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Meister

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  1. I personally don't mind KYC verification, so long as the exchanger does not adhere to CRS standards or shares my personal information with the feds. I tend to go for KYC exchanges because they are generally better run and have stronger volumes. If you want to make money, invest, withdraw and enjoy the results of your savvy decisions then you will have to play the game at some point. If you start this crypto game with the mentality that nobody should be able to identify you, you will run into serious trouble explaining your wealth when you run into serious money. Using sketchy/fully dark exchanges runs into many risks: 1) These exchanges are subject to less oversight, aka if the exchange goes tits up you have no recourse because most exchanges with no KYC requirements usually have opaque corporate structures and ghost ownership. 2) The owners are more likely to make a run for it with your money. 3) Cashing out money from there will easily get you into trouble once you try explaining the source of your income to your bank and other payment providers you use to disburse the funds. If privacy is such an important issue to you, don't try cashing out, or try to strike an OTC deal with a buyer that will trust you.
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