Still burning about my Australian bank suddenly holding and cancelling deposits to crypto exchanges.
Spent the morning emailing other banks (a limited list in the post-GFC world) and every single one now has the same vague stance.
Still burning about my Australian bank suddenly holding and cancelling deposits to crypto exchanges.
Spent the morning emailing other banks (a limited list in the post-GFC world) and every single one now has the same vague stance.
It seems like Australia wants to fight the US for most likely to totally fuck up the crypto opportunity and drive it out of country.
I'm embarrassed.
Oh darn. That doesn't sound good.
Just pushes people like me into offshore, unregulated exchanges.
Not cool for the banks to do that. They're shutting off opportunities for their clients.
That's why I use decentralized exchanges. Centralized systems are simply broken. Sorry you're going through this mess, though.
Don't you still need a fiat > crypto on/off ramp to use a DEX?
What do you use?
I use Bisq, so that the actual cryptocurrency transactions are not detectable. Only the two parties are aware that the exchange takes place. It's been perfectly effective so far due to the escrow feature.
Oh wow, I had no idea this existed.
Well this completely solves my problem.
Cheers :)
Gladly! Right now it's only optimized for Bitcoin and one other obscure crypto. You also need to have a bit of Bitcoin available (ideally ~$75 worth), but that's easily obtainable by converting via Hive engine since you're here.
you can go to the P2P market or open an account in a US bank.
I recommeded
qvapay.com
I mostly use DEXs to trade, but those regulated Australian CEXs were just an easy on/off ramp between AUD and crypto.
Super frustrating that it just drives me offshore.
This ban does the opposite of what its supposed to do (protect me!)
good luck, I’m concerned these problems will only continue to grow for many
After getting the same generic answers from every bank I messaged, I think I've finally found someone (ING Bank) that seems to not be worried about crypto.
Will be closing my old account and making the change asap.
Yikes Australia.
What the heck are you doing?!
They are full of shit. Yeah protecting you from scams.
So I'm not sure what to do now.
Not like I can close my current bank account, because there is literally nowhere else I can go...
Oh damn that really sucks... Why the fuck should they have the power to choose where you transfer YOUR money to? wtf
I don't know.
Seems like common sense to me that they shouldn't have that power?
Yet it seems they do.