BTC/USD trading without Bank Account

[Wexnident]

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.

Yea stable coins should be your best bet if you want to trade in exchange without withdrawing. Exchanges do allow transactions with max thresholds without KYC, but if you're planning to hold everything in an exchange, what if you can't withdraw it someday? Like you'd surpass the threshold already, and any more would require you to KYC? You'd have no choice then cause your profits are in the said exchange. What I said is completely possible if you suddenly make a massive profit in buying and selling BTC.

Plus, you haven't really told us what country you're currently living in. This possibly limits the exchanges you may participate on, without the need for KYC that is. Exchanges don't really need bank accounts when registering, and even when trading it isn't needed.

[jerry0]

To US residents, best way to trade without bank account?


With bank account, its clearly coinbase/gdax and bittrex right?  What about kraken or bitstamp?

[exstasie]

To US residents, best way to trade without bank account?

What are you looking for specifically? ATM machines? Trading peer-to-peer with cash, e-wallets, gift cards? Ability to buy using credit card?

With bank account, its clearly coinbase/gdax and bittrex right?  What about kraken or bitstamp?

Reputation-wise, Coinbase Pro has them all beat. Fees are worth considering though. Coinbase Pro and Bitstamp have really high fees, starting at 0.5%. Kraken starts at 0.16% maker/0.26% taker. Bittrex starts at 0.25%. Cheaper than all of them is Binance.US at 0.1%.

[pawanjain]

If you already have some bitcoins then you can just open any exchange which has BTC/USDT pair and deposit bitcoins in it and then trade BTC/USDT.
If you don't have any bitcoins then you can deal with some local seller for cash and get some bitcoins.
Eventually you will have to get bitcoins from somewhere and then trade USDT with it in any exchange.

[justdimin]

Yeah, but if you use binance then you wouldn't be able to withdraw to USA bank account as far as I know, hell there was a talk about binance being illegal in USA for a while, don't know what happened with that. In the end best one is cash, if you find the right people (even here) you could meet with people here and you could definitely meet in person and do a cash trading.

I have done it back in the day for the first years of bitcoin, there wasn't any exchange in my nation and there wasn't any ATM or anything, so I met with a person like once a month and gave him all my bitcoins that I earned and he gave me cash (and even paid for the coffee most of the time, was a cool dude) and that is how I handled it.

If you could find people like that in your area you could do cash transactions without any bank or like previously mentioned you could do ATM or gift cards.