Transcription
Hey guys, welcome back to my channel. So, if you're new here, this is a channel about de-banking. And my underlying belief about the over-alliance on the banking system is that it's going to be something that can A, be used against you, and B, it's it's something that actually prevents you from owning your own wealth. Right? So, if someone else is a custodian of your wealth, you don't actually have anything. When push comes to shove, uh, that money can be taken from you in the event of a bank run, or, you know, who knows what else. You know, I'm not going to go into all the details about the, the stuff that can happen. Uh, this isn't so much a conspiracy channel, although I believe in all of them. I just, um, am someone that's going to help you by giving you the tools required to de-bank.
So, I'm going to give you three steps, right? Um, the first step is making money in cryptocurrency. Now, this is going to sound extremely difficult. It will feel like you need to be some kind of genius, uh, that has to create the next, you know, Layer Two DApp. You need to create some kind of, uh, maybe you need to be some kind of like crypto trader or something. But, uh, believe me, in this day and age, it's much easier than you think to create a business in crypto or to make money in crypto. And you don't have to reinvent the wheel here. Just think about whatever you're doing to make money now, and just think about how you can get paid doing the same thing you're doing in crypto.
Now, this is maybe not applicable to standard like nine-to-five wage jobs. Like, if you just say, working with Donald's, right? Um, you can't really convince your shift manager to pay you in crypto, right? But if you're working online, um, particularly if you have a business online, if you have clients, um, if you're a freelancer, if you're a contractor, and particularly if you're working with international people, asking to be paid in cryptocurrency is incredibly simple. And, um, I'm just going to use myself as an example. Every single person who I've asked to, um, to, uh, to pay me in crypto has done so. And everyone that I've asked to pay in crypto, uh, people that work for me have accepted, right? And I made a video about this. And the title of the video, you can check it out, is called, uh, "Should I Ask My Clients to Pay Me in Crypto?" It was something along those lines. And, um, the, the gist of that video is that there are about as many crypto users as there are PayPal users. And PayPal is the primary, I would say, it's one of the, it's probably the number one payment processor, um, online. Um, and this is something that's also cross-borders as well.
So, the reason why, if, if crypto and PayPal are neck and neck, the reason why someone would, uh, prefer to use pay, um, crypto over PayPal is because, number one, PayPal charges you a 5% fee. Number two, PayPal is constantly scoring people over, right? It's very easy to get scammed if you're using PayPal because they have these things that are called, uh, non-reversible transfers. So, someone can send you payment, say they didn't, they can call out PayPal, say, "Oh, I got hacked." Well, you know, and that payment can be reversed, and you can get scammed. Whereas, uh, crypto doesn't have those problems. And in my experience, especially when I've met people, um, that, that have worked for me, and maybe we're originally dealing on PayPal, or maybe we're dealing through some kind of other third-party platform, these third-party platforms end up charging, you know, either the, the seller or the buyer, um, additional funds. So, frequently, when I'm able to get someone to send me, uh, funds in crypto, or, you know, ask someone else to, to send me funds, I'm either able to make more money or spend less money because you get to take out all these additional fees that would be associated with using PayPal. And, um, and all these other third-party transaction fees, right? Like, even when you do a Visa transaction, it's, it's not really obvious to most people, but you're paying like 1 or 2% on that, right? When you're sending someone in crypto, you have to be smart about how you're sending the crypto, um, but pretty much, it can be borderline free. Again, like I made another video, you can check out, "How to Send Crypto in the Cheapest Way Possible." You can send it for as little, uh, money as possible, right? But a, a Visa debit card transaction, it can cost like up to 2%, you know, it depends on what provider you have. But I digress.
So, what you want to do is, you want to be in a situation where you're making money in crypto. So, if you're already, you're, you're employed, um, you're working online, you've got a business, um, you're a contractor, you're a freelancer, get creative. Like, whatever it is you're doing, ask the person who's paying me, can I ask them to pay me in crypto? And you'll only know when you ask, right? So, that's the important thing. Just ask. And you will be surprised that many people may decide that actually, it's more profitable for them to do it. If they will make more money doing it, for, for whatever reason, you don't know what exactly what their reasons are. But if they will make more money sending you money in crypto, as opposed to just trying to transfer it to you via bank wire or whatever they will do it, right? So, uh, that's number one.
