Topic: Do you care about your privacy when trading at all? (Read 146 times)

From what I've been reading recently, the government is starting to force KYC on a A LOT of exchanges recently. IDEX started to do it just recently, and it's a complete joke to be honest. A true DEX will never enforce any forms of KYC, so it's kind of laughable.

There is no doubt, that it's only getting worse - the statement from Trump on Twitter is actually proving my point - I believe the banksters are afraid of Bitcoin and crypto in general, and will try to do whatever they can to regulate the whole market.

Think about it for a moment, Bitcoin was created to go AGAINST the banks, it was meant to be PEER TO PEER transactions. These centralized exchanges we see operationg today stores a ton of your personal information, so if you don't plan on paying your taxes, they'll make you!

Honestly, I believe and hope decentralized exchanges are the future. I've been looking at a ton of them recently.
Tried Komodos Atomic DEX recently, and it works pretty well, even though the volume isn't the greatest, what bothers me though, is that it isn't instant. It uses atomic swaps, so you need to wait for your transaction to be confirmed on the network.

Then I looked into Stakenet, and it's Lightning DEX, this caught my interest since lightning transactions are near instant, and with close to 0 fees. The project is still pretty new, started in 2018, but they've come a long way already.

The cool thing about their setup, is that their DEX is ran by masternodes. The good thing about that, is that all the masternodes will host the chains of the coins on the network, this means you don't need to sync with the network before you start trading, nor do you need to register, or submit any personal info.

All the fees involved will be used to buy-back XSN and distribute it to the masternodes running the DEX, so it gives a great incentive, and a great use case for masternodes to run for once.

What do you guys think? I'll personally move all my trading to DEX's long term, as I don't plan to share my personal details everywhere, which are prone to exchange hacking etc.