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

Shopping for your first bitcoin has dramatically modified for the reason that early days of buying and selling on boards or Web Relay Chat (IRC). Giant exchanges sprung up and these days, they’ve perfected the artwork of attracting newbies by means of 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 akin to these — we’ll name them “verification” exchanges (VEXs) — have custody of your funds and have instruments at their disposal to trace your identity-linked funds on chain. The reader ought to already concentrate on the benefits of self custody, a topic worthy of its personal detailed exploration.

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