Do you like KYC exchanges?

[Consignee 2395]

Recently I have gotten some coins from bounty which I did last year. These coins are listed in two exchanges, ----- and p2pb2b. Both of the exchanges are requiring to have KYC verification before I can trade. Is this good? I don't like KYC procedure. What about you?

Edited February 17, 2020 by epidemia

[xBDT Script 4371]

No, no for me however I was forced to give my KYC to some selected exchange like poloniex, bittrex, and few more. I do not use them at all since Binance and Kucoin are in the market. 

[hexwin 4931]

No I don't like them.

Maybe if I have to move crypto to FIAT money  for more than 500,000 then I would say it is good to have some kyc.

We don't want new Binance leak fiasco again

[Gorigor 5374]

There are many known cases of leakage of KYC data from exchange storages. I do not approve of this and do not understand why exchanges do this.
KYC may be needed to receive fiat money, but in order to withdraw cryptocurrency, they should not be asked to go through KYC.

[cryptokram 102]

I never wanted anything with KYC.

But as a bounty hunter i can't do anything but to follow the KYC if it is needed.

Taht is the life of bounty participants, even in exchanges you can't choose what to use or where to sign up!

[Glossy 615]

I don't like them and I never used them ...  I used Binance and Cryptopia for the sole reason that they didn't required KYC on registration.

What I hate when recieveing bounty I have to open account on exchange that requires KYC that angers me so much.

[DIY Tube Video 239]

The US is enforcing KYC on us if we like it or not. Most countries will eventually follow. I dont like it but I dont think we will have a choice in a few years.

 

They say its to prevent terrorism but I think its so they can tax us more.

[DIY Tube Video 239]

1 hour ago, BTCmooping said:

Base in the ground that you don't like kyc then, you can keep these coins for further listing by the company. KYC is the suck among the other rules. Any bounty with kyc is an automatic disqualification in my end because, kyc is the most suicidal approach to earn coins or tokens.

Not sure where you are located but in the US, if we unwittingly sell to a "known" terrorist or criminal, we will go to jail. Not the criminal. Odd somehow that they dont arrest the "known" criminal instead.

 

We are being held to the same standards as the formal banking system yet we are not given access to the database they use to filter out known criminals.

[Bills 583]

I personally do not like it, because it is to remove anonymity, if I do not want to give my data and I do not want to be tracked in any way, it is not convenient, many Exchanges are demanding KYC, it may be an educated attempt to gradually remove the Privacy.

[ayatoslaw 858]

if KYC doesn't have to use personal data and also photo ID cards, maybe not many people hate it, and I am one who never wants to do that for an exchange, because the risk is my personal data.
unfortunately some exchanges have to do the KYC and we are forced to do it in some circumstances that are important and must be done.

[lev 91]

I wonder why they created the KYC requirement for user before using the exchange because this can prevent more users using the exchange platform. Even top exchange like Binance doesn't requiring the users to submit KYC docs before user can use the exchange.

[cryptosix 1643]

I too don't like providing KYC to them, since this could reveal our identification to unknown persons. I still not yet understanding why does these exchanges or coin makers need KYC when the system is decentralized.

[pathgutless 81]

5 minutes ago, volcanoe said:

That's how bad things happened nowadays from this market, exchange requiring KYC which you are not sure if they can secure your information. If you are not planning to use that exchange and the value of your tokens is not that much to reveal your personal data best not to deal with it and wait for other exchange to list the token. My personal opinion though., Still up to you OP.

in my opinion, only a malicious person who is afraid to give up personal data information, after all, if your data is used for criminal matters, the government will take care of that, as long as you don't lose money I don't think you need to panic.

[pageraji 316]

I dont like KYC exchange, we need KYC if we connect bank account to the exchange so we can withdraw in real money

[moonuranus 101]

No, not at all, as much as possible I want to keep my identity private to anything and anyone in this space, that's why I always avoid getting in an exchange that requires KYC, unless they did just implemented the KYC requirement while having my balance on that exchange then I will do it.