And number two is also, sorry, um, just part of that whole making money in crypto. Um, I also made another video that you really need to check out, and it's about all these different business ideas that you can use to make money in crypto. So, if you actually, if you don't, if you're not already, let's just say, you want to think outside the box to not just ask people you're already working for to pay you in crypto, I've also created a video. It's going to give you a number of ideas for actual real crypto businesses, right? So, this isn't just the standard, you've got some contracting business and you ask your clients to pay you on crypto. I'm talking like actual crypto businesses, like making money in the crypto world. Nothing Ponzi, nothing, no, no scammy DeFi crap, like real business, right? And you can check that out. Um, I can't be bothered to put, put the link. Just check out my channel, and you'll see, uh, these things, right? And, uh, the many different ways to make money in crypto. The one that I recommend, the one that I'm part of, is actually becoming a peer-to-peer trader and making money arbitraging. This isn't like some speculation stuff. This isn't some Ponzi stuff. Um, you can just again, go to my channel and you can see all these videos about P2P trading. It's a good way of making money, and it's also a very valuable way of de-banking.
If you're interested in getting involved in some P2P cryptocurrency exchanges, you can use my referral link in the description below. I've got referral links for, uh, for non-KYC seed exchanges, which is a very important part of de-banking because it's going to help you buy and sell crypto totally anonymously. Um, and I've also got some referral links for KYC platforms, which can also be helpful because you get good rates from them. So, so number one is making money in cryptocurrency, right? We're living in 2024. This isn't 2011, this isn't 2017, this isn't 2021. You can make real money in crypto with, without getting involved in some Ponzi scheme, without speculating on ICOs. You can do it. It's a modern-day age. Got to get with the times. You can do it already.
So, the second step. Let's just assume you've got this first step already down. The second step is learning how to spend your crypto and turn it into real-life things, right? So, this will prevent you from having to use fiat money, um, whether that's, you know, having to send your crypto to an exchange and then sending it from an exchange to your bank account where it's then turned into funds. You want to have a direct pipeline from crypto to real-life things, things that you can put into your hand. And, uh, there are a number of ways to do that. And again, this is a big plug for my own YouTube channel, which again, I really recommend you to subscribe to. I've got a number of videos on how to do this.
So, number one, one of the biggest ways of doing this is using gift cards. So, you're making money in cryptocurrency, you use a cryptocurrency, whatever it is, whether it's you're holding Bitcoin or or stable coins at the time, um, go to P2P cryptocurrency exchanges, again, um, referral link in the description below, and you use the cryptocurrency to buy gift cards on these P2P cryptocurrency exchanges and use those gift cards to buy stuff online. So, the number one gift card to purchase are Amazon gift cards. The reason why is because Amazon, uh, you can buy basically anything you want from consumer electronics to, most importantly, groceries, right? We're not just talking about buying just regular things you want to think about things you can eat, right? Um, so, it's cool if you can get a, a one egg, you know, discount, sorry, gift card, right? Or some like, um, some electronic store gift card for some online retailer for that. But if you can get a gift card that, uh, will allow you to purchase food online, then you can guarantee the use of that gift card. Like, you can guarantee it's not just going to sit there rotting and you're not going to be able to use it. And Amazon just has the, the largest application amongst, uh, for, for most items, including groceries, right? And if you're in America, you can have these things delivered to you like within a day, especially if you've got Amazon Prime, right? And on top of that, you're also going to get a discount if you buy Amazon gift cards with cryptocurrency. I don't want to make this video too long. So, if you're interested in why you can do that, you can check out the video in my channel, uh, for that.
