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Showing 3 of 3 results by WhoDaresWins88
Risk assesment / KYC document for Business Selling and buying bitcoin.
Hello!
Like in most countries today, when operating a business where you sell and buy bitcoin you have to have some form of license.
In my country (Sweden) its required to register as a financial institution. When regestring its required to make a risk assesment of your business and based on this risk assesment you have to have policies in place to prevent money laundering and terrorst financing.
If this risk assesment and the policies dont meet "the standards" your registration will be rejected and you will loose the money you paid to register your company as a financial institution (around 5000 dollars).
The problem is that most lawyer firms if not all in my country that deals with helping companys doing risk assesments etc have little or no knowledge when it comes to applying this to a crypto related business. Does anyone know about any company or firm that help crypto businesses with this ?
Thank you for your time!
Like in most countries today, when operating a business where you sell and buy bitcoin you have to have some form of license.
In my country (Sweden) its required to register as a financial institution. When regestring its required to make a risk assesment of your business and based on this risk assesment you have to have policies in place to prevent money laundering and terrorst financing.
If this risk assesment and the policies dont meet "the standards" your registration will be rejected and you will loose the money you paid to register your company as a financial institution (around 5000 dollars).
The problem is that most lawyer firms if not all in my country that deals with helping companys doing risk assesments etc have little or no knowledge when it comes to applying this to a crypto related business. Does anyone know about any company or firm that help crypto businesses with this ?
Thank you for your time!
Im a daytrader and im sending a lot of bitcoin around on a daily basis from coinbase pro.
As you can imagine in the world of trading any assets, time is money and speed is key.
Im always sending to and from segwit wallets but the transaction time is still way to slow sometimes.
Most of my transactions are sent from coinbase pro to another segwit wallet , and as far as i know coinbase pro does not let you set the fee manually so i cant speed up the transaction this way unfortunately.
I was wondering if anybody know any tips and tricks on how to speed up transactions from coinbase pro? Ive read about "transaction accelerators" but ive never tried it, anybody with good experience from using a service like this? Or any other method for speeding up transactions from coinbase pro or other wallets where you can not set the fee manually?
As you can imagine in the world of trading any assets, time is money and speed is key.
Im always sending to and from segwit wallets but the transaction time is still way to slow sometimes.
Most of my transactions are sent from coinbase pro to another segwit wallet , and as far as i know coinbase pro does not let you set the fee manually so i cant speed up the transaction this way unfortunately.
I was wondering if anybody know any tips and tricks on how to speed up transactions from coinbase pro? Ive read about "transaction accelerators" but ive never tried it, anybody with good experience from using a service like this? Or any other method for speeding up transactions from coinbase pro or other wallets where you can not set the fee manually?
Tips and tricks? Not really. The paid accelerators are pretty expensive. And since Coinbase batches transactions -- they include lots of different customer withdrawals in each transaction -- it would be very expensive to use a paid service due to the size. You can try free accelerators like ViaBTC, but they may not accept such large transactions, and they may not speed things up any more than if you did nothing.
We should probably be glad that Coinbase handles withdrawals this way. They used to not batch transactions, and they also used to overestimate fees a lot, which drove up fees across the network.
Thanks for the answers and your time!
Just to clarify, when you say expensive, what are we talking here? 5-15 dollars per transaction would not be a problem for me since the volume i move around is pretty big, any good paid transaction accelerator out there? I seem to only be able to find the free ones.
Hello!
Im a daytrader and im sending a lot of bitcoin around on a daily basis from coinbase pro.
As you can imagine in the world of trading any assets, time is money and speed is key.
Im always sending to and from segwit wallets but the transaction time is still way to slow sometimes.
Most of my transactions are sent from coinbase pro to another segwit wallet , and as far as i know coinbase pro does not let you set the fee manually so i cant speed up the transaction this way unfortunately.
I was wondering if anybody know any tips and tricks on how to speed up transactions from coinbase pro? Ive read about "transaction accelerators" but ive never tried it, anybody with good experience from using a service like this? Or any other method for speeding up transactions from coinbase pro or other wallets where you can not set the fee manually?
Would you be able to mine your own bitcoin transactions to speed them up if you have your own mining equipment, like for say a antminer S9? Or is there any service provided by mining pools for this purpose?
Thank you for your time!
Im a daytrader and im sending a lot of bitcoin around on a daily basis from coinbase pro.
As you can imagine in the world of trading any assets, time is money and speed is key.
Im always sending to and from segwit wallets but the transaction time is still way to slow sometimes.
Most of my transactions are sent from coinbase pro to another segwit wallet , and as far as i know coinbase pro does not let you set the fee manually so i cant speed up the transaction this way unfortunately.
I was wondering if anybody know any tips and tricks on how to speed up transactions from coinbase pro? Ive read about "transaction accelerators" but ive never tried it, anybody with good experience from using a service like this? Or any other method for speeding up transactions from coinbase pro or other wallets where you can not set the fee manually?
Would you be able to mine your own bitcoin transactions to speed them up if you have your own mining equipment, like for say a antminer S9? Or is there any service provided by mining pools for this purpose?
Thank you for your time!