Skip to content

Comment on Online card payments still suckparent

Comments

Creating an empty crypto account is just a click away. But, as a new user, how do you move funds into the account?

You must go through an exchange which is subject to the same KYC and anti-money-laundering regulations as a bank. So it's not actually any easier. After all, banks can also create any number of additional accounts for you in their internal system once you're a customer.

You must go through an exchange which is subject to the same KYC and anti-money-laundering regulations as a bank.

Bitcoin ATMs exist. From what I can make out (IANAL), KYC / anti-money-laundering regulations mostly kick in for turning cryptocurrency into fiat rather than the other way around - which is probably why most Bitcoin ATMs are "buy only".

Buy it from your friends.

AboutSource Built by g1lg1l

Hackerly is an independent reader for Hacker News, built on the public HN API. Not affiliated with Y Combinator.