Do you like KYC exchanges?

[Naga 1250]

18 hours ago, Stanley M. Murray said:

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

Ofc we don't like kyc exchanges because we got into crypto for privacy and being in control of our own money but the thing is now all the big exchanges require kyc so if we want to trade we have to verify ID.

[spyaquino 907]

When it comes to KYC, it's always a complicated case. It is very difficult to send our documents, personal data without knowing who is on the other side. But usually when it's from Exchange I try to trust.

[Glossy 615]

4 minutes ago, sofar said:

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

It is hard to say and predict what exchange will have security breach and when. Then data can leak in the hackers hands and they can cause serious issues.

[sportlopez9000 232]

I have had a good experience using the Gemini exchange. They do have kyc, but the interface for trading is really enjoyable to use. They added a new active trader interface that makes it much easier to look at the market and plan trades. I don't like how exchanges are responsible with holding your sensitive documents. It feels like they could do anything with them, or an accident could happen if they were hacked and your data was leaked.

[Yushee 2]

I don't like kyc because it's too troublesome but for the real exchange I really need, I am forced to do it.

[XiongMengLee 24]

dont do it! they are bad exchange for kyc, ive been doing kyc on their website very hard to get approved , better trade on exchange that not required for kyc before you can trade like kucoin, or mercatox , yobit

[xBDT Script 4371]

3 minutes ago, rosywyt said:

As long as I can use the platform to exchange my coin, I won't pass my kyc.. But if ever I have a huge assets to the exchange then will require me to submit it, I will submit for the sake of my assets to withdraw. 

Well technically that time you have no choice once you have your coins in there. If it is small amount then who cares but if this is a big amount then you really do not want to lose them. You actually end up giving up your details. 

It happened with me in the past and I am sure a lot of others also had this experience.

[AlfFusco 664]

I do not like KYK tiles on some exchanges, because often there are hacks and loss of personal data of users, which is not good. But from this nowhere not withdraw , unfortunately(

[saddamali 194]

if you are a good trader , and deposit and holding large money i support you doing kyc otherwise i recommend you do not provide your informatin in any only exchanges.

[fajarriadi 179]

On 10/1/2019 at 2:30 AM, Glossy said:

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.

Some people said that KYC is dangerous because it can steal our identity for the bad purpose, so they suggest to avoid KYC. Do you have the same idea?

[cryptokram 102]

On 10/24/2019 at 9:27 PM, nesterovich_kolechka said:

There is nothing wrong with KYC identity verification. Exchanges require verification, probably in order to know how many real users they have, because many create multiple accounts

Yeah, there is nothing wrong with the KYC as long as the exchange belong to reputable one in the market. 
Except if the platform don't have a huge traders, and good volume in the market, Of course I won't submit any of my Kyc to them. 

[Saoha 189]

3 minutes ago, sotole said:

Yes, you are right to say that
the yobit exchange doesn't force to fill out forms for KYC, this is good and many members are happy with this.
maybe because the KYC process requires personal data that makes many people dislike this, including myself...

Yes, I think anyone doesn't want KYC, because it's private information. There are many exchanges that do not require KYC if you withdraw with an amount not too large daily such as Yobit, Binance, Hotbit, Kucoin, ...

[Naga 1250]

10 minutes ago, TheChinaBan said:

Of course, there is no use in doing a KYC for an exchange if you're just holding almost worthless coins/tokens that can be traded in that exchange. KYC has been a bone of contention for many all because we are not sure if our data can't be used for illegal purposes. 

That's why nobody should do kyc on any exchange because I do not trust their security teams will protect my identity because if even the best of them all got hacked then I'm sure the others can be hacked too.

[PunkGrunge 36]

On 10/1/2019 at 9:02 PM, xBDT Script said:

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.

WHAT... Coinbase admitted that? I regret doing KYC on coinbase  now 😞

On 10/1/2019 at 9:26 PM, xBDT Script said:

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.

Thats the problem even if exchange are reputable and trusted, there is always risk of hackers 😞

On 10/5/2019 at 2:26 PM, Consignee said:

Almost all of the reputable platform are using our data, may be we don't know and in some case we know. They are selling our data to others, is our data secure? Not at all.

I just hope and wish they never reach in the hands of wrong/bad people.

[lucky80 1046]

On 10/18/2019 at 9:55 AM, Bnance10 said:

to catch money laundering acts from tax evaders.

Also, to prevent terrorists and hackers from withdrawing their money.

On 10/19/2019 at 2:46 AM, Thefighter said:

I do not mind completing a KYC as long as I know my information is in safe hands

Correct. As long as there is a privacy policy, you can relax.

On 10/23/2019 at 2:23 PM, Byron J. Whelan said:

I do not approve of this and do not understand why exchanges do this.

Please read the whole discussion, mate.

[xBDT Script 4371]

Just now, PunkGrunge said:

WHAT... Coinbase admitted that? I regret doing KYC on coinbase  now 😞

I just hope and wish they never reach in the hands of wrong/bad people.

