What is an offshore wallet?
Can you explain what an offshore wallet is, and how does it differ from a traditional wallet? Are there any benefits or risks associated with using an offshore wallet for storing cryptocurrency? How do I go about setting up an offshore wallet, and what kind of documentation or verification is typically required? Is there a specific jurisdiction that is known for having favorable regulations for offshore wallets, and what are the tax implications of using one? Additionally, how do I ensure the security and privacy of my funds when using an offshore wallet?