BTC/USD trading without Bank Account

[apoorvlathey]

Being involved in crypto space for quite some time now, I have seen the price going up and down a numerous times.
I plan to try out trading to try my luck.

What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.

Do enlighten me regarding this.

I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).

[Coin_trader]

Being involved in crypto space for quite some time now, I have seen the price going up and down a numerous times.
I plan to try out trading to try my luck.

What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.

Do enlighten me regarding this.

I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).

I highly recommend coinbase pro: https://pro.coinbase.com/markets
They have a license to operate and their headquarters is in San Francisco California so quite safe to trade fiat to BTC. I believe bitfinex offer BTC/USD trading too but keep away on that exchange since they have a lawsuit against them.

You can check your state on the below link if coinbase has a licensed to operate in your place.
See here: https://www.coinbase.com/legal/licenses

[Kasabus]

Bittrex has that trading option and I used that from time to time every time I like to withdraw my btc into USD.
I have a dollar bank account and every time I deposit, it will reflect in less than 24 hours.

What I don't understand on your statement is on how are you going to enjoy your money if you will not withdraw it to your bank account?

[crwth]

Pretty much all exchanges won't require you to have a USD Bank account, and it's just that you will withdraw your profits in BTC instead of USD. I doubt you'll find an exchange that could give USD without a bank account, that's just not right. Check https://coinmarketcap.com/rankings/exchanges/ for the rankings with adjusted volume. Choose any of the ones there and probably use BTC as a deposit and withdrawal.

FYI, you already answered your question. Just use crypto and you don't need a bank account. What's the point?

I would be just withdrawing the funds in crypto as the time comes.

[apoorvlathey]

...
What I don't understand on your statement is on how are you going to enjoy your money if you will not withdraw it to your bank account?

I don't need it in fiat for the time being. So I thought maybe I can just trade and increase my current stack of coins.

...
I highly recommend coinbase pro: https://pro.coinbase.com/markets
They have a license to operate and their headquarters is in San Francisco California so quite safe to trade fiat to BTC. I believe bitfinex offer BTC/USD trading too but keep away on that exchange since they have a lawsuit against them.

You can check your state on the below link if coinbase has a licensed to operate in your place.
See here: https://www.coinbase.com/legal/licenses

Thanks for this information, but I am not a US citizen so don't think I can use it...

Pretty much all exchanges won't require you to have a USD Bank account, and it's just that you will withdraw your profits in BTC instead of USD. I doubt you'll find an exchange that could give USD without a bank account, that's just not right. Check https://coinmarketcap.com/rankings/exchanges/ for the rankings with adjusted volume. Choose any of the ones there and probably use BTC as a deposit and withdrawal.

FYI, you already answered your question. Just use crypto and you don't need a bank account. What's the point?

I would be just withdrawing the funds in crypto as the time comes.

Let me clarify my question, I want to trade my coins for USD and vice-versa but I don't plan to withdraw my USD to bank.
For example, say the price of bitcoin reaches $10k so I would sell some and keep the USD in the exchange, and say when the dip happens and the price goes to $8k I plan to buy back the coins using USD stored on exchange and withdraw them back to my wallet.

[ethereumhunter]

I think you need to read on this article
https://medium.com/faast/how-to-store-usd-on-a-trezor-wallet-or-ledger-nano-s-cdbb2ea6467b

In that article, I see that you can store TUSD but you need to convert from BTC into TUSD so you can store that money. You only need to buy the wallet and start to move your balance to that wallet. Or you can use the BTC wallet that is available on that wallet. That is not USD but TUSD and I think the value is not too different than USD.

[beerlover]

What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.

Have you ever heard about STABLE COINS? For example, the famous stable coin tether? It is a simple replacement of USD. Tether is a crypto and its value will be always 1 USD. I believe now you may understand why you never need a bank account for trading bitcoins against fiat (for example, against USD here as per your requirements).

Still, you may need to clear KYC in come good exchanges to enjoy full freedom with them. I recommend bittrex for trading BTC against tether and you need to submit your ID proof and no bank account required. There are many exchanges are available to trade BTC this way even without submiting your ID proof. But, enegaing with good and reputed exchanges will eliminate lots of hassles.

I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).

Now I confirm that you never come across about stablecoins. It is almost 5 years that tether has taken the places of needing USD nor bank accounts for trading bitcoins against fiat. Tether is still a crypto but it acts like a fiat, its value is fixed always.