So, one of the ways you can use your crypto to buy things is buying gift cards. And if you want to buy gift cards, you can check out Bitrefill as well. That's got a referral link in the description below for that. And Bitrefill is a website where it's not even a crypto exchange. It's just a place where you can outright buy gift cards with cryptocurrency. You don't have to sign up, you don't have to provide any KYC, don't have to provide any sensitive email. I'm sure you can even pay with Monero if you just want to be psycho about it, you can do it that way. And the other way is that you can just outright buy things in crypto on a lot of websites. I don't know about every website. I think if you want the largest variety of things you can buy with crypto, it's easy to do it with gift cards because you've got Amazon and you can buy disposable, um, Visa debit gift cards, which is something I'll go into a moment. You can buy most, uh, online retailers have a gift card that you can purchase. Therefore, it's, you've got the widest range of things if you want to pursue this strategy. But the next thing is just outright using your crypto to buy things online. But you'll have to know what stores you can buy online. And I don't know, like, there are many things you can buy buy online with crypto because there are a number of payment processors, um, that people have been able to like, they're like certain APIs for payment processors. One is called CoinPayments. I won't go into too much details with that. But what it's done is it's allowed standard Shopify stores and like WordPress stores to essentially accept cryptocurrency payments with, with, with, you don't have to be, um, a computer geek to, to be able to accept cryptocurrency payments. It's as simple as like, you know, a PayPal API. Anyone can accept PayPal funds now. You can do the same with cryptocurrency. But then you just want to find out what, um, websites accept a cryptocurrency.
This isn't going to be a plug, but just a recommendation. Um, if you go to CoinPayments.com or .net, you can Google it. Um, on the website, like they'll have like a list of retailers that are using their, uh, CoinPayments API. So, everyone that is accepting cryptocurrency using their API is like listed on this like index on their website. You can see like every website/service that accepts cryptocurrency. Granted, most of them will be like online services, like VPNs or buying servers and stuff like that. Like the majority of things you, you can use cryptocurrency to buy, um, are IT-related goods and services, right? So, if you're in the IT world, um, it's very easy. Like, I'm talking about VPN servers, like most, uh, yeah, I, I know those are things that just come to the top of my head. But anything else that you're thinking of, probably you could do it.
And speaking of spending money in crypto, like, if you, as I mentioned, if you're, if you're an employer, you've got people working for you, you need people to do stuff for you. Um, if you offer to pay them in crypto, there's like a 90% chance in my experience. And maybe I've got a buyer's experience because I kind of work in this field more or less, I'm dealing with people that are chronically working online, so they're more familiar with this stuff. Uh, but most of the people that I've offered to pay crypto, um, to pay in crypto, most of them have gleefully accepted. And mind you, these are people in foreign countries. So, it's pretty much already the best option as well. It's either that or what PayPal, but they're going to, they're going to steal your money essentially. Inside of that, and then what I'm going to send them a SWIFT wire bank transfer, right? So, crypto is already like a default best payment. So, that's another way of using your crypto to, to sell things.
And another one is, um, another strategy is, uh, this is actually based on a video that I made yesterday, and that's using your crypto to buy disposable credit cards. And, um, that's also something that you can do on P2P cryptocurrency exchanges. CoinCola is one of them. Noones is one of them. You can use my referral link in the description down below if you want to sign up to them. And what they are is like, you, you buy these, uh, these, uh, these gift cards. And really, what they are would just be three things. Like, you, you send the person, the seller, the money, and they're just going to give you three things. Like, it's this, uh, the credit card number, the CVV, that's kind of like the number on the back, and the expiry date. And with those three things alone, you could use those things to purchase things online retailers. I don't know about physical store locations, I've never tried it. But most of the time, I've had success just being able to purchase stuff online. And these are prepaid, so you can't top them up. Once you consume its balance, it's completely done. You, you just chuck it away. Well, you don't have anything to chuck away because it's purely digital. But, you know, you can repeat that process.
