I don’t buy crypto in fiat often but when I do I use my old Coinbase Pro account because I already have a KYC-verified account (I absolutely despise KYC and would love to buy crypto in fiat without having to be on CeFi and provide KYC but that is tough as an American - I have tried using a VPN but I have still had CeFi platforms require ridiculous amounts of KYC and a VPN won’t change my ID).
After I saw that blog written by Coinbase’s CEO yesterday I was like I can’t use Coinbase anymore. I already dislike that Coinbase requires KYC and is a CeFi and is venture-capital funded (and therefore is firmly entrenched in predatory traditional finance), and, on top of all of that, their CEO is toxic and tone deaf.
But then I wanted to buy some ETH in U.S. dollars and realized there are not that many other good choices.
I am aware of platforms like Changelly where you can pay with a card but they all have ridiculous exchange rates where you have to pay like 107% of the real price. Just now Changelly wanted $381 for an ETH that costs $350 on Coinbase Pro.
I wish there was a reliable way to use fiat to buy crypto that did not require KYC or have ridiculous prices or fees and also did not benefit traditional finance.
Sorry I could not figure out how to edit my post but I wanted to add that I don’t necessarily object to his opinion about corporations and politics (I happen to not agree with it but I digress), I object to the way he said it and the actual statements he made in his blog post.
I remember something about Aave recently integrating fiat deposits– here’s the article.
It seems if from the US you still need to do basic KYC, but the fees are only 0.5%.
Realistically, I don’t think as a US user you’ll be able to do fiat to crypto without KYC anytime soon.
I like Binance.us a little bit more because they give you the money to trade faster than Coinbase but you still can’t withdraw it off of Binance.us for 10 days. Maybe look into Bisq.network
If you already have a Coinbase Pro account and are worried about fees, you can convert fiat USD to USDC without fees. As some mentioned, as a US user, avoiding KYC may be difficult.
I use several depending on the value. If it’s a small amounts I charge it to my credit card via crypto.com because they waive the fee. If it’s a larger amount I use a local exchange call bitopro. But my funds don’t usually sit on either for very long.
The question seems to be more about what exchanges can you use Fiat WITHOUT KYC or documentation. Offhand I would say none for U.S. users. If there is a exchange that allows you to deposit fiat and buy crypto without any KYC documentation I would like to hear about it
If I buy in fiat, my first choice is Coinbase. Although not ideal, it’s efficient and the rates and fees are reasonable.
Kraken. One of the few I trust.
Closing this now, as discussions such as this are better suited for the Discord or Telegram groups.