Post
Topic
Board Bitcoin Discussion
Re: Getting around KYC
by
tjtonmoy
on 24/05/2023, 18:38:17 UTC
And what do you think happens to your privacy when you sign up for a centralized exchange, hand over your real name, address, email address, phone number, complete KYC, upload scans of your passport and other documents, upload a photo of your face, let them track your every trade, every click, every page view, and then sell and share that data with a bunch of third parties? Roll Eyes
Well that's a concern too. But where your life is in question, I guess CEX are better than this. If you can find a good buyer who will buy from you face to face, then that's a good thing. But the chances are very low. You have to sell to one person or some cases 3–4 people whom you can trust. In Centralized exchange you can sell to random people and I don't think they can track you like what can be done in physical trades.
I am not saying that Centralized exchanges are any good. But when it comes to this, from POV I will choose CEX. It's a necessary evil. You win some you lose some.