So, there are innumerable ways in this day and age to use crypto to buy things. And again, based on another video I made, you can check it out. You can use crypto to buy things directly from Amazon without even going and buying an Amazon gift card. And if you want to take it to like a really extreme level where it's like you don't even want to buy, sorry, use an Amazon account because you don't want Amazon to know every single thing that you're doing, you don't want them to create a profile on you, you want to be more low-key about what you're spending, um, you can use a website called, um, uh, BitOff. BitOff. I don't think I have a referral link, but I'll link it anyway. It's called BitOff. If I, I spelled it wrong, you can just type it up in Google. Type in Bit, BitOff, B-I-T-O-F-F. And, um, I, I don't want to go into too much detail because I made a video about it. But just a quick rundown, you can use this website to buy things directly from cryptocurrency. There are people on this website, just ordinary people. It's not people that work for the website. And they want to purchase goods for you on Amazon, um, in exchange for cryptocurrency. And the idea is that they've got Amazon gift cards that they want to turn into crypto, um, because they're basically useless. Maybe they don't, they got a, a gift card for their birthday, or they got it as a work gift. You don't know what the situation is. They just don't want to buy anything from Amazon. But if you give them, uh, the opportunity to purchase, uh, an item for you, they will purchase the item for you, send it to your address. And that way, you don't have to create an account. You can pay for an item in cryptocurrency. And then on top of that, you'll also get a nice discount because, um, the, the monetary value of a gift card is worth less than what you can actually, um, use it for, right? Just because it has limited application. Therefore, this person is willing to give it at a discount. U, sorry, consume his Amazon gift card balance at a discount, just because he understands that you just can't use it for more than on Amazon. So, he's maybe willing to give like a, you can possibly get a 10% discount, possibly, right?
So, those are all the ways that, um, that you can actually use your crypto to buy things. Again, my, my whole channel is about this. So, I suggest you subscribe, and you can check out some of the other videos that I've made to describe these things in detail.
And step number three is, I would say, a very long-term thing. And I haven't made any videos about this as it goes kind of deep, and I don't think everyone's at that level. But you'll know if this applies to you if you get to the point where you're making a lot of money in crypto, or you've already got a lot of money in crypto, and you're spending money in crypto. Right? You've gone to that point where, um, you're very comfortable living in this crypto-to-crypto world. The third step is that recognizing that there is a scaling issue, and you can't necessarily have tens of thousands of dollars of Amazon gift cards, right? It's just not feasible. You know, you can't have thousands of dollars of virtual gift cards, right? Um, the, the other thing is, the third step is thinking about how you can on-ramp, sorry, off-ramp at scale. So, what, what I mean is, you've got a lot of crypto, um, like, well, let's just say you've got a couple of hundred thousand, or even maybe even millions of dollars, right? If you want to turn that into assets, real-life assets, it's going to be very difficult doing it via the things that I mentioned in step two. This is around the time where you want to start thinking about putting your money, like selling it and putting into a bank. This is what would would come naturally to your mind because, let's just say, if you want to, you've got all this money in crypto, you want to buy a house, or you want to buy a car, or you want to do something on a much larger level, um, it's going to be hard to cash out like using all these like little methods, um, on a, on a larger scale.
So, this is where you aren't necessarily going to completely rid your need of banks. But what I can tell you is, um, you want to diversify the amount of banks that you have, and, um, you want to diversify the jurisdictions that they're in. And this is where the larger gameplay comes in, where maybe you've got one bank account and you put all your money there. If you've got, um, if you've got money in the, in the traditional banking system at all, um, you want to go from that to having multiple bank accounts in multiple countries. And ideally, having either citizenship or permanent residence in other countries, so you can kind of protect your claim to your money. And ultimately, um, you might even need to be a citizen or a permanent resident to be able to create a bank in these places in the first place, right?
So, and to get more specific about, uh, creating banks and different jurisdictions, um, there are a few places that are going to be better than others, um, because there are some countries that are a little more crypto-friendly than others, and maybe their taxes are better. So, I'm going to give a few examples of places that I would recommend trying to get some kind of, like, maybe start a corporation there, maybe get a citizenship or get a permanent residence, and start a, start a bank there, um, based on some, some criteria, right? So, you want to start a, a bank account in a country that is, is fairly crypto-friendly. Like, if you just pulled out a bunch of money into crypto into this bank account, no one's going to, you know, blink twice. Um, you know, you just have to, you know, pay whatever taxes that are required of you, and they would be no problem. And then secondly, you want to go to a place that has the lowest amount of tax possible. And usually, the main way of doing that is, like, you can look for a place that has like zero to no capital gains tax, or they've got very low corporate, um, tax, right? So, that might mean that you'll have to create a corporate structure in another country, which, um, I might make videos on this in the future. Um, for those that haven't created companies in, like, other countries, it's actually much more simple than it, than it looks. It just usually requires some money. Um, you get a lawyer, or maybe there's some kind of third party, um, company that will help you start a corporation in another country, and you don't even have to personally be there. And if you're able to sort of start a, a corporation in another country, like an LLC, you will then basically have a right to create a, a bank account in that country, right?
