bitmex Bitmex KYC

[BTC Future 3946]

Bitmex has announced that KYC procedure will be mandatory from now on and has given a period of 6 months for its users to pass their identity verification procedure.

Bitmex is the main Bitcoin and cryptocurrencies derivatives exchange used by tens of thousands of traders.

 

Moreover, there are reports that Bitmex is currently asking members to pass KYC for transcations coming from Bitcoin addresses by known mixing services as Wasabi (source).

 

• KYC procedure will begin on August 28th, 2020 
• Deadline: February 12, 2021.

 

Edited August 15, 2020 by BTC Future

[BTC Future 3946]

36 minutes ago, Moneyguru said:

bybit, and Phemex, and this 2 platform give me more benefit, such as trading competition, and other gifts.

I completely agree and perhaps when the time comes I will use another exchange as well. I don't trust Bybit though at all but I might try Phemex. I already tested trading there and their support is proper. I have many reasons not to trust Bybit.

[Raqeebzy 6456]

This trend: "Reveal your identity or leave our business" is quite becoming unavoidable. I don't use Bitmex but this isn't right. They will lose a few customers especially small traders and I know they are aware and probably prepared for that. I don't like KYCs and I will continue to dodge it as long as I can.

[Yomose 3704]

Kyc should not be mandatory, I can not use an exchange enforcing kyc. I like privacy. If I have funds on such exchange, I will move it to safe and reputed no-kyc exchange. Very certain, few customers will leave the exchange. 

[BTC Future 3946]

@Yomose @Raqeebzy I completly agree. As long as there are ways to bypass KYC we should not be sending any private information. Scammers have already stolen KYC information from many exchanges and know names, addresses and cell-phones. Since all these exchanges can't safely store the data why are we obliged to send them? I'll be avoiding for this reason as they have all proven so far that they don't take privacy seriously.

[Whited35 15285]

@BTC Future I am also gaining some email from exchange regarding the KYC requirements. Since I barely use this exchange, their requirement does not affect me 😜. It is hard to avoid exchange which requires KYC but I am trying to avoid such exchange as many as possible. Recently, our local exchange Txbit also demanded KYC and I can not bypass our exchange. 

I have terrible experience with that IDAX exchange. Which has stolen KYC documents as well as my BTC amounts. Maybe that corrupted CEO of that exchange is preparing to sell our sensitive data to the black markets to get the handsome amounts of money. 

Binance, Yobit, HotBit, and KuCoin are still offering the best services without KYC so I am still using them and at least I will not be expecting irritating message like,

"Dear customer, due to regulatory oversight against money laundering, Yobit exchange requires you to pass KYC!" from this my best exchange Yobit 😍😁.

[BTC Future 3946]

On 8/16/2020 at 2:55 PM, Whited35 said:

Binance, Yobit, HotBit, and KuCoin

I've stopped using many exchanges in the past because of this ridiculous KYC. They do not care to protect their customers and private information is getting leaked, while noone cares or even they feel sorry. Binance also had some leaks in the past which they tried to make look like non-important. At least they didn't enforce it to everyone.

[Whited35 15285]

3 hours ago, BTC Future said:

Binance also had some leaks in the past which they tried to make look like non-important.

As I am not a big volume trader, I have not provided KYC documents on Binance yet. They are still allowing me to perform trading activities. Yobit is there to fulfill my all trading needs. Some companies like Fractal ID are admitted to claim like they are offering KYC related services for so many exchange sites but I am still hesitating to provide sensitive documents for them. 

[BTC Future 3946]

1 hour ago, Whited35 said:

Some companies like Fractal ID are admitted to claim like they are offering KYC related services for so many exchange sites but I am still hesitating to provide sensitive documents for them. 

Yeah I've heard of similar services to exchanges. These are unwanted and basically not worthy that I don't even remember the names of these so called crypto projects. Of course they would sell the documents and noone would ever know.

[malik6314193 5449]

I didn't such kind of exchange which ask KYC for trading. I think they should make a limit that trading above 1 bitcoin will gave KYC. And it should be not mandatory for little traders. 

[BTC Future 3946]

3 hours ago, SilverF said:

They generally justify the use of "KYC" for commercial and legislative reasons, but let's face it, this is supposed to go against the anonymous nature that prevails in crypto

Yeah this is a major problem currently. Too many of the old services are trying to be legit and KYC is becoming mandatory slowly in everything. The reasons are not valid either. Binance still has the same policy since beginning and Yobit is still the same. I hope these exchanges won't be affected as they are the ones I use the most.

