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Topic: A little word of advice is enough for the wise (Read 582 times)

hero member
Activity: 1708
Merit: 651
SmartFi - EARN, LEND & TRADE
January 16, 2021, 12:29:22 PM
#56
There is a popular saying that not your key, not your money but the chances of this happening is very slim depending on the volume. Binance allowed withdrawal up to 2BTC without KYC

Yes, but there is no guarantee that one day binanas will not stop working, or will not be hacked or something else.
In addition, if you are not verified and log in with a VPN, there is always a risk that support will ask you to prove yourself.

member
Activity: 579
Merit: 13
Are you kind to your neighbor? Think it through
I think it's best to use several different wallets. Especially when you have a large turnover of funds. But of all the existing options that I had to use, the most convenient and interesting TrustWallet. The wallet is multifunctional and the design is better compared to others.

I personally do not think using several wallets saves you; the truth is that crypto currency deals with consistency and you have to be consistent in your dealings always . Use a wallet to store up your assets, portfolios etc and ensure that  you keep it safe. except you run a cold storage; i see no reason why you would want to use multiple wallets. If your like trust wallets, use it, if you prefer imtoken use it, if u like cold storage better stick to it. choose one wallet. Makes it easier for you
hero member
Activity: 2184
Merit: 531
Bitrrex definitely the worst among them in blocking accounts unceremoniously, their level of strictness is nauseating sometimes, i had a long time account with bittrex i have not use for a long time and just recently i tried to access the account but for some reason the google recovery key is missing and i tried to deactivate the old account since i already have my kyc done (unwillingly) but those guys just making the whole process difficult, bittrex is a real pain now, far from what it use to be.  

Bitrrex showed itself not in the best way 2 and a half years ago.
Even then, users with large balances received letters with a request to undergo verification, their accounts were blocked and funds could not be withdrawn.
It's funny that they even rechecked those who had gone through the procedure earlier.

If only the process was made easy.

I mean there's normal KYC where they want you to send them a photo of your ID and there's a painfull drag you naked through the bushes kind of KYC where they want you to have a video conference with them where they record you or like with bittrex where they want you to participate in a mass photo shoot, send media bills in your name and such.

While all this is taking place you are not allowed to withdraw your own crypto and if you don't get approved, they'll steal your money.
member
Activity: 406
Merit: 14
It's very simply to handle this, coinbase is very popular and they will never seize non verified users assets without giving them a deadline to pass KYC or withdraw their coins from the wallet, only those who don't like KYC will have to move out their funds, I trust coinbase but wallets with private keys are much more better
member
Activity: 308
Merit: 15
I do rely on centralized exchange but never store funds in their exchange wallet because as the current trend like bitcoin bullish coinbase can freeze your account and nothing you could do but to wait for them to freeze it and usually happen during the ATH. There was someone has posted the same thread about it but now still happening and that he can't withdraw his funds due to some exchange technicalities.
hero member
Activity: 2562
Merit: 577
Coinbase along with some other exchanges like bittrex and poloniex did block people from withdrawing. Poloniex later unblocked the accounts but it took them like a year to do so.
Bittrex is probably the worst. If you did not provide required KYC they would not allow you to withdraw any funds deposited before the KYC became mandatory.

Holding coins there or even depositing may lead to your account being blocked and you having to wrestle with support.

Bitrrex definitely the worst among them in blocking accounts unceremoniously, their level of strictness is nauseating sometimes, i had a long time account with bittrex i have not use for a long time and just recently i tried to access the account but for some reason the google recovery key is missing and i tried to deactivate the old account since i already have my kyc done (unwillingly) but those guys just making the whole process difficult, bittrex is a real pain now, far from what it use to be.  
hero member
Activity: 2660
Merit: 630
Vave.com - Crypto Casino
Yes i also faced the same issue about a years ago. I was blessed with God any moved my funds by giving the requirement's documents. But one of my friends lost about $2k because his account got suspended without any notice.

No most of times they send email incase of such. In this, maybe your friend wasn't checking into his email regularly and maybe he saw the message late that made it suspended because of the time but I think he can keep doing request to the support. He can get a solution for another chance.
member
Activity: 238
Merit: 15
Coinbase can't rob people using KYC verifications but it's true that some less popular centralized wallets can use this to their own advantage, people should stop storing huge amount of money (assets) in a centralized crypto wallet or web wallet, they are not safe, if the wallet gives no key to the cribs how will control your money?
legendary
Activity: 3654
Merit: 1165
www.Crypto.Games: Multiple coins, multiple games
If you have over certain amount of money, it is always smarter to use bitcoin original wallet. That way you can make sure that you own every single thing about your own wallet and you could basically move that around anywhere you want, I would say try to put that into few different usb as well because if anything happens to your PC you will lose all of your money, so having it in many places and keeping all the info in all of them will make sure that even if one of them gets deleted, the others will be fine.

