Diary of a Non-KYC Bitcoiner
1 min read

Diary of a Non-KYC Bitcoiner

Welcome to NOKYCBTC
Diary of a Non-KYC Bitcoiner
Photo by Tezos / Unsplash

My new year's resolution, starting 1 January 2022, is to buy Bitcoin through non-KYC methods for the duration of 2022. This will be a mix of HodlHodl, Bisq and in person trades. I'm looking to allocate roughly $1,500USD per month, more during dips if possible. I am willing to pay up to a maximum of 5% premium on trades.

I will be purchasing throughout the month, coinjoining at the end of the month and sending to cold storage. I will not be selling any coins.

Updates will be posted at the end of each month. Trends, difficulties, failures, tips and tricks will be disclosed along the way.

Let's see how this goes. Follow me along my journey.

Some basic definitions

  • Trade: for me, this is the act of purchasing bitcoin
  • Counterparty: the person I am purchasing bitcoin from
  • Liquidity: the number of active counterparties available to acquire bitcoin from
  • Premium: the amount (usually expressed in percentage terms) that I will be paying above the current market price of bitcoin. (e.g. 5%)
  • KYC: know your customer (a regulation put in place to collect personal identifiable information when opening bank accounts or buying/selling bitcoin on a centralized exchange)
  • Bisq: a decentralized peer to peer open source exchange. An application on your computer to facilitate the buying and selling of bitcoin. Does not require KYC.
  • HodlHodl: a web interface peer to peer exchange to facilitate the buying and selling of bitcoin. Does not require KYC.