Way down here in the depths of South America paper money is becoming laughable.
In all countries where they are printing paper notes to pay the army or police, the people are scurrying around to find dollars, euros, metals, or crypto in order to store their wealth. You would too if your currency buys less and less, hour to hour.
I have been in crypto for a long time. I have seen a lot of 'bank-minded' people wanting a 'bank-way' to buy 'non-bank-assets'. They want to see gains on their new crypto-asset now. Then they want to quickly move their new profits back into their bank accounts, constantly moving through the only choke point. They are missing the point.
Banks are the ones that employ people who argue with you about missing money, high fees, and loan rates! Crypto assets should be held, transferred from crypto-to-crypto, or spent. You need to hold your own crypto-keys exactly the way you keep your own dollars in your own pocket. Cash to crypto should be done with real people (not plastic, banks, or web services that ask for your identity).
The Choke Point is that moment that you transfer paper-cash to crypto-cash! And crypto to cash of course.
The police state -of your particular geography- wants to collect taxes on a simple money to money transaction.
I guess they should also be at the laundromat to grab your ID or passport when you get those tokens. How about the game room? Bus card? Raffle?
No, they are only interested in the transaction that they do not understand. It is best to cut the government out of the equation. They are crypto-newbs. Ignorant in their views. Look for small, trustworthy, exchanges that do not bend to government pressure. Keep your crypto in your own crypto wallet and refuse to use service that steal copies of your documents.
The right way to do bitcoin or any other of the thousands of coins is to get paid in said coin, buy things with crypto, develop crypto-friends that want to buy or sell coins. This is the way to move in and out of crypto-currency without exposing yourself to ludicrous, retro-activated tax burdens.
For nearly ten years I have telling people about the benefits of clean, germ free, no-change-necessary, way to pay for food, meals, services, etc. with crypto.
They twisted their faces in a knot and ask how they would get the money out of a bitcoin wallet. The answer is spend it. People could not believe it. They kept telling me, "That's crazy!"
But now people have no problem paying with ebay-coin (here it is called mercadopago). No reservations about how it works. A person buys your old bike, your $number$ on the app increases, you scan a QR at the coffee shop. All good. As long as it involves rapidly devaluing local paper, everyone is on board.
Like a bank (but worse), they still have to call and fight with someone at a horribly disreputable company when the balance is not right or funds go missing. Still, the complex seems all good as long as there is a middle man.
But, if it is a secure account that is not susceptible to government seizure or control, scanning a QR, they say, is crazy.
Localbitcoins.com used to be my main site to find people listing their level of interest in buying and selling bitcoin. Now the site wants a copy of your ID or Passport in order to trade. Governments don't like people trading money for money in secret. They need to know who you are so they can choke you to the point of death with taxes on money that they do not understand. That is KYC - know your customer regulation.
And now we need to find another place to change our bills for bits.
