Silk Road forums
Discussion => Newbie discussion => Topic started by: piffdiddy on July 28, 2013, 02:34 pm
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Hi,
I've been buying my BTC from localbitcoins.com recently, but I was wondering about the lack of anonymity when making bank transfers. Is this something I should be concerned about? I don't live in a city, so meeting someone face to face isn't likely to happen without a couple of hours travel time.
Also, will my bank become concerned that-- out of the blue-- I'm making several bank transfers to random individuals?
SR is slowly becoming my go to guy, so to speak, so I want to make sure I stay on top of my security.
I'm based in the UK if that makes a difference.
Thanks,
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I believe it is perfectly legal to buy BTC...
I doubt any bank will be flagging transfers to individuals - the mix of names and principle amounts will unlikely be flagged - and even if so, the concern is not purchase of an internet currency. I see no reason for concern here. But good to be cautions.
Doc
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Also UK here.
I've been using localbitcoins.com primarily for btc since i started, I dont know what volume of purchases you're making, but i doubt the bank will concerned unless maybe you're going over the 500-1000 mark.
Anonymity is not really an issue. buying btc is legal, and they cant really be traced from you to SR anyway, again, dont know what volume of purchases your making, but i think LE and the bank as more important things to worry about.
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It's over the 500 mark, but as you both say it's perfectly legal to buy BTC, so I guess I'll be fine. Just wanted to make sure
thanks for the input :)
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Yeah UK based as well. As Valpal said it's in such small amounts in the grand scheme of things you would have to be extremely unlucky to get flagged for anything. So yeah be cautious, use your head and you should be fine.
Over 500 really isn't that much if you think about it.