Mainstream Bitcoin Exchanges Have Obscured The Worth Of Personal, P2P Options

Read Time:9 Minute, 42 Second

2023-01-20 13:00:00

That is an opinion editorial by Okada, mechanical engineer and contributor to peer-to-peer bitcoin change RoboSats.

Shopping for your first bitcoin has dramatically modified because the early days of buying and selling on boards or Web Relay Chat (IRC). Giant exchanges sprung up and these days, they’ve perfected the artwork of attracting newbies by way of demystifying the shopping for expertise with seamless and, fairly frankly, senseless consumer interfaces.

Over time, regulators pressured exchanges into gathering customers’ knowledge to confirm their private credentials. Exchanges reminiscent of these — we’ll name them “verification” exchanges (VEXs) — have custody of your funds and have instruments at their disposal to trace your identity-linked funds on chain. The reader ought to already concentrate on the benefits of self custody, a subject worthy of its personal detailed exploration.



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