Do you like KYC exchanges?

[xBDT Script 4371]

On 10/15/2019 at 3:38 PM, clarityfund said:

if you are not a criminal why tries to launder money in some way there is nothing you have to worry about

Well privacy is our right and not willing to give it does not mean that some hesitation with criminal activity. Some people do like to keep it real private and for them it's really is a hard call no matter how reputed the exchange is. In fact the blockchain technology is here to eliminate this theory of giving personal documents to anywhere.

I wish there will be some days when we will really have this freedom. 

[Caporetto 327]

I got KYC'ed only on binance and even then i was scared seeing that even they got leaked ID's from february, imagine having 30 exchanges to make KYC , increase the risk also. Anyway if the airdrop is 10$ i wouldnt do it...

[Zzoro6110 19]

I don't like it because it violates your privacy and although the world of cryptocurrencies is so special, they want the opposite

[Bills 583]

3 hours ago, agentdosa said:

I agree with you, by taking action directly we give our identity to others ... And not necessarily the company that we follow can provide security for our identity ...

There are many Exchanges that still allow anonymity, the case is that of binance, which can still maintain a withdrawal volume of at least 2btc, and Yobit also has the same rank.

[jcarlo 206]

On 10/18/2019 at 4:58 AM, Makemoneybtc said:

Definitely not. Of of the most important features of cryptocurrencies is the fact that you remain anonymous while making transactions while if you complete a KYC you are definitely not anymore anonymous because now coins can be traced back to you

Exchangers cannot be blamed if they ask KYC to their customers because exchangers are bound by government regulations. It's not fun when we have to provide our identity data but the purpose of KYC is to avoid criminal acts such as money laundering

[Moon 88]

I absolutely do hate them. No way I'm sending my ID info to several exchanges all around the world.

Edited October 19, 2019 by Moon

[Cryptohash 702]

I don't like KYC used in crypto world .

Exchanges can try to develop there security stuff rather asking all peoples id proofs.

but no other go they need  KYC in all exchanges which makes me so tiring due to that act.

[saddamali 194]

KYC is a good way for extand your crypto withdrawal limit .If you are big trader doing kyc is a better way and added 2FA your exchange site otherwise you lost your money.

[cryptokram 102]

On 10/1/2019 at 8:37 AM, phabulu said:

For high volumes I can understand, but some exchanges requires kyc even if you wanna trade 10$, and this is not good.

I've seen a lot exchange like that, and those platform are new only to this crypto business industry like for example bitsdaq, once you deposit an amount to this exchange, whether small or big you can't able to do any withdrawal unless you're not submitting any kyc to their platform. 

[speedxp 111]

Actually I have no problem if the exchange requires KYC. As long as the exchange is good, except it has no reputation and has a low volume. So I will not do the KYC in the exchange.

[gerry 120]

On 10/1/2019 at 12:42 AM, xBDT Script said:

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. 

same for me idont like kyc.. thats why ilove yobit no hassle we  can easily create an account and easily trade ad also plus bunos for their investment box offer.. a lot of coins to choice

[Solainstaller 19]

9 minutes ago, Rafbouk said:

I agree we cannot blame exchanges for Trying to protect themselves. Not sure how it works but they get audited let’s say once a year and if they don’t follow procedures they’ll get a huge fine. Thanks for sharing i

KYC is good for asking by the exchanges but their should be some limit to show the KYC like users who are doing trading below $1000 should not be asked about KYC verification. If this type of limit works then it will be very good.

[xBDT Script 4371]

2 hours ago, gerry said:

same for me idont like kyc.. thats why ilove yobit no hassle we  can easily create an account and easily trade ad also plus bunos for their investment box offer.. a lot of coins to choice

Well it was a nice discovery yesterday that we already have bitcoin trade-able DEX exchange which means one will not need to give any form of ID to use them. It was not known to me until yesterday but I still have doubt and I am trying to find the things to get rid of my doubts.

[Rosepetals 407]

On 9/30/2019 at 11:39 PM, Consignee said:

Recently I have gotten some coins from bounty which I did last year. These coins are listed in two exchanges, coinsbit 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?

