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[Serious] It's sad that in 2023 KYC has become the norm everywhere and you cannot buy any crypto anonymously.

All Cryptocurrencies

by COINS NEWS 79 Views

From exchanges to p2p sellers, everyone needs KYC.

You might ask why you would not want to KYC if you have nothing to hide. There are many reasons.

For example:

-You do not trust CEX's . Once they have your data they are free to do whatever they may want with it. Store it for as long as they want. Think about that, your most important personal information held forever in some company's data center.

-CEX's can be hacked at any time and any data you had there sold to malicious actors. These shady individuals then do with that data whatever they please.

-If your crypto is connected to you personally , in many countries , you are basically unable to use crypto in a meaningful way as any crypto swap can be considered a taxable event.

-If you decide to go the other way and buy through a supposed kyc-free site you still have to trust the seller with your personal information which looks even more dangerous than an exchange having it. Also, what if that seller is connected to a criminal enterprise? You just sent money to his bank account, forever linking it to yours.

The only way I see how someone just getting started with crypto can buy their crypto with some degree of anonymity is to buy some USDT through an exchange ( accepting all the negatives that come with that) , send that USDT to a non-kyc exchange and buy a privacy focused crypto and still this is hardly a solution.

We live in a world where privacy is starting to become just a word, constant surveillance is becoming the norm, our data bought and sold without our permission and technologies like CBDC's almost complete. Is this the future we want?

submitted by /u/Styl_Ianos_
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