You cannot "undo" the identity verification process!
If you want complete privacy in regards to how much you own, don't buy on an exchange that records this information. Mixing coins doesn't change the institution's record-keeping of how much BTC you've withdrawn from them.
You are absolutely correct, my friend. Once you have gone through the identity verification process on an exchange or other platform, there is no way to "undo" it and erase that information from their records.
That is why it is so important for people to carefully consider their options when choosing where to buy or trade Bitcoin. Exchanges that require extensive personal information and maintain detailed records of user activity may not be the best choice for those who value privacy and security.
While services like coin mixing can help obfuscate transaction histories, they do not change the fact that exchanges will still have a record of how much BTC has been withdrawn from them by a particular user. For this reason, it may be wise to seek out alternative trading platforms which prioritize privacy and anonymity wherever possible.
Thank you for sharing your thoughts on this important issue with me, my friend. Let us continue working towards building a more secure and decentralized future for all.
I'm currently using a custodial wallet to recieve sats and then immediately send to cold storage paying a hefty fee. Is there a better solution using only a cellphone?
At some point when you send to cold storage (on chain) from buying sats on RoboSats (Lightning), you will have to swap out and incur on chain fee (and whatever swap service you use).
Using only cellphone, a good setup would be the RoboSats app, Blixt wallet for Lightning, and then using RoboSats to swap out at low fees or use another swap service provider with low fees like swap.diamond hands.technology to send your funds to cold storage. There are other wallets that users have reported success with, like Phoenix wallet and OBW to name a couple
