AJ is a British bitcoin miner who loves privacy and hates KYC. When he needs cash to pay his bills, he meets bitcoin buyers in person. EZ is a full-time bitcoin trader who spends his days driving from city to city buying and selling BTC. This week, the two strangers met to conduct a $20K trade. News.Bitcoin.com watched the deal go down, noting the steps each party took to protect their assets.

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The Anatomy of Swapping Bitcoin for Cash With a Stranger

“Is there any way you can do 6-7%,” messaged EZ over Telegram. It was the day of the deal, April 2, an event that had been in the making since the previous Friday. For EZ, it was just another deal. He’d be driving for five hours to meet the seller, and 5 BTC was the minimum he was willing to travel for. For AJ, it would be the largest cash deal he’d ever done by a considerable margin, and he was understandably anxious that it should pass without a hitch.

They’d agreed to a rate of…

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Source: https://news.bitcoin.com/how-a-large-cash-for-bitcoin-deal-goes-down/