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From that page: > There is no KYC process. How does an unbanked put their paper money into their cryptocurrency account without a KYC process? (Please don't s
by green1 7y ago
From that page:
> There is no KYC process.
How does an unbanked put their paper money into their cryptocurrency account without a KYC process? (Please don't say trust a random third party stranger in a pub offering cryptocurrency at an exorbitant markup.)
> There are no fees for opening or having an account
I've never paid a fee to open or have a bank account, but how does an unbanked put their paper money into their cryptocurrency account without paying a fee (or an exorbitant markup)?
> You don’t need to trust a third party with your money.
How does an unbanked get their paper money into their cryptocurrency account without trusting a third party?
> There’s no need to visit a financial institution. As long as you have internet access you always have access to your money and can make payments.
Online and phone banking existed decades before Bitcoin was created.
> Around 60% said they had too little money to use a bank account
Yet they'd somehow have enough to put into cryptocurrency account?
- dorgo 7y ago>How does an unbanked get their paper money into their cryptocurrency account without trusting a third party? Mining perhaps?
- ativzzz 7y agoHow do you expect someone who doesn't have access to banking to set be able to set up a mining rig? I'm not saying having a bank account is necessary, but the life conditions that prevent bank access (poverty, homelessness, addictions, abuse, violence, etc) will certainly prevent anyone from mining/
- lawn 7y agoThere are many examples of Venezuelans doing just this.
- dunkelheit 7y ago> How does an unbanked put their paper money into their cryptocurrency account without a KYC process? (Please don't say trust a random third party stranger in a pub offering cryptocurrency at an exorbitant markup.) One possibility is that they can receive their income directly in cryptocurrencies.