| This is how Bitcoin ends up... * Bitcoin and Ethereum are grandfathered into not requiring KYC and AML. They are the rare currency with zero friction. * All new currencies require KYC and AML. This is happening right now * Other currencies can have some positives (backed by revenue generating assets, etc.). But they can be confiscated by governments * Bitcoin always has a place, as the zero friction, no-KYC currency. EXAMPLE: I did a wire transfer from the USA to India. Since it was sent in Indian rupees, the receiving bank kept rejecting it. They claimed it didn't pass AML. The real reason is that they wanted to take huge fees for the USD to Rupees conversion on their receiving side. So they kept rejecting it, until it is sent in US Dollars and they can scalp me on the conversion rate. I had 8 weeks of failed transfers. That AML hostage taking can happen across all currencies BUT Bitcoin and Ethereum. In the future, people in China are taking their money out in bitcoin. People across Africa, South America, also often move it into Bitcoin. They can cross justidictions with nobody to stop them. There is a place to cut around the hostage stakers at the AML level. |
I have their Borderless account and hold balances in several currencies at once, with access using a debit card, wires, ACH (US), SWIFT (EU) etc. Highly recommend!