Question strange request from a client: to buy USDT

[AdH]

Dear everybody,

I have received today a request from a new client, asking me if we know where to buy USDT for big amounts.

I understand near nothing about Crypto World, but I never hear about to buy USDT.

Can anybody to advice me or let me know further information?

Kind regards in advance

AdH

 

[Aetherial]

I personally use Kraken for this, never had any issues with them. Not even so much as a routine check

 

[Wysywyg]

I am not sure what your line of work is, but I am wondering if your AML/KYC checks might pick up their reasons for this as part of building a picture of their profile. If you are facilitating this for your client, it might be worth asking them to sign an AML form about the origin of funds. That should go some way towards addressing your concerns.

People buy USDT due to them being pegged to the USD . It's probably 30-40% of the volume I see coming through where I work at the moment.

 

[VisionSk]

This is a very usual request in this day and age. There are a number of service providers who facilitate private, licensed, KYC / aml compliant on-ramping and off-ramping services.

 

[Wysywyg]

It's about perspective. It might be usual to you, but it isn't to this person, so they should work out what works best for them. Do they ask for extra information and risk losing the client, or do they go along with the request, based on what they know about the client?

 

[cionide]

This is a very usual request in this day and age. There are a number of service providers who facilitate private, licensed, KYC / aml compliant on-ramping and off-ramping services.

I wish more businesses would use USDT and USDC. The transfers are cheap and nearly instant. I got a transfer from Bulgaria to RelayFi and it's been 2 weeks so far. After 12 days they got the wire and decided they want SOF/Documentation . I submitted it Sunday and am still waiting.

 

[vehzag]

Dear everybody,

I have received today a request from a new client, asking me if we know where to buy USDT for big amounts.

I understand near nothing about Crypto World, but I never hear about to buy USDT.

Can anybody to advice me or let me know further information?

Kind regards in advance

AdH

This is very common
I assume the want no kyc and have a lot of cash
This is something happens every minute everywhere

 

[Armani]

This is very common
I assume the want no kyc and have a lot of cash
This is something happens every minute everywhere

Do you know what is the average current fee for no kyc services?

 

[vehzag]

Do you know what is the average current fee for no kyc services?

Depends on country/city
And amount
And depends on which side are you playing at exact moment cash>crypto or crypto>cash, depends on what side is the lack of supply
Usually between -2 - +3%

 

[ICO Services]

On average the fee is 3% for non KYC platforms

 

[OffshoreGenius]

Dear everybody,

I have received today a request from a new client, asking me if we know where to buy USDT for big amounts.

I understand near nothing about Crypto World, but I never hear about to buy USDT.

Can anybody to advice me or let me know further information?

Kind regards in advance

AdH

It all depends on whether your client needs to conduct everything through AML/KYC or if your client needs to conduct everything without AML/KYC.

Nowadays, these types of transactions are normal.
It's an asset pegged to the dollar, and in the crypto space, it provides stability within the volatility that other cryptocurrencies typically experience.

I recommend both options;

If your customer wants to preserve their anonymity and privacy, they should make the purchase through an OTC p2p or b2b system. This can be done through platforms or in person.
(Maintaining privacy could also cost a 1%-5% service fee.)

If you want to do everything transparently, you can go to CEX with a business profile, but transparent transactions of this magnitude involve fees that can raise the price per unit.


It all depends on your client's payment method and your business model.