Know Your Customer vs Anonymity


I’m new to crypto and wanted to get started buying some coins. I have my hard wallets but wanted to get some feedback. I notice there are 2 streams of thought when it comes to the space. KYC seems to be a big part of the emerging market place, but there are those who feel that staying financially anonymous is a huge selling feature of the space. Thoughts?

Great Topic…
Recent world events seem to be the catalyst to bring crypto mainstream, in doing so, have to take note of regulations and adaptation will require less anonymity. Government control is needed to instill public trust and to push out to the masses creating more and a larger customer base.

I believe there is some inherent anonymity with crypto, however, total anonymity will still be desirable but will (in my opinion) become very niche w/an association w/criminal activity.

@MSeeman…Thanks for your thoughts. I guess one must balance the mass adoption of cryptocurrency with the measured relinquishing of a level of anonymity.

Any thoughts on best places to buy crypto these days? I hear Binance is popular…where are they located in the world?

KYC and AML (Anti-Money Laundering) regulation are unavoidable when dealing with centralized exchanges, especially those located in North America, UK, and many countries in Europe as they are forced to comply with regulations to operate in their country.

If you’re interested in privacy I suggest taking the Cryptography & Privacy Coins course in the academy.

Yes, Binance is one of the top exchanges for alt coins. They have limited support for fiat currency though, so it’s best if you have BTC, ETH, or stablecoins already and use those. I believe Binance is headquarted in Malta.

Kracken is another popular recommendation, especially if you live in Europe as they’re based in London.

@Mayjer -Thanks very much for connecting…It’s appreciated. I will look into the Cryptography and Privacy coins course. Happy to see so much info in the Academy.

I feel it is an issue that will come to a head once main stream adoption of Blockchain and Crypto currencies occur. Anonymity vs Conformity…that is the question.