Re: Bitcoin Accounts Frozen As Australia Banks Crack Down on Crypto
I am a new here, so i might ask an obvious question. Is there a way to bypass banks in the process. Lets say transfer crypto to fiat and back on the exchange and then deposit the money in bank? I presume that works for smaller amounts...
The way you thought of it of course not.
How do you bypass a bank when you are going to deposit your fiat there?
You say crypto to fiat back on exchnges, how do you deposit how do you withdraw ?
The problem are not the banks , the problem is that exchanges don't offer other ways of depositing money fast and cheap other than banks.
Your only way to avoid banks is to go and deal in cash via local bitcoins.
Kind of ironic....using banks which are the "enemy" of BTC to actually buy BTC.And then complain that there is no other way...