So I've never used any coin join and always complied with KYC on exchanges, obviously. I've always wanted to coin join to maintain privacy but never had the guts to do it, fearing that I might be flagged as suspicious next time I used an exchange.
So I wanted to know from people that actually coin join, what is your experience? Does it create problems when interacting with exchanges?
1 sat \ 1 reply \ @purpurato 11 Nov 2022
First of all, don't use KYC exchanges, your privacy is completely lost, and after what happened with FTX, BlockFi, Celsius... You're blowing not only your privacy but also risking complete loss of your coins.
There are several alternatives for that, my recommendations are these:
- Bisq
- Lnp2pbot
- Robosats
- Hodlhodl
You must first get away from KYC and only after try more sophisticated privacy settings.
Not your keys not your cheese
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0 sats \ 0 replies \ @newnym OP 11 Nov 2022
I didn't consider P2P alternatives because I'm located in Brazil, and as such would buy BTC using local currency for which the liquidity is very poor in all P2P platforms. Besides, if I understand correctly, I don't really have a way to not reveal my identity (banking info) to the seller of the bitcoins on those platforms.
But don't worry, I never leave btc on exchanges. ;)
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0 sats \ 0 replies \ @Derpitor 11 Nov 2022
Simple coinjoin would be to use wasabi 2.0. Some people have complained about some of the privacy effectiveness of it but it's about as plug and play as you can get as the default will automatically setup a coinjoin.
I've used it for a bit but I don't interact with KYC exchanges but most should be fine in today's world. Who knows about tomorrow after seeing what they did with tornado cash......
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0 sats \ 0 replies \ @sommerfeld 11 Nov 2022
I already buy non-kyc bitcoin and only intend to spend it on lightning. I currently see no need to coinjoin. Can always do it later if deemed necessary.
I wouldn't worry about regulated exchanges not accepting your conjoined sats. It's their loss.
You can (and should) always sell them for a premium at p2p non-kyc exchanges.
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