Fiat-to-crypto: is it safe?

[3x2]

In what terms you are asking this?? Are you asking from point of Investment?? If yes then the best option is real estate investment. BTW, converting Fiat to Crypto via banks can keep you on Government radar which in-turn can be hurting to you if they want to hurt your reputation.

[1714273174]

1714273174

[1714273174]

1714273174

[1714273174]

1714273174

[1714273174]

1714273174

[1714273174]

1714273174

[1714273174]

1714273174

[Ridwan Fauzi]

I don't have any idea to make a judgment that the reputable exchange such you mentioned (binance) will sell your privacy. Because they will bet their reputation to do it and I guess they will keep your identity secretly to convince most investor create an account to use their service.

But if you doubt to do so, you can find decentralized exchange which is not ask your identity but you have to pass some proccess to do it. Besically, it is depend on you, when you have intention to invest or make money through internet most of way is they will ask your identity first if their service use centralized system.

[danherbias07]

Please don't.
Private information leakage will be your problem afterwards.
Or the bank could just close your account for buying something that is out of their jurisdiction. Something like that.
That had been talked here but I cannot just find the thread for they are all buried by now deep within.

But I am telling you now, please do not even try it.

[AicecreaME]

BTW, converting Fiat to Crypto via banks can keep you on Government radar which in-turn can be hurting to you if they want to hurt your reputation.

Not gonna happen unless you outsmart them. There are online wallets where you could cash in your fiat and use it on buying crpytocurrencies. Banks don't like transactions that is new to them, like what you have said when buying bitcoins via banks or credits cards. A lot of questions are gonna fire at you and if you don't give them the answers they wanted to hear, the worst case scenario is they will close your bank accounts and you could also lose your funds.

The last part could be a whole another story, they will accuse you that you are doing illegal things which is annoying on your part because you know you didn't do anything wrong, bank is place full of dumb ass people.

[pieppiep]

Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?

That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?

We don't know are they going to sell your private info or not. But the truth is if they are selling the members private info then that is a bad thing that they do and I am sure that their members will leave and report them to the police or something like that. I use binance as a verified member, and I don't see any problem with my account, and I don't want to get the bad things. I think that it is safe for the members if they do KYC, but we need to be careful. Binance allows their members to skip the verification and I think that is fair enough for the members. But I don't want to use credit or debit card to buy bitcoin because I hear much bad news about the stolen credit card on the internet.

[South Park]

Please don't.
Private information leakage will be your problem afterwards.
Or the bank could just close your account for buying something that is out of their jurisdiction. Something like that.
That had been talked here but I cannot just find the thread for they are all buried by now deep within.

But I am telling you now, please do not even try it.

The risk of your bank closing your bank account is real and not many seem to want to talk about, banks really believe that whatever money you have with them really belongs to them and if you try to deposit or withdraw from an exchange they are sure to flag your account as suspicious even if you had an account with them for decades, so before doing anything it is better to ask if you are allowed to do that, and even if you do that, there is a possibility your account will be closed before you have a chance to use any exchange.

[glendall]

if you are very careful about your personal data it is very good, and I understand that because I also protect my personal data,
if you are trying to register at binance it's good and safe,
but it's safer if you buy bitcoin at your local exchangers, or special applications that buy BTC with p2p safely and quickly without KYC, you can look for it, because there are so many.