The Value of P2P Bitcoin Exchanges – Bitcoin Magazine

This is Okada’s opinion editor, a mechanical engineer and contributor to the RoboSats bitcoin exchange.

Buying your first bitcoin has changed dramatically since the early days of trading on forums or Internet Relay Chat (IRC). Big exchanges have sprung up and today they have perfected the art of attracting newcomers by obfuscating the buying experience with flawless and frankly mind-blowing user interfaces.

Over time, regulators have pressured exchanges to collect users’ data to verify their personal credentials. Exchanges like this – we’ll call them “verification” exchanges (VEX) – protect your funds and have tools at their disposal to track your funds linked to your identity on the chain. The reader should already be aware of the benefits of self-monitoring, a topic worthy of its own detailed study.

Source link