[BTC Future 3946]

On 8/24/2020 at 10:55 PM, madunaan50 said:

KYC is just a way of centralizing crypto. It won't work because the main concept behind Bitcoin is privacy and decentralization. If Bitmex needs KYC then I am out. There are other exchanges that don't require KYC.

We can definitely skip KYC forever. Bitcoin is P2P and we don't require a third party to perform the transactions. They can be in the middle and be of help (and also take fees for this) but they shouldn't ask for this much. I'm also out of Bitmex at the end of the year.

[magd 5231]

This news is very impressive because it achieves a high level of security for the user on this exchange and thus the matter will become more credible and traders will not be exposed to attempts to steal accounts, perhaps some people hate doing Kyc verification, but it is in our interest.

[cooperallch 349]

The use of KYC for users is very important because it secures the exchange and the users themselves in case of loss of access to the account, or in the event of a hacker attack, users can be reimbursed

[yonkii 3205]

I have read about Bitmex and that the CEO is hunted by police to be arrested for many accusations. Maybe it is better for them to shut it down and asking for KYC will not save them. This can be good news for yobit and maybe a good suggestion to add a trading page with leverage.

 

Bitmex is losing customers to Binance and Kraken according to some news I've read.

It would be wise from Yobit to open a stable leverage trading room and help some of these poor day traders from Bitmex find a new home!

[Mella 3680]

I am passed KYC in other exchange that I am had to use to trade, but I am feel very unlucky to find yobit only later that is an exchange not need the ID from us. Binance also is not asks for lower from 2 btc but I am use only yobit now as a trusted exchange. This is bad for Bitmexx and they will lose customers.

[Sykkuno 2887]

Bitmex has a lot more problems to deal lately except from adding KYC to their customers. The ceo and two more executives are charged for criminal violations of the american law system and they are on arrest warrant but they have not yet been arrested.

https://news.bitcoin.com/bitmex-criminal-charges-prison/

[Umidjon009009 59]

It takes 5 minutes to register on both Bitmex platforms.  Enter your email address, password, and more.  All you have to do is top up your balance.  You do not need to go through the Kyc procedure.

[bogdanoff 3173]

I never traded in this exchange that is very difficult too with the way they ask to make orders but I'm lately only using yobit for my needs. I don't like bitmex at all and they make trading casino something I don't like a lot after losing a lot of money in gambling.

[Oxygen99 1930]

Everything need privacy be it in cryptoworld or outside cryptoworld and for that reason i don't think it is good to make KYC verification procedure mandatory to users of the site because this will definitely make some people that are not use to kyc lose there funds and i believe that will also make them lose some customers because most of us don't like kyc verification process.

[rvbeus 22]

On 8/15/2020 at 9:35 PM, Yomose said:

Kyc should not be mandatory, I can not use an exchange enforcing kyc. I like privacy. If I have funds on such exchange, I will move it to safe and reputed no-kyc exchange. Very certain, few customers will leave the exchange. 

Agreed, there goes our privacy. And you know most money laundering happens with cash...

[edwinjasuarez 46]

On 8/15/2020 at 8:24 AM, BTC Future said:

Bitmex has announced that KYC procedure will be mandatory from now on and has given a period of 6 months for its users to pass their identity verification procedure.

Bitmex is the main Bitcoin and cryptocurrencies derivatives exchange used by tens of thousands of traders.

 

Moreover, there are reports that Bitmex is currently asking members to pass KYC for transcations coming from Bitcoin addresses by known mixing services as Wasabi (source).

 

• KYC procedure will begin on August 28th, 2020 
• Deadline: February 12, 2021.

 

Amigo I think that bitmex is a platform that currently is not safe due to recent demands that have made their senior representatives, also they have always been characterized by the anonymity that gave all its users, the truth is that your platform is great and no one denies it, but what has happened is no longer worth doing the kyc, if you have money there the best thing is to withdraw

[Yomose 3704]

On 10/12/2020 at 6:29 PM, rvbeus said:

Agreed, there goes our privacy. And you know most money laundering happens with cash...

Exactly my point, people do not realize how kyc are so dangerous and should be avoided or limited, hackers at times do not just attack, they attack through the information they have collected about someone. Bitcoin can be hold in a way scammers will not have any link to you at all unlike fiats. 

[Abdulrahman3 1252]

This is a wrong and dangerous procedure for the future of the company, because it will lose a large part of customers, and the reason is that dealing in cryptocurrencies is based on encrypting the identity of the two parties with a high-precision system of security that ensures that both parties will not lose their money.

[tienda 8776]

I'm not sure if will success after asking their users to provide KYC obligatory, is possible they will miss a lot of their traders after a such decision. Also, with Bitstamp asking for all their users to provide a lot of documents! Proof of money source, prof of the cryptocurrencies source...etc bla bla bla