I wanted to try paying for Mullvad VPN using a private method (Monero). I created a wallet and went to an exchange (Kraken) to buy some XMR, but they want me to enter all my personal details upon registration. How does this make sense? Is there an exchange where I don’t have to provide personally identifying information?
The only way you won’t have to provide PII is if you buy it from someone outside of the exchange ecosystem (from somebody face to face with cash or a gift card (note: Local Bitcoin has been gone for about a year now)). Exchanges have to comply with KYC (Know Your Customer) laws if they want to operate in the US, which is why they’re asking for PII.
That brings it’s own share of risks as well. Like getting scammed for example.
There are dedicated events in the crypto scene, where people meet to sell and buy directly from each other To avoid KYC