[Clint 9]

Due to this KYC exchange the essence of cryptocurrency is fading which the original content of crypto is anonymity. I cant trust sharing my KYC on any other exchanges but we cant do nothing about it because it is needed on them.

[cryptokram 102]

6 minutes ago, BTCmooping said:

You lied and should speak for yourself alone and not the Generality of bounty hunters

I didn't lie on this statement.

Most KYC in bounty hunting is implemented at the end of the campaign.

I dont do KYC if the project is a failure or will just get some amount. but if the project is promising and you will get huge reward then why should i will let that slip?

I am not speaking for the whole but most of them are doing the same thing.

 

[cryptokram 102]

16 minutes ago, BTCmooping said:

How do you know a project success if you are ask to provide KYC in the start if the project? 

I didn't say at the start of the project.

Most of the bounty before and some still running now are changing there rules at the end of camapaign.

There is no KYC required at the start of the campaign and then it ends.

The project gets the success of their ICO and will be listed in exchange.

But suddenly they required KYC before the distribution of token for bounty participants.
that is what i am telling about, you are caught in the corner, its already a money but it requires KYC at the very end of the road!

[DIY Tube Video 239]

4 hours ago, BTCmooping said:

Am not from US and nothing wrong so far. " the unknown " in your content made me lonely due to your understanding of cryptocurrency. Centralized cryptocurrency are not true cryptocurrency, reason be that; the purpose of cryptocurrency has been defeated. I am a decentralized cryptocurrency enthusiasts and a hodler, but never a fan of KYC and centralized cryptocurrency.

I am not supporting KYC myself. Its frustrating. I also believe it removes the core reason for cryptocurrency, the anonymity of it

[xBDT Script 4371]

7 minutes ago, DIY Tube Video said:

I am not supporting KYC myself. Its frustrating. I also believe it removes the core reason for cryptocurrency, the anonymity of it

It does but we are not yet too powerful to talk against the authority. I hope there will be a time when cryptography will be the main tool to identify a person not a centralized agency.

The exchanges or business those are dealing with money, they are abide by the law to ask for identity. So we can not really blame them.

[DIY Tube Video 239]

6 minutes ago, xBDT Script said:

It does but we are not yet too powerful to talk against the authority. I hope there will be a time when cryptography will be the main tool to identify a person not a centralized agency.

The exchanges or business those are dealing with money, they are abide by the law to ask for identity. So we can not really blame them.

I dont blame them either. Its comply or go to jail.

 

But this also limits me to just a few exchanges. It is very tedious to go through the process of registration so I only use three top exchanges that I trust. I only mine a coin that is available on one of those exchanges, which limits me greatly.

[xBDT Script 4371]

8 minutes ago, BTCmooping said:

we have lost everything to the government and they will enslave us again, even after we all fight for the freedom we all deserve.

True and government do not want their citizens to be self employed or becoming rich. Rich people do not care about them. Plus if someone who has a lot of crypto then obviously they have no reason to fear for them. 

If I had a lot of crypto then I would do the same the elwar did, Seasteading.

4 minutes ago, DIY Tube Video said:

I dont blame them either. Its comply or go to jail.

Yeah, it's the fear they want us to live with.

Edited October 1, 2019 by xBDT Script

[xBDT Script 4371]

6 minutes ago, yupi84goro said:

And indeed the opportunity is very open for data abuse.

Taking about data abuse?

I have seen those service providers to sell peoples data in open market. Even exchange like Coinbase admitted that they shared their clients data.

This is the saddest part when you see that reputed companies are playing with you data.

[Consignee 2395]

18 minutes ago, xBDT Script said:

I have seen those service providers to sell peoples data in open market. Even exchange like Coinbase admitted that they shared their clients data.

wasn't there something going on CZ doing something like that? I can't remember exactly, each and every person who holds our data are monetizing our data, you know this data are mostly needed in the world of internet.

[xBDT Script 4371]

1 minute ago, Consignee said:

wasn't there something going on CZ doing something like that?

That was a hack. I mean Binance deliberately did not do it. Someone was trying to blackmail them and asking a lot of BTC for stopping it.

I think they handled it wisely since we did not hear about it much later.