I am not saying we should all use it, because if you have only few hundred dollars you could put it in coinbase or binance or whatever and you will be fine, it is not really that much amount of money and doesn't worth all the hassle of moving it around and securing it, but if you have few thousand dollars or more, it is always smarter to use the OG wallet.
full member
Activity: 1316
Merit: 104
CitizenFinance.io
There is a popular saying that not your key, not your money but the chances of this happening is very slim depending on the volume. Binance allowed withdrawal up to 2BTC without KYC
member
Activity: 210
Merit: 14
Coinbase put a long lock on someone's account and that's where he store all his crypto life savings on, I read that somewhere on this forum two days ago, it's easy to use coinbase service most especially if you are from United States of america but what many don't know is how to take control of their funds themselves, coinbase don't give such freedom
member
Activity: 126
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Pretty soon any reputable companies that wants to have anything to do with fiat transactions will have to require KYC. So better to start thinking of a plan when that happens.
hero member
Activity: 2184
Merit: 531
Coinbase along with some other exchanges like bittrex and poloniex did block people from withdrawing. Poloniex later unblocked the accounts but it took them like a year to do so.
Bittrex is probably the worst. If you did not provide required KYC they would not allow you to withdraw any funds deposited before the KYC became mandatory.

Holding coins there or even depositing may lead to your account being blocked and you having to wrestle with support.
sr. member
Activity: 1246
Merit: 306
Thanks for sharing the article, some of the newbies doesn't know the difference between a CEX and a DEX and doesn't know the difference between centralization and decentralization too so it's an important step to let them know and to illuminate them. I might recommend blockchain wallet and MyEtherWallet or maybe they can use a built in wallet like the one used by Brave Browser.
member
Activity: 1008
Merit: 12
SAPG Pre-Sale Live on Uniswap!
If you are still using centralized wallets like coinbase and others that requires email logins only it's better to move your funds to a wallet have give you access to your private keys or Mnemonic seed, do not be surprised if you are asked to pass KYC before you can withdraw your funds, even if coinbase go easy on users some centralized wallet may use this as a opportunity, if you don't know the difference between DEX and CEX wallet kindly go here to learn know

https://hackernoon.com/centralized-vs-decentralized-cryptocurrency-exchanges-explained-simply-639411ecb452
Yes, private and quality wallets should be the priority for safety and there is no need to store your coins in centralized or third party wallets other than when you just want to sell or buy some coins and then you can transfer the coins to your private wallet, thats it.
full member
Activity: 737
Merit: 104
Yes i also faced the same issue about a years ago. I was blessed with God any moved my funds by giving the requirement's documents. But one of my friends lost about $2k because his account got suspended without any notice.
full member
Activity: 862
Merit: 100
I think it's best to use several different wallets. Especially when you have a large turnover of funds. But of all the existing options that I had to use, the most convenient and interesting TrustWallet. The wallet is multifunctional and the design is better compared to others.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I do not have a problem doing KYC in the exchange that I trust because they can protect the member's document and make sure that they are really competent to take care of the document from the hackers. But I do not use Coinbase to trade or keep my funds because I believe it will be safer if I can feel safe it in my personal wallet. After all, I have the key and control my own money.
copper member
Activity: 2968
Merit: 575
www.Crypto.Games: Multiple coins, multiple games
That should not be a big problem and i have been doing KYC for some trusted exchange sites and I'm not facing any problem with these exchange sites.
people are having a different opinion about KYC but so far I never got a difficult thing with the verification process.

It's good to hold your coin in your wallet but how can you trade it then?


You aren't facing any problems because you have already went through the KYC process. Those who are concerned about their privacy are the ones facing problems. And just because you haven't faced any problem doesn't mean that you won't face any in the future. Moreover, OP is talking about private keys. The exchange that you use probably doesn't provide you with your private keys. This means, if the exchange goes down, so does your coins!

