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9 sats \ 6 replies \ @expatriotic 23h \ on: R/Bitcoin: I am terrified to move my BTC bitcoin_beginners
I would recommend NOT moving off exchange.
Sell it back to them!!
Then take the proceeds and buy on bisq for UNDER market value for NON KYC bitcoins...
https://expatriotic.me/bisq
As for the fear, it just takes practice.
I'd recommend a redundant approach.
Open a wallet, then put that seed phrase on paper in a few places. Now that seed lives in AT LEAST 3 places hopefully, the wallet being one. BUT yet, no one can spend it with the seed phrase alone, because you SHOULD put a passphrase (think of it as a 13th word) and store that in your password manager (don't worry if it's online, it can't help a hacker if they don't ALSO have the 12 words you've sprinkled around).
Wallets like Sparrow Wallet for desktop and Ashigaru for android allow you to set up a wallet with 12 words and a passphrase (make it strong! 4+ random words) and don't rely on memory for anything.
https://expatriotic.me/acquiring
Sell it back to them!!
Why? Selling Bitcoin would be likely subject to taxes. Well depending where they live.
I would just send BTC through the LN to a cold wallet.
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Riiiiiiight. Don't sell now. Wait until one bitcoin is 10 million dollars in your cold storage. You want to buy something, but wait!! the exchange you used gave over the information about the 1 bitcoin you have and want their cut. They track the bitcoin. Oh! They can't find it because you coin joined and moved to lightning?? Okay then we'll assume you sold it all, now pay up.
Anyway, owning up to owning bitcoin is bad opsec... Exchanges are honey pots of information. Those lists get on dark markets. Get those sats OFF exchanges, but not by sending them, sell it back to them for denyability and then buy it properly.
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First of all, the stacker wants to withdraw not sell. Secondly, if you pay your taxes based on assumptions of your tax office, then perhaps it is time to change your residence?
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Yes but withdrawing to avoid taxes is dumb...
Because they still know you own it.
What'd I miss...
Tell me you didn't read this without telling me you didn't read this - https://nokyconly.com/
Also, I linked https://expatriotic.me/acquiring which is plenty detailed about wallets to use.
It's my recommendation for someone in the OPs position to sell back... Sorry if you don't agree. I've explained my position. Not gonna waste more time with you if you don't understand. I've got guides to write.
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Oh, right, you are @expatriotic, the guy who writes guides. My apologies.
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Not even sure if you're joking, but that's funny nonetheless. Zapping that