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After shopping for crypto with fiat on a KYC trade, as an alternative of simply transferring the crypto to a pockets, I perceive that I ought to get extra anonymity from monitoring by placing the coin by coinjoin or whirlpool. However it could really be extra economical for me to purchase LTC on the trade and ship it to an internet trade like Changelly the place I may trade the LTC for BTC after which ship it on to my pockets. (Extra economical as a result of my trade fees way more to withdraw BTC than for LTC.)
However I ponder if the swap might give anonymity to the BTC. If this is the case, then I would not should undergo the coinjoin course of, which appears sophisticated to me.
Does anybody know if non “know your buyer” exchanges present nearly as good anonymity to crypto as coinjoins do?
requested Could 16, 2022 at 1:08
Ideally you need to by no means use KYC exchanges with or with out coinjoin. The document with the trade and third events that handle KYC stays perpetually about your actual identification and bitcoin transactions.
Swaps performed utilizing providers like changelly don’t present anonymity. The service has all of the hyperlinks in your transactions and in some instances it might be tracked with chain evaluation.
Quoting from https://changelly.com/aml-kyc :
We acquire and maintain required and correct originator data and required beneficiary data on digital asset transfers and make it out there to acceptable authorities on official request
Coinjoin is a transaction between some customers that attempt to break the historical past of their UTXOs. Outputs in a coinjoin transaction look comparable and its troublesome to affiliate them with any inputs.