Convenience wins over security and privacy. Only small part of users keep their privacy in mind.
What's the mistake I'm talking about?
Going trough KYC.
~ short for Know Your Costumer
It's the process of uploading photo of your drivers license/passport/ID when you're buying crypto on Centralized exchange.
Exchanges demand to comply with Anti Money Laundering laws.
Which exchanges are centralized?
For example Coinbase, Binance, Gemini, Kraken and others.
You might ask, what's the problem with this?
You've just connected your identity with crypto that is supposed to be pseudonymous or anonymous.
What can happen next?
If the exchange records leak, it will be clear: • who you're • how much Bitcoin to you have • possibly where you live
Even if only the name leaks, it won't be hard to find your address.
You think it's impossible?
Below is list of other known physical bitcoin attacks.
Not all attacks are connected with KYC leaks.
There are another things you need to be careful about:
• Social media posts about Bitcoin
• Discussing Bitcoin in public places
• Attending Meetups and conferences
You can learn more about protecting yourself in this article:
And how to avoid KYC right away?
It's simple.
Get your Bitcoin the nonKYC way.
How?
• ATMs
• Meetups
• Exchanges like PeachBitcoin, RoboSats, Bisq and Vexl
• Home mining
Solidus
That'll be all.
Keep privacy in mind when handling Bitcoin.
Nobody will give you your Bitcoin, health or even life back.
Be Sovereign.
Not only Online.
Marconius Solidu
Original tweet and adapted: https://x.com/M_Solidus/status/1810997595717734702