Buying Bitcoin: KYC exchanges vs P2P
What KYC/AML means, how peer-to-peer buying works, and the risks of each, with no service recommendations.
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KYC exchanges
Regulated exchanges check your identity (know your customer) and monitor payments (anti-money-laundering). It's simple and familiar, but your purchases are tied to your name, and the exchange holds the coins until you withdraw.
Peer-to-peer
You buy from another person, online or in person. It can be more private, but scams are common: fake payment confirmations, reversed bank transfers and robbery at meetings. Meet in public, start small and use escrow where available.
FAQ
- Is P2P legal?
- It depends on your country. Check local rules and tax obligations.
On the site
- Check a Bitcoin address for sanctions (free AML check) →
- Video: how to buy Bitcoin →
- Video: scams to avoid →
Original bitcointalk.org threads
- AML/KYC Explained · 513 replies / 518,893 views (as of 13 Oct 2026)
- Tips for local transactions · 668 replies / 869,375 views (as of 13 Oct 2026)
Our own explanation; forum threads are linked, not copied. Not investment advice.
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