Topic: about exchanges kyc withdraw! (Read 1294 times)
There are many times it's happen with me still i facing this issue. I deposit ETH in idax.pro exchange but without any problem i do that but when i trying to withdraw my token than they asking KYC really i'm very shocked because it's a worst method and i think one kind of trap. I think every exchange should be asking KYC when anyone try to make deposit. I have some token hold almost 8 to 9 months in Gate.to exchange but in the withdraw moment same thing happen.
4 years ago, I trade on poloniex and bittrex , they are the most trustable exchange I've ever known.
I can withdraw anytime without KYC verification. For some reason , I stop trading over 2 years and I want to withdraw the rest of the balance left, they asking me to give them the KYC.
Maybe the different between you and me is you're still new and still not aware that most exchange nowadays require KYC
I can withdraw anytime without KYC verification. For some reason , I stop trading over 2 years and I want to withdraw the rest of the balance left, they asking me to give them the KYC.
Maybe the different between you and me is you're still new and still not aware that most exchange nowadays require KYC
Maybe the exchange failed to informed you regarding the new regulation or perhaps you have failed to notice that there is a new exchanges policies about KYC but the sure thing is most of exchanges are now KYC compliant and regarding to this new comer then maybe he failed to read all terms and condition of the exchanges before creating an account in which i think he did.
Or in some cases companies take some checks or reciepts as suspucious and take time to prove
I check the your account to know the limit of of your account. Or better still, ask in their telegram group.
You would get everything when you will read their terms & conditions. Its quite important to read when you are going to register on an exchange. Actually KYC look like become mandatory on most of centralized exchanges, and without that they are making trouble with users fund. Some of exchange totally off withdrawal without KYC like Bittrex. Although I am not encourage to submit KYC but no way to avoid it if want to use reputed exchange. There is few exchange who doesn't required KYC for small withdrawal like Binace. Perhaps we might use that kind of exchange if we like to avoid KYC problem.
4 years ago, I trade on poloniex and bittrex , they are the most trustable exchange I've ever known.
I can withdraw anytime without KYC verification. For some reason , I stop trading over 2 years and I want to withdraw the rest of the balance left, they asking me to give them the KYC.
Maybe the different between you and me is you're still new and still not aware that most exchange nowadays require KYC
I can withdraw anytime without KYC verification. For some reason , I stop trading over 2 years and I want to withdraw the rest of the balance left, they asking me to give them the KYC.
Maybe the different between you and me is you're still new and still not aware that most exchange nowadays require KYC
Maybe the exchange failed to informed you regarding the new regulation or perhaps you have failed to notice that there is a new exchanges policies about KYC but the sure thing is most of exchanges are now KYC compliant and regarding to this new comer then maybe he failed to read all terms and condition of the exchanges before creating an account in which i think he did.
The thing I do to know if KYC is required on some exchange is try to use the withdrawal option, if I receive a prompt to complete KYC on the KYC page, then I will know they require it. Or I check the your account to know the limit of of your account. Or better still, ask in their telegram group.
4 years ago, I trade on poloniex and bittrex , they are the most trustable exchange I've ever known.
I can withdraw anytime without KYC verification. For some reason , I stop trading over 2 years and I want to withdraw the rest of the balance left, they asking me to give them the KYC.
Maybe the different between you and me is you're still new and still not aware that most exchange nowadays require KYC
I can withdraw anytime without KYC verification. For some reason , I stop trading over 2 years and I want to withdraw the rest of the balance left, they asking me to give them the KYC.
Maybe the different between you and me is you're still new and still not aware that most exchange nowadays require KYC
Maybe the exchange failed to informed you regarding the new regulation or perhaps you have failed to notice that there is a new exchanges policies about KYC but the sure thing is most of exchanges are now KYC compliant and regarding to this new comer then maybe he failed to read all terms and condition of the exchanges before creating an account in which i think he did.
I guess they push to implement that having KYC on withdrawal in every client because of the law by the government or even before deposit your fund you must know which exchange reliable and reputed one that can we trust to pass KYC. I also tried that on Gate.io exchange when I'm come back after having a 1year break from trading and decided to withdraw my balance but it needs KYC.
