I wanted to try paying for Mullvad VPN using a private method (Monero). I created a wallet and went to an exchange (Kraken) to buy some XMR, but they want me to enter all my personal details upon registration. How does this make sense? Is there an exchange where I don’t have to provide personally identifying information?
They are bound by anti money laundering laws (AML) and are required to Know Your Customers (KYC).
https://support.kraken.com/hc/en-us/articles/know-your-customer-kyc-questionnaireYes it does compromise privacy because now when the exchange is asked who owns this wallet they have to hand your details to law enforcement.
Exchanges without KYC are getting rarer.
I avoid KYC exchanges at all cost. I am less concerned about law enforcement in this case and much more about leaks.
There are ways to get Monero without compromising your identity. I suggest looking or asking here: https://monero.town/c/monero
I mean, what do you expect?
Use P2P instead
I’m just learning about all this. Looks like P2P is what I want. Thanks
Offer a product/service on XMRBazaar, join the Get Your First XMR matrix room and then once you have at least 0.11XMR you can use Haveno
In America, you “have to” due to government regulation(IRS wants their cut of the tendies).
The only way you won’t have to provide PII is if you buy it from someone outside of the exchange ecosystem (from somebody face to face with cash or a gift card (note: Local Bitcoin has been gone for about a year now)). Exchanges have to comply with KYC (Know Your Customer) laws if they want to operate in the US, which is why they’re asking for PII.
That brings it’s own share of risks as well. Like getting scammed for example.
