Quote from: Rengga Jati on July 25, 2020, 10:22:38 PM

Quote from: peterpan2k on July 25, 2020, 01:13:30 AM

Hey guys/gals, maybe I'm too dumb to understand how BC really works, but I just signed-up on a BC site and before I can purchase a few coins, I was asked for all my REAL information, including last 4 of my SS#, address, and even a bank account to link my BC account to!

Hello mate, actually you use the centralized exchange. well, in the centralized exchange, you commonly will be asked for your details proven by the ID data, card, and also all of the information needed. It is called as KYC and AML. This has been common in the big exchange, they will ask this kind of information. Actually commonly the exchange wil ensure that the data are safe and private enough so nobody can see your detailed information. but when you are doing any kind of transactions especially trading, other people will not know who you are. They are also no care about whom they are trading. they only sell and buy on the market so nobody cares about the identity.

Actually, there is a way or exchange that needs no KYC or AML. they are commonly called as decentralized exchange. COmmonly you have to sign up with certain email and confirm very simple data and also 2FA. In this case, you can use any kinds of email and also personal data. howver, many decentralized exchanges are not trusted enough. So, you must eb more careful when choosing them.

Decentralized exchange is what you need in order for you to buy bitcoin without uploading or giving your identity but there is also a negative of using it because not all of decentralized exchange are legit and many of them have hacked before. I prefer to use centralized exchange like Binance and Bittrex even though there is a KYC that is really required but I make sure first that the centralized exchange that I will use is legit and it has a high security to guarantee that my identity and my funds are in safe hands.