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Crypto has this stigma attached to it of being used predominantly for criminal activities, so exchanges try to collect as much info about customers therefore when a 3-letter agency comes knocking, the exchange can absolve themselves of any wrongdoing by forwarding the KYC info they have.
Now KYC is pretty much part of law in most first world countries where exchanges are forced to collect customer info. You could look for crypto ATMs but they will generally require some form of ID too. Popular exchanges are Coinbase and Binance.
Try a non-custodial crypto payment gateway, like SHKeeper
https://github.com/vsys-host/shkeeper.io
we had luck with btcpay.
We use self-hosted BTCPay + Trocador for alt-coin processing.
100% recommend.
@Nickkeith, because Govts are forcing them to do so.
yes, this is a great approach and does not require any checks of the KYC, and also the funds are completely safe. But there are enough services for example for payments on the site for your business without an ID card and passing verification and unnecessary hassles. Everything only depends on the commissions for processing payments, their jurisdiction and, accordingly, in the event of failures of your protection for the return of funds, and the number of coins and blockchains through which they work, well, and whether they use or do not use custodial wallets.
For example, there is such a service in Singapore - https://coinremitter.com. But the guarantee of receiving funds is certainly not the same as in your case.
But this is not the only option, if desired, you can connect a lot without going through any checks.
The main problem with BTCPayServer is that you are stuck with the volatility of cryptocurrency, which is why many don't use it.
Half of the providers LET have been using this service for years, yes, it has a pretty big commission for transactions and custodial wallets, but it also doesn't need any verification, just work and that's it - https://cryptomus.com/blog/how-to-set-up-a-crypto-wallet
You can go the easiest and cheapest way - set up a Ton wallet in Telegram, accept payments in USDT and exchange via P2P into fiat with complete reliability, protection and speed. It is actively developing by the beginning of 2025 there will be many coins inside and will replace many payment gateways.
The TON wallet in Telegram is non-custodial, i.e. an account whose private keys are stored by the provider. The system allows you to make transactions in Bitcoin, Toncoin, Notcoin, USDT. Among the functions are crypto transfers via messenger without a commission, currency conversion and trading with other users. The commission for P2P exchange is charged from the seller and is 0.9%.
Also, if necessary, the wallet can be integrated into a bot to receive payments: after integration, customers and buyers will be able to make payments without going to third-party services.
this service is a competitor of cryptomus and also without KYC checks - https://cryptocloud.plus/en/crypto-processing
i.e. there are definitely enough payment acceptance mechanisms with cheap commissions and an average level of security on the market. You just need the desire to connect and try. As for payments in cryptocurrencies and their volatility - it is enough to use payments only in stablecoins and use the same - USDT, USDC and the main top coins such as BNB, SOL, ETH, BTC and some others (which are more stable and less volatile) in different blockchains, which will be enough for more than half of the audience - as well as the use of protocols, for example, BEP20 TRC 20 SOL
Avoid Cryptomus.com at all cost!
Cryptomus will surely demand your personal details (and many other details) AFTER you have already sent them money. The excuses will be absurd, you may be told that you're an extortionist and that you didn't make this transaction, you've forced someone else to do it! They'll not provide any evidence to back their claim.
They also violate their own "AML" policy as they list countries which citizens they'll not do business with, and not open accounts for, this includes Ukraine and the Russian Federation. Yet, they have dozens of exchange partners that are entirely dedicated in processing transactions for citizens of these two countries, and they'll also directly request citizens of these countries to register at their website and submit their documents.
On top of that they're totally clueless about how Bitcoin works.
For unrelated reasons to above, as a former customer of theirs: I also highly recommend avoiding them.
KYC has crept into almost every aspect. It sucks because using a custodial service is one of the only ways to cover tons of different coins seamlessly without running 30+ random wallets and nodes.
Took @MannDude up on a recommendation for this not too long ago, so far so good. A little less "smooth" with the pre-made tools, but we won't have issues with nonsensical KYC requests (actual impossible to answer forms at shady sites) or being locked out of a crypto merchant account and ignored.
Fiat currency is used in criminal activities far more than cryptocurrency, especially in cash transactions.
Licensing cryptocurrency exchanges in various countries would enable governments to collect additional tax revenue.
That's a ton of good suggestions, I tried BTC pay but not all functionality i could get. But, found blockonomics good suit for me.
BTCpay actually gives you control and privacy but requires a bit more setup and technical knowledge.
That's a made up, you can't and don't have such data. You can say it's your opinion, though. One counterargument is that cash transactions require in person trade (huge limitation) whereas crypto currency doesn't, hence things like Silk Road and larger transactions.
If everyone buys cocaine from their dealers with cash but the cartel uses crypto to get the money out of the country, is that the same amount of criminal activity or more/less? Does crypto take dirty money out of local communities or recirculate that money back locally like cash more often does?
I'm Canadian and cash is becoming less and less used. I was surprised in Texas they charged 3% fee for using credit card at restaurant. US is like 10 years behind the rest of the world for cash replacement technologies (chip and pin is still not widely used).
In what big way? They tax profits, which are fees on transactions. How are they not already paying tax on profits?
"Cash replacement" is not ideal. Needless restrictions on financial freedom should not be normalized.
It's more convenient and preferred for safety reasons. Less cash on hand, less robberies/theft. It's not just being forced down throats with bad implementation.