Your Crypto Privacy is Gone? Shocking Truth About Digital Wallets & Gateways Exposed!

Cryptocurrencies and digital money have always been associated with anonymity and privacy, mainly because of the blockchain technology and the terms associated with digital wallets and gateways. If there was one thing that could go wrong, that was the possibility for these gateways to change their terms.

Threatened with the possibility to face fines and even closure, many gateways have had to adopt the latest KYC regulations, as well as AML laws.

Times have changed and not necessarily in the best possible way. The necessity to adapt to these requirements is given by the location. Since many gateways are located in countries that embrace such laws, they’re inevitably forced to do the same.

Coinbase used to have a non-KYC gateway, which is no longer available. To sign up, you’ll need to provide documents regarding your identity.

Names like Cryptomus, CoinPayments and Coingate are taking the same route lately. They used to be solid alternatives, but anonymity is no longer an option.

There are, however, some alternatives out there, but at the end of the day, they come with a compromise. Some of them will charge too much on fees. Others are based in countries with no financial stability whatsoever, so there’s always a risk with your funds.

Different gateways charge differently and their rules vary. Things are constantly upgrading and if cryptocurrencies used to be the optimal way to make anonymous payments, this is no longer the case.

People have to adapt and like always before, different solutions will pop up at some point. But at the moment, the change is going downhill, so digital money will no longer give you anonymity everyone craves for in the financial industry.

There are no doubts about it, solutions and alternatives will start showing up as soon as the change is over and cryptocurrencies and gateways settle down.

 

[bubbledouble]

I didn't realize that Coinbase suddenly asked for KYC for their payment gateway services!

 

[fardreamed]

OH No!
Well anyway....

 

[EliasIT]

You could have mentioned CryptoCloud (no kyc) as a possible solution and the one you are using on OCT

 

[Belfort]

P2P is still available in many places and you can remain anonymous.

 

[0xDEADBEEF]

P2P is still available in many places and you can remain anonymous.

P2P can be beneficial, but it's essential to use cryptocurrencies designed with anonymity and privacy at their core.

Almost all cryptocurrencies are pseudonymous, meaning they're transparent but not directly linked to your identity. However, they can become linked when transaction patterns emerge, or if you interact with exchanges that require identity verification.

Being able to host the payment gateway yourself is imo the biggest benefit of accepting crypto payments. So my hope is that one day solutions like BitPay, Shkeeper, and Bitcart will be documented and supported as comprehensively as e.g. Stripe. This would make it simpler for site owners to adopt these platforms.

 

[EliasIT]

BitPay, Shkeeper,

are they annymous i.e. no kyc ?

 

[0xDEADBEEF]

are they annymous i.e. no kyc ?

No KYC, but you would have to deploy and maintain it yourself.

BTCPay Server (github)
SHKeeper - cryptocurrency gateway payment processor for business, e-commerce (github)
Bitcart (github)

You could also check out the flow at Digital Goods – ProxyStore, they have been using BTCPay for quite some time now.

 

[wellington]

Surely this is all about commercial choices - there are numerous payment gateways that don’t require you loose custody or even carry out KYC/AML after all like in the traditional world you don’t have to do these things for someone buying a tv, fridge etc as much as the Goverments would like you to.

Just use a payment verifier service and the end deposit the funds inc conversion daily/weekly/monthly into a CEX or rather a OTC (commercially you’d do best with a OTC - better rates and personal touch).

I think what is being pushed here is basically what they’d like to see involved with every transaction Inc a purchase of a mars bar - but the law doesn’t require it and no law could pass where the idea that every day transactions be carried out with KYC/AML that’s why they snuck it in as part of the process behind the scenes by pushing digital and against cash.

I know with the entity we have it’s not required - but they don’t off board into fiat just takes a fee and confirms the transaction as settled.

 

[clemens]

I know with the entity we have it’s not required - but they don’t off board into fiat just takes a fee and confirms the transaction as settled.

What entity is that ?

 

[Overhung7319]

You can find privacy friendly services with these two sites;
https://kycnot.me/https://monerica.com/

 

[JohnLocke]

You can find privacy friendly services with these two sites;
https://kycnot.me/https://monerica.com/

Did you just came here to SPAM the forum ?

Please explain what this is about?

 

[belarus]

You can find privacy friendly services with these two sites;
https://kycnot.me/https://monerica.com/

what is this?

 

[NativeLogos]

what is this?

KYCNotMe has been around for ages and it's a really helpful tool to find exchanges, etc that let you trade crypto without KYC. Bisq is a popular P2P software option that's one of the top choices on there, and TradeOgre is a KYC-free exchange for as long as I can remember. Fiat on/off ramping possible via Bisq due to the P2P nature of the transactions

 

[JohnLocke]

When you exchange your crypto for FIAT through these exchanges, how does it then get into your bank account? Or do you receive it in cash?

 

[Burak]

When you exchange your crypto for FIAT through these exchanges, how does it then get into your bank account? Or do you receive it in cash?

None of these exchanges or services allow you to cashout in FIAT but I believe some of them offer cashout solutions; P2P, Amazon payment, gift cards, prepaid cards etc.
I don't think it's spam btw, those are popular directory websites.

 

[JohnLocke]

Now I understand the concept better. I have never used such a service, hence my ignorance.

But if the amount, for example, is 20,000 euros, how do you get it out via a P2P service?

 

[Burak]

Now I understand the concept better. I have never used such a service, hence my ignorance.

But if the amount, for example, is 20,000 euros, how do you get it out via a P2P service?

I think P2P exchange is not good for big amounts. But for example in my case, I make X amount of money in crypto every month. To spend some of money, I buy Amazon gift card, and local gift cards with crypto. Also I bought a prepaid card several months ago, it was possible to use that card for funding Revolut account (not sure if it still works). It's not good to cashout all at once, but a few K is enough to cover my living cost.

 

[JohnLocke]

Thank you, I see for small amounts a good solution but for bigger amounts there is a need of alternatives.

 

[Overhung7319]

Did you just came here to SPAM the forum ?

View attachment 6614

Please explain what this is about?

I came here to help people about Monero I dont know if it counts as spam. As the others said these websites list non-KYC gateways.