The Value Of P2P Bitcoin Exchanges – Bitcoin Magazine

This is an opinion editorial by Okada, mechanical engineer and contributor to look-to-peer bitcoin change RoboSats.

Buying your first bitcoin has dramatically modified because the early days of buying and selling on boards or Internet Relay Chat (IRC). Large exchanges sprung up and these days, they’ve perfected the artwork of attracting newbies by demystifying the shopping for expertise with seamless and, fairly frankly, senseless consumer interfaces.

Over time, regulators pressured exchanges into accumulating customers’ knowledge to confirm their private credentials. Exchanges reminiscent of these — we’ll name them “verification” exchanges (VEXs) — have custody of your funds and have instruments at their disposal to trace your id-linked funds on chain. The reader ought to already pay attention to the benefits of self custody, a topic worthy of its personal detailed exploration.

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