I don’t understand why exposing one’s IP address to sites that are visited would be any more risky than exposing it to unknown proxy servers in unknown foreign countries.
Also, one’s IP address as well as the encrypted data that is used for communications with many and perhaps most major sites these days is exposed to the servers of the ISP and various other servers on the Internet regardless of which approach is used. And virtually all communications involving financial or other sensitive data are encrypted; even viewing pages at this very forum is accomplished with encrypted data in recent times.
Best regards,
-- Al