How To Buy Bitcoin Straight To Self-Custody With Bitcoin Well

[@gtcstorm40]

I bet I wont be able to use it as a NY resident.UPDATE: I was accepted, thanks. I am amazed LOL

[@IanMajor]

Thanks for sharing your experience - that’s actually really awesome haha

[@gtcstorm40]

@@IanMajor glad you pointed site out, never heard of it. Loving the academy.

[@mbrown5494]

If you're not concerned with privacy from big brother, there are many ways to buy BTC in NY (I live here, sadly) But last I knew, coinbase was the only "approved" method to get it. I was here looking for a non-kyc purchase method. Bisq seems promising, but it's a lot of work to understand and a bit sketchy. Good Luck and HODL. And keep an eye out for any trustworthy coinjoin methods. It will make your BTC nearly impossible to backtrack. They seem to get shut down and banned pretty quickly these days

[@petrolo72]

❓You guys deleted my comment for being “Hate speech “ ? Because I listed all the negative things Coinbase has done to its customers and the community? Unbelievable

[@IanMajor]

Hey - I probably hate Coinbase as much as you do 🤣 YT automatically removes comments and I have no way of changing that unfortunately. You’re welcome to try posting it again with different wording? But I don’t delete any comments fwiw. Sorry that happened. It’s definitely an imperfect platform but one I use for the reach.

[@musashi4856]

YT has become surrogate BigBrother a la 1984/BraveNewWorld!

[@musashi4856]

Why would you give PLAID full access and control over your banking accounts⁉

[@mike80808]

Exactly. Plaid wants full access to all of your bank transaction history and statements from that point forward. Not sure why they need that to take money out.

[@musashi4856]

PLAID is likely an NGO acting on behalf of the Fedgov’t to bypass 4thAmendment search restrictions into private accounts.

[@bethecoin]

Hi Ian. Any chance you might undertake a review of the BCVault wallet. Very unique features and may allow a quasi multisig option.

[@orangebirddog]

Hi Ian. Pretty nice to see a way to have the BTC sent directly. Thank you! Regarding the ATMs - I assume you just take the address of your own wallet with you and type it in manually? And/or there is a QR code method?

[@IanMajor]

I believe there is a QR code scanner :)

[@BonesandFeathers-rh7mn]

I don't understand why i cannot generate a bitcoin address here instead of having it generated somewhere else. I sold my bitcoin on coinbase or converted it to usdc I don't trust COinbase anymore and I do not want to leave crypto on coinbase,. I want a self custody bitcoin wallet that where a bitcoin address is generated and where none of the other stuff should be required

[@IanMajor]

The idea here at least for now is that you have your self-custody wallet and then you’re generating an address from that which you’re then inputting here. I agree having a self-custodial wallet built into an exchange like this would be useful and it might be closer than you think

[@garygmt]

Where can I get that hoodie?

[@IanMajor]

It was a company called Mr. Satoshi but unfortunately they’ve closed their doors. Maybe I’ll auction it off one day as quite a few people have asked 🙂

[@ZOT369]

Swan .99% fee, and they auto deposit to wallet address.

[@IanMajor]

Definitely a fan of Swan as well. I used them for awhile until they started having issues with their custodians

[@backcountyrpilot]

BEWARE, swam adds an extra .3% fee that goes to Fortress Trust, and they don’t disclose this upfront.

[@thequake180]

I would use Swan except their fees are more than double Coinbase fees (using limit orders). I use mostly Kraken which have even lower fees than CB. Another major drawback is that you can't place limit orders on Swan if I'm not mistaken. Limit orders allow you buy and sell at your target price without having to constantly monitor the prices. That is a huge benefit plus fees are much lower when using limit orders.

[@ZOT369]

I do not think Swan has a withdrawal fee when you withdraw to a Cold Wallet. I use this for DCA.. Good to have a selection to stack. @@thequake180

[@Not0rious7]

My wallet won't verify.. whats up with that?

[@IanMajor]

What do you mean won’t verify exactly?

[@Not0rious7]

@@IanMajor thanks for getting back to me. I had to delete my wallet and add it back.

[@vinchino]

Do those bitcoin ATM accept american us dollar? Or do I have to convert my usd into canadian dollars first before using those bitcoin ATM?

[@IanMajor]

I assume only CAD but have asked and am waiting to hear back

[@MrTrda]

Why anyone would use coin base is beyond me

[@thequake180]

Coinbase fees are much lower than companies like Swan or bitcoin well

[@Gismotronics]

I suppose not available in the UK. 😞

[@IanMajor]

Just US and Canada for now as mentioned at the beginning of the vid. Have you taken a look at Peach Bitcoin? Not sure if they’re available in the UK or not either but I’ve seen some good stuff on them for rest of Europe

[@cordellscott]

Stizakin the dizips

[@IanMajor]

🤝

[@joshuamurray9403]

Non-KYC is the only way for the future. I'm not interested in anything else. It's time for centralized governments to no longer exist.

