Do you like KYC exchanges?

[CryptoMaxim 3829]

I also pass KYC with caution. Usually I use exchanges without KYC. But a couple of times passed KYC on the exchange which has been working for a long time and has proven itself. If the value of coins is small and the exchange is new, I will not pass KYC.

[Docent 8549]

Personally, I didn't like KYS process, that's why  I am now use 50x exchange, because there no any KYS verification. Even you want withdraw big money.

[lucky80 1046]

On 11/24/2019 at 4:25 PM, wrayaner said:

Do you like KYC exchanges?

KYC is mandatory for many exchanges to prevent fraud users to take advantage of the system.

It also prevent hackers to sell the stolen bitcoin. And please use small to medium font. 

3 hours ago, Ksowjwo0098 said:

I worried with my data control by some one else where our data ID number can access to our bank ATM

If you give your id to the other party carelessly, that will happen. Use a reputable exchange.

[Scottsummers 347]

Personally I don't like it. What's the point of annonimity and decentralisation if a transaction can just be linked back to your kyc exchange. I'm not doing anything wrong but I think it violates the point of crypto. 

[Taimur 0]

My favorite exchanger is yobit.i don't know about of kyc. Because i am nathing use this for any time. But if i need it,i shall use it must be.

[sidik7 1217]

On 11/26/2019 at 1:36 AM, Warrior said:

Yes but only if It service management is at the top. Some exchanger needs much more time to varify and then failed I really hate them

i aggree also need to pay attention to the reputation of the exchange because if you do not attention will be very high risk because this is the most of important privacy and data.

[BitcoinTurk 207]

Although it is strange and unnecessary for me to share my credentials to such services or upload them on the internet, I think this is important.  All these services need to recognize their customers and control their activities accurately in case of a possible situation.  It is for this reason that these services also recognize the customer through the authentication method.  With this authentication system, an obstacle is placed in front of multi accounts and the owners of the account which has illegal account activity are easily caught.

[Corrado25 9442]

10 hours ago, Mamun said:

basically I dont like KYC exchange. If we connect to the exchange bank account so we can withdraw in real money, but KYC verification system is very irritate  me .

Need to get used to. Soon KYC will be needed on all exchanges. If you do not pass, you will not be able to trade. And the whole story of decentralization and anonymity is over. I'm basically serious. If KYC will guarantee me the safety of my money then I am ready to pass KYC

[Sb Amman 60]

In one word i said it is Pain. all the time i like to ignore that exchange which is mendatory KYC needed.

[fo1lluko1l 487]

I usually ignore exchanges that require user identification to trade and withdraw funds, as often exchanges are hacked, because of this I risk losing my passport and money, so I'd better find another exchange.

Edited December 1, 2019 by fo1lluko1l

[Walter1371 49]

Definitely not, I can even say that recently I have been actively developing paranoia in this regard, since almost every service needs to download my data, so I have to spend more time looking for such an E where everything happens without an identity confirmation.

[Sourovdeb890 416]

There are many known instances of spillage of KYC information from trade stockpiles. I don't endorse of this and don't comprehend why trades do this. 

KYC might be expected to get fiat cash, however so as to pull back digital money, they ought not be approached to experience KYC. what's more, I never needed anything with KYC. Yet, as an abundance tracker I can't do anything other than to pursue the KYC in the event that it is required. Taht is the life of abundance members, even in trades you can't pick what to utilize or where to information exchange.

[lucky80 1046]

5 minutes ago, Sujon33 said:

I don't like kyc in exchanger.I don't have identy card to verify kyc.Verify kyc is one kind of risk for you.Your personal information can be going to hackers.You will be in danger

You can still trade on yobit. In Binance, you can always withdraw with a limit of 2 BTC per 24 hours. So there is no reason not to like KYC unless you are a terrorist or money launderer. Besides, KYC can prevent hackers from selling bitcoin.

[kestukelis 9]

Is it dangerous to register with KYC? Why are people afraid and unwilling to do full registration with KYC? I invite you to get free tokens but don't want to do KYC.

[ajizz 195]

1 hour ago, kestukelis said:

Is it dangerous to register with KYC? Why are people afraid and unwilling to do full registration with KYC? I invite you to get free tokens but don't want to do KYC.

I think doing KYC by submitting personal documents is safe and not dangerous, as long as we really give it to the party that has been trusted but if we submit it to the party in doubt then it can make the document misused and it is dangerous for us.

[kestukelis 9]

1 hour ago, ajizz said:

I think doing KYC by submitting personal documents is safe and not dangerous, as long as we really give it to the party that has been trusted but if we submit it to the party in doubt then it can make the document misused and it is dangerous for us.

I agree. Now, most projects require you to submit to KYC, so you need to take your trust seriously.

[Efs 164]

crypto coins were produced for anonymity, and today even a simple instant swap platform wants to throw away anonymity aside and authenticate.  The Kyc app can be the end of crypto money.

[dmnqe07 365]

KYC exchanges is a lot of work to do before using it, i mean a exchange platform not need to know to much of yourself, i think the only reason why KYC is needed when we are about to withdraw a lot, kyc exchanges are no limit, thats why it's kinda good also. 

[Tarkin4ik 3160]

Personally, I don’t like KYC verification, because they have to wait a lot of time to trade, and it’s not a fact that you will still pass it

[Sourovdeb890 416]

No KYC isn't something I might want to hand over to individuals I don't have the foggiest idea and regardless of whether I know them in close to home life I would not send them kyc. also, What I loathe more is that a few IDs can never be acknowledged and many are so severe with the kind of reports that can be submitted. They ought to be somewhat merciful by settling on sure that more decisions are accessible.

[dimozon 579]

I think many are against KYC like me. The exchange is not safe they are constantly hacked and our personal data is not known where they go.

[Whydoyoucare 1094]

Well most people dont like KYC required exchanges, KYC is only needed if are doing  or talking about big amount of money, kyc is needed if you are withdrawing a lot of money. but if you are just trading kyc is unnecessary because most traders want to trade anonymously.

[lucky80 1046]

12 hours ago, Whydoyoucare said:

KYC is only needed if are doing  or talking about big amount of money

Maybe, for the users who say they don't like KYC has a lot of money to trade. We will never know. However, we both know what they are pursuing here.

[lucky80 1046]

40 minutes ago, wrayaner said:

KYC is mandatory for many exchanges to prevent fraud users to take advantage of the system.

It also prevents hackers from selling their stolen money. 

To hackers out there if you read my post here. Please be kind, and send your BTC to random addresses. It's getting hard to sell them huh. 

[Pearls Before Swine 815]

OP, that sucks that you're basically stuck with crypto that you can't sell unless you give up your identity dox.

 

Since tokens from bounties generally have low liquidity and demand, you probably wouldn't even be able to find another person, say, on this forum who wants what you have.  That's the only way I know of to avoid doing the kyc deal. 

 

And unfortunately in the future I think this is going to be what's going to happen with all exchanges.  There won't be any more unregulated ones that don't require kyc.