Do you think privacy is important for a beginner?

[avp2306]

So, I created thread to see what everyone thinks about privacy.

Normal people need privacy, whatever it is, our real life and cryptocurrency.

but I feel it's difficult to implement if all things still need KYC. Everything in this world still needs fiat to exchange our necessities, just a few needs we can exchange with Bitcoin. So that situation, we still need fiat where we can't get it on DEX. According whit this, I often see people who buy KYC and bank accounts just to hide their real identity to register CEX.

About beginners, I rarely see them care about privacy. I know that because I see them in droves registered in CEX just to buy and sell crypto with fiat.

Privacy is sometimes underrated, especially for beginners who care less about it as long as they can satisfy their own greed. But when CEX made them start losing, that’s when they realized that privacy is still crucial and we should still keep and prioritize our privacy first more than any matters. However, with KYC, it’s a different story. Giving your KYC does not mean disclosing everything about you. You are just giving some of your personal information, and it’s up to you if you’ll give your real identity details or provide a fake one but always be ready for its consequences later.

They are prone for manipulation and doesn't know about the risk since there mind is full of expectation about possible big profits they can get from the investment they get or those airdrop which requires KYC without realizing the risk. Later on once hacking issues will be experience by them for sure for second time around they will be more careful on giving to any platform they want to go or trying to look after especially on investment and other things they see online.

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[sokani]

I believe no matter how hard we try we cannot be %100 in control of our personal data. Lets take for example the CCTV camera that are positioned at strategic locations at banks, shopping malls, hotels, hospitals etc. Some are even hidden that you cannot see them, they take pictures and records of your every movement. When we open bank account we are required to give out our information, when we install some apps on our phones, we give out our contact, location etc. Another tool is CBDC, which is just another version of fiat that's still being controlled by the government, it can be tracked and frozen anytime. It is just impossible to avoid prying eyes. Cryptocurrency like bitcoin can help one to achieve privacy if used properly such as trading on DEX, frequently changing addresses, using mixers and anonymous browser.

[Odohu]

If you don't take privacy serious as a biggjnner, you will later regret when you become a pro. As a matter of fact, privacy and security are the very first things every beginner should learn if they must survive the digital space at large.

Check and see how much big techs spend in privacy protection of the data of their users. This will tell you the importance of privacy.

So yes everyone need to take their privacy seriously. Don't grant permission to every applications especially those you don't trust.

[_BlackStar]

I believe no matter how hard we try we cannot be %100 in control of our personal data. Lets take for example the CCTV camera that are positioned at strategic locations at banks, shopping malls, hotels, hospitals etc. Some are even hidden that you cannot see them, they take pictures and records of your every movement. When we open bank account we are required to give out our information, when we install some apps on our phones, we give out our contact, location etc.

I agree with you - privacy is not 100% secure. But maintaining privacy as a crypto user doesn't require you to achieve 100% security. This means you need to maintain the financial privacy of your wallet - don't share balance ownership on social media and don't use centralized services. This is supposed to keep you safe from a financial privacy perspective in the crypto space - but you are never safe from tracking from the government whose services you use such as banks.

Even Google can track and log any activity we do - so some safeguards and precautions need to be taken to prevent users from doing silly things that compromise their financial privacy.

[Viscore]

Privacy will always play an important role for everyone of us, regardless if we are newbies or pros in the trading market. It’s just that beginners at some point prefer to easily disclose their private information as long as there is promising profits being at stake. However, I’m not saying it in general since there are still few of the newbies who are still reluctant to provide KYC or not easily give their personal information even if there are promised profits ahead. And I think it’s good to know seeing not all of them are into greed or into selfish desires. Giving some of your private information is not bad, but always do it with caution.

[SatoPrincess]

Privacy is not something that comes to a newbie’s mind when he comes into this space. I will use myself as an example, when I first heard about bitcoin, my thinking was focused on ways I could earn more money so I can afford to buy bitcoins, privacy was not a major concern of mine so when I was ready to buy my first bitcoins I didn’t mind about kyc or centralized exchanges. I only learnt the importance of using dex and keeping one’s coins unlinked to their identity.

[Y3shot]

Privacy is a big and debated topic nowadays, especially for things like bitcoin and digital tech. It's about people having the power to control their personal info, who collects it, how it's used, and how it's kept safe. But when it comes to bitcoin and stuff, privacy isn't easy. There are lots of problems and choices to make, like legal stuff, what's right, how people feel, and the tech side of things.

Security is the first aspect of bitcoin beginners needs focus on and learn about . No matter how risky the exchange wallet maybe most people still use it to trade their bitcoin and other crypto, their are lots of things happening in exchange and beginner that doesn't have idea about exchange can fall into the hands of wrong trader . Having  knowledge on security and how scammers operates should be what beginners must take very serious to know,  because their is no need having bitcoin without knowing security and how scam operates.

[Ziskinberg]

Privacy is not something that comes to a newbie’s mind when he comes into this space. I will use myself as an example, when I first heard about bitcoin, my thinking was focused on ways I could earn more money so I can afford to buy bitcoins, privacy was not a major concern of mine so when I was ready to buy my first bitcoins I didn’t mind about kyc or centralized exchanges. I only learnt the importance of using dex and keeping one’s coins unlinked to their identity.

And even for old-timers, privacy doesn't really matter but what matters the most is how to earn money from crypto. In fact, exchanges now are asking for KYC, the more it leads to losing our privacy totally. I could say that if we are looking for privacy, it is hard to find it here in the crypto space. For me, privacy is just an option but taking for granted that exchanges are requiring us users to submit our personal identification, I don't know if we still need to think about it but rather prepare to lose it soon.

