My company has accounts with 3 crypto exchanges of which 2 are major brands and the other a local. In every case we had to jump through extra hoops for KYC, etc. But I can’t say its been a great experience. Our local exchange is a bit limited and the majors are not what I would call “business-friendly”. I see there are a bunch to choose and I am seeking feedback.
No affiliate links please. Also bear in mind this enquiry is for an incorporated company. Personal experience may not reflect that of a business account so I need feedback from people who have worked through this issue.
Not sure if you were unhappy because KYC was difficult and you didn’t get finished, or you did the KYC but were not happy with the exchange. I use Gemini for cash purchases and most swaps. For coins not traded on Gemini I swap coins I do have for other coins on Coinex which does not require KYC if swapping coins for coins. Their withdraw limit with no KYC is $ 10,000 a day in value. You can swap any amount but can withdraw $10K daily. Gemini does not have withdrawl fees, Coinex fees are low.
Gemini accepts wired money or if it is a US based Bank does an ACH transfer from your checking account which involves no banker participation. They allow me to move $25,ooo a day and can trade it immediately. About a 5 day hold on position until able to transfer it out. Your bank will tell you what the limit is on your account for ACH transfers in a one month cycle.
The solution is to use the 1720 network in your Ledger nano S and then open the Metamask extension in chrome (or firefox), then select the 1720 network, and then select the “Legacy dApp Browser” at the bottom of the dropdown menu.
You will then be able to access the “Huobi Wallet” and select the “Huobi Global” option.
@Nickz Accepting different coins is a great idea but why walk the hard road to find people who would be willing to exchange the coins with you when you can get them converted on the exchange itself? I too have been taking payments in multiple crypto currencies and have set up automatic conversions with capitalwallet. This way the exchange happens automatically and I receive the currency of my choice in my merchant account.
He is a business, the service solves his problem for a reasonable fee. This way he doesn’t have to cruise dark alleys looking for people to swap coins with. What is wrong with his solution? As a business he needs someone to have computerized reports of his transactions to integrate with his other banking and tax data.