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Title: Peer-to-peer exchanges - first/last name question Post by: lunarlanding2021 on June 10, 2021, 01:59:37 PM I was looking at the sign-up procedure for the four non-KYC peer-to-peer exchanges below:
a) Bisq (BitSquare) b) Hodl Hodl c) LocalCoinSwap d) LocalBitcoins It would appear that only d) localbitcoins.com asks the following: 1) Enter your first names as they appear on your identity documentation. 2) Enter your last name as it appears on your identity documentation. If one of the main draws to using such exchanges is to prevent personal data being stolen in the event of a hack, I was wondering what thoughts are on this? Would you just stick to the first three exchanges due to this? ??? Title: Re: Peer-to-peer exchanges - first/last name question Post by: JeromeTash on June 10, 2021, 03:07:44 PM d) LocalBitcoins It would appear that only d) localbitcoins.com asks the following: 1) Enter your first names as they appear on your identity documentation. 2) Enter your last name as it appears on your identity documentation. If one of the main draws to using such exchanges is to prevent personal data being stolen in the event of a hack, I was wondering what thoughts are on this? Would you just stick to the first three exchanges due to this? ??? For your information, LocalBitcoins is no longer part of the non-KYC p2p exchanges. It should not even be in the list because you will have to first verify your account before you use their service (https://localbitcoins.com/blog/id-verification-update/) I would stick with the other 3 if I totally didn't want to get asked for KYC verification. Title: Re: Peer-to-peer exchanges - first/last name question Post by: lunarlanding2021 on June 10, 2021, 03:13:01 PM Thank you, I hadn't realised that.
Title: Re: Peer-to-peer exchanges - first/last name question Post by: dkbit98 on June 10, 2021, 05:28:48 PM Along with Bisq, Hodl Hodl and LocalCoinSwap there is also Localcryptos website that is not asking for any kyc verification, so you don't need to enter your name during registration.
Bisq is probably best decentralized exchange currently but it is not perfect for trading smaller amounts, and for that you can use other options. Title: Re: Peer-to-peer exchanges - first/last name question Post by: hugeblack on June 10, 2021, 08:12:54 PM LBC will ask you for KYC sooner or later so it is better to avoid it if you want to hide your ID.
The rest of the options are part of it decentralized and have enough users with low fees that you can use it. When entering the user name, it is not required to be your real name, and most of them encrypt private conversations, so no one can see them. Title: Re: Peer-to-peer exchanges - first/last name question Post by: o_e_l_e_o on June 12, 2021, 11:57:01 AM Would you just stick to the first three exchanges due to this? ??? Yes. I stopped using LocalBitcoins long ago precisely because they turned themselves in to a centralized exchange demanding KYC from all their users. If privacy is what you are looking for, then you must avoid LocalBitcoins.Bear in mind that some traders on P2P exchanges may still request personal details themselves, even if the platform does not. Sometimes this is necessary, for example if you are trying to sell bitcoin in return for a bank transfer or a money order, as the they need to know where to transfer the fiat or the money order must have your details on it for you to be able to receive it. It should only be the bare minimum amount of information in this case. Sometimes, however, traders will request your details and even copies of your ID as part of their security practices to try to reduce the risk of theft or scamming. Up to you whether you want to trade with such users, but I would suggest that giving random individuals your documents is even riskier than completing KYC at a major exchange. These users should be upfront about their requirements and therefore easy to avoid. |