Re: BTC/USD trading without Bank Account

Quote from: apoorvlathey on October 10, 2019, 06:50:16 AM

Quote from: Kasabus on October 10, 2019, 06:31:55 AM

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What I don't understand on your statement is on how are you going to enjoy your money if you will not withdraw it to your bank account?

I don't need it in fiat for the time being. So I thought maybe I can just trade and increase my current stack of coins.

Quote from: Coin_trader on October 10, 2019, 06:31:37 AM

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I highly recommend coinbase pro: https://pro.coinbase.com/markets
They have a license to operate and their headquarters is in San Francisco California so quite safe to trade fiat to BTC. I believe bitfinex offer BTC/USD trading too but keep away on that exchange since they have a lawsuit against them.

You can check your state on the below link if coinbase has a licensed to operate in your place.
See here: https://www.coinbase.com/legal/licenses

Thanks for this information, but I am not a US citizen so don't think I can use it...

Quote from: crwth on October 10, 2019, 06:36:59 AM

Pretty much all exchanges won't require you to have a USD Bank account, and it's just that you will withdraw your profits in BTC instead of USD. I doubt you'll find an exchange that could give USD without a bank account, that's just not right. Check https://coinmarketcap.com/rankings/exchanges/ for the rankings with adjusted volume. Choose any of the ones there and probably use BTC as a deposit and withdrawal.

FYI, you already answered your question. Just use crypto and you don't need a bank account. What's the point?

Quote from: apoorvlathey on October 10, 2019, 06:22:56 AM

I would be just withdrawing the funds in crypto as the time comes.

Let me clarify my question, I want to trade my coins for USD and vice-versa but I don't plan to withdraw my USD to bank.
For example, say the price of bitcoin reaches $10k so I would sell some and keep the USD in the exchange, and say when the dip happens and the price goes to $8k I plan to buy back the coins using USD stored on exchange and withdraw them back to my wallet.

If you dont want to use coinbase then why not use any other stable coin to trade your bitcoin.
You can do this also vice versa exchange without the need to link your bank account. Also there are already many exchange option if you will use stable coins its not recommended but you can try.