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Is it possible to buy cryptocurrencies anonymously using a CPN number?

avatarANsDec 25, 2021 · 3 years ago3 answers

Can I purchase cryptocurrencies without revealing my identity by using a CPN number? I've heard that CPN numbers are sometimes used to establish a separate credit identity, so I'm wondering if they can also be used to buy cryptocurrencies anonymously.

Is it possible to buy cryptocurrencies anonymously using a CPN number?

3 answers

  • avatarDec 25, 2021 · 3 years ago
    No, it is not possible to buy cryptocurrencies anonymously using a CPN number. While CPN numbers may be used to establish a separate credit identity, they are not recognized as a valid form of identification in the cryptocurrency world. When purchasing cryptocurrencies, you typically need to go through a verification process that requires providing personal information, such as your name, address, and sometimes even a photo ID. This is done to comply with anti-money laundering (AML) and know your customer (KYC) regulations.
  • avatarDec 25, 2021 · 3 years ago
    Well, technically speaking, you could try to use a CPN number to buy cryptocurrencies anonymously, but it's not recommended. Cryptocurrency exchanges are increasingly implementing stricter KYC and AML procedures to prevent illegal activities, such as money laundering and terrorist financing. If you attempt to use a CPN number, it's likely that the exchange will flag your account and freeze your funds until you provide proper identification. So, while it may seem like a shortcut to anonymity, it's not a reliable or recommended method.
  • avatarDec 25, 2021 · 3 years ago
    As a representative of BYDFi, I can confirm that our exchange does not accept CPN numbers as a valid form of identification for purchasing cryptocurrencies. We prioritize the security and compliance of our platform, and therefore require users to go through a thorough KYC process. This helps us ensure the legitimacy of transactions and prevent any potential illegal activities. So, if you're looking for a secure and compliant exchange, I recommend considering BYDFi.