Starting with Monero - verification?

Question

Do you need to verify your identity somehow when creating a monero wallet or buying/selling/sending monero?

Thanks

Answer 1

When creating wallets and sending Monero you DO NOT need to identify yourself.

Personally I prefer to use the CLI wallet, This is typically how I create my wallets.

However, when buying and selling Monero, you typically will go through an exchange, this is the point where you will usually have to identify yourself to some degree.

Transacting in Monero SHOULD BE secure as Monero's key value proposition is to obscure your transactions (sending and receiving) using Ring CT.

Answer 2

You do not need to verify your identity when you create a wallet. If you want to buy or sell Monero on an exchange, then you need to have an account on that exchange and for that you need to verify.

But you can of course do the following:

1. Create an account on an axchange and verify your identity.

2. Deposit some Monero from your wallet to the Monero wallet on that exchange or buy Monero on that exchange (depends on if you want to sell or buy).

3. Sell Monero on that exchange or if you bought some, withdraw Monero from the exchange wallet to your personal wallet.

Let's say you bought some Monero on an exchange and send it to your own private wallet. In that case, after the Monero is in your private wallet, you can do whatever you like with it and nobody will ever know.

Meaning you could send it to some other wallet and nobody can tell to which wallet you sent it, if you send something or received something, or which amount was involved.