I can't remember if coinbase really have declare/admitted any kind of this. But it's obvious that most of the reputed exchanges are doing this, you know this data is very much expensive things on the internet. Have a look over all the things going around, you will obviously give up using centralized exchanges.

Although Binance are still having no issue, who knows someday they will share our data as well or not. You will never know even that your data is being monetized. We can't ignore the centralized exchanges but it's obvious that one must try to ignore it as much as possible.

By the way, what did you mean bad people? Your data is being monetized, what else bad it can be?

[xBDT Script 4371]

Just now, PunkGrunge said:

I found this article https://www.coindesk.com/coinbases-reputation-crisis-crypto-client-data

Thank you for sharing this.

Just now, PunkGrunge said:

I meant bad people who would assume our identities to do bad things like scamming other people or creating a credit card account like that.

It's very unlikely to be true/ even predict. You know reputed organizations may think twice before selling data to anyone, they may hand it over someone who has not any bad attempt other than monetizing in various ways but, our data can be used for a long time and it's possible that it can go hand to hand.

In internet, I feel nothing safe to be honest. It's a net to track you 😁

[lucky80 1046]

21 minutes ago, PunkGrunge said:

I found this article https://www.coindesk.com/coinbases-reputation-crisis-crypto-client-data

.

Please use screenshot instead using copied content. Can you fix it? The link that you shared can't be opened. 

However, it is their tracking provider who sell the data. 

Edited October 27, 2019 by lucky80

[Naga 1250]

56 minutes ago, TheChinaBan said:

That is the ideal stand and should have been listened to by many exchanges. Unfortunately, we users and members are not the owners of the exchanges that is why we have no choice but to follow the requirements more so if a token/coin is only available only in a specif exchange. I am sure those doing bounties can understand what I mean. 

Yes sometimes we have to do kyc to buy certain coins because they're only available there but what I don't like is if you're going to force me do kyc the least you can do is secure my private info.

[fajarriadi 179]

On 10/1/2019 at 2:21 AM, cryptokram said:

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.

You're absolutely right! I hate to do KYC but it is required step before join the bounty. I always do KYC but after i join this forum i think it twice because many people said that KYC is dangerous.

[lucky80 1046]

12 minutes ago, PunkGrunge said:

Yes i can but why? Why you want a screenshot? It is hard to screenshot the whole article. Why is it serious issue? It does not break any rules of the forum. Posting rules about link are No malware or phishing site link, No link shortener, and  No referral link.

The coinbase is the serious issue, mate.

You don't need to copy the whole article. Only the text you've copied from the coindesk site.

You better read the rule. Now you are using copied content from the rule post. See the white glue. I hope you learn. 

[PunkGrunge 36]

 

35 minutes ago, lucky80 said:

Please use screenshot instead using copied content. Can you fix it? The link that you shared can't be opened. 

However, it is their tracking provider who sell the data. 

I can still click the link and it opens in a new tab without a problem.

 

7 minutes ago, lucky80 said:

The coinbase is the serious issue, mate.

You don't need to copy the whole article. Only the text you've copied from the coindesk site.

You better read the rule. Now you are using copied content from the rule post. See the white glue. I hope you learn. 

My post is no longer here. Text i copied was for clearing confusion about coinbase data leak and link was for the source. Anyway i will use screenshot from next time. Hope u can guide me to rules and white glue so i can learn more.

[lucky80 1046]

22 minutes ago, PunkGrunge said:

 

I can still click the link and it opens in a new tab without a problem.

 

My post is no longer here. Text i copied was for clearing confusion about coinbase data leak and link was for the source. Anyway i will use screenshot from next time. Hope u can guide me to rules and white glue so i can learn more.

Moderators delete your post because you are using copied content. I tried to warn you to use a screenshot instead of copied text from the coindesk. 

@xBDT Script has a thread about this white glue text. Kindly share the link here, will you, mate.  So everyone will learn how to indicate the spammer.

[xBDT Script 4371]

Just now, lucky80 said:

@xBDT Script has a thread about this white glue text. Kindly share the link here, will you, mate.  So everyone will learn how to indicate the spammer.

Ah! That mighty topic. Sure!

Here is the precise one LOL:

Well they think that they are smart and we are bunches of dumbos 😁

I was talking to one of the mod to stick it like the announcement topics they do. He said they are busy now and later he sill see what he can do. Hope fully they do it later.

[PunkGrunge 36]

16 minutes ago, lucky80 said:

Moderators delete your post because you are using copied content. I tried to warn you to use a screenshot instead of copied text from the coindesk. 

@xBDT Script has a thread about this white glue text. Kindly share the link here, will you, mate.  So everyone will learn how to indicate the spammer.

I have read @xBDT Script post before. I clearly misunderstood white glue text thing. Thanks for pointing out my mistakes.