this post was submitted on 18 Jan 2022
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Privacy

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[–] ethicallypulmonary@lemmy.ml 1 points 2 years ago (2 children)

I don't know about where you are, but at least in Australia, there is no legal way to acquire cryptocurrency without handing over government ID, in my case both a driver's license, passport, along with a photo of myself. Sure, there's decentralised exchanges, but that's a risky move for most people.

[–] AnarkioCrypto@lemmy.ml 1 points 2 years ago (1 children)

There are many ways to buy Bitcoin/Monero without ID (e.g. I work remotely for crypto and exchange to cash to pay for food and rent, since I can't get a bank account). Cash in person/cash by mail (LocalMonero.co, Bisq.network, HodlHodl.com), Bitcoin ATMs (CoinATMRadar.com), vouchers (Azte.co), gift cards (Redeeem.com), jobs (Microlancer.io, Reddit.com/r/MoneroMarket) or local tech/libertarian/crypto meetups are some options.

[–] ethicallypulmonary@lemmy.ml 1 points 2 years ago (1 children)

Bitcoin ATMs in Australia (I believe) fall under AML/CTF laws which require them to register and comply with regulation that compels them to establish a customer's identity:

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requires regulated entities to collect information to establish a customer’s identity, monitor transactional activity, and report to AUSTRAC transactions or activity that is suspicious or involves large amounts of cash over $10,000.

I commented on decentralized exchanges like BISQ and how it can be risky. I wouldn't be surprised if my bank froze/shut down my account if they learned I was buying cryptocurrency peer-to-peer.

While happy to be proven wrong, I don't think it's possible here.

[–] AnarkioCrypto@lemmy.ml 1 points 2 years ago

I earn less than $1000/month in Bitcoin/Monero, which I withdraw to cash to pay for food and rent, which are necessary living costs. This is much lower than the $10k limit you described. I can't get a bank account anyway and use cash for P2P trades (Bitcoin ATMs, cash in person, cash by mail).

[–] axeltherabbit@lemmygrad.ml 1 points 2 years ago (1 children)

from an exchanger how about private transcations?

[–] ethicallypulmonary@lemmy.ml 1 points 2 years ago

Could you elaborate? I'm not very knowledgeable about cryptocurrency.