Many are interested in a crpyto > fiat off-ramp
Especially when they are non KYC. But just how do you convert your crypto to fiat privately? There are actually several options available with each having their own pros and cons, but today I will cover one way which is the VISA/MASTERCARD option.
Before we dive into how this works, you should know that this space is very volatile. Products that projects/companies offer today might not work on the next day or work with limitations. So it's important to keep up to date on social media (twitter and telegram has a lot of activity), to keep the (negative) surprises at a minimum.
With that said, let's dive into Laso Finance.
Another caveat (the last one!): The issuer for the cards for Laso Finance's is being changed at the moment, so wait some days/weeks until the product is available again.
The idea behind Laso Finance is simple, but powerful: buy non-KYC credit cards with crypto.
The setup is very easy:
-connect your wallet
-deposit either USDC, USDT or DAI
-activate card (currently disabled)
-receive the card's info (number and security code etc.)
-use it!
How to use it?
You will have to join the community to get up to date info about its usability. The team is currently working on making them usable with Google and Apple Pay. This would obviously be a big bonus, yet if it will not be possible you should still be able to use them at all shops accepting a Visa card. However note that this is not a physical card, so it is mostly usable for online shopping.
Conclusion
Using this service is one of several ways to utilize your crypto in the "real" world. I feel this is an important matter since there is obviously great demand for services like this, but it also gives more autonomy back to the people since it highlights the importance of privacy in financial transactions which is a fundamental human right.
If you know of other crypto > fiat off-ramps that are non KYC, feel free to comment!
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Does it work already or are they still planning to do so in the future?
it worked; now they are under "maintenance" - should be available again in some weeks
Kyc has become very important nowadays because many people are involved in fraud, so it is better that a person should follow such things.
I am a believer that everyone has a right to financial privacy, so I don't agree with the whole KYC narrative. Fraudsters will always play their game with KYC or not
@tipu curate
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