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RE: This is why we hodl a variety of assets
Thanks for sharing. I had not heard of NEXO (not surprising as I'm new to Crypto) but just swapped .045 BTC to 2,008.511233 NEXO using Atomic Wallet where I had some BTC. Looks like there was a fee or around 3% to do this. I'm wondering if you know of the best exchanges (secure and low fees) or Wallets with exchange functions to make swaps (without KYC/AML)?
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Great you went and bought some! Get yourself an account here: https://platform.nexo.io/
Once you can see your NEXO wallet address there, send it over and they will display the amount you can borrow. The only thing I would say about borrowing is to perhaps wait a bit longer. We want to be SURE the market is in a consistent UPtrend before borrowing. Otherwise it may be hard to pay back... assuming you are going to do what I plan to do... which is buy more crypto and re-invest it.
All exchanges limit the activities of non KYC customers. Though I think most of them let you exchange small amounts still without giving up your ID. Exodus wallet lets you do exchanges, any size without KYC. But their fee seems large compared to exchanges. Not actually sure the fee is as I don't use this feature. I'm just a hoddler these day!
When I need to use exchanges I generally use Bittrex & Binance. Though this very much depends on what I'm buying.
Do i need a NEXO wallet as i have my NEXO in Atomic wallet? I dont plan to borrow.
Having said that, currently i have the unavoidable ability to buy crypto quickly on the dips, as i'm buying with cash via BTC machine, and there's a daily limit how much i can withdraw from ATM's. So i withdraw for 3 or 4 days. then make the 50 mile trip to BTC machine to make the trip worthwhile. But i tend to miss the dips! So perhaps if i could borrow fiat and then buy crypto without KYC, all online, then when i have enough cash a few days later, buy BTC at the machine and immediately convert it back to fiat online (not sure how) and pay back the loan. Is this workable do you think?
No need to hold the NEXO on their platform if you don't want to take a loan. Also, to take the loan one must do KYC, so this may not appeal to you.
Your dip buying system sounds quite entertaining. Rather like it was for me in 2016 when I lived in Bali. Only it was more like 10 miles ;)
To remain off the radar this system is best. The only other thing you could do is use LocalBitcoins.com and find a person more local to you who is willing to sell BTC. If you are able to develop a relationship with this person they might even permit a bank transfer system, which would make life a whole bunch easier for you.