I am attempting to purchase something with BTC but I cannot purchase the BTC with KYC. I have a general idea of how to get it, by buying P2P, but what I don’t understand is that whatever wallet I send it to won’t have KYC. So will I still be able to transfer it to the wallet to pay for what I’m buying?
Posted by Most-Rip7297
5 Comments
You can transfer BTC between any wallets regardless of KYC status – the blockchain doesn’t care about verification. Once you get coins from P2P transaction, they’re yours to move wherever you want.
Just make sure the wallet you’re sending to accepts regular bitcoin transactions and you have correct address. Most places that accept BTC don’t require your wallet to be KYC verified, they just want to receive the payment.
You don’t need a “KYC wallet”, wallets don’t require ID.
Just buy P2P, send the BTC to your own wallet, then pay the merchant directly from there. They won’t care if the BTC is KYC’d or not. You’re fine.
Why can’t you kyc? Is the merchant telling you that you can’t?
When you send BTC, you provide a receiving Bitcoin address. You are not sending it to a ”wallet”. Wallets are just applications for creating and managing the keys used to control addresses.
KYC only happens at the point of exchange between fiat and bitcoin (generally speaking). Once you have bitcoin, you can freely move it from wallet to wallet without concern for KYC, unless you choose to.