490
this post was submitted on 22 Aug 2024
490 points (97.5% liked)
Technology
59651 readers
2643 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Sure, but so is your local bank. If your alternative is cash, Kraken is trusted just like your local bank is trusted. KYC honestly doesn't matter for most people, because the exchange cannot know what you're using the funds for, so the government/your bank will only know how much you've converted to crypto.
But yeah, if KYC is a deal-breaker, there are a lot of other options. But be careful, because this can open you up to scams, so only do this if you know what you're doing. That's why I recommend Kraken, it's easy for people to get into and it's safe.
Yea, but the bank still has a different usecase, and is treated as untrusted. KYC matters to me because a) one more place can leak my very sensitive documents; b) these exchanges can ban me or deny me entry because of my citizenship; c) crypto here is a gray area and having a legal record of me purchasing it might bite me later, even if it is unlikely.
But true, it can work. Especially for businesses.
Yeah, just be careful. I personally would prefer to buy in-person with cash in that case.
I do just that)