Non-KYC to KYC BTC Move
Non-KYC to KYC BTC Move
I’m sure this has been asked a million times already, but I guess another time could only help.
I acquired a bunch of BTC via Bisq a few years ago and I also have some KYC exchange accounts.
Now I would like to start exchanging from my non-KYC wallet for fiat. My only concern is that I don’t want to get flagged or have my BTC seized by one of the major exchanges if someone I got my BTC from in the past is shady. I haven’t been keeping up on the latest crypo news so I have no idea how to do this.
The goal is to keep my non-KYC and KYC wallets unassociated. What are my options?
Also, I suppose one option is to just use Bisq again to sell my BTC and have the buyers send me fiat via Zelle or whatever straight to my bank. How does this method compare to any other that is common and safe?
Thanks!
marty
All transfers that would include bank transactions are risky, especially if you suddenly start receiving large amounts of money from people with whom you had no transactions before. If you go in that direction, you have to prepare all the evidence about how you bought all that BTC, and be ready to present it to the bank or CEX that you will use.
I don’t know where you’re from, but in some countries (EU) there are physical crypto exchanges that don’t ask for KYC up to a certain amount (for now), but if you have a few BTC that you want to sell, that’s not a practical solution.
If you have a CEX in your country, you could contact them and try to arrange sales directly through OTC.