BrewMaster (OP)
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January 30, 2020, 03:47:23 PM |
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i'm looking to exchange a small amount of bitcoin to tether but i have never done this before in anywhere other than a regular exchange which i don't want to use this time. i am looking for a more decentralized way in a site like shapeshift for example that doesn't require KYC or any kind of registration.
additionally do you know any tether wallet i could use to receive and then send it later locally that also doesn't need signing up on a website or KYC,...?
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There is a FOMO brewing...
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OmegaStarScream
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These exchanges are not really decentralized, but most of them don't require any KYC/registration: https://bitcointalk.org/index.php?topic=5218464.msg53632740#msg53632740As for the wallet, then you have Omniwallet. You'll be required to make an account, but it's a very quick process and everything is created locally (the project is open source). Or you can also use Electrum to receive your Tether (to your bitcoin addresses), and then whenever you want to spend your funds, export the private keys and import them to the website above. |
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squatter
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STOP SNITCHIN'
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January 30, 2020, 07:06:28 PM |
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As for the wallet, then you have Omniwallet. You'll be required to make an account, but it's a very quick process and everything is created locally (the project is open source). Or you can also use Electrum to receive your Tether (to your bitcoin addresses), and then whenever you want to spend your funds, export the private keys and import them to the website above. Using Omniwallet may not be necessary (or even possible), depending on which exchange is used. Some exchanges only offer Ethereum-based USDT support. As an example, this is what you'll see if you input a Bitcoin address for USDT on Flyp.me:  In those cases, you'll need an Ethereum wallet like MyEtherWallet (MEW) to receive and spend the USDT. |
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BrewMaster (OP)
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February 01, 2020, 03:28:07 PM |
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thanks for the list, i had only heard the name of 2 of them! i think for the wallet i am going to try what squatter suggested with MyEtherWallet and the tether tokens instead, that sounds like a more reasonable choice than Omniwallet to me since there is no account per se. |
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TheUltraElite
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February 02, 2020, 08:59:01 AM |
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@Brew,
If your amount of bitcoin to be exchanged is small say around less than 0.1 BTC then you may be able to sell on some of the more popular centralized exchanges without having to pass any KYC and get USDT in return.
Going for Electrum and then having to export them private keys to another website seems more of a heckle if you are never done i before but there always is a first time to everything so its up to you to decide.
Be careful about wrongly sending funds to a wrong wallet. There are ways to correct it but I prefer to be informed and safe than sorry.
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BrewMaster (OP)
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February 03, 2020, 04:34:35 PM |
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@Brew,
If your amount of bitcoin to be exchanged is small say around less than 0.1 BTC then you may be able to sell on some of the more popular centralized exchanges without having to pass any KYC and get USDT in return.
i am mostly interested in finding ways that don't require any kind of account creation. specially methods that are fast so that i don't have to wait, just go there make a deposit and get USDT out. all centralized exchanges have lots of hoops to jump through. |
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gentlemand
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Welt Am Draht
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February 03, 2020, 04:45:02 PM |
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Both Ledger and Trezor offer USDT storage but I'm not totally sure which version. It could get messy if you have the wrong one. Coinomi seem to offer it too and they also have Shapeshift integration. You need a Shapeshift account these days but I dunno how demanding they are.
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1Referee
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February 03, 2020, 05:57:37 PM Merited by BrewMaster (1) |
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If your amount of bitcoin to be exchanged is small say around less than 0.1 BTC then you may be able to sell on some of the more popular centralized exchanges without having to pass any KYC and get USDT in return.
