Quote from: fatcat1986 on November 25, 2024, 05:47:21 PM

Hi,

I friend of mine bought recently some BTC from ATMs in Switzerland.

Because Switzerland has a limit of 1000 CHF per month without KYC on ATMs,
he bought 10 times 1000 each, with fake phone number.

He wasn't money laundering, just using his own legal money for HODL,
while he didn't want to do KYC.

Now he is wondering whether he might get problems cashing out in the future.

Such activities would raise suspicion from the bank. Even if the ATM was KYC-free. The camera installed on the machine, is more than enough proof to help expose your identity. If I were your friend, I'd buy BTC in-person (F2F) or through an online P2P trading platform such as Bisq. Using cash (paper money) to buy Bitcoin, is the best way to achieve privacy/anonymity.

For the truly paranoid, the purchased BTC can be converted to XMR and back to BTC on a whole new address (public key) for complete untraceability. Selling BTC is the same process but backwards. Governments are always finding new ways to identify or track Bitcoin users, so it's advised to update your methods (doing your own research) just to be safe. You'll thank me later. Cheesy