Privacy, no KYC, IBAN and crypto? (slrpnk.net)

submitted 2 months ago by orapronobis@slrpnk.net to c/crypto@lemmy.ml

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Hello everyone,

I'm sorry if this was already asked but I can't find any answers to my specific question.

I know there are wallets that don't do KYC and are more privacy focused, at the same time there are wallets that have an IBAN number associated that can work like a normal bank account + a crypto wallet.

Is there any way or wallet that skips the invasive KYC identification processes, privacy focused, that allows me to have an online account with an IBAN that works like a normal bank account but also works with crypto and with low fees? Or am I asking for too much at this point? Lmao.

I just want my privacy, I'm not a criminal, I want to be able to receive money, get paid and all of that in my account without having to sell my personal info to banks.

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[-] dhork@lemmy.world 2 points 2 months ago

Why not use both? If your government requires KYC, you ain't getting around that. They want to track crypto the same way they track other assets, and that will involve monitoring all the on/off ramps. But once you have crypto assets, you now have the freedom to transfer them wherever you want, including wallets and exchanges that are more open/have fewer documentation requirements.

However, this freedom still doesn't exempt you from legal requirements, no matter how much bullshit you think they are. If the non-KYC exchange you transfer to happens to be under some sort of sanction, then you might get screwed if the authorities find out. Are they paying attention to you? Probably not. But it's up to you to decide whether the potential penalty is worth the risk.