I have $2K USDC in a custodial account that I want to convert to USD without KYC.
My only working method so far has been:
- Buy a prepaid USD card on Bitrefill using USDC (1.5% fee + 30 cents network). $500/day limit for guest users, not a problem.
- Top up my Wise USD with debit card above (1.25% fee)
- Done
It works, but it's 2.75% lost in fees. It's not the worst as some P2P and platforms ask for ridiculous 5%+ fees. Also, I believe it's riskier and more "shady" to sell USDC to a random Joe and have him send me a Wise transfer in USD. What if his money is "tainted"? This would end up flagging my Wise account for nothing!
I know I need to provide my full name for the debit card and it's OK. That USDC is legit and clean.
I don't want KYC platforms because I don't want to upload 1001 documents, risk their "fraud system" flagging my account, and need to wait weeks to solve things, etc. Also, I would have 2 jobs: create and delete the account, as I would not want to keep it.
Does anyone have another good and cheap non-KYC method to convert USDC to USD in Europe?
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
๐ฐ Install these recommended apps:
๐ฒ SocialGood - 100% Crypto Back on Everyday Shopping
๐ฒ xPortal - The DeFi For The Next Billion
๐ฒ CryptoTab Browser - Lightweight, fast, and ready to mine!
๐ฐ Register on these recommended exchanges:
๐ก Binance๐ก Bitfinex๐ก Bitmart๐ก Bittrex๐ก Bitget
๐ก CoinEx๐ก Crypto.com๐ก Gate.io๐ก Huobi๐ก Kucoin.
Comments