I get that buying non-kyc p2p is the best. However...
1. I've tried robosats. It did not have orders for the currency/country I want to buy in/from. Binance remains the only way to stack. (I haven't tried bisq, peach etc yet but they might have the same problem).
2. Many people (including me) have no idea about the pitfalls of kyc when they start stacking. kyc exchange to cold wallet address is very easy for a government agency to track but if something breaks that link it creates a layer of obscurity. Taxable events happen only while spending and if years down the line one decides to spend the stack on something, my understanding is that it will not be straightforward for the tax authorities to detect it if the link between on-chain address and identity is obscured.
I would be interested to know what is the best way to deal with a kyc-stack
/ saksham
npub172…tcfr0
2023-07-17 20:33:01
in reply to nevent1q…c8vr
Author Public Key
npub172ppwu2h2cnyqlsycgadm4ytttfnlhmjqnnszjysdjpuul48tnwqutcfr0Published at
2023-07-17 20:33:01Event JSON
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"content": "I get that buying non-kyc p2p is the best. However...\n\n1. I've tried robosats. It did not have orders for the currency/country I want to buy in/from. Binance remains the only way to stack. (I haven't tried bisq, peach etc yet but they might have the same problem).\n\n2. Many people (including me) have no idea about the pitfalls of kyc when they start stacking. kyc exchange to cold wallet address is very easy for a government agency to track but if something breaks that link it creates a layer of obscurity. Taxable events happen only while spending and if years down the line one decides to spend the stack on something, my understanding is that it will not be straightforward for the tax authorities to detect it if the link between on-chain address and identity is obscured.\n\nI would be interested to know what is the best way to deal with a kyc-stack",
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