David_dlsm on Nostr: Why you should buy Bitcoin with P2Ps: 1- They don't report you to the govmt. 2- They ...
Why you should buy Bitcoin with P2Ps:
1- They don't report you to the govmt.
2- They don't custody your Bitcoins.
3- They handle the process of buying/selling/withdrawing from exchanges for you.
4- They handle the KYC for you.
5- They save you from declaring taxes to the govmt.
P2Ps are heroes who take Bitcoin out of exchanges, contributing to the scarcity and consequent price increase of the asset.
Moreover, they remove the state's ability to tax you every time you buy and leave data traces on centralized exchanges.
Supporting a P2P is contributing to the decentralization of the Bitcoin network.
Buying from P2Ps means not cooperating with centralized exchanges that collude with the government and hold a large portion of their clients' assets in custody.
Every time you buy Bitcoin on an exchange, you expose your data to potential theft.
Every time you leave Bitcoin inside an exchange, you risk losing what you've accumulated since custody is with the exchange.
1- They don't report you to the govmt.
2- They don't custody your Bitcoins.
3- They handle the process of buying/selling/withdrawing from exchanges for you.
4- They handle the KYC for you.
5- They save you from declaring taxes to the govmt.
P2Ps are heroes who take Bitcoin out of exchanges, contributing to the scarcity and consequent price increase of the asset.
Moreover, they remove the state's ability to tax you every time you buy and leave data traces on centralized exchanges.
Supporting a P2P is contributing to the decentralization of the Bitcoin network.
Buying from P2Ps means not cooperating with centralized exchanges that collude with the government and hold a large portion of their clients' assets in custody.
Every time you buy Bitcoin on an exchange, you expose your data to potential theft.
Every time you leave Bitcoin inside an exchange, you risk losing what you've accumulated since custody is with the exchange.