Bitcoin, ransom-related challenges, globalization, facilities, and impact

[uchegod-21]

In many places, family members are being held hostage in exchange for Bitcoin ransom.
This is truly heartbreaking. 
 
Those involved in blockchain technology should not share it with anyone, especially relatives and friends.

Remember, it is an BTC asset and should be kept secure.

I believe it is not appropriate to trade my Bitcoin with someone in my own country when there are global trading opportunities. I also think it is not advisable to use an exchange based in my own country.

For example,
if I am in England, I should consider using an exchange outside of England.
Using an exchange in my own country can also be risky, as many exchanges are fraudulent (and even the owners may not be fully aware of this). They may collect personal information, connect with you directly, and potentially put you in danger.

Therefore, I believe it is safer to use a trusted exchange in another country rather than a well-known exchange in your own country.

Additionally, this helps maintain the global nature of the Bitcoin ecosystem.

I do not feel pleased with the idea of showing this level of fear while dealing with Bitcoin. Do not make it appear like people are being robbed only because they own some amount of bitcoins, anyone can be attacked whether they own some bitcoins or not. The important thing you will have to do is for you to live your normal life, but ensure your bitcoin transactions remain anonymous and your personal life remains private.

About using exchanges in your home country, know that no where is 100% safe, especially if it is not a decentralized exchange. Scammers operate everywhere, you shouldn't expect to feel too relaxed even if you use an exchange in other countries. Most importantly, avoid anything that links your true identity to your bitcoin transactions.

[Zaguru12]

About using exchanges in your home country, know that no where is 100% safe, especially if it is not a decentralized exchange. Scammers operate everywhere, you shouldn't expect to feel too relaxed even if you use an exchange in other countries. Most importantly, avoid anything that links your true identity to your bitcoin transactions.

I don’t even know how OP came to a conclusion that scammers are actually from his countries, yes robbers are from his country but they actually got the information of him having coins only if he actually was the one who exposed himself probably through the most recent means which is social media, so this doesn’t actually prevent anything even if you use exchange outside the your country of residence, the scammers can still come to you not physically like robbers. How many cases of phishing attacks have we had in the recent times, it’s simple keep your wallet and coins private

[Cryptohygenic]

In many places, family members are being held hostage in exchange for Bitcoin ransom.
This is truly heartbreaking. 
 
Those involved in blockchain technology should not share it with anyone, especially relatives and friends.

Remember, it is an BTC asset and should be kept secure.

For sure disposing your identity to the public or even wrong family members can put one to the risk getting in the trap of kidnap. Many had also thought that the insecurity risks investors or users may face in the system to the loose of funds is just about the wallets security management.
Haven exposed to the public with the  attraction of your portfolio can as well put you in danger.

[Darker45]

This is the reason why privacy is a right that must be strictly respected. Unfortunately, the government, the very institution that should enforce it, is the one violating it. They're the ones requiring their citizens to reveal their identities, contact numbers, locations, bank accounts, and other sensitive information to private companies whose staff couldn't even be fully trusted.

A trusted exchange based abroad but is operating in your country might have a local office and your personal data might still be accessible by their local staff.

[DireWolfM14]

While this is correct in general, DEX or P2P exchanges like Bisq do have some risks too.

I wouldn't go as far as to say it's risk free to use p2p exchanges, but the risks are significantly lower than a situation where your data was leaked by CEX.  If you data is leaked by a CEX, then you know it's going to end up the hands of criminals.  Hundreds, if not thousands of them.

When dealing with a p2p trade partner, you're only leaking selective data to one individual.  Using the US as an example, and assuming that everyone with a past felony conviction  is threat, that means 0.05% of your trade partners are likely to use your information for no-good.  Statistics also suggest that 70% are released felons are likely to repeat offenses.  One out of 20 to 25 trade partners posing a threat isn't comforting, but we have to consider other circumstances; the odds of someone with a past felony conviction using a p2p exchange and the nature of the original felony.  Nonetheless, comparing that to the certainty of knowing your data is the wrong hands due to CEX leak makes it the preferable risk, in my opinion.

In another thread, Zelle was recommended in this case, but it's not available everywhere.

Zell is okay, but it's only available in the US and only select banks (mostly the big ones we try to avoid, lol.)  There are some small regional banks that offer it, and even some Credit Unions, and it's catching on so more are coming on-line all the time.  As for personal data, you have to disclose your real name, and an email address or your phone number.  Certainly not a lot of data, but that could be enough if someone is diligent and wants to find you.  For someone like me with a unique name on this side of the pond, it might make it too easy. 

Keep your powder dry.

[CryptoHeadlineNews]

In many places, family members are being held hostage in exchange for Bitcoin ransom.
This is truly heartbreaking. 
 
Those involved in blockchain technology should not share it with anyone, especially relatives and friends.

Remember, it is an BTC asset and should be kept secure.

I believe it is not appropriate to trade my Bitcoin with someone in my own country when there are global trading opportunities. I also think it is not advisable to use an exchange based in my own country.

Trading Bitcoin physically is actually not good, as it pisses you into high risk if the person you just traded with is an arm robber, and that's why we have different crypto exchange where you can trade with someone even without knowing the person. But in a scenario whereby you wants to fully remain anonymous, using a decentralized crypto exchange where the need for KYC is not needed will keep you safe. An secondly, trading very large amount on a crypto exchange is not always advisable, as it might put many eyes on your account, if the exchange is not truly secure, and which is why it's always good to use an authentic and verified crypto exchange for all your trading.