Is it safe to buy bitcoin frequently using Bitquick or LBC cash deposit?

I was considering buying coins using cash deposit methods. At most I would like to buy $2000 to $3000 a month. What's the consensus about risks for this? Would a buyer doing cash deposit at a bank (say, Bitquick or LBC CD) be anonymous enough to stay out of harm's way? Preferably the resulting coins would be deposited to a fresh random wallet and then tumbled. I've read that some banks and credit unions will ask for an ID. I suppose this links you to the deposit, but the bank would be unaware of where the bitcoin goes if not unaware of it altogether!

As a guy who works a shit job, would this put me at risk with the IRS somehow? I thought that mostly a problem when you're making large transactions through a personal bank account, and especially when putting in more money than claimed yearly income?

Anyway, any advice would be nice. I know this topic comes up sometimes.. Any bitquick specific experiences?


Comments


[8 Points] Cannabun:

Yes, Chase bank knows me as "the guy who deposits money into strangers accounts for the lulz"


[4 Points] Heroic-Dose:

Id try to first find a handful of banks in your area you can spread deposits between that dont require information. Failing that I would find yourself either a friend or strike a deal with a local seller to sell $x/mo for a given % over market. If you go local tumble after and only use the wallet he knows about for inital transaction. That way even in some bizarre chance he would give up info it won't connect to anything


[2 Points] ThisCouldVeryWellSuc:

Bitquick used to be good. I used them for months to buy all my bitcoins. However, this is a WARNING.

They have suddenly started an SMS verification system, you can get around this by using a burner phone, or a good website that can receive texts, however, they then require a real name that needs to be linked to the phone number, which is total BS.

Personally, I would go LBC. It is very safe as long as you use a vendor with a good rep. You pay more, but its worth it. With the right vendor you can buy your coins completely anonymously, so there is no need to tumble or anything like that. I usually always use the same vendor. He only takes MoneyGram, which is an extra $10, but he does not markup his coins that much and he does not require a real name or anything, so its great.


[2 Points] isagoradownbro:

Is it bad that I use coinbase?


[1 Points] None:

I used to do a cash deposit with the same few sellers every week for around $200-250 or so and never had any issues. Started using circle though.

Always went through the drive through with the screen. You only see the teller for a few seconds pretty much (Wells Fargo). Wore sunglasses the first few times but stopped after a while. It's not uncommon to deposit money into someone's account... But circle is just so much easier

Fuck a Hundo a week limit though. That pissed me off. Took way too long to get it upped to $300 after asking about fifty times. Had to go through LBC sellers a few times while waiting for circle to raise my limit


[1 Points] sdfhgdhjbdafcadv:

It sounds like you plan to buy off the DNMs to resell locally. In this case I would definitely buy the BTC anonymously via LBC cash deposit and avoid Circle or Coinbase. Use the drive through and a few different bank branches. I wouldn't bother tumbling the coins since they're not linked to your real name anyway in this case.

Edit: Upon further reflection, I'd recommend you tumble the coins. Better safe than sorry.