Hey guys, forgive me for asking a beginner question but this is something that has been on my mind for some time.
Hey Op, there is no point of felling that guilty conscience with this question. Perhaps I viewed your profile and noticed you are an obvious newbie who just registered in the forum today.
First you are welcome and again, no one knows it all here so, any questions either primaries/secondaries, basics or technical questions cns be asked by anyone here along it concerns bitcoin or the crypto space. So, feel free to express yourself but don't be here for nothing.
Good luck.
People always talk about freedom and decentralization when it comes to Bitcoin or crypto in general. I hear that a lot and I get that it's a big part of the appeal. But from my noob perspective I’m a bit confused. How is it really free and decentralized if most exchanges or brokers ask for your real lnfo like some kind of official lD or documents just to get some Bitcoin?
Let me be specific using bitcoin to clear the ground because it laid the foundation of financial decentralization (cryptocurrencies).
So on the emphasis, bitcoin or cryptocurrencies is decentralized in the sense that it ecosystem is in the horizon of a blockchain which does not require authorities or third parties before transactions can be done.
User are also entitled to stay anonymous with their holdings if only you are operating/transacting within the decentralized networks such as non custodial platforms.
The exchange you talk about where Kyc is required are centralized and being regulated my am entity or government. When associating to buy or holding your assets with them, you are apparently anonymously send self custodially limited with your funds because specific informations will be taken from you before you can access or make use of specific features in the exchange and also, not having an absolute privacy with your funds on the centralized exchange platforms.