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Crypto for F#$%ing Idiots! XD

Luke391 said:
Hey guys, I have a question but didn't want to make it into a whole new thread. What crypto exchange do you reccomend? The common ones like Coinbase, Kraken or Binance all have a long holding period after you purchase and I don't really wanna go trough that, also they have absurd fees. I'm in EU so Cashapp is not avaiable to me and I cannot buy crypto trough Paypal. I don't have a bitcoin ATM anywhere near me (my country is 20 years behind the rest of the world and peer to peer transaction is also damn near impossible, nobody does crypto around here).
I've seen reccommended Coinomi and I'm looking into it but I'd like to also hear more opinions. Thanks.
Sorry if I'm clueless I'm new to the crypto thing and still trying to figure it out
Click to expand...
Whatever you do, have your own wallet. use whatever exchange and send to your wallet from where you send to vendor. sending from your account on an exchange will have you banned before you finish blinking twice
 
Luke391 said:
Hey guys, I have a question but didn't want to make it into a whole new thread. What crypto exchange do you reccomend? The common ones like Coinbase, Kraken or Binance all have a long holding period after you purchase and I don't really wanna go trough that, also they have absurd fees. I'm in EU so Cashapp is not avaiable to me and I cannot buy crypto trough Paypal. I don't have a bitcoin ATM anywhere near me (my country is 20 years behind the rest of the world and peer to peer transaction is also damn near impossible, nobody does crypto around here).
I've seen reccommended Coinomi and I'm looking into it but I'd like to also hear more opinions. Thanks.
Sorry if I'm clueless I'm new to the crypto thing and still trying to figure it out
Click to expand...
No centralized exchange. None. Ever.

Bisq, hodlhodl or other non KYC options.

From there to a non kyc wallet.

Much better than the lazy methods described by many (convenient but very poor).
 
Why do some of you guys place so much importance on crypto transaction anonymity?

Not criticizing anybody, it's a genuine question. I get sending the BTC from the exchange app to a personal wallet before sending it to your source as to not get banned from the exchange platforms, but some of you guys insist on using non KYC to buy the BTC. I don't get why? If I'm getting something sent to my house, there is my name and adress on the package. I feel like the crypto transaction would be the last issue there. If I'll run into legal trouble it'll be easy to reach me trough my name and adress, I don't think they'll go trough the trouble of traking down the crypto transaction.

I am not critiquing anybody, Just explaining my tought process because I don't understand why some of you guys reccoment non KYC?

Also, could an exchange platform still ban me if I do one or 2 hops before sending it to the source? Like buying on Coinbase, sending to Coinbase Wallet, then to Exodus, then source?
Sorry if I'm dumb I'm actually struggling to understand the whole thing. I'm reading a lot of the threads here but a lot is still unclear to me. Thanks.
 
Luke391 said:
If I'm getting something sent to my house, there is my name and adress on the package
Click to expand...
Ms Pat GIF by BET Plus
 
Max Magnus said:
Is Exodus 'Non-KYC wallet ?'

????
Click to expand...
R

Post in thread 'How to pay and receive ANONYMOUSLY ?'

Max Magnus said:
It starting to sink in.

Do you use Exodus to send BT to vendor...?

**Seems like you would loose quite a bit of Anonymity.
Click to expand...

coinbureau.com

Exodus Wallet Review: Is Exodus Wallet Still Good & Safe In 2025?

Discover the ultimate Exodus Wallet review! Uncover its top features and benefits for managing your crypto assets securely.
coinbureau.com coinbureau.com

  • Like
 
readalot said:
R

Post in thread 'How to pay and receive ANONYMOUSLY ?'

Max Magnus said:
It starting to sink in.

Do you use Exodus to send BT to vendor...?

**Seems like you would loose quite a bit of Anonymity.
Click to expand...

coinbureau.com

Exodus Wallet Review: Is Exodus Wallet Still Good & Safe In 2025?

Discover the ultimate Exodus Wallet review! Uncover its top features and benefits for managing your crypto assets securely.
coinbureau.com coinbureau.com

  • Like
Click to expand...
Repetition is the Mother of Learning !
  • No Personal Information Required: Users can download, install, and use the wallet without entering any personal details.
Thanks Read ... !
 
hey guys. I have USDC in my coinbasr wallet on the Base network, I have to change them to the ETH network but it doesn't let me. When I try to send to the vendor thete is no option to change network and in the settings I see the list of networks but no option to switch network
 
Max Magnus said:
Repetition is the Mother of Learning !
  • No Personal Information Required: Users can download, install, and use the wallet without entering any personal details.
Thanks Read ... !
Click to expand...
I'm shocked at how many people claim to have read "every single comment of every single thread" and this just has to keep getting posted.

How come I found that exact post trough google before ever even joining this forum, within seconds at that?

Oh BTW Hi Meso, quite an agressive first comment lmao
 
MFAAS said:
I said I'd post a little bit about crypto and I'm bored. I took the day off today because it's gonna be really nice out, but it's 5 AM and I'm up. So as I drink my cavfefe I shall be writing this post to help bring further glory to Meso!