[@hawksbill5037]

So…..how can we trust Well?

[@IanMajor]

I would recommend not trusting any exchange! That’s why I like their feature of being able to send a buy straight to your own BTC address. So you’re not trusting them to custody any of your funds after you purchase it. I suppose there’s a question of “well how can you trust them to do that” to which I’d say it’s like any business. Look at their track record, how long they’ve been operating, the ethos their leadership team conveys. I personally think they do well on these dimensions. At the end of the day you’re trusting someone no matter how you’re acquiring sats, whether it’s an exchange, whether it’s the ASIC manufacturer (if you’re mining), or whether another person / the dispute process if you’re buying P2P from something like Bisq. All have trade-offs.

[@alaaalbkr8491]

thanks for your efforts🌹

[@StuffBudDuz]

That's not a "disclaimer." It's a disclosure.

[@condoonsixthavenue8060]

Is KYC so not interested.

[@IanMajor]

Very interesting - I’m getting several of these comments. What was it about this that made you think it would be non-KYC? “Straight to self-custody”? Btw I have multiple other videos on non-KYC platforms like Bisq and Robosats that you may want to check out - as you’ll see I will always explicitly put “non-KYC” in the title which is why I didn’t put it in this one.

[@eggshi]

Its not KYC for buys. Only sells

[@anthonyleske6840]

It's KYC, bruh

[@IanMajor]

At what point did I say that it wasn’t? Does buying to self-custody imply that it’s non-KYC? Of course not. You can buy non KYC from their ATMs up to $1000 which is pretty good. Check out my videos on Bisq or Robosats if you want other methods of acquiring non-KYC which I even mentioned early on in this video.

[@showcaserome]

Is your identity linked to your bitcoin address?

[@IanMajor]

It likely depends on the exchange, but I would assume that most exchanges are recording what withdrawal addresses are associated with which users. So if a govt regulator puts a gun to their head and forces them to hand over all their data or else they all go to jail (and they've indeed recorded that information), they'll probably comply. There are ways to create plausible deniability about whether you still own that bitcoin through techniques like coinjoins (I have a whole playlist dedicated to this), but that will never erase the past. I also have videos on the channel including a recent one on Bisq 2 where your address wouldn't be associated with your identity.

[@carlhopkinson]

That is a KYC bullshit site. Fey.

[@IanMajor]

Correct KYC for buying online, non KYC when buying (up to $1000) from their ATMs. I clearly indicated that at the start of the video. Have multiple other videos on Bisq or Robosats if you’d like to check out non KYC methods of acquiring sats.

[@ikust007]

The issue with those ATM: the spread .

[@vinchino]

How big is the spread?

[@ikust007]

@@vinchino seen 5-10%

[@IanMajor]

Good point - I’m not sure what spread these particular ATMs have but agree in general I’ve seen them be high. That’s part of the trade-off I suppose and is not dissimilar to the fact that you will typically pay a premium for non-KYC sats in something like Bisq for example

[@ikust007]

@@IanMajor agree

[@youjustdontgetit8117]

I was hit with 19% here in Texas...

[@mbrown5494]

This is obviously NOT KYC. It makes this a "coinbase" with a few perks.

[@IanMajor]

Sounds like you may be confusing non-KYC with self-custody. Nowhere did I say this was non-KYC although you *can* do fully non-KYC with their ATMs (just not from the online portal). The difference here vs. a traditional exchange is that they're making you put in an address from a wallet you control right from the get go and are therefore forcing you to take self-custody of your BTC.

[@mbrown5494]

@@IanMajor No Sir, I clearly understand te difference between KYC (proving your identity before having the ability to purchase) and self custody(sole control of your private keys) Bitcoin Well requires submission of identity, therefore the receive address of purchase is known by the government. This is bad. My assumption was that this company was non-kyc which effectively makes it useless. It makes little difference to send "directly to my address" and taking one addition step to move it off the exchange. I apologize for my poor assumption

[@ikust007]

1:48 like Bull Bitcoin, isn’t ?

[@IanMajor]

I haven’t used Bull Bitcoin personally as it’s not available in the US but I believe similar in the “straight to self-custody” aspect yes

[@ikust007]

@@IanMajor :)

[@ikust007]

Bitcoin Well… interesting

[@contagionisafraud]

I'll send some sats!

[@IanMajor]

🙏

[@namaste597]

Ill Stick with ATMs non KYC

[@IanMajor]

You can buy up to $1000 from their physical ATMs w/o any KYC. I’m not aware of other brands of ATMs where you can do this and I’ve tried a lot.