Replying to Avatar HMI 👨🏽

gm - What the most cost-effective exchange for purchasing Bitcoin in the US?

Which iPhone application is recommended for sending and receiving Bitcoin? Is it the same as the exchange application?

What is the most effective method to acquire non-KYC Bitcoin in the US? Is it feasible?
3d
sms 2y ago

In my experience, there’s no cost-effective way to buy non-kyc, because the risks are higher on both sides.

Besides F2F at meetups, for non-kyc, my vote is still with Bisq worldwide

https://bisq.network/

If you want to remain non-kyc, the best apps i’ve tried are not available on iPhone.

Have to go to to Android and Linux - Samourai, Sparrow, Joinmarket, run your own node, et cetera…

https://samouraiwallet.com/

https://www.sparrowwallet.com/

are good places to start.

Plan. Don’t FOMO in. The NPCs and establishment around you have not caught on to Bitcoin’s value yet, after more than a decade.

So, you have time.

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HMI 👨🏽 2y ago

Can I buy bitcoin with Sparrow wallet without my own node? Lastly, appreciate the response!

3d
sms 2y ago

The best, non-kyc wallets, such as Sparrow, are not for trading, because they don’t have exchange affiliation; they are for storing and managing your bitcoins the best and safest way.

Same with the best hardware wallets, if you intend to buy sums you consider significant:

https://unchained.com/blog/best-bitcoin-hardware-wallets/?ref=nobsbitcoin.com

Can use all without your own node, but with less privacy, because public nodes will see your txs, and some are likely run by chain surveillance companies.

Bisq is the best non-kyc buying option I’ve seen for Americans, but still clunky, difficult, and for trades of several hundred dollars and up, because requires having some bitcoin already for security deposit and fees. (Can get at local meetup most cities.)

It’s also the most desentralised, and arguably the only one that really is decentralised.

Exchanges that make it fast, easy and inexpensive, are all centralised and kyc.

With self-custody wallets, such as ones mentioned, plan well how you will store the seed backups, before buying.

3d
sms 2y ago

Given current fees, might try Robosats, once onchain storage is organised:

https://learn.robosats.com/

Main tips:

+ use a Lightning wallet from their list of compatible:

https://learn.robosats.com/docs/wallets/

+ cancel your active orders whenever away from device more than couple hours, such as when sleeping. Won’t cost anything to cancel and renew orders.

Otherwise, can lose security deposit.

RT if useful.