swan is simply a reseller for primetrust. they’re a centralized bitcoin seller which exchanges like swan and strike resell for for. when you withdraw from most primetrust services, you receive your bitcoin from a primetrust wallet and not from the exchange itself
Discussion
So, how could things go awry? I mean if one withdraws/ self custodies from swan (prime trust) ?
I think what OP is getting at here is that if you have the experience and skill to buy P2P #Bitcoin do it.
Don’t patronize these megaliths no matter what front they’re using.
Got it. Thanks.
here’s a great write up from #[7] https://www.discreetlog.com/kyc/
I would pose a question to you that if the overwhelming majority of exchanges use primetrust for their reserves, and primetrust is responsible for their own kyc / aml, what happens when primetrust refuses to serve you? this level of centralization at the exchange layer is inherently bad for bitcoin as well as dangerous
I see it now, that prime trust is getting too big and that’s concerning.