Forex using Crypto

Eline

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I know a lot of places where you can trade for various currency pairs which are fiat currency. I am wondering if there are any forex sites which accept the crypto as a means for payment. And they are doing this without any form of KYC. The reason being having KYC and making use of that data can be wrong if the person is living in different country. So I am wondering if the forex trading with crypto without KYC is possible?

Do you have any idea regarding this?
 

Lord Saru

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I dont think its going to be easy to find it because cryptocurrency is not a legal tender in most nations ans governments are trying to prevent them from circulating within the economy thus making their trade illegal and risky.

If you do come across any portal, do let me know.
 
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Ureka

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Cryptocurrency in Forex? This is the first time I'm hearing of it, and I don't think there is any platform currently that does it.
 

Ehizzy1

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I have not seen site like that i think before you deposit they will require you to do kyc data so can get more information about their customers
 

Josemendez

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First the KYC is to prevent multiple accounts . It will not be easy for forex sites to allow forex trading using cryptocurrency as it is not legalized globally.
 

Sanusi

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If i can get you right you said there are forex site who allowed to use crypto as means of payment, mmmh am currently trading using hotforex as my broker, I don't think so if an individual can use crypto as means for payment in forex, because am a begginer in forex trading, but it would be great to use crypto as payment in forex.
 

Kamon c4

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I have been into forex for 4months now and I have never heard any forex trading platform that accepts cryptocurrency as a means of crediting ones account. Probably in the future when cryptocurrency has been fully endorsed and legalized throughout the world
 

Nomad

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For any legal business identity and address verification. If someone wants to skip verifican, there are two possibilities, one the business model is not legal in his country and he wants to do business in a fake identity, two, hia intentions are not good. As far as using crypto in forex trading is concerned, I cannot say anything about this but I believe there is a way to make a deposit with bitcoins through bitcoin prepaid cards.
 

Alexandoy

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I wonder why so many freelancers are scared of KYC. When this forum Bizdustry had announced the government ID for verification of identity I think I was the first one to submit a photocopy of my driver's license. Even my profile picture showed my real face. That means I am not hiding anything. No offense meant, I am just curious why the KYC is an issue. Anyway, with regards to the trading in forex that is foreign currency which means it is a trading involving legitimate currency only.
 

archahmad

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kyc is very important for forex trade officials to have your data in order to secure your assets. l dont think you can byepass kyc in any forex trade platform. if you are worrying about country restrictions change another 1 there are many platforms
 

Ralphjoe

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Olymptrade forex broker accepts Bitcoin payment and I don't think you need to do a KYC process to be able to use it. This is one feature that made me to like the broker alot. This broker is so seamless and spontaneous.
 

Abbas ali

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First, you open a forex trading account with a broker who accepts bitcoins. These include AvaTrade,1 eToro, and LiteForex. 2 You then transfer 2 bitcoins from your digital wallet to the forex broker's digital wallet. If you want to trade using bitcoin, use only a locally regulated forex brokerage.
 

Henrywrites

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I have been into forex for 4months now and I have never heard any forex trading platform that accepts cryptocurrency as a means of crediting ones account. Probably in the future when cryptocurrency has been fully endorsed and legalized throughout the world

This is true, but like you said, it is very possible for some forex websites to start accepting crypto currencies as means of payment. I won't like that option though as this will mean that a lot of fluctuations will occur unless they have a plan to make it work better in the future.
 

Bilal0087

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I know a lot of places where you can trade for various currency pairs which are fiat currency. I am wondering if there are any forex sites which accept the crypto as a means for payment. And they are doing this without any form of KYC. The reason being having KYC and making use of that data can be wrong if the person is living in different country. So I am wondering if the forex trading with crypto without KYC is possible?

Do you have any idea regarding this?
Not at all, i have not heard from anyone about cryptocurrency in Forex, its not possible because in several under developing countries like Pakistan, cryptocurrency is banned and its not legal to pay transection by using cryptocurrency.
 

Adetayo100

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Coinbase is often referred to as the simplest way to buy Bitcoin. The exchange has been around since 2014 and enables its users to buy Bitcoin and 10+ other cryptocurrencies very easily
 

Nicklas22

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First, you open a forex trading account with a broker who accepts bitcoins. These include AvaTrade,1 eToro, and LiteForex. 2 You then transfer 2 bitcoins from your digital wallet to the forex broker's digital wallet. If you want to trade using Bitcoin ,use only a locally regulated forex brokerage.
 

Aniwhyte

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I have been into forex for quite some number of years and I haven't seen anything like one could be able to use cryptocurrency to trade on forex, it's clearly impossible for now but maybe it would eventually be possible someday in the future. Let's just hope so.
 

Erik4150

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I don't think you can trade forex with cryptocurrency. If you want to trade cryptocurrency that's okay but forex is a different ball game entirely and it uses a recognized legal tender. However if you are using a broker to trade, it will possible to pay using crypto.
 
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