The whole point of me making certain payments with crypto is for it not to be attached to my name. obviously the crypto service company has my cc details. whats the most privacy friendly one? ty :)

  • pruneaue@lemmy.blahaj.zoneEnglish
    10·
    9 months ago

    Im not a big crypto person, but ive owned some in the past.
    Isnt any reputable wallet pretty much the same? From my understanding, especially when using something like monero, the privacy falls apart at the exchange, not the wallet.

    • Cinner@lemmy.worldBEnglish
      2·
      9 months ago

      Most people use custodial wallets (they don’t really hold the coins) and multiple wallets have had hacks (or ““hacks””) where a lot of user funds were stolen.

      I personally like

      • Electrum for Bitcoin
      • Feather for Monero
      • Guarda for Ethereum based coins because it allows you to generate a new address each time.
    • Saki@monero.townEnglish
      1·
      9 months ago

      You’re right. Use a centralized exchange (CEX), and you’ll be KYCed and de-anonymized. That’s why most privacy-coin users prefer DEX. For normal persons, if privacy is important, using anonymous gift cards or prepaid credit cards, which you can easily buy without ID, is more practical, much better than KYC’ed crypto.

      If you can somehow get KYC-free coin, maybe from DEX, i.e. if you can get it personally from your friend or peer without showing ID etc., then and only then, you have real private crypto. There are two popular ways for this (Bisq and LocalMonero). Another option called Haveno is hopefully usable soon, but that is still iffy.

      Using DEX is not essentially difficult, much safer than you might imagine due to a mechanism called multisig, but maybe this option is not for normal people. When you feel experimental, you might want to try to buy a small amount via DEX, to see what it’s like. If you’re a popular programmer or artist, accepting donations in crypto is also an easy way to get no-KYC coin. Another option is p2pooling—you can get a few Euro worth of XMR relatively easily; yet this last option is time-consuming and not very effective. Many of p2pool users or full-node people are privacy-advocating volunteers, maintaining/participating the Monero network for philosophical reasons, fully aware it’s not profitable in terms of money. This might be part of the reason why Monero tx fees are almost zero (like 1/100 of that of BTC). At the same time, there are many sketchy people around crypto too 😟 Be careful and stay safe!

    • Crack0n7uesday@lemmy.worldEnglish
      1·
      9 months ago

      The exchange and the wallet become the same for a lot of people that never really move money between their personal bank and places like coin base.

  • Decentralizr@lemmy.worldEnglish
    4·
    9 months ago

    If you want it the safest use the official Monero wallet. Or what I use and trust cakewallet. It can also do bitcoin in case you use that too…

  • 0x0F@lemmy.blahaj.zoneEnglish
    2·
    9 months ago

    Any non-custodial wallet will work tbh. The best wallet would be a desktop one that is solely used for your chosen network and gives you total control over your funds, like Electrum (https://electrum.org) for bitcoin. Ideally it would also let you connect to your own node, although that could be used to trace transaction origins. Your wallet is only as private as you are :3

  • Saki@monero.townEnglish
    1·
    9 months ago

    If you’re familiar with Electrum and migrating to the privacy coin, Feather may be a convenient choice.

    The fundamental problem for you might not be the wallet; but KYC vs. non-KYC. Is it allowed to post a link or mention specific platforms here? You may want to check a website about no-kyc and try a trusted, no-kyc platform—not a CEX but a DEX (pure P2P), so no company can monitor your private life (related to shopping). You can browse monero.town, which is a friendly Lemmy instance of !privacyguides@lemmy.one in the sense that Monero is recomended on the official site of Privacy Gudies: https://www.privacyguides.org/en/cryptocurrency/ (I’m a mod from !privacy@monero.town)

    The tricky part is, if you have been once KYCed, your privacy invaded, then you couldn’t undo it (un-KYC it). You may need to start over, creating totally new addresses, doing everything anonymously over Tor. If you’re not that privacy-oriented, you can just swap the KYC coin you have to Monero, and you’ll be invisible from that point.

    But Moneo is not magic to solve everything. DYOR and stay safe!