Move them when you want to trade but don't hold in an exchange.
hero member
Activity: 2366
Merit: 504
I mean if the exchange is really popular like coinbase which has really huge valuation I think it's fine. my main concern is if they decide to freeze up our money out of the blue then it's really annoying and usually takes so long to get unfrozen again.
Moreover if the exchange that provides wallet offer reimbursement if any hacking happens within their system. Not all people know some tech stuff like some of us are and they can't be bothered to set up everything from scratch.
sr. member
Activity: 1596
Merit: 335
If you are still using centralized wallets like coinbase and others that requires email logins only it's better to move your funds to a wallet have give you access to your private keys or Mnemonic seed, do not be surprised if you are asked to pass KYC before you can withdraw your funds, even if coinbase go easy on users some centralized wallet may use this as a opportunity, if you don't know the difference between DEX and CEX wallet kindly go here to learn know

https://hackernoon.com/centralized-vs-decentralized-cryptocurrency-exchanges-explained-simply-639411ecb452

It's better that they move their fund not because about the KYC but it's the fact that you won't be able to hold your own private key. No key = Not your coin well it's much better to hold your fund on your own wallet.

Agree with this, aside from identity security, people should prioritize their fund's security. Online wallets are susceptible of hacking, if you are not holding your own keys, you don't own your funds. Funds on centralized wallets can be frozen at any time due to suspicious activities. Store funds on a hardware wallet for security, no KYC needed as wel, you get to keep your own seed phrase and keys.
sr. member
Activity: 644
Merit: 364
In Code We Trust
KYC was developed because clearly it has its advantages for crypto users. One advantage of it is the trusted idetification because nowadays in internet and crypto world there is a lot of hackers roaming around waiting for a prey. However  this advantage also has its downside considering that the crypto users identification will not going to be stay hidden. Since, crypto users wants the culture of anonymity to ensure their very own safety and security. KYC provides assurance to the users of safety of tokens and minimize the criminal acts such as money laundering. So, clearly put a little bit of trust in having KYC when having a transaction.
legendary
Activity: 2492
Merit: 1215
They do not ask to pass KYC to withdraw funds, they ask to present a copy or picture of documents and apartment bill (any kind of bill with your name and address will do actually) already when creating account.
If they ask for document verification, if they ask for your address verification through copy of bill, how can it not be KYC? Do you have any idea what you are talking about? I don't know how coinbase act on KYC things, but above mentioned procedure is another form of KYC.

And what I have written? They ask address, bill and a document for verification. Same as KYC process includes ID card verification, face verification, document verification such as utility bills as proof of address, and biometric verification. Coinbase doesnt ask for KYC or any kind of verification when you withdraw funds, because your account is already verified when you create it.

Please explain what I have written incorrectly.
sr. member
Activity: 770
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The Standart Protocol - Solving Inflation
I dont have any doubt for big centralised wallet like coinbase, but dont you dare put your coin in centralised wallet which is new, because its same like you give your coin to someone you and the community dont know about. Very high risk. I suggest you put your coin at trust or exodus it has multiple wallet but does not centralised
sr. member
Activity: 1330
Merit: 326
There's a perks of choosing centralized wallets although they are requiring users to submit KYC but when there are some unexpected issues, users can definitely assured that funds can be stored safely like coinbase.

On the othet hand it wasnt still safe and still vulnerable with hackers. One more thing is that data has been proccess and can be leaked.
legendary
Activity: 3010
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They do not ask to pass KYC to withdraw funds, they ask to present a copy or picture of documents and apartment bill (any kind of bill with your name and address will do actually) already when creating account.
If they ask for document verification, if they ask for your address verification through copy of bill, how can it not be KYC? Do you have any idea what you are talking about? I don't know how coinbase act on KYC things, but above mentioned procedure is another form of KYC.

I think he is trying to say that KYC is done upon creation of an account, so it is impossible to ask for KYC when you have already done it.  Though some centralized exchange doesn't do this kind of process instead they only require users when the time comes they need to withdraw the funds.



