Anonymity is one of the main advantages of the P2P Cryptocurrency exchange, however this important point for some can also be a challenge, especially when the platform does not ensure complete anonymity. In this article, the best practices for maintaining privacy and anonymity in P2P Cryptocurrency exchanges will be discussed and why not all platforms ensure 100% user anonymity.
The first thing that every user wants to avoid when entering an online platform is that their personal information is revealed, or at least when it comes to financial platforms. Nobody would like their economic and personal information to be visible to everyone, whether it is to maintain their safety or that of their family.
This is why Cryptocurrency trading platforms always seek to keep the data of their users as protected as possible and prevent their information from leaving said platform, however if it is necessary for a user to provide certain personal information to give guarantees that they do not is a malicious agent and is reported anywhere in the world for illegal economic activities.
Perhaps everyone already knows that when entering most P2P Crypto platforms it is necessary to carry out two processes before being part of said merchant community, these processes are “Registration and identity verification”, in the first we will have to give basic information such as an email or the creation of a password, on the contrary, in the second step the system will request slightly more personal information, such as the name and surname, the identity document number, country of residence, and the elaboration of a face test in real time.
And perhaps many will wonder, why is it necessary to give so much information? And it is very normal for them to be surprised, since this type of documentation is almost at the level of a bank procedure, however it is totally necessary, since with said information it is sought that a user can be anonymous within the platform without worrying that another user who is also anonymous can cheat you in a transaction.
This identity verification system serves as a wall or warning for those users who want to enter the platform with negative intentions.
Something that should be clear to all users of a P2P Cryptocurrency platform is that these platforms are not 100% anonymous, that is, it is not that they go around publishing user information, but rather, due to their nature, in the method of trading. There may be moments where information such as the user’s real name is revealed.
But perhaps many think that this is a bad thing and should not be allowed, however, this is done on purpose, and it is that in most, not to say, in all P2P markets, payments made by third parties are prohibited, because thanks to these, certain scam schemes can be carried out and no platform wants this to happen, which is why at the time of making a transaction some systems ask their users to register their payment information (bank account number, type of account, owner of the account) in this way both buyer and seller will be able to show that the payment was made by the user and not by a third party.
Let’s remember that despite the fact that it is shown that it is not 100% anonymous, not all payment methods require the name of the person, which is why there are platforms such as Ccoins, that allows the user to register a payment method and later verify that information, in this way it is not necessary that data such as the name of a user can be exposed.
At Ccoins we recommend all our users to make use of the following tips to maintain anonymity in our transactions or within the platform:
Let’s remember that although a P2P platform does not ensure 100% anonymity, it does have features that help its users to be anonymous almost 99% of the time, thanks to features such as “Aliases or Pseudonyms” or privacy policies, we can always be sure that other users do not know our true identity and thus maintain our privacy; Let’s also remember that although anonymity is an advantage within this type of platform, it is also a personal decision, since there are users whose highest priority is the privacy of their data and thanks to this, every detail must be clarified in a one-way transaction. P2P market.
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This is because in certain processes anonymity is set aside to make way for a more secure transaction, in this way transactions can be carried out with verified data but without giving sensitive information about some of the users.
The pseudonym or alias of a user on a P2P platform is a name that the user himself has invented to identify himself on said platform, in this way he can keep his real data anonymous.
Anonymity on a P2P platform is really important, keeping our real data as private as possible is an obligation, since trading or holding digital assets such as Cryptocurrencies as money is invested is better kept secret or low profile, this way we stay safe in real life.