Granted that it is required by their government that during withdrawal they should first pass the KYC procedures but still they should inform their clients in advance or they should include the rule of KYC application to their terms and agreement so that every client will be inform prior making an account. If they will not inform in advance their clients about KYC procedures then it is clear that there is an intent to steal.
I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!
Why they allow them to deposit before Complete KYC
They say we follow the law Does the law recommend doing so? Something weird!
Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!
what I think from like this exchanges They want Attract Volume Without regard to the interest of users
I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!
Why they allow them to deposit before Complete KYC
They say we follow the law Does the law recommend doing so? Something weird!
Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!
what I think from like this exchanges They want Attract Volume Without regard to the interest of users
I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !
They'll probably answer you with some statement like : "We have described that deposit doesn't require KYC but withdrawal does, here and there, so the fault is in our customer". I know several exchanges who did this, and sadly they don't even give notifications when users are trying to deposit that if they wish to withdraw they have to do KYC first.
I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!
Why they allow them to deposit before Complete KYC
They say we follow the law Does the law recommend doing so? Something weird!
Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!
what I think from like this exchanges They want Attract Volume Without regard to the interest of users
I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!
Why they allow them to deposit before Complete KYC
They say we follow the law Does the law recommend doing so? Something weird!
Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!
what I think from like this exchanges They want Attract Volume Without regard to the interest of users
I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !
This is an old practice that exchanges do so they can force you to undergo KYC, sone exchanges impose minimum amount even if you did not go KYC, the moment you use their platform you need to go through KYC and of course since you are withdrawing your funds you have no choice but to undergo, so only deposit on exchange that you trust that you will not have second thought to undergo KYC because it is something that you should expect, the moment you use an exchange.
Today when I tried to login localbitcoins even there also I have found KYC verification with my personal details. It is really bad opinion and understanding by the exchanges to collect the information of the individuals who have been part of their exchange.
They should give some leniency for user wants to stay anonymous with some limits.
If you want to monitor the cryptocurrency using centralised monitoring system means it is really useless.
Theres nothing we can do if these services would ask out KYC verifications and they wont really mind if your are an old or new user yet they do already set out some policies which should really be followed.Its really awful to switch up into this verifying system that's why we wont have any options but to comply if we do wish to continue to use up their service. They should give some leniency for user wants to stay anonymous with some limits.
If you want to monitor the cryptocurrency using centralised monitoring system means it is really useless.
Today when I tried to login localbitcoins even there also I have found KYC verification with my personal details. It is really bad opinion and understanding by the exchanges to collect the information of the individuals who have been part of their exchange.
They should give some leniency for user wants to stay anonymous with some limits.
If you want to monitor the cryptocurrency using centralised monitoring system means it is really useless.
They should give some leniency for user wants to stay anonymous with some limits.
If you want to monitor the cryptocurrency using centralised monitoring system means it is really useless.
I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!
Why they allow them to deposit before Complete KYC
They say we follow the law Does the law recommend doing so? Something weird!
Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!
what I think from like this exchanges They want Attract Volume Without regard to the interest of users
I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!
Why they allow them to deposit before Complete KYC
They say we follow the law Does the law recommend doing so? Something weird!
Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!
what I think from like this exchanges They want Attract Volume Without regard to the interest of users
I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !
They'll probably answer you with some statement like : "We have described that deposit doesn't require KYC but withdrawal does, here and there, so the fault is in our customer". I know several exchanges who did this, and sadly they don't even give notifications when users are trying to deposit that if they wish to withdraw they have to do KYC first.
Unless there's public information about their team, it's not really that bad. The bad news is when the exchange you use doesn't have any public info, therefore it's almost impossible to sue them. And in the end, you lost your money. There's no one will help in this case, so let's be wary and only use exchanges that don't look suspicious.
The concept of decentralization dies due to KYS
They'll probably answer you with some statement like : "We have described that deposit doesn't require KYC but withdrawal does, here and there, so the fault is in our customer". I know several exchanges who did this, and sadly they don't even give notifications when users are trying to deposit that if they wish to withdraw they have to do KYC first.
