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11 sats \ 4 replies \ @SpaceHodler 31 Dec 2024 \ parent \ on: Strike Adopts Transfer of Funds Regulation bitcoin
I don't use p2p exchanges, because I don't want my bank accounts closed without a warning.
It's easier to find workarounds for withdrawing from exchanges than banks closing accounts.
You do not need a bank account to use a p2p exchange. You can buy bitcoin by mailing a money order to a bitcoin seller, or, if *you* are a bitcoin seller, you can have the buyer mail a money order to you and redeem it at any place that processes money orders.
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use a burner bank account like revolut, wise or your local equivalent and if it gets shut down, your main account won't be affected
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I don't want to lose my Revolut or Wise, those are anything but burner accounts. Without them I'd have half my fiat income.
We have many traditional banks, I guess I could use those, but only while my accounts last, which probably wouldn't be long.
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of course, in your case, they might not be, but there are always alternatives. i can say at least for years of cex buys and now non kyc buys, I've never had an issue.
that being said, rev, wise, PayPal, are all hot wallets to me, not for holding large balances, they do enough shit and close accounts without crypto and their support is garbage ai. whereas at least with my actual bank and i can call them a talk to a person etc
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