0 sats \ 2 replies \ @0b1CoinObi 7 Aug \ on: Are you in Europe looking to buy non KYC Bitcoin? bitcoin
They say that it's not KYC, but your telling Pocket who you are with your bank account details and with that, now your bank knows that you are buying Bitcoin. A lot of banks really don't like that, especially in the UK.
So not really flying under the radar.
The non KYC part either way is quite relevant, non KYC means that Pocket will not hold any photos of you and your passport or ID, nor your home address in their servers, that is already a big plus. Add to that is self custody from the getgo and it is even better.q
To buy and sell Bitcoin you will provide a Bank account, many banks in Europe are Bitcoin friendly (the irony, some things really change), every country with their own, and some internet base like WISE and Revolut are decent options, none is perfect, dealing with banks is never pleasant...
And I agree, buying Bitcoin not p2p with options like Robosats or Bisq or directly from miners (my favorite) is not flying under the radar as you well put it, but most people don't care about that, they trust banks and they want to buy Bitcoin, so this is a good option for them, all Pocket will have is their bank account details, which is miles better than conventional KYC.
Note It is recommended to have a bank account only for buying and selling Bitcoin separated of your more conventional one(s) which you use to pay bills, taxes, your mortgage, loans, etc.
Soon conventional banks will offer Bitcoin ETFs and soon after spot Bitcoin and they will custody it for their customers, those barriers may soon be erased completely either way, unless... Regulation in EU becomes tyrannical and only KYC Bitcoin is allowed and self custody wallets are banned, seems unlikely at this point but after so many years of battles and the well known incompetence of the EU leaders, nothing surprises me any more...
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True, the less KYC the better and for those who have a bank that is pro BTC or in their language crypto, then they'll be okay. They most be 100% sure their bank is on side before they dive in.
Unfortunately the majority of the UK banks won't see it this way and you run the risk of your account being frozen or closed.
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