[Bitcoin_people]

Privacy is most important to a person, whether it is about himself or others, privacy always serves a person to hide his important things. For example, if we transfer a large amount of money from a bank, there is no privacy, but the bank officials can identify where the money has gone and what it has spent on. But when we use bitcoin digital currency no one can catch this transaction doing a work with complete privacy. We have seen that most of the people use bitcoins for their black money or money laundering to keep their identity hidden so that people can't know and catch their transactions. In that case, if we do any kind of transaction, if we have privacy, it is of the utmost importance to us. It's true that there are many people who don't think about their privacy as a whole, they always think positively about it. But in our society and daily life of course privacy is needed in all areas where keeping oneself secret is most important for one's own safety and well being.

[aysg76]

I would say not only for beginners but for all especially when we are dealing in digital currencies which are more prone to hacks as we can easily compromise our privacy unintentionally so need to be extra careful.In bitcoin world privacy is what makes it more important and the more we adapt to it more safety of our funds.You sign up on exchanges and give them their details or exposing your seeds to someone else would easily get you loose control of your wallets and funds in them.There are some extreme and basic security measures on which we should focus but for many privacy is just a normal thing and they have different means for it.

[JunaidAzizi]

So, I created thread to see what everyone thinks about privacy.

In today's world, it is impossible for any person to hide yourself or protect their privacy. Many organizations take our data and use it without our knowledge. Everywhere is now a camera that looks eyes on us and saves every movement of us. If a person wants to look at us then he could do this even from another continent through hackers. In the case of Bitcoin, it is designed to be anonymous. But their anonymity is not absolute as your transaction is saved in the public ledger and every person can track you easily through this. So privacy is more important in our life and we have to do something about this. In the case of Bitcoin use a mixer and VPN which would make it difficult for others to track you.

[Coyster]

But their anonymity is not absolute as your transaction is saved in the public ledger and every person can track you easily through this. 

Mind you that it isn't easy for just any person to track you using the blockchain, yes the government and blockchain analysis corporations might be able to track you because they collect/request data/KYC from centralized exchanges and other custodial services that the person's coins have touched, but it is impossible for just anyone to get/request this data, so it is practically easy to hide from "ordinary" persons.

[TelolettOm]

Privacy will always play an important role for everyone of us, regardless if we are newbies or pros in the trading market. It’s just that beginners at some point prefer to easily disclose their private information as long as there is promising profits being at stake. However, I’m not saying it in general since there are still few of the newbies who are still reluctant to provide KYC or not easily give their personal information even if there are promised profits ahead. And I think it’s good to know seeing not all of them are into greed or into selfish desires.

Agree. Privacy is necessary whether we are newbies or pros. Private information shouldn't be easy to share although we may get benefits by sharing it. Everyone must know the issue that private data can be sold on the black market. It is not only newbie data, the data of experienced people can be sold as well.  So, everyone must take attention for their private data / private information. As long as it is not very urgent, never share the data for any purpose.

Sure, not all newbies easily share their private data/information. The newbies who understand how important their private data and care about it, they won't share it to anyone whatever the reason is. Yep, even there are newbies who don't want to join CEX because most CEX require KYC. KYC procedure is the hardest thing, it requires to share private data.

Giving some of your private information is not bad, but always do it with caution.

Sharing a little, some, or all of data will be always risky. It is not recommended to do whatever the reason is. Unless it is for trusted thing, never try to share private data to anyone.

[Gallar]

Re: Do you think privacy is important for a beginner?

It's definitely very important. Because privacy does not need to look at beginners or seniors, but privacy is within the scope of all people and all levels, especially in the field of crypto investment, what is certain is that privacy is very important to maintain. Because when we start to join in investing or trading cryptocurrencies. We definitely have to always secure the assets we have so that they are always safe and always maintained. So it is only natural that all investors in crypto must maintain their own privacy.

And this includes beginners too. Because even though they are beginners, there are quite a few who already have a lot of crypto assets. That's why privacy is very mandatory to maintain, even for beginners. In fact, in my personal opinion, it is beginners who should protect their privacy more, because beginners in crypto are more vulnerable to fraud, which can result in their identity being hacked by these fraudsters. So in conclusion, what is called privacy cannot be underestimated or only has to be guarded by some people. Because basically privacy in the crypto realm is very important, because it contains very important information, such as assets.
So investors in crypto, whether senior or beginner, must be more careful in choosing an exchange and wallet to store crypto assets.

[Pingrapole]

Yes I think privacy is a very important factor that helps you build success. Sometimes it becomes very difficult to maintain privacy, but there are some basic things that must be kept private should be protected.But as privacy is important in all important business especially in Bitcoin it is very difficult to protect privacy, but it must be protected.Nothing is private to you and I. There are things about others that we can't keep private even if we want to keep them private.There are many stealth systems available today that can make you 90% if not 100% stealthy To protect privacy we use many elements like glasses etc. With VPN, we protect privacy, and you should protect privacy in case of investment or Bitcoin because many countries are using VPN Bitcoin is very important to protect .Privacy is very important when it comes to Bitcoin investment.Because it is illegal to use Bitcoin in many countries, it is very difficult to work in Bitcoin in those countries Then the secret of Bitcoin is trust because if not, it will be banned, harassed, tortured by the police, etc.It is up to you whether you keep the privacy, but there are some things which you cannot keep confidential like data management in these cases you have to depend on the latter because at any time
Finally, the best thing you can do is to try different elements that you don't have, and that you can protect by different means If you are not a victim, you will be in danger and those who are with you will continue, so it is very important for beginners to protect privacy. Newbies should train themselves to protect privacy by taking advice from elders in forums.