Not in the US so canβt verify for myself. But trying to understand.
βThey still donβt actually sell you bitcoinβ
Are you saying I canβt make a Swan account, exchange fiat for Bitcoin take self-custody and have Bitcoin in a wallet?
Discussion
swan is simply a reseller for primetrust. theyβre 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
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.
Donβt patronize these megaliths no matter what front theyβre using.
Got it. Thanks.
hereβs 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 thatβs concerning.
hereβs swanβs marketing friendly explanation -> https://help.swanbitcoin.com/hc/en-us/articles/360050513913-Who-is-Prime-Trust-