I am not against KYC since it is also one of the option to protect our account and at the same time recover it whenever there is some issue arise regarding owning it such as 2fa problems and others.
legendary
Activity: 1862
Merit: 1015
Even though Coinbase or Blockchain wallet is a type of centralized wallet, this wallet is safe, because I've read an article that there was a user who couldn't access a blockchain account because he forgot to save his login code, and blockchain support helps to open his account with several verification steps to ensure he is the original user.
from here I am always sure if a centralized wallet is still a suitable choice of wallet to store your assets.
member
Activity: 155
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If you are still using centralized wallets like coinbase and others that requires email logins only it's better to move your funds to a wallet have give you access to your private keys or Mnemonic seed, do not be surprised if you are asked to pass KYC before you can withdraw your funds, even if coinbase go easy on users some centralized wallet may use this as a opportunity, if you don't know the difference between DEX and CEX wallet kindly go here to learn know

https://hackernoon.com/centralized-vs-decentralized-cryptocurrency-exchanges-explained-simply-639411ecb452

They asked KYC because they avoid hack or anything like that, and if you want to still anonymous because your id was important then you need to provide the wallet by yourself. Isnt using centralized wallets like coinbase make your bitcoin transaction for every coinbase user cheaper? I still see the benefit of using centralized wallet here...
full member
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Glad you bring this up, some people do not understand the implication of this new rule, if some exchange can decided against giving you your fork tokens and prevent you from withdrawing them because they do not support the fork, just imagine what they will do when they have law backing them up. I believe we need DEXes more than before

It's not about "some" people, it's usually what happens to newcomers! There are two ways to learn something, watching others and learning from them or on your own mistakes! This is advice for all new people, to learn how to protect themselves, if they don't read and learn about this before they start dealing with crypto, they have big chances to lose some of their funds, if not all! It's a newbie thing, and this is just one of the basic things in crypto! OP should update his topic with other basic and important things for newcomers to learn, it's never enough to repeat them and give them another format!

I think, no need to update as there are so many threads in the Beginners section alone discussing related topics. Some are already redundant. So what the user can do, is just browse the forum and not be lazy reading some of the important stuffs especially if he is a newbie in crypto. People usually lose money because of stupidity and ignorance. And they will just read when they were already lost their funds.
sr. member
Activity: 1020
Merit: 391
It's a very relative topic and depends on the amount and level of security we need to be calm and without problems. Maybe the past with large invasions and exposures of information may have left a spot between centralized exchanges. However I have already commented on previous topics that today we can find legal defenses in any government in cases of cyber attacks.
full member
Activity: 546
Merit: 148
We need to know the difference between a custodian wallet and non-custodian wallet. Using a custodian wallet is very risky, we all see what happened to the ledger the other day and how some accounts were compromised and also email was stolen by hackers. You risk your fund keeping funds on such wallet and platform just as stated OP.
Get a custodian wallet and safe your self, remember that your keys is your fund, don't let anyone hold your head earned money for you.
legendary
Activity: 3248
Merit: 1179
Glad you bring this up, some people do not understand the implication of this new rule, if some exchange can decided against giving you your fork tokens and prevent you from withdrawing them because they do not support the fork, just imagine what they will do when they have law backing them up. I believe we need DEXes more than before

It's not about "some" people, it's usually what happens to newcomers! There are two ways to learn something, watching others and learning from them or on your own mistakes! This is advice for all new people, to learn how to protect themselves, if they don't read and learn about this before they start dealing with crypto, they have big chances to lose some of their funds, if not all! It's a newbie thing, and this is just one of the basic things in crypto! OP should update his topic with other basic and important things for newcomers to learn, it's never enough to repeat them and give them another format!
hero member
Activity: 2128
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Glad you bring this up, some people do not understand the implication of this new rule, if some exchange can decided against giving you your fork tokens and prevent you from withdrawing them because they do not support the fork, just imagine what they will do when they have law backing them up. I believe we need DEXes more than before
sr. member
Activity: 1050
Merit: 252
In general, this is already an old story. It makes sense to keep funds on centralized exchanges only if you are going to trade them, if not, then it is better not to hold the funds there for a long time.
In any case, the most important thing is always your private key. If you can guarantee that no one else can reach it, that's enough.

Private keys if being secured well then everything will be fine. In case of storing your money inside exchange it depends from which cex did you

going to entrust your assets, there are traders who trust CEX and keep their funds for both daily trading activities and investment plans that they've

