Post
Topic
Board Altcoin Discussion
Merits 1 from 1 user
Re: ERC20 to Bitcoin without KYC ?
by
hugeblack
on 22/07/2023, 09:40:56 UTC
⭐ Merited by MusaMohamed (1)
Let's say I'm an Ethereum whale with x million assets in Ethereum.

Is there a way to convert my Ethereum or USDT / USDC to Bitcoin without KYC?
Whales trade outside the market, or what is known as the OTC trading market, which starts from 50k per day and reaches millions, but the problem is that these markets are highly organized and it is impossible to do them without identity verification procedures, and trading such amounts daily means that they are subject to taxes and therefore you may be accused of money laundering and tax evasion.

On the other hand, if you are not in a hurry, you can create your own exchange, and exchange between crypto without KYC, or if you do not intend to buy USDT, there is a good chance that you can do it legally and with low taxes if you sell it at a loss for bitcoin and wait for the price of bitcoin to rise in the future.

In short, it is depend on your country, tax, how KYC/AML works, and how many ETH you have.