doing a freelance project for foreign companies, we want to make things easy so i receive USDT rather than going through conventional banking

i have LUNO and nexo account. Luno doesnt deal USDT
Nexo does but i am not sure if its safe.

I am looking for a safe place to receive my USDT. upon receive will try to convert to fiat and send to my bank account. so priority is safe, trustworthy, wont behave like ftx , celsius etc

Binance and you can find someone you can trust to exchange. Don't use P2P.

errr some time ago i read that binance is banned in malaysia? is it still so?

there is some way la.

I don't know the amount you will receive a month. You can consider hardware wallet too like ledger nano

Just create an Ethereum account with MetaMask.

Any mainnet Ethereum address can receive ERC20 tokens like USDT.

Why not convert USDT to Btc or Eth then send to Luno? If you're withdrawing to local bank account then i think it's the legit way since Luno is the only one regulated

This post has been edited by iamloco: Feb 18 2024, 06:26 PM

Convert to LTC instead as the fees are low and not as volatile

Haven't tried this, by my concern will be liquidity in LTC hence worse exchange rate to RM..

i done this few times, it's more safe than P2P, unless you have trusted buyer/seller. Also this can be done anytime you want. Earn is earn and to be safe.

This is the best.. use bingx/mexc/binance.. convert to LTC and send to Luno

Apart for the bad buy/sell spread, why not Binance P2P?

I was thinking from the angle of which coin give the most value in terms of USD?

I always have the dilemma on which coin should I convert to, to get the most out of my USD

Get a hardware wallet e.g. Trezor or Ledger, you can convert to any coins (including USDT) you want easily and keep them in your wallet.

The thing is when u withdraw with luno, u going to declare lhdn?

ledger support a lot of coins, but because of their crappy policies to introduce nonsense like backup seed phrases by splitting it to the cloud (dumb idea. what happened to not your crypto not your keys ? you can SELF backup your seedphrase and never tell anyone about it, which should have been the only method to support. not what ledger is now peddling ) then he may want to consider a different cold wallet.

trezor support is not as good as ledger (they don't support as many coins. they don't feel very proactive in that sense). but it supports like bitcoin, ethereum, solana which are popular coins. And it doesn't have baggage like ledger did with their new seed phrase policy

but what you definitely should not do is use hot wallet for storing much of your crypto. if malware gets onto your pc, it will be an easy time to drain your hot wallet. it's happened to a lot of people with poor cybersecurity understanding and practice. with a cold wallet, it's much harder to siphon funds unless you did something silly like connect it to a dodgy site that asks to link to your cold wallet and you said yes (then physically pressed the cold wallet button to ok it), then sinister things happen

This post has been edited by Moogle Stiltzkin: Mar 2 2024, 08:14 PM

donation from saudi prince

use XAPO Bank, UK offshore bank licence and backed by Softbank.

I use Ripple.

XRP network fees are pretty low too

Hi, it is safe to give the passport copy to XAPO Bank? thanks.