kyc'ing to buy bitcoin is a bad idea, but if you're gonna do it, buy from an org like river financial who holds their own reserves. every time you buy from swan, strike, etc, you're making the primetrust problem worse
Discussion
to be clear, i'm not a fan of river either, but at least they don't use primetrust
What about the use of Bitwage? Been on their service a few months, and it's great, IMO. Not sure about their behind-the-scenes workings, honestly, but have had a great experience so far.
i've not heard of them until now, but they don't seem to disclose who holds their reserves, meaning it's probably not them. they're probably using a reserves-as-a-service provider like primetrust under the covers.
Looks like they use Gemini to acquire the bitcoin. then there's a spread of 1%.
The most important things is to move it to your own wallet as soon as you buy.
that goes without saying. who you buy from is also exceptionally important.
Just want to drop this one as complementary, maybe can be useful:
Other Non KYC Exchange or LN supported Exchange:
- https://github.com/cointastical/Exchanges-With-LN
- https://cointastical.github.io/KYC-Free-Instant-Exchanges/
Hadn’t considered Prime Trust before or really heard of them, thanks for the PSA. I’ll look into it.