Oct 2 (edited) in Kingdom Wealth Strategies 📚💡
Double to 10 times your current Crypto Portfolio - Master Post for Crypto Loans with Palau Digital Residency
Detailed video -> https://www.youtube.com/watch?v=RKLnRVWtUVQ
Sign-up -> https://rns.id/?rc_by=obfVLwps (tutorial -> https://www.skool.com/christian-crypto-kingdom/classroom/af1f5610?md=6f3d76c17bd342eab6efe7a434d52232)
**Coles Notes Detailed Summary: Navigating Crypto Trading Restrictions with Palau Digital Residency**
The video addresses the increasing difficulties faced by crypto traders, particularly in the U.S. and Canada, due to exchanges restricting access and enforcing strict Know Your Customer (KYC) regulations. To mitigate these challenges, the presenter introduces the Palau Digital Residency Program, which offers a government-issued identification card (Palau ID) that can be used for KYC purposes on various crypto exchanges.
**Key Points:**
1. **Challenges in Crypto Trading:**
- **Exchange Restrictions:** Many crypto exchanges are cutting off users from certain countries, making it hard for traders to access their platforms.
- **KYC Enforcement:** Exchanges are increasingly requiring users to complete KYC processes, leading to concerns about fund accessibility and account restrictions.
2. **Introduction to Palau Digital Residency:**
- **What is Palau ID?** A sovereign-backed, government-issued identification card from the Republic of Palau that serves as legal proof of identity.
- **Purpose:** Allows individuals to KYC on exchanges as Palau residents, bypassing certain geographic restrictions.
- **Notable Digital Residents:** High-profile figures like Tim Draper and Vitalik Buterin are mentioned as digital residents.
3. **Verification and Effectiveness:**
- **Proven Success:** Members of the presenter's Discord community have successfully used the Palau ID to KYC on exchanges like Bybit, MEXC, and KuCoin.
- **Exchanges Supported:** While some exchanges like Binance require additional address verification, the Palau ID works on several major platforms.
4. **Application Process:**
- **Cost Options:**
- **One-Year ID:** $248
- **Five-Year ID:** $1,039
- **Ten-Year ID:** $2,039
- **Steps Involved:**
- **Account Setup:** Provide an email and password.
- **Payment:** Can be made via cryptocurrency or credit card.
- **Identity Verification:** Upload a government-issued ID (driver's license or passport) and complete facial recognition steps.
- **Processing Time:** Approximately two weeks for approval and physical ID delivery.
5. **Legal and Tax Considerations:**
- **Compliance with Local Laws:** The Republic of Palau requests that digital residents respect the laws of their actual country of residence.
- **Tax Obligations:**
- **Palau's Stance:** Palau does not impose taxes on non-Palau income.
- **User Responsibility:** Individuals must adhere to tax laws in their home country and report income as required.
- **Legal Gray Area:** Cryptocurrency regulations are still evolving, particularly in countries like the U.S., making compliance complex but essential.
6. **Ethical Trading Practices:**
- **Importance of Paying Taxes:** Emphasizes the necessity of fulfilling tax obligations to avoid legal repercussions.
- **Avoiding Illicit Activities:** Advises against using the Palau ID to circumvent laws or engage in illegal activities.
7. **Additional Benefits of Palau Digital Residency:**
- **Future Opportunities:**
- **Business Registration:** Plans to allow digital residents to open businesses in Palau.
- **Property Ownership:** Possibility of purchasing property, with crypto homes being developed.
- **Financial Services:** Access to digital banking, potential for obtaining a Palau mailing address and phone number.
- **Use Cases Beyond Crypto:**
- **Verification for Services:** Can be used for ID verification across various platforms, including payment processors, travel services, and more.
8. **Security and Peace of Mind:**
- **Reduced Anxiety:** By obtaining the Palau ID, traders can avoid sudden account blocks or fund freezes due to KYC issues.
- **Legal Trading:** Provides a legitimate means to continue trading on preferred exchanges without violating terms of service.
9. **Community Support:**
- **Discord Group:** The presenter offers a free Discord community (discord.gg/defirebels) for additional support and trading resources.
- **Educational Resources:** Aims to help others learn how to trade effectively and ethically.
10. **Conclusion:**
- **Final Thoughts:** The presenter advocates for proactive measures to ensure secure and lawful trading experiences.
- **Immediate Approval:** Shares that the application was approved quickly, reinforcing the efficiency of the process.
- **Call to Action:** Encourages viewers to consider the Palau Digital Residency as a viable solution to current trading restrictions.
**Summary:**
The video provides a comprehensive overview of how the Palau Digital Residency Program can serve as a practical solution for crypto traders facing exchange restrictions due to their nationality. By obtaining a Palau ID, individuals can legally satisfy KYC requirements on multiple crypto exchanges, thereby maintaining access to trading platforms that might otherwise be unavailable. The process is straightforward, relatively quick, and offers additional future benefits, such as business opportunities and access to financial services in Palau. However, the presenter stresses the importance of adhering to one's local laws, especially regarding tax obligations, and cautions against using the Palau ID to circumvent legal responsibilities.
Ability to increase everyone's portfolio to at least
12.5% Technically up to 78% let's go safe for now at 12.5%
12.5% x 10 when XRP hit's $7 that's 10 times you just made 125% more
12.5 x 100 when XRP hits $70 that's 100 times your money just made 1,250% your money!
CRYPTO LOANS!!!
BINANCE CRYPTO
So for the $100 example and you want to borrow just $12.5 in this case.
All you have to do is
Borrow $12.5 or the 12.5%
LTV will be automatically 78%
Push the slider down to 12.5%
And add the collateral of the XRP and you are done!
So with the example of the above and the screenshot
the scenario is
I have $1000 USD worth of XRP
I borrow $100 USD
use that to buy more XRP
and decrease the LTV slider from 78% to 12.5% add the xrp more collateral which is around $900 more
and you are done!
NO KEYS NO CRYPTO
only leave in the exchange what you are ok to loose...
Note how to bullet proof your exchange:
1) Iphones/Mac Devices get that, don't use pc/android, no facial recognition, always logout if you are see below:
2) Get yubi Key
3) Sign out of your crypto sessions, logout everytime you do a crypto activity, that wipes your cookie
(If a hacker grabs your cookie(file in your computer) they don't need your password, or your yubi, key, and this is easiliy done with a pc/android by you clicking a mischeivous file)
4) Don't use wireless devices, 5 houses people can take over your wireless/mouse keyboard
5) Phishing, vishing, smishing Never give anybody information 0 information to anybody including Erwin and Minas Academy
6) Apis are not accessible
7) Exchange jail/suspension/delays, that's why do this with more exchanges, Binance/Bybit x 2
3
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Double to 10 times your current Crypto Portfolio - Master Post for Crypto Loans with Palau Digital Residency
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