enjoying from the service offered by the CEX exchange.
member
Activity: 1260
Merit: 21
Not entirely impossible but very rare to see a wallet will ask it's users for kyc verification before withdrawal when they are not an exchange, any wallet that requires that should be dropped, users have option unlike when dealing with exchange when you are compell to do this.
hero member
Activity: 3024
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Top Crypto Casino
Great reminder!
There is an on-going proposal that wallets in the US would likely to ask for KYC. Even they're exchanges that were already asking for it but self-hosted wallets will be the one that will be included into that proposal.
This is the reason why keeping funds on exchanges shouldn't be done if you're not going to trade. You may be included when they start asking for it.
sr. member
Activity: 1188
Merit: 251
depending on the exchange, if in binance I have no doubt put it, many people even prefer binance or other large cex. Of course I would be worried about saving on a not-so-reputable exchange. At least people understand where they put their money.
legendary
Activity: 3486
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That is very worrying because we don't know what will happen in the future when prices are very high and higher, suggestions like this have been widely recommended and when those who ignore this suggestion it will be at their own risk. Maybe for a few percent of holdings held in centralized wallets will still be fine, we are talking about those with large holdings, so it is time to implement the advice given to keep you safe.
sr. member
Activity: 2604
Merit: 338
Vave.com - Crypto Casino
If you are still using centralized wallets like coinbase and others that requires email logins only it's better to move your funds to a wallet have give you access to your private keys or Mnemonic seed, do not be surprised if you are asked to pass KYC before you can withdraw your funds, even if coinbase go easy on users some centralized wallet may use this as a opportunity, if you don't know the difference between DEX and CEX wallet kindly go here to learn know

https://hackernoon.com/centralized-vs-decentralized-cryptocurrency-exchanges-explained-simply-639411ecb452
Majority of people here do know the risk of using CEX and even myself do knows that but you can really be still ending up or making some consideration on using up
an centralized platform specially if you do deal with fiat and conversions which you would mainly needed these platforms which you cant really do these things
when you do using up DEX.

Of course the risk is there but do you have any other choice? You would really be ending up on using this.Also, just remember on not to sit it for too long if you
you dont really like centralized ones.
hero member
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Just use those platforms mentioned to buy specific coins. Do not hold coins in such centralized wallets. If people aren't up to buying Trezor or Ledger, just use desktop wallet.
People have their own access to their own seeds as well as their private keys.
Don't hold your coins in an exchange as well, no matter how reputated it is.

There are some centralized wallets that allow you to export private keys and seed phrases (like Blockchain.com) or open source web wallets (like Bitamp.com). Any of these services is better to use than Coinbase, imho.
sr. member
Activity: 1610
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~
Just use those platforms mentioned to buy specific coins. Do not hold coins in such centralized wallets. If people aren't up to buying Trezor or Ledger, just use desktop wallet.
People have their own access to their own seeds as well as their private keys.
Don't hold your coins in an exchange as well, no matter how reputated it is.
hero member
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do not be surprised if you are asked to pass KYC before you can withdraw your funds


The chance of this happening is slim I think. They would first announce that they will require KYC from now on and give ample time for people to withdraw their funds if they do not agree with KYC, at least that's what I've seen so far from most CEX. Like the case with STEX, they gave 1 month or so for people to decide before proceeding with KYC.

Most of the centralized exchange already asking KYC for it's users even binance but not Mandatory, since you can still use it even without verifying your account with small amount of limit . If it's from US base exchange like coinbase  then you should always be ready to have it anytime since they had a hard regulations there for using crypto currency and you need to also follow their regulations even you are not from there .
hero member
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Good advice for noobs. I think we should avoid centralized wallet.  Centralized wallet means keeping your money with others. You have no control of the wallet here. You can lose access to your wallet at any time. So we should be careful now.
You can't avoid that dude, Where will you exchange your coin if it's not on the centralized exchange site?
People should have used the centralized exchange site carefully and then they didn't wanna did KYC and they must have chosen the right exchange site to be used to trade their coins.
There are so many exchange sites that are offering the daily withdrawal limit for unverified exchange site's account too. When people send their crypto to the exchange site and they have agreed if they are sending their coins to the 3rd party
full member
Activity: 983
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Good advice for noobs. I think we should avoid centralized wallet.  Centralized wallet means keeping your money with others. You have no control of the wallet here. You can lose access to your wallet at any time. So we should be careful now.
Not only now, we have to be careful, but from the past there have also been many who have advised us all to be careful with centralized wallets or wallets that we cannot fully control which could lose access at any time.
full member
Activity: 966
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Yes the OP is true I sometimes don't like online wallet such as coinbase that might either gather my personal information there are some wallets that will let you hold your coins and your private key as well they are the safe one since you have direct access to your wallet.
full member
Activity: 2184
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SOL.BIOKRIPT.COM
Even I don't believe in Email login wallets that's why I use a Hardware wallet to keep my coins safe from hackers. Until and unless I connect my wallet to the system nobody can access my wallet and do not keep your money on exchanges unless you trade with that. I read the article mentioned in your post and I also agree we can not rely on where the third party taking care of your funds.
full member
Activity: 1526
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Good advice for noobs. I think we should avoid centralized wallet.  Centralized wallet means keeping your money with others. You have no control of the wallet here. You can lose access to your wallet at any time. So we should be careful now.
legendary
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This has already been written a lot on the forum.
Take the time to explore these topics

