD) - The world`s first regulated stablecoin. Gemini dollar combines the creditworthiness and price stability of the U.S. dollar with blockchain technology and the oversight of U.S. regulators.
2. Circle's Dollar Coin (USDC) - Using Circle`s platform, individuals and institutions can deposit US dollars from bank accounts and convert them into USDC tokens. The equivalent US dollars then held in reserve by Circle`s banking partners.
3. Paxos Standard (PAX) - Paxos Standard is regulated crypto asset. It is fully collateralized 1:1 by the U.S. dollar, approved and regulated by the NYDFS, and enables instantaneous transactions.

You can have their desktop and androip app here: www.Hodler.tech or have their hardware version here: www.hodker.tech/pro
sr. member
Activity: 910
Merit: 252
April 02, 2019, 01:35:02 PM
#12
There is lots of stable coins usdt , dai , trueusd even more usd equivalent . But investing in potential coins is better I don’t recommend coins . If you want I have already given reply on relating topic. In my country there is lots of exchanges providing facility to convert to local currency equivalent . I hope your country also find one best exchange and keep it in that . Then no need of worry about stable coins.
full member
Activity: 924
Merit: 148
April 02, 2019, 11:09:30 AM
#11
I would recommend you to give your satoshies to your parents, ask them to create an account on some major exchange, maybe pass KYC and then buy some USDT.
The problem is that according to ToS of all exchanges you have to be 18+ in order to perform such financial operations.  Even if you find some exchange that do not require KYC they can easily block your acc if you have any problems. Also sometimes it happens that exchanges implement KYC and freeze all unverified accounts.
Anyway, try to follow the rules.

Instead of giving it to his parents, he can use his parents ID to create an exchange account. I do not think it is illegal thing to do, I have an account which is verified using my wife's ID.
Or just tried to find an exchange without ID verification. Maybe he can try livecoin.net, there are markets for usdc and tusd but the market is so empty Smiley
Ofc everyone is doing like that but the fact that underage person is trading on exchange is violating the exchange rules, even if his acc is verified with someone else's ID, which also seems to be a violation of the other rules. In case if exchange will uncover that you  are using your wife's account they may block your acc.
full member
Activity: 364
Merit: 127
April 02, 2019, 11:00:06 AM
#10
I would recommend you to give your satoshies to your parents, ask them to create an account on some major exchange, maybe pass KYC and then buy some USDT.
The problem is that according to ToS of all exchanges you have to be 18+ in order to perform such financial operations.  Even if you find some exchange that do not require KYC they can easily block your acc if you have any problems. Also sometimes it happens that exchanges implement KYC and freeze all unverified accounts.
Anyway, try to follow the rules.

Instead of giving it to his parents, he can use his parents ID to create an exchange account. I do not think it is illegal thing to do, I have an account which is verified using my wife's ID.
Or just tried to find an exchange without ID verification. Maybe he can try livecoin.net, there are markets for usdc and tusd but the market is so empty Smiley

I think OP doesn't want to tell his/her parent that he/she has money over the internet. Op can easily lend his/her parents identification is he/she really wants to. Anyways go for Binance it's the best solution that we can offer you.
newbie
Activity: 36
Merit: 0
April 02, 2019, 10:55:44 AM
#9
Easy give the bitcoin to your elder sibling to
Catch out since you ain’t 18 yet or you should keep holding it till you clock 18 OR Older right now bitcoin is bubbling..
sr. member
Activity: 840
Merit: 268
April 02, 2019, 10:53:02 AM
#8
Hi

I want to transfer my btc in a stable coin.

Does anyone has suggestions?

I know USDT, I tried it but I need to verify myself via the wallet etc. and I am not 18. (or are they maybe different wallets?)

Thanks
If you are not an 18 year old guy and does not have any government IDs you should ask help for your parents. And verify yourself using your parents information to any exchange you trust, I recommend Binance or bittrex. Try exploring the exchange first and learn how change your btc to USDT.
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