ββ#Monero #Binance #Cryptoβ
π Binance gave up: saying goodbye to anonymity in crypto
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Cryptocurrency is becoming more accessible, but we are paying for it with the loss of financial freedom. Binance has joined the FATF Travel Rule, which requires transactions over $3000 to disclose the sender's name, address and other personal details.
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The legalization of crypto leaves fewer and fewer options to remain anonymous. Crypto police or fiscal officials can knock on your door (and your crypto wallet) at any time, and you will have to explain where you got your crypto and pay taxes on it. In addition, having received personal information, attackers may try to steal your crypto assets, in illegal and very undemocratic ways.
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The confirmed connection of personal data to specific crypto wallets makes it easy to block all assets, including bank accounts, for almost any reason. But is it possible to remain undetected in crypto today?
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If your goal is privacy, then you shouldn't use platforms licensed by regulators. If you are ready to take a risk, then you need DEX - a decentralized exchange where assets are traded using special smart contracts. For example: Uniswap, PancakeSwap, Orca, Curve, SushiSwap, Balancer and Raydium.
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Of course, the risk of losing funds is much higher, but DEX users can trade directly from their wallets without going through the KYC procedure. The main thing is that the exchange should support standard wallets, for example, MetaMask. Transactions in such a network will cost more - you will have to pay additional commissions.
Monero (XMR), Zcash (ZEC) and Dash (DASH) are recommended as tokens, and the problem of transferring them into fiat or more popular tokens is solved through P2P exchange services.
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But all these are temporary measures: digital money is becoming the norm of life and no one will allow it to remain outside the laws, including fiscal ones.
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What do you think?
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Profits to yβall!