I have recently gained a reinvigorated interest in cryptocurrency due to Steam and Itch being forced to take down NSFW games from their store fronts. As a disclaimer, I don't like cryptocurrency for the meme coins or the NFTs. Crypto, at its core, is meant to be an anonymous, decentralized way for people to pay for things. For example, with USDC, you can send money to others without a central bank involved and without the volatility that comes with traditional cryptocurrencies like Bitcoin. If online storefronts did not rely so heavily on centralized payment processors like Visa and MasterCard, nobody would be able force storefronts to censor anything. Further, since crypto is decentralized, nobody can control what consumers purchase with it.
The catch is that most exchanges (Coinbase, Kraken, etc.) nowadays, at least in the United States, are required to collect identification when somebody purchases crypto with fiat currency (USD). It is basically impossible to buy any crypto online with a debit card or bank account without first proving who you are. This requirement is completely antithesis to what crypto is meant to do. Fraud would most certainly run rampant without these requirements, but the price is taking away privacy for something that was meant to be completely anonymous.
After learning about what was happening in the UK with the Online Privacy Act, I quickly decided to delete any of my non-essential accounts that had my identification linked to them. This included all of the financial apps I utilized, like PayPal and Venmo (also my bank account, but I can't get rid of that just yet of course). It also included Coinbase, which means I'm fresh out of ways to buy crypto. Every other avenue I've tried requires identification for you to be able to purchase crypto with a debit card. The only real way to do it, ironically, is with cold-hard cash, the most untraceable form of currency.
I haven't been able to test my theory yet, but Bitcoin ATMs seem to be the only way to actually buy crypto without providing identification. It makes sense - if you deposit cash, it's proof that you have the money. There is no need for further identification, just abhorrent fees that are likely meant to offset the cost of running the ATMs. In all honesty, if I have to pay a little extra to be able to have anonymous online currency, I'm fine with that. Theoretically, I can also have it deposited right into my Tangem account, which stores my wallet's private keys on a card. Before, I would have to accrue more fees to transfer it from Coinbase to Tangem.
Hopefully my ramblings have inspired you to give crypto a second chance. It is not just for tech bros and greedy folks looking for ways to grow their money - it is meant to be a way for the common person to evade the imposing presence of payment processors and centralized banks. Unfortunately, the reality of our digital landscape today is making that increasingly difficult.
Update
The one bitcoin ATM I was able to use also required identification. In the United States, it seems the government has tried its best to impost restrictions in order to prevent fraud. The only way to buy or sell cryptocurrency is to meet people online and perform direct transactions with them. The downside to that is scams. If you ever find yourself trying to sell or buy crypto online, make sure to read all the signs before sending any form currency to a stranger.