So, I'm just going to name off the top of my head. So, number one, Hong Kong. Right now, Hong Kong is very crypto-friendly. Corporate taxes are low. If you want to start a corporation in Hong Kong, it's actually, it's actually very cheap to do. It might cost you around $1,000 or $2,000, depending on the, the, uh, third-party company that's going to help you do it. And starting a bank account, it's not always going to be the easiest thing. It might take like three months, perhaps. But if you are able to do it, you'll be able to have a way of pulling money out into, um, into the banking system. And again, everything has to be above board. Like, you know, maybe I'm oversimplifying the process and maybe making it sound like anyone can do it. You can do it. It just, it's going to take time. Um, but if you can do it, then you'll have a way of pulling out as much money as you need through the system legally, without, you know, getting your toes stepped on. Um, and then, so Hong Kong is is number one. Number two, you can do Dubai. That's really good as well. Thirdly, there's Singapore. And fourthly, maybe you can look at some of the Caribbean islands. I won't go through all of them. Like, each of them are going to have their own different thing going on. But the idea is, like, if you're able to create banks in multiple different countries and have access to jurisdictions of many, many countries, and you're pulling funds out into countries that are more, uh, crypto-friendly, you're going to have less of a problem, right?
And I know this video is about de-banking, and you might not want to hear that. Maybe you still, there's a, there's a need for for banking. But at this day and age, I want to make a video that's practical for you, right? And you might say, well, that sounds impractical. But I don't want to make a video that's about, you know, talking about some ethereal time in the future of Bitcoinization where one day, you know, you won't have to do this, you know, just keep looking to the future. I just want to focus on the here and now, what you can do right now to de-bank. And, um, that means like, the, in, in the end stages, when you have large amounts of crypto, the best thing you can do is not have to rely on pulling out money in a place where it's going to be bad for you, right? So, if you were to do this, say, in Australia, I don't, I know I don't know as much about what's going on in Europe, UK, or America. I can probably guess it's a very similar situation to what's going on in Australia. And I'm sure this is the case for many other third-world countries. If you just had a, a ton of crypto and you already use your bank to pull those funds out into, first, you're going to have to pay your tax. Now, it's fine, pay your tax. I'm, I'm not recommending anyone avoid paying taxes, right? But let's just say you did the right thing. If you, if you pulled out like a million, if you pulled out like a few tens of thousands of dollars, you're probably not going to have a problem. If you pull out a few hundred K, you have to be really careful about how you dot your eyes and cross your teas. But if you're pulling out like, you know, more than half a mil, a couple million dollars, even if you did everything right, whatever three-letter agency tax office is going, they're going to put a microscope to your paws to make sure that to see if they can get as much money out of you as possible. And this is something that you really don't want to want to experience. If they know that you've got a lot of money in crypto, there's almost going to be like this, it's, it's highly possible, I'm not saying it's guaranteed to happen, but it's very possible that they're going to see if they can extract as much money from you as possible. So, how was explained to me in Australia is that you might just get a bill from the tax office saying that you owe us a million dollars because we know you've got more money in crypto. And you'll say, well, that's ridiculous because you might say to yourself, well, I've only got like, um, a couple of Bitcoin, right? So, that's absurd, right? But the thing is, they don't know that. And and they know that you know that they don't know that, right? So, they they want to kind of like, I guess, almost trick you into into giving them all the information required to tax you at the most amount they can, right? So, then the onus will then be on you to prove how much you actually owe them. So, you, you'll have to look through all your wallets, you'll have to look through all your information, create like, you know, a tax sheet for it, look at every transaction you ever had in the past year or whatever, and then prove to them, I don't owe you a million dollars, I only owe you half a million dollars in tax, right? Which might be a little more than they were, um, than they actually received, right? And this, it's, it's kind of like, like extortion, right? A lot of, I, I believe that a lot of, um, governments will be very incentivized to do this, particularly when there's going to be a bull run, because in 2021, they really started getting really crazy about crypto tax, just because everyone was flush with c, um, everyone was flush with money, the tax man became very envious, and he just started going for it, right?
