Anyone use Bitpay to spend crypto?

[Bitman7976]

What's your experience?  I heard they only report to IRS if it's only transactions of $20,000 or more and more than 200 small transactions per year.  Is this conjoined with one another?  Like what if you only do over 200 small transactions, but never did a $20,000 transaction, would they still report?

Also, when you fund your bitpay card, can you fund it from your cold wallet like a ledger instead of leaving all your crypto in their wallet?  Thanks.

[o_e_l_e_o]

My understanding is that the $20,000 IRS limit is for merchants who accept bitcoin via BitPay.

For people spending with BitPay, they initially requested KYC once you hit a limit of $3,000. This was then reduced to $250, and now I understand they request KYC on everyone. They aren't requesting KYC from everyone just for fun. They are doing it because the government has told them to do it. Given that BitPay are anti-privacy and cooperate with blockchain analysis, your only safe option is to assume the IRS have full details of every transaction you make using BitPay.