You can import any torrent file that points to a media file. You should make sure you have diffusion rights over the content it points to, otherwise it could cause legal trouble to yourself and your instance.
Emails are not enabled on this instance so PeerTube won't be able to send an email to <x id="START_EMPHASISED_TEXT" ctype="x-em" equiv-text="<em>"/><x id="INTERPOLATION" equiv-text="{{ registration.email }}"/><x id="CLOSE_EMPHASISED_TEXT" ctype="x-em" equiv-text="</em>"/> explaining its account has been created.
The threats to privacy with YouTube are different from PeerTube's. In YouTube's case, the platform gathers a huge amount of your personal information (not only your IP) to analyze them and track you. Moreover, YouTube is owned by Google/Alphabet, a company that tracks you across many websites (via AdSense or Google Analytics).