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Do you like KYC exchanges?

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The process of identifying a user is regulated by representatives of state authorities, financial regulators and international organizations.
Virtual coins claim to participate in the global economy, and a lot of money is spinning in the sphere itself. The authorities are interested both in protecting investors and in guarantees of transparency and legal operation of exchanges and ICOs.

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I don't mind doing my KYC on an exchange, if the local regulations insist on it being performed, but I also wouldn't trade any coins there that I've allegedly made from dubious sources either, so to each their own way.

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The KYC procedure was instituted to prevent criminal actions such as money laundering, but it is in contradiction with the principle of decentralizing cryptocurrencies.

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On 9/30/2019 at 10:30 PM, 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.

Yes that angers me too ;( but they unfortunately always want it and I think they are stealing them from us for nothing.Yes I think they won't ever give us any free airdrop and they will use our informations

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19 hours ago, fichenfbi said:

Thе US is еnfоrcing KYC оn us if wе like it or not.  Моst cоuntriеs will eventually fоllow.  I dоnt like it but I dоnt think we will hаvе a choiсе in a сouple of yеаrs.

This, as countries keep passing KYC laws, this will be a widely trend on exchanges. It's necessary for us as customers to check the exchanges reviews and reputation concealing their user's data. Nakamoto's initial idea was anonymous transactions, so a third party getting the user data is against his ideas.

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On 11/1/2019 at 2:29 PM, aika said:

This, as countries keep passing KYC laws, this will be a widely trend on exchanges. It's necessary for us as customers to check the exchanges reviews and reputation concealing their user's data. Nakamoto's initial idea was anonymous transactions, so a third party getting the user data is against his ideas.

Well, I guess Satoshi did not thought about the idea of having exchanges where people can buy and sell bitcoin. He thought people are going to use p2p for that so no KYC needed for that 

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Of course, I do not mind, but why do it, provide my data, because there are exchanges without user verification, I use them. But on exchanges where KYC is required, there are also promising tokens.

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I also don't like this. but now a days you have to complete KYC most of the exchange if you want to trade that exchange or withdraw. As a bounty hunter i need also to do that to trade or withdraw. 

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To be honest I don’t like KYC. Cause it’s my personal informations and I don’t like to share it with unknown persons. But there have some exchanges they force us to process with KYC verification. I try to keep away myself from this types of exchanges.           

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I think that no one likes verification. But that’s the only way the site can confirm your identity. I only verify on cryptocurrency exchanges.


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I definitely don't like KYC, for me I always prefer sites and exchanges that don't order KYC, and I avoid all the sites where KYC, especially the bounty sites, a lot of them are scams and they can steal your documents and use them in illegal things. 

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From my own experience I can say that the more difficult it is to go through KYC verification on the exchange, the more seriously the platform takes its work.

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I dont really like it, thats why most of my trade i used Decentralized Exchange. You can control all of your aset also we dont need to do a KYC went doing a trade. 

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13 hours ago, Rares002 said:

Well, I guess Satoshi did not thought about the idea of having exchanges where people can buy and sell bitcoin. He thought people are going to use p2p for that so no KYC needed for that 

Exchanges, if they weren't imagined by Satoshi, became a must when bitcoin gained popularity and became widespread. I think peer to peer transactions would be complicated nowadays with the current high transaction volume.

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To be saying Truth, i really dont like to do Kyc on any of the platform, as it can compromise with my personal information anytime in near future, like facebook did, so i use binance exchanger where no kyc is required for 2btc withdrawal. also kucoin is good exchanger without kyc for few btc withdrawal limit.

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i tested p2pb2b and its max trash-- first the extensive kyc , then u have these retarded high fees for withdrawing . then u have a high minnimum ammount that you can withdraw, and last, if u have 10-15 $ worth of coins there are big changes the withdrawal fee will eat all that. - after u withdraw even 20$ its not instant u have to wait for manual approval lol !

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so i think the KYC is essential for the legal  necessities in the nation in which the exchanging stage is working. so in this way , decentralization exchanging stages don't require KYC, in the event that you are intrigued please come to it.

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55 minutes ago, Bae said:

Kyc is good and I don't see anything wrong in doing kyc. They are trying to verify legit traders and those that are after hacking their platform.

That is one of the advantages of KYC, but the problem is if our data is misused for crime or sold, therefore we must be careful when doing KYC, do not do KYC on an exchange that cannot be trusted.

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11 hours ago, sotole said:

Like it or not, I think the KYC process makes your funds safe on exchange 🙂
Yappp, that obviously makes your funds safe from theft by hackers, but what makes the KYC process process requires personal documents to do with the exchange admin.
this is what makes worrying if the personal documents become material for crime.

yeah man
I also feel safe if I do KYC but to be honest I am not happy if I have to give my personal data to the exchange, I am afraid that if something bad happens later on.
in the meantime I have not found anything bad.

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1 hour ago, Kruze07 said:

Due to this KYC exchange the essence of cryptocurrency is fading which the original content of crypto is anonymity.

i also love crypto for its anonymity. but in exchanges where we need to do kyc, they already know about us very well. so where is the anonity. i don't like this

 

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Personally, I do not like to go the process of verifications on the exchanges, because this is all contrary to the anonymity of cryptocurrency! Now I an have exchange that do not require make KYC process! 

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I think they have no use for the user, only for the owners of the exchanges to have extra information from the people to use them or sell them to who knows who. So no, I don't like exchanges with KYC .

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Actually I don't trust in exchanging markets like this, I can not provide my documents for few dollars, this are my private documents, how can I send them to some one I don't know even he is honest or not, I suggest you to think so much before you make a step 

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2 hours ago, Docent said:

Personally, I do not like to go the process of verifications on the exchanges, because this is all contrary to the anonymity of cryptocurrency! Now I an have exchange that do not require make KYC process! 

Wow good to hear mate that you have own exchange, and yes these all exchange is decentralize exchanges so like to you says that they need to no require any type of Kyc from their users.


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