The problem is that it never really feels good doing that. My worst fear is that the exchange out of nothing just demands KYC verification. It's literally you playing Russian roulette with your funds. In my case it would mean that I have to let the exchange own my coins for ever, because I'm definitely not going to send my personal information to any of the current non-KYC exchanges. On Ethereum it would be peanuts to exchange your Ether to Tether but with Bitcoin you in most cases will need to take on some degree of counterparty risk.  |
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OmegaStarScream
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February 03, 2020, 06:46:32 PM |
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Both Ledger and Trezor offer USDT storage but I'm not totally sure which version. It could get messy if you have the wrong one. Coinomi seem to offer it too and they also have Shapeshift integration. You need a Shapeshift account these days but I dunno how demanding they are.
Ledger support the ERC20 version while Trezor offer the Omni one through OmniTrezor.com. Regarding ShapeShift, If I'm not mistaken, KYC is avoidable if you're using it through a third party wallet. |
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gentlemand
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February 03, 2020, 06:52:38 PM |
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Regarding ShapeShift, If I'm not mistaken, KYC is avoidable if you're using it through a third party wallet.
If I remember correctly I did have to create a Shapeshift account but didn't require KYC. I can't remember whether that was directly through Shapeshift themselves or one of these wallets. |
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squatter
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February 03, 2020, 08:43:43 PM |
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Regarding ShapeShift, If I'm not mistaken, KYC is avoidable if you're using it through a third party wallet.
If I remember correctly I did have to create a Shapeshift account but didn't require KYC. I can't remember whether that was directly through Shapeshift themselves or one of these wallets. How long ago was that? Shapeshift membership became mandatory in October of 2018. Shortly after, wallets like Jaxx and Coinomi disabled in-wallet exchanges for anyone who didn't link a verified account. It may differ from jurisdiction to jurisdiction, but currently, establishing a verified Shapeshift account (so I could actually trade) would mean thorough KYC:   |
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gentlemand
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February 03, 2020, 08:47:05 PM |
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How long ago was that? Shapeshift membership became mandatory in October of 2018. Shortly after, wallets like Jaxx and Coinomi disabled in-wallet exchanges for anyone who didn't link a verified account.
Can't remember. i do remember it was Bitcoin Gold and that took so many confirmations I had to wait several days. Am pretty certain I wouldn't have bothered with Shapeshift if it did require KYC. Plenty of exchanges I am signed up for would've done the job. Not surprised it's different now. |
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SquallLeonhart
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February 06, 2020, 01:02:51 PM |
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How long ago was that? Shapeshift membership became mandatory in October of 2018. Shortly after, wallets like Jaxx and Coinomi disabled in-wallet exchanges for anyone who didn't link a verified account.
Can't remember. i do remember it was Bitcoin Gold and that took so many confirmations I had to wait several days. Am pretty certain I wouldn't have bothered with Shapeshift if it did require KYC. Plenty of exchanges I am signed up for would've done the job. Not surprised it's different now. It's a way lot different now. Majority of the exchanges have made KYC mandatory because most of the countries are restricting their citizens from engaging themselves in cryptocurrency transactions and it is also pressurizing many of such exchanges to make KYC as mandatory. Even I remember those times when I was able to convert bitcoins into various other coins without worrying about KYC and also doing it for minimum fees. There are now higher withdrawal fees which might not even make OP succeed in converting small amount of bitcoins to tether. Shapeshift also has done KYC mandatory and even third party wallets linked to shapeshift have now being making KYC as a mandatory process. |
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wozzek23
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February 07, 2020, 03:17:33 PM |
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Why would you look for an exchange which you could use to revive and send USDT without signing up?
I hope you are aware about the risk that you can lose your funds if you use any platform which might offer you benefits to send and receive tether without signing up because a normal cookie erasing might make you lose the wallet forever if you didn't secure the backup phrase, etc. Also, as far as I know there are a lot of platforms where you can convert bitcoins into tether but as you mentioned that you want to convert a small amount and hence we do need to consider the fees which would be required to generate the transaction.
Best advice for you could be to simply create a thread in "currency exchange" section mentioning your need and choose a trusted partner who can send you tether for bitcoins. You can't convert bitcoins into tether more easily than this way.
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