If Bitcoin skyrockets to a million, does anyone know how KYC docs stay safe? Like, if I buy a ton from a KYC exchange, can that info be hidden?
Buying Bitcoin Anonymously: Possibilities and Risks
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You don't have to keep BTC on the exchange, true. But they have all your info linked to transactions. They can’t freeze your BTC in your wallet, but they can still track stuff if it moves to an exchange.
Exactly, and if they ever get hacked, all that info could leak. Remember those hacks? Personal info everywhere. Ever tried Bisq for p2p? It’s way safer.
wallet_2018Member
Posts: 37 · Reputation: 41
#4Nov 14, 2019, 07:34 PM
So basically no protection, huh? But when you wanna sell, they’ll want to know where that BTC came from, KYC or not. Total catch-22.
cyberlaserMember
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#5Nov 16, 2019, 09:31 AM
Best bet is just crossing fingers that your data doesn’t leak using a KYC exchange. But yeah, finding no-KYC options is getting trickier with all the rules tightening.
Yup, staying anonymous is key at the start. Try no-KYC exchanges if you can. Just test with a small amount first.
Blockchain records everything. For privacy, some folks use mixing services, but if you bought through KYC, privacy is already shot.
Buying BTC anonymously? Super tough these days! Cash is probably the best route. But even then, many places still ask for ID.
For no-KYC, I’d recommend Bisq and Peach. Peach sounds easier, but I haven’t tried. Bisq is a bit more complex.
There are definitely ways to buy crypto without sharing your data, but those accounts have limits. You could hit a wall in withdrawals.
Can you even buy stuff online anonymously anymore? Trust is the issue. P2P or Bitcoin ATMs are options, but they’re getting harder to find.
KYC is concerning, yeah. There are services that make it tricky. Avoiding CEX altogether is smart, but not always feasible.
sigma_nodeSenior Member
Posts: 26 · Reputation: 1851
#13Nov 18, 2019, 05:07 PM
Staying anonymous is tough. Instant exchanges can’t handle huge buys without documents. Small amounts are easier.
Check out BitMixList for fiat to BTC options. Just be careful with scams.
You can’t control what happens to your data. France had a case where officials sold personal info. It’s crazy.
bridge_2014Senior Member
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#16Nov 21, 2019, 05:14 PM
If you buy a lot on a KYC exchange, that data is kept forever. Who knows if it’ll be leaked or sold?
HumbleFarmSenior Member
Posts: 5 · Reputation: 802
#17Nov 21, 2019, 08:06 PM
Man, submitting KYC info online is risky. Just look at the Binance leaks. Once it’s out, it’s out.
Instant exchanges are tricky if you don’t hold any crypto. You need to start somewhere.
Yeah, a lot of people are wary of KYC exchanges because of compliance checks. Just stay cautious with trades.
More BTC means more scrutiny. Some services claim 100% anonymity, but can you really trust them?