I really don't like giving my private information that is why i hate KYC,they maybe used it as a requirements to know customer but how can we assure if they used it on other purpose.We might become a victim of frauds and scammers.Thats what I care about.

[Luciferludz 1442]

On 9/30/2019 at 6:39 PM, Consignee said:

Recently I have gotten some coins from bounty which I did last year. These coins are listed in two exchanges, coinsbit 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?

I really hate that feature cause when I was beginner in cryptocurrencies I was depositng $60 to gate.io but whe tried to withdraw it tells to verify KYC,  bad thing at that time I was not having any ID so I was contacting support and it was take me a while to withdraw them without KYC. 

Edited October 19, 2019 by Luciferludz

[sidik7 1217]

And now we can see many exchange use strategy for use KYC and this required for regulations , we must to learn analysis the exchange if not requreid if we can withdraw in exchange no problem not use KYC because on exchange give alternatif for withdraw max if not use KYC.

[cryptosix 1643]

On 10/7/2019 at 12:05 AM, corrao25 said:

Nobody loves the KYC procedure, the more it guarantees nothing. Even if you passed KYC and the exchange was hacked and your money was stolen, there is no guarantee that you will be returned because you were a verified user. That's why I don't think KYC is necessary. It gives me nothing. And I just don't like to spend time at KYC

I totally agree on this part, but still exchanges are demanding to process KYC. We are putting our documents with them, but it is hard to trust them and their should be an electronic KYC in future so we can utilize it without submitting documents.

Although the KYC is a big problem for everyone and never to trust these exchanges.

[ultimateclub 392]

There is no guarantee of KYC leakage. I have seen many well known companies leaked there customer's private information to third parties without any prior notice or permission to earn more profit. Specially the Chinese companies do so for their business purposes. You may provide KYC at your own risk to withdraw your coins if they force.

[speedxp 111]

33 minutes ago, zenzero said:

for now I am fine with yobit and binance where i can still operate without kyc

Well, Yobit and Binance still don't require users to do KYC. But specifically for Binance, if you contribute to their IEO. Then you must do KYC, and it's actually not a problem.

[martmobi 127]

I honestly feel anybody that values what using cryptocurrency stands for will detest the KYC policy as if observed critically does not have any actual credible reasons that justify it. 

It's just my opinion, no offense intended. 

[jcarlo 206]

Actually there is no exchanger problem that requires KYC from its customers. The problem is if the exchange must require passport documents as a condition while not everyone has a passport

[dentolas 551]

1 hour ago, Juhe786 said:

I am not a fan of kyc, but I do agree that for verification and to prevent money laundering stuff, it is required by major exchanges. Like there are big whales and companies should know that these are not criminals who are using the funds for bad activities 🙂

It makes sense for dealings above certain amounts, but how can you call money laundring if a guy wants to withdraw equivalent to 50-100USD?

Although I agree that we have the need for certain regulations, I am sure that most of this is abuse covered by the "money laundry stuff". How can exchanges block your funds suddenly and ask for KYC? this is stealing!

[xBDT Script 4371]

19 hours ago, speedxp said:

Well, Yobit and Binance still don't require users to do KYC. But specifically for Binance, if you contribute to their IEO. Then you must do KYC, and it's actually not a problem.

I have a verified account with Binance. I think they were asking for it in case one need to withdraw over 2 BTC a day or something. These exchanges actually bound to ask for the IDs because of the pressure they feel from the authority.

17 hours ago, Enique said:

that's why they called it peer to peer currency, and anonymous where no one is pull in control in it

Well it's the current culture and government always wants to see where the money is going and coming so they push the exchanges for the KYC. It's not easy to ignore the orders for an exchange if they want to survive.

[Haydoidayctm 82]

I use Kucoin and Binance a lot and I need KYC and still use normally, just do not participate in promotions that require KYC users.  In general, I don't like KYC floors either

[Blacksheep 29]

On 10/1/2019 at 12:55 PM, 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

Agree! You're no longer anonymous once you give them your personal information. Also, you are prone to identity theft once they know your identity. I really regret giving my personal information in one of the bounty campaigns that I've participated.