And, um, maybe on a bit of a more of a conspiratorial note, um, you don't know, and I believe this is the case, that there may be people, we'll just say people, I don't know which people, it could be three-letter agencies, it could be just various unaffiliated malevolent actors, they may be very interested in who owns and who doesn't own cryptocurrency. And they might be more interested in knowing who owns lots of cryptocurrency and who doesn't own lots of cryptocurrency. And if you're on some list, that might be not good for you. So, the idea is, when you're owning cryptocurrency, you don't want anybody to know you have it. You don't want anybody to know how much you have. When you're pulling out money into from cryptocurrency into fiat, you don't want anybody to know, like how much you're pulling out. Whenever you spend money in cryptocurrency, you don't want anyone to know what you're doing. That's the point of cryptocurrency. It's supposed to be totally anonymous. And you really want to kind of build a fortress around yourself to ensure that nobody knows what you're doing, because that's really your right. I don't want to have to argue with like, um, you know, the many sick offense about, you know, like how, you know, you, everything should be transparent. I think when it comes to matters of wealth, I think you have a right to wear your silks on the inside, as the Chinese say. Right? You have a right to, um, keep your wealth unknown, unchecked, just keep it to yourself. And, um, uh, when it comes to the de-banking stuff, at this stage, it's, it's a little difficult to conceal large amounts of wealth if you want to move it back into the physical world. So, as I mentioned, as far as I know, the best way to do it is to ideally try and become part of multiple jurisdictions. And, uh, this is, as I mentioned, this third step is nothing like the, the first and second step, which seems so easy. The third step is really like, if you're beginning to, to play things at a higher level, um, you want to try and find a way to get another jurisdiction. You can buy another passport in another country. You can find some way to get permanent residence in another country. Um, use your money, uh, to, uh, help to, to get third parties to help you build corporations in other countries. And these corporations, I don't know, you, maybe that's related to cryptocurrency, maybe it's not. And then you get your money, and you fuel, you, you filter it through your corporations, and, um, it comes out on the other side, and it's, it's, it's taxable income. And again, I'm not recommending you do anything illegally. If you've got the money to, to even, uh, take this advice seriously, then you'll have enough money to, uh, consult with lawyers first. But ultimately, this is, uh, the, the end stage, right? And this will allow you to, uh, to, uh, at least diversify from using your national currencies, traditional financial banking system, at least if you're using other foreign currencies, sorry, other foreign banking systems, and maybe not relying on one too much. Maybe, you know, you pull out a bit of money from your Dubai bank account, you pull a bit of money out of your Hong Kong bank account, you know, and you try and also diversify where you buy things. Don't just keep like the things that you buy in one particular jurisdiction. You need to try and diversify, like, you know, how you're receiving your funds, and also like where you're spending it as well. Um, so, yeah, I don't know if I, maybe gave a bit too much information about this particular thing. But if you are interested in know trying to take crypto to a higher level, um, that to me is, is the best advice that I could give you.
So, uh, those are three things: make money in crypto, spend money in crypto, and diversify, um, your jurisdictions, essentially, right? Maybe that's the best way to put it.
So, this channel is about de-banking. If you're interested in de-banking, remember to subscribe. You can check out my other videos on this topic. And the big part of de-banking is peer-to-peer cryptocurrency trading. I'm not just promoting this stuff because I'm, I'm sharing the referral links. I'm doing it because I genuinely believe that this is a big change that the cryptocurrency community needs. They need to stop being these Bitcoin Boomers, as I like to call them. You know, they're almost the equivalent of people that just hoard shiny rocks. Like, you need to be able to use your crypto for real-life utilities. You need to be able to use crypto to buy and sell things, pay for services, receive funds from, from, in as income, whatever. And the big way to do it is to get involved in peer-to-peer trading. There's a learning curve to it. But the deeper you go into this stuff, the more flexibility you'll have when it comes to the things you can do with cryptocurrency. Because if you're just relying on spot exchanges or even just DEXes in Web3, that there is only so much you can do with it. All you're going to end up doing is just holding and speculating. And you don't want to be involved, like you want to be an actual player in the game. And P2P trading is the way to go. So, you can use my referral links in the description below. I've got like five exchanges that I recommend that you use. And I suggest you check out all of them because they all have their own unique advantages. So, yeah, um, thanks a lot for watching this video, guys, and I'll see you next time.