this post was submitted on 22 Aug 2024
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Ex-bank CEO gets 24 years after falling for crypto scam, causing bank collapse (arstechnica.com)
submitted 4 months ago by [email protected] to c/technology
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[–] [email protected] 2 points 4 months ago (1 children)

Yea, but the bank still has a different usecase, and is treated as untrusted. KYC matters to me because a) one more place can leak my very sensitive documents; b) these exchanges can ban me or deny me entry because of my citizenship; c) crypto here is a gray area and having a legal record of me purchasing it might bite me later, even if it is unlikely.

But true, it can work. Especially for businesses.

[–] [email protected] 2 points 4 months ago (1 children)

Yeah, just be careful. I personally would prefer to buy in-person with cash in that case.

[–] [email protected] 1 points 4 months ago

I do just that)