If the exchanges are really that unfair with their KYC procedures then it would be much better if we check their services before joining or by not sending our assets first as it more likely we will lose out assets if we could not complete their KYC during the withdrawal. This is really not fair and they should lose their reputation and it would be better if you mention the name of that exchanges.
2 months for this thread to be inactive and you decide to bump it up? Thats simply a necroposting thing which you should avoid on the future to avoid up some problems but since this topic is still worth to be discussed on then i dont see anything wrong with this.Why people cant simply just use up that google.com and type which exchange is the most popular nowadays? Why do people do still end up on using unpopular exchangers? which you can clearly select out which one is being used mostly by the community.
If the exchanges are really that unfair with their KYC procedures then it would be much better if we check their services before joining or by not sending our assets first as it more likely we will lose out assets if we could not complete their KYC during the withdrawal. This is really not fair and they should lose their reputation and it would be better if you mention the name of that exchanges.
I find now exchanges becoming even worse like Latoken exchange. It did not ask for KYC when I had to deposit but asked it when I wanted to trade/withdraw. It needed verification level 2 which needs selfie plus passport and this wasn't mentioned earlier as there was a restriction only on the trading volume and withdrawal limit.
Binance has been hacked and user's KYC details have been leaked online like selfie details and all. They appear to be a shady exchange now.
I think it's only Binance among the popular exchange that I know where you can trade even without KYC ...
Binance has been hacked and user's KYC details have been leaked online like selfie details and all. They appear to be a shady exchange now.
That should be observed briefly before implementation of KYC, it's not significant requiring personal data for each users as long as it won't reach huge amount transactions. There must be a catergory which will be applied on some traders, depending on their asset to be withdrawn from exchange site.
I think it's only Binance among the popular exchange that I know where you can trade even without KYC but up to a certain limit only.Some exchange like Bittrex requires you to comply with the KYC regardless of the amount you will trade, and for me, in order to be safe, the government should fully implement a full KYC requirement for every exchange and exchange should be very careful in handing our information with authorities overseeing the exchange to ensure they will not leak any information that would be risky for us traders.
in fact, in my opinion, the main function of Kyc is to avoid fraudsters in the crypto world, but the more here I see the more complicated, even I have tried an exchange using Kyc, but it has always been rejected, even though it is in accordance with the previous list if many people are disappointed with the method.
No, the task of verifying KYC is only the fight against money laundering and the fight against the financing of terrorism. The fight against fraud, and especially the fight against multiple accounts in this forum, does not have and should not have anything to do with KYC verification. Using such a check for another purpose would be illegal, as confidential data of citizens is collected here.As for the exchanges, they will be forced to obey the general rules of regulation of cryptocurrency. The Intergovernmental Organization for Financial Action (FATF) on June 21 adopted binding recommendations that all individuals who send transactions in excess of one thousand dollars must pass a KYC check. That is, to avoid such verification, it will be necessary to send transactions in the amount less than a thousand dollars.
That should be observed briefly before implementation of KYC, it's not significant requiring personal data for each users as long as it won't reach huge amount transactions. There must be a catergory which will be applied on some traders, depending on their asset to be withdrawn from exchange site.
This is a topic which should e more known in crypto community. I personally got trapped in such situation, the token amount was small .
I later red that this is a norm for a lot of exchanges. It makes sense from some stand points, they are just trying to comply with KYC. By depositing the tokens you are using their exchange to some extent and they have to tak care of KYC.
IN grand view of things, this is stupid. The KYC should be implemented starting from some amount of withdraw whichcould e the same as in place of banking laws - if i remember right, it was aprox 200 Euros .
I later red that this is a norm for a lot of exchanges. It makes sense from some stand points, they are just trying to comply with KYC. By depositing the tokens you are using their exchange to some extent and they have to tak care of KYC.
IN grand view of things, this is stupid. The KYC should be implemented starting from some amount of withdraw whichcould e the same as in place of banking laws - if i remember right, it was aprox 200 Euros .
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