There are basically two risks:
- the gov will tax you for selling / owning the coins at some point of time
- if your exchange gets hacked, bad actors will know you own the coins and may extort it from you
The only way I know to go non-KYC is to sell your KYC coins for fiat and then buy it again p2p.
keel / Keel
npub1l7…5jzaa
2023-09-20 18:45:11
in reply to nevent1q…0gwt
Author Public Key
npub1l7x3yvns649kwey8e3kkpc6a20eamf37f7yqkgt8r8x0eq8mql7qp5jzaaPublished at
2023-09-20 18:45:11Event JSON
{
"id": "42e67db8406f4677c5bf0a6bfd35af77474ca8181ae3e322fafa77b4ec989230",
"pubkey": "ff8d123270d54b676487cc6d60e35d53f3dda63e4f880b216719ccfc80fb07fc",
"created_at": 1695235511,
"kind": 1,
"tags": [
[
"e",
"7c87ddfa4ca3e97414116b161dd6c54530d81ffb75032474af139508705c3c1f",
"wss://relay.nostr.band",
"root"
],
[
"p",
"6d8608e32416a618de7224edc7231e2667ca06d684836dc8f552b0b973de6d82"
]
],
"content": "There are basically two risks:\n\n- the gov will tax you for selling / owning the coins at some point of time\n\n- if your exchange gets hacked, bad actors will know you own the coins and may extort it from you \n\nThe only way I know to go non-KYC is to sell your KYC coins for fiat and then buy it again p2p.",
"sig": "0f99b2857342d07cdc8c4d56298086add0af426ba68d8f074dc2b759259653636408a9e835bfa7852555e3703896d6ec731732cb41641fec118157e04d9bf3a4"
}