Am I Being paranoid?
Hi all, I decided to post this here as I think this is too technical for "Bitcoin Beginners", happy to move or repost if requested. I am now in the process of setting up my cold wallet, just for the fun of it and because I want to learn this "sovereignty" part of my BTC. For now I have set up various accounts with Coinbase/Coinbase Wallet, Muun and Kraken Pro, putting some money on each just to see how it works. All the coins were originally bought on Coinbase Exchange, so I bought on Coinbase; from there I transferred a part to Muun, and from there I will move some to Kraken. I have also moved some money to Electrum but I did not terribly like the experience/interface. I have already received my Trezor 5 plus and Xseed steel plates, and I will make the setup during the weekend. Now: I understand zippo of technology, but I have seen videos on Youtube (Bitcoin University, excellent site) which, if I understand it correctly, state that Coinbase will be able and willing to "chase" the money I have bought on Coinbase Exchange, hoping to get as much information on me as possible. So they (again, if I understood this correctly!) will be able to "track" my purchase from Coinbase to Muun and from Muun to what they will understand is my cold wallet. It is also my understanding that is not a strictly KYC/legal requirement stuff, it is *Coinbase snooping on me*. Of course I understand if the police suspects me of a crime they will be able to subpoena the data from Coinbase or track me on their own. But what Matthew Kratter says is that Coinbase goes the extra mile. So my questions are: Is this true? Did I understand it correctly? Will Coinbase be able to trace the crypto all the way to their final destination? If this is true, is there any difference with Kraken Pro, that is: will I avoid the problem if I buy straight on Kraken Pro and transfer on my cold wallet from there? Again the issue here is not what is legally allowed to the police. Is what these companies themselves are willing to do. Many thanks in advance. submitted by /u/ManlyAndWise [link] [comments]
Hi all,
I decided to post this here as I think this is too technical for "Bitcoin Beginners", happy to move or repost if requested.
I am now in the process of setting up my cold wallet, just for the fun of it and because I want to learn this "sovereignty" part of my BTC. For now I have set up various accounts with Coinbase/Coinbase Wallet, Muun and Kraken Pro, putting some money on each just to see how it works.
All the coins were originally bought on Coinbase Exchange, so I bought on Coinbase; from there I transferred a part to Muun, and from there I will move some to Kraken. I have also moved some money to Electrum but I did not terribly like the experience/interface.
I have already received my Trezor 5 plus and Xseed steel plates, and I will make the setup during the weekend.
Now: I understand zippo of technology, but I have seen videos on Youtube (Bitcoin University, excellent site) which, if I understand it correctly, state that Coinbase will be able and willing to "chase" the money I have bought on Coinbase Exchange, hoping to get as much information on me as possible. So they (again, if I understood this correctly!) will be able to "track" my purchase from Coinbase to Muun and from Muun to what they will understand is my cold wallet.
It is also my understanding that is not a strictly KYC/legal requirement stuff, it is *Coinbase snooping on me*. Of course I understand if the police suspects me of a crime they will be able to subpoena the data from Coinbase or track me on their own. But what Matthew Kratter says is that Coinbase goes the extra mile.
So my questions are:
- Is this true? Did I understand it correctly? Will Coinbase be able to trace the crypto all the way to their final destination?
- If this is true, is there any difference with Kraken Pro, that is: will I avoid the problem if I buy straight on Kraken Pro and transfer on my cold wallet from there?
Again the issue here is not what is legally allowed to the police. Is what these companies themselves are willing to do.
Many thanks in advance.
[link] [comments]