[adzino]

Being involved in crypto space for quite some time now, I have seen the price going up and down a numerous times.
I plan to try out trading to try my luck.

What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.

Do enlighten me regarding this.

I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).

So you want to convert your crypto currency to USD but not have a bank account link to it. More like store it in the USD value only. Why not user tether? USDT is a stable coin pegged with the USD fiat currency. Though I have heard a lot of accusation against them of being fraud and stuffs (not sure how much true it is since I don't use tether or any stable coins). If you don't like USDT, try some other stable coins.
I don't think any exchange/platform will let you store your coin value in a fixed USD value. You are giving them the coin and they are giving you just numbers (value of the coin against nothing) which makes no sense.

[bassbity]

I think you need to read on this article
https://medium.com/faast/how-to-store-usd-on-a-trezor-wallet-or-ledger-nano-s-cdbb2ea6467b

In that article, I see that you can store TUSD but you need to convert from BTC into TUSD so you can store that money. You only need to buy the wallet and start to move your balance to that wallet. Or you can use the BTC wallet that is available on that wallet. That is not USD but TUSD and I think the value is not too different than USD.

That's right, it's not recommended to store assets on the exchange except for trading, this is a cold wallet that is very safe many people use it and I think to convert USD into crypto it's easy to have a pair with USD.

[jmigdlc99]

Trading only USD and crypto is completely up to you. As long as you get funds in an exchange you can convert and trade with USD or crypto at your preference.

I'd recommend going with coinbase. It's the simplest because it's so user friendly and allows you to use and withdraw/deposit using credit cards or bank accounts. However, i'd recommend you practice trading with demo or virtual accounts first, there is much to learn.

[googs84]

Being involved in crypto space for quite some time now, I have seen the price going up and down a numerous times.
I plan to try out trading to try my luck.

What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.

Do enlighten me regarding this.

I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).

local bitcoins is a good option for you if you don't want to withdraw money directly to your account. It would look like the person is sending you money for some service and in return you will be sending him BTC over the exchange. You are right it's not recommended to hold high amounts of USD on exchanges they can be shady at times.

[apoorvlathey]

What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.

Have you ever heard about STABLE COINS? For example, the famous stable coin tether? It is a simple replacement of USD. Tether is a crypto and its value will be always 1 USD. I believe now you may understand why you never need a bank account for trading bitcoins against fiat (for example, against USD here as per your requirements).

Still, you may need to clear KYC in come good exchanges to enjoy full freedom with them. I recommend bittrex for trading BTC against tether and you need to submit your ID proof and no bank account required. There are many exchanges are available to trade BTC this way even without submiting your ID proof. But, enegaing with good and reputed exchanges will eliminate lots of hassles.

I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).

Now I confirm that you never come across about stablecoins. It is almost 5 years that tether has taken the places of needing USD nor bank accounts for trading bitcoins against fiat. Tether is still a crypto but it acts like a fiat, its value is fixed always.

You are right, I didn't know much about the stable coins, I just read about them once but didn't think of using/trading.
Stable coins fit my needs as their price would remain constant irrespective of the price of Bitcoin(my previous assumption for wrong).

I believe that most exchanges would allow me to trade, with some maximum threshold, without the need to fill out the KYC.

[adroitful_one]

Being involved in crypto space for quite some time now, I have seen the price going up and down a numerous times.
I plan to try out trading to try my luck.

What I am looking forward to is if there are any exchanges that enable us to trade BTC/USD without the need to link a USD Bank account. I want to be able to keep my USD funds on the exchange itself (I am aware that it's not recommended to keep funds on exchange) and trade as normal. I would be just withdrawing the funds in crypto as the time comes.

Do enlighten me regarding this.

I don't want to trade between the cryptocurrencies because almost the entire crypto market follows the trend that Bitcoin takes on (more or less).

You're a higher ranking member with a trade history here. You could use the currency exchange section to buy coins with Paypal or something and then deposit them to the exchange to trade. Then, when done trading you can sell the funds back to whatever it is you used to purchase them from this website again. This is actually how I do it. I do a lot of selling on Ebay, so I usually have some Paypal funds I can buy Bitcoin with. I'm sure with your trust rating, you'll be able to purchase coins with Paypal.

[jerry0]

Wouldn't tether be the option for this usdt?


Example you buy btc with usdt.  Then when btc goes up, you sell it back for tether and vice versa?  That way you can accumlate usdt or btc?  Then say you want to cash out, you have to cash out btc.


