The same payment, two questionnaires.
A regulated exchange checks who you are before it will move your money. We ask for five things and check none of them. Both lists are below, field by field, so the difference is something you can count rather than something you have to believe.
What the signup form asks for.
Five fields, and this is all of them. They are stored exactly as you type them. What is missing from the process is every step that would test whether any of it is true.
- 01
Full name
Stored as typed. Not matched to a document or a register.
- 02
Phone number
Stored as typed. No code is sent to it.
- 03
Email address
Stored as typed. No confirmation link is sent to it.
- 04
Username
Has to be unique across accounts. That is the only rule.
- 05
Passphrase
Kept as a hash. It is the one value we could not read back.
Every line of the questionnaire, and what happens to it here.
Lift a bar in the right-hand column to read the true state of the field here. Some say never checked. Most say never asked.
| Field | A regulated exchange | Ananyums |
|---|---|---|
| Legal name | Checked against your ID document | never checked |
| Email address | Confirmed by a link before you can act | not confirmed |
| Phone number | Confirmed by a code before you can act | not confirmed |
| Date of birth | Required and verified | not asked |
| Home address | Matched to a bill or a statement | not asked |
| Government ID | Passport, licence or national card, uploaded | no upload |
| Photograph of you | Selfie or liveness video | no camera |
| Tax number | Collected and reported | not asked |
| Source of funds | Documents on request | not asked |
| Employer | Occupation and income band | not asked |
| Bank or card | Linked before money can leave | no link |
| Phone contacts | Requested by some mobile apps | no access |
| Approval queue | A review sits between you and the account | none |
| Time to first send | Minutes to several days, once approved | As soon as the account exists |
| What you hand over | Everything above, then a password | A name, a phone number, an email address, a username and a passphrase |
A record you never made cannot leak
Breach notices are written about data that was collected for a good reason and kept for a bad one. Scans of passports sit in support tickets for years. This wallet avoids that class of failure by never opening the file: there is no document store here, because there was never an upload.
The bars are not decoration
Addresses, counterparties and keys stay behind a black bar everywhere in the product, and release only when you point at them. It keeps a balance off a shoulder surfer's screen, and it keeps a screenshot from being a disclosure.
Fees you can work out before you send
A send costs a network fee of 0.00010000 BTC plus 1% of the amount. Both are shown against your balance before you confirm, and the total is written into the ledger entry afterwards. No spread is hidden in the rate and no tier removes them.
The limits, said out loud
The wallet is custodial, so your balance is held on our ledger rather than on a key only you hold. A lost passphrase cannot be reset for you, and a transfer that has landed in another account is not pulled back. An exchange offers those because it knows who you are. That is the trade, in both directions.