Custodial vs. Non Custodial Wallets - "Not your keys, not your coin" Explained.
https://bitcointalksearch.org/topic/custodial-vs-non-custodial-wallets-not-your-keys-not-your-coin-explained-5173370

Why KYC is extremely dangerous – and useless
https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497

[Wiki] An Informal Introduction to Plausible Deniability
https://bitcointalksearch.org/topic/--5276381
hero member
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Cryptocasino.com
That should not be a big problem and i have been doing KYC for some trusted exchange sites and I'm not facing any problem with these exchange sites.
people are having a different opinion about KYC but so far I never got a difficult thing with the verification process.

It's good to hold your coin in your wallet but how can you trade it then?

copper member
Activity: 658
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Don't be afraid of KYC if you're dealing with a trusted institution. There are very easy requirements for trading on Coinbase. While KYC can be daunting at times, it is a very useful requirement overall.
Even a trusted cryptocurrency exchange platform can be vulnerable to hacks and data breaches. It is understandable that they implement KYC to prevent fraud. However, as the user’s personal information is linked to the exchange, if things go wrong their data will be accessible to anyone. Be wary that many exchanges whether it is decentralized or centralized may encounter unexpected difficulty. Thus, a user should prefer to be safe than sorry.
member
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If you are still using centralized wallets like coinbase and others that requires email logins only it's better to move your funds to a wallet have give you access to your private keys or Mnemonic seed, do not be surprised if you are asked to pass KYC before you can withdraw your funds, even if coinbase go easy on users some centralized wallet may use this as a opportunity, if you don't know the difference between DEX and CEX wallet kindly go here to learn know

https://hackernoon.com/centralized-vs-decentralized-cryptocurrency-exchanges-explained-simply-639411ecb452
No matter what some people will still prefer centralized projects over decentralized projects, coinbase for example just like you said have many customers or users around the globe and they are very satisfied with what they are getting, I believe that if coinbase introduce any KYC people won't stop using coinbase, do not be scared of KYC
full member
Activity: 924
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I see you have mentioned Coinbase. They do not ask to pass KYC to withdraw funds, they ask to present a copy or picture of documents and apartment bill (any kind of bill with your name and address will do actually) already when creating account. I've "hooked" a friend to crypto world last week and helped him to buy his first bitcoin (doing it through Coinbase was his choice).
It is KYC but on a small scale, KYC varies greatly, some ask for our complete data and some like Coinbase do. I agree with the OP that a wallet that gives us full access would be better
full member
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Pepemo.vip
Don't be afraid of KYC if you're dealing with a trusted institution. There are very easy requirements for trading on Coinbase. While KYC can be daunting at times, it is a very useful requirement overall.
legendary
Activity: 2492
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I see you have mentioned Coinbase. They do not ask to pass KYC to withdraw funds, they ask to present a copy or picture of documents and apartment bill (any kind of bill with your name and address will do actually) already when creating account. I've "hooked" a friend to crypto world last week and helped him to buy his first bitcoin (doing it through Coinbase was his choice).
full member
Activity: 1624
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do not be surprised if you are asked to pass KYC before you can withdraw your funds

The chance of this happening is slim I think. They would first announce that they will require KYC from now on and give ample time for people to withdraw their funds if they do not agree with KYC, at least that's what I've seen so far from most CEX. Like the case with STEX, they gave 1 month or so for people to decide before proceeding with KYC.
full member
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If you are still using centralized wallets like coinbase and others that requires email logins only it's better to move your funds to a wallet have give you access to your private keys or Mnemonic seed, do not be surprised if you are asked to pass KYC before you can withdraw your funds, even if coinbase go easy on users some centralized wallet may use this as a opportunity, if you don't know the difference between DEX and CEX wallet kindly go here to learn know

https://hackernoon.com/centralized-vs-decentralized-cryptocurrency-exchanges-explained-simply-639411ecb452
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