Say you want to sell it to coinbase, well you have to pay one more trading fee since the btc has to be sold for usd.  Then you have usd.  Is that what you want to do?  Also its like you could send the btc from exchange to someone for cash in person right?  Thus that way no bank account needed?  Where are you located?  Us or outside the us? 


So based on this wouldn't the exchange to do this be like binance?


Also coinbase would also work for this right?  But only difference is coinbase reports if you do over 200 transactions?  And they keep everything in usd as oppose to usdt?

[enhu]

Since you are not open to link you bank account, you should just do it with USDT. But I would assume you would have to send funds first from your bank? If its the later then you really need to link it. You will eventually have to submit KYC, there is no point evading this because they all are asking for IDs.  The only problem is if you are from a country which ilegalize crypto.

[bitgolden]

This is not a A BIG PROBLEM to me as I think that the solution is already there as no one or any exchange will ever oblige you to link your account, it is only when you are involving local  exchanges that are needed to change your coin to your bank that they will surely request of your bank details, or when you chose to use the option of card to deposit your fiat for a particular coin purchase.

But, anything other than this, I think that you can trade on most exchanges and keep your coin on them which to me, I would really never advise you to do so, because exchanges can collapse at any time, and it would be a disaster if you keep all your effort on them and it went down the drain just like that. There are private wallets that you can use for your coins.

[Kupid002]

...
What I don't understand on your statement is on how are you going to enjoy your money if you will not withdraw it to your bank account?

I don't need it in fiat for the time being. So I thought maybe I can just trade and increase my current stack of coins.

...
I highly recommend coinbase pro: https://pro.coinbase.com/markets
They have a license to operate and their headquarters is in San Francisco California so quite safe to trade fiat to BTC. I believe bitfinex offer BTC/USD trading too but keep away on that exchange since they have a lawsuit against them.

You can check your state on the below link if coinbase has a licensed to operate in your place.
See here: https://www.coinbase.com/legal/licenses

Thanks for this information, but I am not a US citizen so don't think I can use it...

Pretty much all exchanges won't require you to have a USD Bank account, and it's just that you will withdraw your profits in BTC instead of USD. I doubt you'll find an exchange that could give USD without a bank account, that's just not right. Check https://coinmarketcap.com/rankings/exchanges/ for the rankings with adjusted volume. Choose any of the ones there and probably use BTC as a deposit and withdrawal.

FYI, you already answered your question. Just use crypto and you don't need a bank account. What's the point?

I would be just withdrawing the funds in crypto as the time comes.

Let me clarify my question, I want to trade my coins for USD and vice-versa but I don't plan to withdraw my USD to bank.
For example, say the price of bitcoin reaches $10k so I would sell some and keep the USD in the exchange, and say when the dip happens and the price goes to $8k I plan to buy back the coins using USD stored on exchange and withdraw them back to my wallet.

If you dont want to use coinbase then why not use any other stable coin to trade your bitcoin.
You can do this also vice versa exchange without the need to link your bank account. Also there are already many exchange option if you will use stable coins its not recommended but you can try.

[fullhdpixel]

Since you are not open to link you bank account, you should just do it with USDT. But I would assume you would have to send funds first from your bank? If its the later then you really need to link it. You will eventually have to submit KYC, there is no point evading this because they all are asking for IDs.  The only problem is if you are from a country which ilegalize crypto.

That's where the problem would come. Bank statements state that our card or bank account was been involved with cryptocurrency trades and our bank might even suspend our account for doing so because it is not yet been legalized over the world and doing the same would need huge fees as bank accounts would usually charge higher for abroad transactions so it is always preferred not to rely upon bank accounts.

Cryptocurrencies are bringing a revolution in the generation and that is why there are a lot of alternatives for centralized systems like we have stable coins, etc. Being anonymous without our centralized financial institute being informed would be better for us to continue having profits.

[bitgolden]

The most simple answer for you would be to use USDT coin which is equivalent to the US dollar. Also USDT pair is major used in most of the exchanges so it would be convenient to use USDT as a trading pair. Also we could make good profits from trading with USDT as the price for BTC moves by $500+ each day and it can be good profit if we invest whole amount bitcoins to make profits from trading.

Moreover, you can store your funds on your wallet if you secure the wallet by additional security such as 2FA, SMS verification, Email verification for withdrawals, etc. It would make your exchange as safe as your wallet. Also using good exchanges has minimum risk of getting hacked or something.

[canamani]

Is this even possible , on p2p markets? Which one are the safest and most used, can i a get a list with this sites?