Cryptocurrency is the only accessible donation method for many people.
Bank transfers, credit cards and Paypal exclude millions of people who don’t have government ID (e.g. the state refuses to print ID for them) and pseudonymous donations aren’t possible (many people need pseudonymity for safety or privacy reasons). In many countries, money orders, cash deposits and Visa gift cards also require ID, even for low amounts like $25. Cash by mail is rarely accepted as a donation method.
In comparison, Bitcoin and Monero don’t require government ID. It’s possible to buy cryptocurrencies with cash or gift cards or earn them via remote work. Cryptocurrency uses pseudonymous private keys, not state-assigned identities, as proof of ownership and is therefore accessible to everyone who owns or can borrow a computer or smartphone.
I don’t know about where you are, but at least in Australia, there is no legal way to acquire cryptocurrency without handing over government ID, in my case both a driver’s license, passport, along with a photo of myself. Sure, there’s decentralised exchanges, but that’s a risky move for most people.
There are many ways to buy Bitcoin/Monero without ID (e.g. I work remotely for crypto and exchange to cash to pay for food and rent, since I can’t get a bank account). Cash in person/cash by mail (LocalMonero.co, Bisq.network, HodlHodl.com), Bitcoin ATMs (CoinATMRadar.com), vouchers (Azte.co), gift cards (Redeeem.com), jobs (Microlancer.io, Reddit.com/r/MoneroMarket) or local tech/libertarian/crypto meetups are some options.
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requires regulated entities to collect information to establish a customer’s identity, monitor transactional activity, and report to AUSTRAC transactions or activity that is suspicious or involves large amounts of cash over $10,000.
I commented on decentralized exchanges like BISQ and how it can be risky. I wouldn’t be surprised if my bank froze/shut down my account if they learned I was buying cryptocurrency peer-to-peer.
While happy to be proven wrong, I don’t think it’s possible here.
Cryptocurrency is the only accessible donation method for many people.
Bank transfers, credit cards and Paypal exclude millions of people who don’t have government ID (e.g. the state refuses to print ID for them) and pseudonymous donations aren’t possible (many people need pseudonymity for safety or privacy reasons). In many countries, money orders, cash deposits and Visa gift cards also require ID, even for low amounts like $25. Cash by mail is rarely accepted as a donation method.
In comparison, Bitcoin and Monero don’t require government ID. It’s possible to buy cryptocurrencies with cash or gift cards or earn them via remote work. Cryptocurrency uses pseudonymous private keys, not state-assigned identities, as proof of ownership and is therefore accessible to everyone who owns or can borrow a computer or smartphone.
Only accepting KYC’ed fiat payment methods is anti-privacy and financially exclusionary. I commented on this here: https://meta.wikimedia.org/wiki/Requests_for_comment/Stop_accepting_cryptocurrency_donations and here: https://anarkiocrypto.medium.com/why-the-states-monopoly-on-identity-is-more-dangerous-than-google-facebook-and-microsoft-4ce415793d7e/
I don’t know about where you are, but at least in Australia, there is no legal way to acquire cryptocurrency without handing over government ID, in my case both a driver’s license, passport, along with a photo of myself. Sure, there’s decentralised exchanges, but that’s a risky move for most people.
from an exchanger how about private transcations?
Could you elaborate? I’m not very knowledgeable about cryptocurrency.
There are many ways to buy Bitcoin/Monero without ID (e.g. I work remotely for crypto and exchange to cash to pay for food and rent, since I can’t get a bank account). Cash in person/cash by mail (LocalMonero.co, Bisq.network, HodlHodl.com), Bitcoin ATMs (CoinATMRadar.com), vouchers (Azte.co), gift cards (Redeeem.com), jobs (Microlancer.io, Reddit.com/r/MoneroMarket) or local tech/libertarian/crypto meetups are some options.
Bitcoin ATMs in Australia (I believe) fall under AML/CTF laws which require them to register and comply with regulation that compels them to establish a customer’s identity:
I commented on decentralized exchanges like BISQ and how it can be risky. I wouldn’t be surprised if my bank froze/shut down my account if they learned I was buying cryptocurrency peer-to-peer.
While happy to be proven wrong, I don’t think it’s possible here.