Hey, I am considering buying monero as a failsafe if I ever happen to get into an authoritarian country. I am considering buying it from localmonero since I don't want to get KYC'd. How much of a risk is it to buy moneros directly via bank transaction? Would I (as a client) be in trouble for sending money to a seller? Do I need to justify my

payment to the government(s)? Would I be considered suspicious?

First question: A bank transaction can be reverted. A Monero one cannot (unless very quickly and with the help of a lot of hashrate). Second question: if your bank is an asshole, you might. Some banks don't like the competition. Third question: some governments are assholes, but typically they want justification when you sell them back.

So it's a lot of "it depends" really.

For P2P trades, it really depends on who you're sending money to. If they're some crook, you'll be in trouble, but that's not really monero related.

Damn, that sucks. Would it be more safe to just say fuck it and buy from KYC exchange? It might appear less suspicious then?

Depends what you call "safe". If it's "won't get scammed", then something like kraken will be as safe as you're going to get short of atomic swaps.

If it's more "my govt is china and i'll get brought in for tea if they know i buy monero", then... not sure tbh.

yeah I meant kind of the second definition. shrugs

What do you think would be the best anonymous way to exchange fiat for monero?

If your horizon for getting some monero isn't super long, you might consider getting bitcoin now, then atomic swap later when it's available.

I'm sorry, I do not understand what atomic swap is.

s/super long/super short/

Atomic swaps are a way to exchange a cryptocurrency for another in a way that nobody has to trust the other not to scam the other.

Would atomic swap from btc to xmr be tracable to me if my bitcoin wallet is linkable to me?

Hmm. Again, I'm afraid it depends. If you'd swap with a known bitcoin/monero swapper, then I suppose it'd be.

If you don't, then no.

Though it does depend on the degree of spying your govt employs. If it's China, they MITM pretty much everyhing AIUI so you'd be hard pressed to do anything anonymously.

Fuck china. Thanks for the info! Gotta do more reading into this.

"Western" govts are usually more interested in blacklists and tax, so as long as you don't trade with a blacklisted and keep records for when you sell so you can pay tax, they should not annoy you too much.

Do you care about being flagged as using atomic swap? Because after that monero is untracable, send it to yourself once before spending

If you're in a western type govt and are preparing for being in a more china like govt, then you might be ok: you don't need that much privacy now, because china-or-similar won't see that data yet.

MajesticBank I feel like that would give away the same info as if I would directly buy from KYC.

If, however, you're concerned your govt might become more authoritarian, as opposed to you moving across borders or anohter govt invading, they'll still have all the data, so that might not be enough.

moneromooo Yeah, my situation is similar to that. I do not worry as of right now, but you never know what will hapen in the future.

Swap operators doesn't have to keep logs but you might end up in same pool with other BTC coins from swap which will most likely be flagged by coin tracing companies

Invasion can also have this issue, though typically you have bigger problems then.

One thing you might be able to do is sell stuff for monero. If you properly declare income, nobody will bother you about it. Probably only feasible for small amounts though, unless you start a business.

ie, get rid of electronics on ebay etc.

Better to do that when monero has crashed, whch it has. You get more monero for it.

Tbh, I am not sure what to do now. That stuff selling for monero is a good idea, but might be impractical in my case. I'm thinking of just using bankwire or cash in mail using a p2p exchange like localmonero.

Physical monero ATMs might also work. Some might not ask for papers please for smaller sums.

Only works in large cities though.

In any case, good luck with the authoritarian country thing.

thanks again for info!

What's brackin, my associates?