Thanks for the quick reply man.
Am based here in the UK so will be buying with GBP. The only trouble is I don't want to go through the lengthy process of verifying my account (yes, I have no patience).
On the link you sent, all of them say they involve "Verification" stages, is this a law or just an ethical thing? What verification stages are we talking about as well?
Thanks again
The verification is what Amph just mentioned and if you want to buy bitcoins from trusted websites, they need this verification. You can buy BTC with cash as well via bitcoinmeetups. Check this:
www.coindesk.com/information/buy-bitcoin-uk/Thanks for the link, will check it out now
While there are no rules about identity within the bitcoin protocol, there are a lot of rules for using fiat currency that may apply. That is certainly true if you are using any kind of bank system, like a credit card. Once you have bitcoin then you can buy things online without handing over your identity / financial details to the vendor, card processor, NSA, and presumably the Chinese government.
After my third card replacement in a year from data breaches, I have cut the cord and ONLY use bitcoin online.
What situation would you have to be in to have your card voided?
So it is purely based on the vendor and not an actual legislative requirement?
It depends on your country. I don't know about the UK, but I know that the US has anti-money laundering laws and know-your-customer regulations that require id verification. If the exchange operates in the US, you can assume that these laws will be in play and you will have to go through the verification required by said laws.
Even though I havn't gone into much detail with the exact regulations and rules, the UK isn't far behind the US, I'm assuming
Aren't there mediums like
https://localbitcoins.com that don't require the identification? What do you guys think?
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