Can you explain how it’s private when for example Strike is used as a payment method? Is it simply because the exchange doesn’t know what the payment is for?
Discussion
I don't know strike, but except for the person you buy bitcoin from, no one knows what that payment from Fiat was for.
That makes sense. I actually didn’t think about the person you buy the bitcoin from. So if a fiat payment is used, is there any personal information shared with the other party (e.g. first and last name)?
Correct, depending on the payment method some information is shared with the seller and vice versa but this is preferable to a centralized database where all your movements are so that they can be stolen or used by the government.
For sure. Thanks for taking the time. 🤙
Is it really preferable for a random person to knowy our full name when we transact? I have looked into all of them but never used P2P for that very reason. Here in Sweden the moment you know my real name you instantly find where I live and many other details... It's easy for a bad actor to lurk around these p2p platforms, especially in countries like Sweden that you Google a person's name and you instantly get 20 different websites with address, birthday, cars, social security number etc...
That risk is up to you to assess. I would rather have a random user have the data of a small transaction than not the government know all the data of my transactions and force you to pay taxes, but I don't live in Sweden.
On the other hand it is also about buying and selling without permission.
I would love to be able to do that. It has happened multiple times for bitcoiners to be attacked at their home here in Sweden , so small or big transactions you are telling some random person that you hold bitcoin...