Regretting Buying Bitcoin in KYC Mode? All Is Not Lost for Your Anonymity Thanks to CoinJoin Transactions.
Here's a closer look at this little-known method of restoring your anonymity.
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KYC or No-KYC, that's the question.
Occasionally, you see this 3-letter acronym appear in the Bitcoin world. KYC stands for Know Your Customer and refers to the policies that cryptocurrency exchange platforms must apply to obtain precise information on the identity of their customers.
This information is then transferred to governments, who can then know everything about the transactions carried out on these exchanges.
As a result, BTC units purchased on KYC platforms are not anonymous.
To remedy this problem, I'd like to tell you about a very interesting technique: CoinJoin.
CoinJoin is a process used to anonymize Bitcoin transactions, enabling users to send their BTC in a large collaborative transfer and obscure the transaction history.