The use of wallet and different accounts

[Guest]

Good morning all!

New on the chat. Love it!

 

A bit of an explanation.

I am on Kraken and am Tier 2. I have spent my maximum of USD10K on XRP. I want more! I am not able to become Tier 3 because I cannot provide proof of residency/ address. Impossible. I travel almost constantly and have no bills on my own name. My bank statements are online so not much help. Passport and Driver's License are not a problem. I am all legal and not a criminal. I am just lucky to be able to travel so much. Only not this time it seems..

 

I can let someone else open an account at Kraken on their name. I send money to them, they send to Kraken and buy the XRP's. I buy an extra Nano S and store that XRP's there.Now, this should all be possible.

Here comes the tricky part:

Should I want to sell some, can I use different Nano's to send to my own Kraken account? 

What happens if I were to withdraw to my bankaccount? I cannot proof I bought them all.

Can I send to other exchanges as well? Without ever providing the proof of address?

Can I send XRP's bought on Poloniex to my Nano S and then send to Kraken to sell?

Can other Kraken account holders send XRP's to my Kraken account?

If I let that other person sell them for me he should withdraw to his bankaccount and be responsible for the tax. No solution.

 

I think this would all be possible, just looking for a confirmation from someone who has more experience than I.

 

Thanks Hodlers!

 

Edit: I post in "Problem solving" because I am not a member for 24 hours yet.

 

 

 

 

 

 

 

Edited December 29, 2017 by Guest

[mrcarrot]

Alright, here goes:

Should I want to sell some, can I use different Nano's to send to my own Kraken account? 

Absolutely, no issue with that at all.  It's no different than just having someone else paying you from their own account.

What happens if I were to withdraw to my bankaccount? I cannot proof I bought them all.

Of course you can.  You would want to record that you sent someone $$$ for the purpose of purchasing more XRP, and show the transaction for the XRP that you receive as a result of that.

Can I send to other exchanges as well? Without ever providing the proof of address?

Yes.  Keep in mind that most exchanges require that you verify yourself, so you'll be limited to buying/selling/trading based on their limitations.  For example, Binance tier 2 is very easy to reach and that gives you a 100 BTC / 24 hour limit.

Can I send XRP's bought on Poloniex to my Nano S and then send to Kraken to sell?

Yes, but why wouldn't you just send from Poloniex straight to Kraken?  If you're buying on Poloniex and then storing on your Nano S and only sending to Kraken to sell for $$$, that's fine too.

Can other Kraken account holders send XRP's to my Kraken account?

Absolutely.  It doesn't matter who sends you XRP or from where.

If I let that other person sell them for me he should withdraw to his bankaccount and be responsible for the tax. No solution.

No.  You are only responsible for taxes on a capital gain.  You only get a "capital gain" once you sell the coins.  Since the person wouldn't be buying the coins, holding them, and then selling them for a profit, there's no tax liability.

Send me a message if you're looking for someone reliable to help you with this.  We can figure something out that's safe for you.

Edited December 29, 2017 by mrcarrot
small update

[Guest]

Thanks mrcarrot, very much appreciated!

[Mercury]

Also be sure you are not in violation of Kraken's terms of services and that there is legal recourse for both parties. Obviously there will have to be some form of trust, but extra security for all parties involved is key.

I have helped a few other members in similar situations and we normally did it in stages to limit trust issues as well as exchanging legal information. It might help looking up higher verified people. Example: I am tier level three and registered as a MSB with Kraken.

[Guest]

Thank you for your reply, Mercury.

I have started the process. Just sent some money to my brother. He will spend the USD 2000 per day up to his own max of 10k.

His account was open by the way within a week! Not sure how quick the funds clear but impressed nevertheless.

Once XRP's are bought he will put them on his own Nano S, that I just ordered for him.

I have nothing to hide. All money is honestly made and I have been very open about my situation with Kraken.

I will have to be sure to save the transactions, as mentioned by mrcarrot, just as a proof of purchase for my bank, eventually..

 

Today I sent another email to Kraken that I would like to be Tier 3 but I cannot show them the documents to get there. I asked them to either unlock my account and let me stay Tier 2, so that I can continue on my own account to purchase XRP from the 1st of Jan, or make me Tier 3. 

Surely they are extremely busy. Very happy with their support, but I have not heard back yet. I guess I just have to wait.

What is MSB, if I may ask?

 

Cheers,

 

HodlOn