Do you like KYC exchanges?

[Consignee 2395]

Just now, 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.

My bad, I have forgotten what happened, however, I doubt CZ isn't monetizing our data as well. May be we don't know. I don't trust these kind of person at all. It's possible that CZ is selling our data.

[xBDT Script 4371]

1 minute ago, Consignee said:

I doubt CZ isn't monetizing our data as well. May be we don't know. I don't trust these kind of person at all. It's possible that CZ is selling our data.

Money can make a man to do anything. The entire financial system is build on trust system and in any trade between two person, one needs to come out with trust. With Biance, with CZ it's the same.

I just hope they do not do anything that will ruin their reputation.

[trumpman 44]

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 try to avoid them as much as I can but sometimes you just can't do without them.

Unfortunately, finding good exchanges without KYC becomes harder and harder as time passes :(

[Consignee 2395]

15 minutes ago, trumpman said:

I try to avoid them as much as I can but sometimes you just can't do without them.

Unfortunately, finding good exchanges without KYC becomes harder and harder as time passes :(

Yeah man, shit happens sometimes. I have no way but to follow their KYC rules because I have to withdraw the amount. It's not even so low. Quite a good amount. I will wait for some more days, or months to see if the project listed in a good one.

[s107n 5727]

I'm taking it easy. For me, this is just a necessary part of my security section along with two-factor authentication. So I agree. The main thing that would be a trading platform was reputable and valued its reputation.

[Consignee 2395]

4 minutes ago, s107n said:

The main thing that would be a trading platform was reputable and valued its reputation.

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.

[dentolas 551]

It also happened to me a couple of times, this is one of the tricks to implement KYC without saying so... same things as requesting it at the end of the campaign.

I personally won't go for KYC... if you start doing KYC for a handfull of coins here and there you'll be spreading your personal info around without any guarantee on how it will be kept or protected... a lot of KYC info is for sale on the dark web

KYC should be required when registering for an ATM card, or a specific service, not as general

Hell, speaking about bounties, there are even many that request for KYC and then they become a dead project...

but in your case it also depends on how much you'll be getting from those bounties (that are already exchangeable,)

[sidik7 1217]

so far KYC give feed back positive to reduce and control on the quality on manage the account in exchange , but from KYC any negative feed back about in data privacy, this is very important hope the exchange is able to manage the secure privacy of user if the KYC was apply on the exchange

[Consignee 2395]

1 hour ago, Superred said:

I had use few exchange currently but most of them are required KYC to get verified member and seems lately KYC will became an standard of requirements in almost all of crypto exchange although you don't like it or more likely want to avoid it but nothing you can do unless following their terms  

Well, that' what is happening for the last couple of days, I see a sudden change on the policy of couple of exchanges. May be BAKKT has something to do with this.

[Paranoxxx 228]

To be honest who like KYC procedures? I think nobody like it, but it is necessary to fulfil the regulations for mass adoption of Crypto.

[lucky80 1046]

On 9/30/2019 at 10:39 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?

Everyone doesn't relish having to open and give their privacy. But KYC is a procedure that must be carried out due to regulations. In addition to preventing money laundering, it is also to avert bounty participants using multiple accounts. My position is neutral with the KYC system. 

[Consignee 2395]

6 minutes ago, lucky80 said:

Everyone doesn't relish having to open and give their privacy. But KYC is a procedure that must be carried out due to regulations. In addition to preventing money laundering, it is also to avert bounty participants using multiple accounts. My position is neutral with the KYC system. 

I am aware of the KYC procedure in ICO/Bounty but I was talking about the exchanges which was asking for KYC, no KYC, no trade. Binance has 2BTC limit per day for non-verified customers, why not they?

[lucky80 1046]

23 minutes ago, Consignee said:

I am aware of the KYC procedure in ICO/Bounty but I was talking about the exchanges which was asking for KYC, no KYC, no trade. Binance has 2BTC limit per day for non-verified customers, why not they?

Chances are afraid of being sanctioned by the government or the SEC. Or they might be scared of hackers. Many possibilities. Including the collection of personal data. Let's hope our data won't be leaked to other parties.

[1millionClub 494]

I hate them. I never sent my passport scans to any of these guys and I am grateful that I didn't. They get hacked constantly. Even binance was recently hacked. I don't want my passport scans to be sold on darknet.

[Slavi 11287]

no. I am categorically against all of these account verification, as this contradicts the main idea of cryptocurrencies - decentralization, especially since there is a high probability that your data will eventually merge into the network and they will be in the public domain

[raju 40]

Simply, KYC is not good from all kind of people thinking. 

But KYC is good for account safety and security.  Maximum of exchange have facility like - limitation. Is KYC done then unlimited. So every exchange can do this.

[mX4² 94]

Personally, I don't like this KYC things, about p2pb2b exchanger, i had deposit some tojen from my airdrop worth about $20++, but after do KYC verification 3 times  i still not passing because my fault when first register the website i using my pseudo name and when register i using real name. Till now my asset is there can't withdraw.

[Tatiana 540]

I've never used KYC exchangers yet. I am actually trying to stay away from such things. 

Today our private information is so easy acceptable (thanks to bank's workers who sell it), that I do my best to not stay it online. No one will sure me that exchangers can guarantee that my private information will not go in wrong hands. Thanks, but NO.

[Bitxalt 452]

actually I don't like it, I think it's taking too long and getting in the way of traders, but maybe in terms of security it will seem safer even though it's not always safe.

[Paranoia123 17]

No I don't like them even if sometimes i need to use them in order to convert my btc into cash but instead of this I avoid them as there were manny data leaks from exchanges and bounties.

[starwill 456]

Beyond the possible advantages, many users and members of the ecosystem see this procedure as an invasion of privacy and a way to centralize finances again. Something that goes against the philosophy that inspired the development of cryptocurrencies. Some even think that KYC represents "a death sentence for cryptocurrencies."

This position is based on the fact that, from its origin, cryptocurrencies were created under the premises of security, transparency, anonymity, and the exclusion of intermediaries that could hinder the activities of the people in their use. Such a fact could explain the reasons why many exchange houses do not fully adhere to KYC policy. It is that the promise of privacy is part of their promotional campaigns. That is why many users protested when decentralized platforms implemented KYC.

However, members of the ecosystem differ from the idea that regulations and data requirements lead to the disappearance of crypto assets.
 

[cryptotalker 611]

this is contrary to the spirit of krypton. exchange kyc procedures take us away from this spirit. I don't like kycs. If I don't have to, I certainly won't.

[seriousguywithfunnypants 266]

On 9/30/2019 at 11:39 AM, 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?

KYC doesn’t align with Satoshi’s vision as it compromises the anonymous part. Also, remember the data breach on Binance. 

[cryptosix 1643]

1 hour ago, Bitxalt said:

actually I don't like it, I think it's taking too long and getting in the way of traders, but maybe in terms of security it will seem safer even though it's not always safe.

In that case you can make a duplicate one or use someone's KYC, but it makes us worries if we lost password. For those countries need KYC, please do from your end since it is according to the rules.

IF there are other exchanges where they don't ask KYC, then go with them.

 

[Consignee 2395]

11 hours ago, cryptosix said:

In that case you can make a duplicate one or use someone's KYC, but it makes us worries if we lost password. For those countries need KYC, please do from your end since it is according to the rules.

IF there are other exchanges where they don't ask KYC, then go with them.

 

This is more worst, if you don't like KYC, it's certainly because you are caring your privacy or you are not risking your data to be compromised. Then how do you think it's a good idea to use other people data? I would see it as total fraud and discourage anyone do so.