What other exchanges are there that I can use to deposit ETH, exchange for USD, and then withdraw to a US bank account? Possibly, even a wire transfer.

I’ve been trading NFTs since the end of 2021. I made all of my ETH and income doing only that. I only use coinbase to exchange some ETH into USD once a month for bills and mortgage. All of it was properly reported to the IRS and the taxes are paid on it.

They’re asking for a letter from my HR department, payslips, loan agreements… wtf

I don’t have any of that, lol

  • Ok-Western-5799@alien.topBEnglish
    1·
    10 months ago

    The only way out of this is to self custody your funds. There are various wallets out there for you to use;
    hot wallets; Trust wallet, metamask
    hardware/cold wallets; Ledger, Trezor
    Private wallets; Stash, Samourai, Railway.
    Take your funds out of CEXs, it’s not safe!

  • totalolage@alien.topBEnglish
    1·
    10 months ago

    Recently zkP2P was featured in the Daily Gwei, I’m in no way endorsing it, you should absolutely vett it yourself as hard as you would anything else, but just wanted to point out that it is a project that might meet your needs

  • bishopgay@alien.topBEnglish
    1·
    10 months ago

    well what did we expected its just a broker eventually(no way such a lucrative business could go unregulated)anyway wtf a you surprised about if you still trading crypto into usd

  • M1K3_B13N@alien.topBEnglish
    1·
    10 months ago

    tell them what it is, send those tax receipts instead, and tell em to have a good day

  • Aliyu2g@alien.topBEnglish
    1·
    10 months ago

    WTF! I’m certain this will poses a significant threat to user privacy. I strongly oppose any on-chain doxxing that involves KYC.

    It is good you value your privacy. I believe there should be a way of incorporating privacy preserving chain like SECRET to provide technology that support privacy by defaults, empowering individuals to choose what information they share and with whom.

    • Zoenboen@alien.topBEnglish
      1·
      10 months ago

      Coinbase is no decentralized. They don’t care about privacy. This isn’t on-chain.

      You’re asking for ways to evade taxes and regulation. People go to jail for setting up those systems.

      • Aliyu2g@alien.topBEnglish
        1·
        10 months ago

        I believe exploring the option of setting up a private smart contract could offer a more discreet approach without revealing individuals details.

  • Furlz@alien.topBEnglish
    1·
    10 months ago

    Back in the day when I first signed up for coinbase I was 16 and a freshman in high school. You didn’t need any of that stuff!

  • M1K3_B13N@alien.topBEnglish
    1·
    10 months ago

    more recent option: utilizing Metamask/PayPal. can cash ETH to USD into ur PayPal, and may have other options in your state (I’m in NY, don’t use any CEX)

  • Hosquetxx@alien.topBEnglish
    1·
    10 months ago

    A lot of the other exchanges require you to do the same. Coinbase is a public company and is highly regulated compared to others

  • timmerwb@alien.topBEnglish
    1·
    10 months ago

    Have you explained your situation to them? I had similar to this on Kraken at least 5 years ago. It’s not new. In the U.K. you can’t even buy a house without providing similar kinds of documentation. People will always blame corrupt Gov’ment and conspiracies etc but the reality is no one stands up and complains about it. And then you’ve got crypto and tardfi packed with scammers everywhere. It’s hardly surprising we’re in this mess.

  • WorldSpark@alien.topBEnglish
    1·
    10 months ago

    Well well well - this is a choke point.

    Custodia bank is just designed for this situation but it is only for institutional and accreted investors for now.