and did get a call, specifically asking about coinbase, from my banks due diligence office. she mainly wanted to know what i used it for (investment none of your business) and do i send anything out of the country (no none of your business). thats was about it. coinbase and that particular bank account had been linked for like 8 years.
FTFY.
It should not need to be said that I am not giving advice here.
However...The primary reason why I avoid “KYC” is that I will not answer these questions.
On principle. Not to save money—privacy has been absurdly expensive for me! I have lost a lot of money in Bitcoin and especially, in privacy coins. Bitcoin’s rise in value may
offset that.
And I
could not answer some of these questions. For fully legitimate purposes, I have made transactions with cypherpunks whose locations are as unknown to me as my location is unknown to them: Essentially cash transactions with people who could be in the same city as I am, or on the other side of the world. Do I send anything out of the country? I honestly don’t know, and it is
none of my business.And if you ever send me money, then you will never again be able to answer such questions, either. My homeland is
terra nullius—that is all you need to know.
i agree. however ive run life changing amounts of money though coinbase and that bank account. theyve never given me any hassle or even asked where did that money come from. nada. no interest all.
so answering two questions about coinbase that from the bank that, yes, technically they shouldnt need to know (well maybe they do coinbase is giving info to every agency that asks) is a small price to pay to avoid some weird checkbox because i dont fit into some category. doesnt mean i like it.
as to my private wallets, what happens there, stays there.