Not every broker cycles bitcoin addresses. My last remaining offshore broker where I have been grandfathered in as a client for over a decade has had the same bitcoin address for my account the entire time.
I have often transferred small amounts (that I would be willing to lose) between brokers.
That said, it is safer to control one of the endpoints in any transaction. This has been discussed in this thread.
Of course, there is no need to transfer large amounts when there are no (or negligible) margin requirements.
Shifting topic slightly, I am wondering if “major questions doctrine” might move some power from TLA agencies back to Congress in the near future.
According to retired D.C. Circuit Judge Thomas Griffith and Haley Proctor, the “seminal statement” of the major questions doctrine comes from FDA v. Brown & Williamson Tobacco Corp. (2000): “[W]e must be guided to a degree by common sense as to the manner in which Congress is likely to delegate a policy decision of such economic and political magnitude to an administrative agency.”[1]
There are at least two versions of the doctrine,[2] a narrow version (a limitation on Chevron deference) and a broad version (a clear statement rule). Under the narrow version, the doctrine serves only to say that, when an agency asserts that it has authority to decide major questions, courts should independently determine whether the agency’s interpretation of its statutory authority is the most reasonable reading of the statute. Under the broad version, the doctrine says that
It has always puzzled me why brokers need to change your crypto address every time you deposit money into your account, shouldn’t your account have one crypto address for each crypto you deposit?
I think some parties cycle addresses for privacy.
However, all I do with bitcoin is invest and trade. Not hiding anything…
Also, I keep it small enough to not worry about the FUBAR form, so ok track my transaction.
In fact, I would rather have my transaction easily traceable to one broker wallet and not associated with countless cycled wallets that could have been used for anything.
Its absurd we have to jump through all these hoops.
Any way you look at it, it is always safest to own the wallet of one address in any transaction.
Could you recommend a good wallet.
I built up my account at eagle fx and want to start withdrawing.
it gives me two w/drawl options “PayPal via Coinbase” and Bitcoin.
could you advise on best way to transfer funds that will eventually covert to cash to my bank account.
-As mentioned, probably not wise. Some brokers prohibit this, actually. There are also brokers that may require you to withdraw using the same method (and address/account) that was used for deposit. Better to not to have to rely on using someone else’s address for that.
-I have always used Exodus, mostly because it has been around for so long and supports multiple currencies. The fees are high, but it has a built-in conversion, allowing you to convert currencies from within the wallet. It also has the best GUI that I have seen for a crypto wallet.
-You will need to have an account with Coinbase, Gemini, Robinhood, Kraken or some other exchange that accepts US citizens (assuming that you are American). These services act as on/off-ramps, allowing you to convert fiat-to-crypto and vice versa. This also assumes that you will be trading via an offshore broker.
There are other ways, but you will generally have to jump through even more hoops than usual (along with various, other limitations or inconveniences etc.).
Happy New Year, everyone. May our collective focus and intention allow for a shift towards better health, peace, happiness, love and abundance this year.
All but one of my trusted MT4/5 brokers no longer accept U.S. Traders. The overall list of Offshore MT4/5 brokers is down big time. It looks like we will have to switch platforms if we want to continue using offshore brokers, or stick with the ones we already have an account with.
We have partnered with the Forex broker Fyntura Ltd (fyntura.com) to provide an MT4 trading platform to the Hanko clients. Who is Fyntura:
A reliable forex broker providing similar trading conditions that you experienced while using MT4 at Hankotrade. We share some technology and other resources with them and we consider them as our “Trusted” partner.
They are also expected to start providing the MT5 platform within the next few weeks.
They replied directly to my complaint… “You guys moving on from MT is a deal breaker for me. My entire setup that I have spent hundreds of hours working on is all Metatrader, and I’m not willing to move to something else.”
I just emailed them back letting them know they need to resolve the issues seen on Trustpilot for Fyntura. Looks like they are starting the new year with a bang!
-This honestly does not surprise me. I think that Coinexx is already doing something similar (piggybacking; or worse). Whether or not this so-called Fyntura is a different business, or is actually Hankotrade operating under a different name, is unknown (and maybe not even very important).
I suspect that other brokers are struggling without meta and will likely try similar moves. This is a good thing if they can get it sorted out. Sad that things have devolved to this.
Set up a new company with nominee directors and shareholders to provide META with the documents they want to continue to use Meta4/5 via the new company. Any heat that comes from regulators because of Meta4/5 will be directed at the new company.
What you guys don’t know is hanko used to offer whitelabel broker services to other off-shore start-ups.
So the fact they are partnering with this fyntera smells more like a rebranding. It just seems odd they’d partner with a smaller, less known broker unless they’re an arm of the broker and are outright owned by hanko.
I doubt coinexx is doing such things as they’ve gained with hanko’s loss.
I don’t think we understand what’s really going on with mt4 and some if these brokers. It may have nothing to do with regulation but more about licensing costs or even abuse. So anything is just speculation without it being disclosed.
It is bullshitt when they say they’re migrating to better platforms when we know thay aren’t.
I just emailed them back letting them know they need to resolve the issues seen on Trustpilot for Fyntura. Looks like they are starting the new year with a bang!