Post
Topic
Board Bitcoin Discussion
Re: How many BTC users actually care about privacy?
by
leea-1334
on 21/09/2021, 09:56:16 UTC
Using a p2p exchange that requires KYC defeats the point of using p2p imo. If you want to avoid mass data collection then Binance and Coinbase should be the ones to avoid. You should be directly trading with another person with minimal data collection as possible because p2p is usually more expensive in fees then centralized exchanges. I only use p2p because there is no data collection usually I would recommend changing to a different platform and avoid giving your information up. I am not sure why Binance has one of the best reputations for exchanges because imo they have been one of the worst at handling compromised coins and have made mistakes which should not be happening for a exchange which holds millions of dollars worth of Bitcoin on their platform.

I do not really agree. People have been doing p2p for a long time, not just for Bitcoin, but for other currencies, simply so that they can set their own fees, and earn or buy/sell in between the spread of regular brokers.

P2P like Localbitcoin was really big and still so popular in some countries especially where I am because you are not looking exactly for anonymous people but actual people (besides if you do p2p you still see their name sometimes depending on your method anyway).