How to buy Crypto is easy. I'm not gonna talk about that really. There's TONS of videos that you can find with a Duckduckgo search or you can use the dreaded youtube and sit through 45 minutes of ads to watch your 3 minute How To Buy Crypto video (I freakin' hate youtube ads, I refuse to use the platform because of them lol).

What is more important is knowing HOW to use Crypto safely.

First, the cardinal rules of crypto:
1. Never buy or sell more than $599 of crypto per 24 hours (preferably only ever few days at most).
2. NEVER send money directly to a source or anyone else associated with gray market (or especially black market) activity.
3. WHENEVER possible, use Monero (XMR)
4. Always report gains/losses on your taxes

So, some of this may already be covered in my post, "Digital Privacy and Anonymity...", but here is the lowdown:

1. Never buy or sell more than $599 of crypto per day (preferably only ever few days at most).
- The IRS now tracks ALL transactions $600 or over. They get flagged for tax purposes. It used to be $10,000. It was lowered to $600 to try to crack down on tax fraud or some stupid crap (even though the real people who are gaming the system are the ultra-rich, this just cracks down on people like us trying to by HGH, gig workers, people who get paid in cash/tips, etc.).

- Specifically important to this is as it can cause issues with the IRS at tax time. Coinbase issues a 1099-MISC that states your ordinary income or capital gains/losses for the year. When there are large transactions that have been "flagged" by this ridiculously low threshold of a transaction limit, it increases the likelihood that questions will be coming your way (or an audit). Keep transactions to low amounts for your own peace of mind.

2. NEVER send money directly to a source or anyone else associated with gray market (or especially black market) activity.
- I've talked about this before and someone else posted a thread here "cryptobanned" that shows what can happen if your Coinbase account is sending or receiving money that is associated with illegal activity. We refer to each Tx as a "hop" (e.g., sending from Kraken to your personal wallet, or your personal wallet to your other personal wallet, or your personal wallet to your source)
2. Having more hops between you and your source ensures you won't get flagged as doing anything naughty and subsequently cryptobanned.

3. WHENEVER possible, use Monero (XMR)

So the standard process is:
1. Get a Coinbase or Kraken account
2. Buy crypto on the platform (bitcoin, litecoin, ether, whatever, henceforth just referred to as "BTC" since it's most common) with your bank account/card
3. Send the crypto from Coinbase to your own personal software wallet (Exodus is great - a software wallet is installed ON YOUR COMPUTER, never keep funds in a cloud wallet that you need internet to get to. If you're not in possession of the wallet file then you are at risk of losing your funds whether it be from theft, the site going out of business, etc.).
4. Then you can send it to your AAS source...

That is the MINIMUM that should be done and it is probably good enough for AAS. However, ideally, you would use something like localmonero or another site to convert your BTC to XMR (Monero).

Bitcoin literally has the source and destination address as well as the transaction (Tx) amount right there, visible to anyone in the world via things like Block Explorer. Basically Bitcoin is actually MORE public than your own bank account because police/investigators don't even need a warrant to look at the transactions. To request bank statements they need an investigation. There is constant automated blockchain analysis going on and is used by the government to flag, progress, and possibly even start investigations into specific wallets, trying to tie them to an owner--and then into the owner.

In contrast, Monero uses a ring signature feature to anonymize a transaction. This page describes this very well:



Now, there is a company who claims to have been able to do analysis on the Monero blockchain, but i can't imagine them doing this against someone buying gear for personal use. It just isn't practical and would be a waste of time. I don't believe there's been any court records made public where this was used as evidence, even with big busts.

THIS IS WHY IT IS SO IMPORTANT THAT WE AS A COMMUNITY PRESSURE SOURCES TO ACCEPT XMR AND NOT JUST BTC.

Lastly, 4. Always report gains/losses on your taxes:

Look, you're buying and sending crypto to places. Crypto is taxable. You need to report something. Usually unless you're holding crypto for a while you aren't going to see any significant loss or gain. Just keep track of how much you buy (transactions can be exported from Coinbase or Kraken) and how much you send or sell. Exodus has a nice transaction export feature too. From there it is just some simple arithmetic. Add up how much you bought, subtract your transaction fees, then subtract how much you sent/sold. The number is positive: it's the gains for the year. If it's negative then that is your loss for the year. The loss will offset any gains you had elsewhere such as from real estate, stocks, gold, other assets...

That's all that comes to mind for now. Ask any questions you might have, I'll might be a little slow to respond as I'm not on here every day, but hopefully this helps.
Click to expand...
Thanks so much for this. I’m technologically dumb asf so this helps a lot. Still not sure exactly how to do it but getting an idea. So I buy bitcoin on coinbase (I have an account now but limit is 100$ weekly for some reason) then transfer it to an exodus wallet then send that to the source? Or send it to coinbase wallet then exodus? I don’t see an app for monero (on iPhone) but did see on naps most accept that. I just want to buy the shit and use it. Really is a pain in the ass. I’m figuring it out slowly and it’s forcing me to learn new things about gear and technology in the process so not mad about it but it does get annoying.
 
Trippy802 said:
New York State? I would assume so I send crypto to people in NY often enough. On cash app there’s a bitcoin section. You load your money on there it does all the math for you and you enter the code they send you and hit send.
Click to expand...
Ok. Ill try it. NY has weird crypto laws in regards to buying...not sure about receiving...
 
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