about exchanges kyc withdraw! - page 4.

creeps

full member

Activity: 742

Merit: 144

Quote from: elda34b on February 01, 2019, 11:32:19 PM

Quote from: Spider A4 on February 01, 2019, 10:00:12 AM

Big volume exchange binance you can deposit and withdraw without KYC (withdrawal limitation) very interesting experience.

In other words, you can launder your money (2 BTC) for free Cheesy

It's a common practice on several exchanges, maybe do to regulation and stuff, but yeah it's very annoying when you don't know that withdrawal require KYC, and weirdly there is no information about it when you want to deposit. I know they have terms that we can read but somehow it looks like they deliberately leave it like that so some people will fall for this 'trap'.

Probably part of their marketing strategies since a lot of investors don't want to fill up KYC for security purposes and when they deposit money, they have no more choice but to fill up the KYC or else their money will be stock on that exchange. Binance is one of the friendly exchanges who don't ask you for any KYC form, you try to use this exchange that to invest on no trusted exchanges.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: sheenshane on January 31, 2019, 11:42:05 PM

Quote from: Kemarit on January 31, 2019, 07:45:24 AM

snip-
Personally, I was a victim in the past as well, was pissed off, but I have to obliged though. Now, I'm very careful before depositing or trading any coins in a exchange and read carefully their TOS.

That is the reason why before entering an exchange or every service, you have to study and read the policy manually and carefully.
You are a victim of their trap they have already planned since then. It's a kind of marketing though. I remember a meme where there is an executive offering a free ride from a hot air balloon. Once you're there flying and you are starting to get crazy in the air and would like to go down, that is the time where they will charge you. Without any choice, you will definitely pay to go back to the ground. It's a perfect analogy. It's a trap, it's a business.

Yeah, that's why I'm stop trading for a while back then, like 6 months and really be cautious of every trading exchanges I used ever since. Categorically, its a trap that I didn't see or smell from afar, but the good thing is that I learn my lessons well and never experienced the same frustrations again in any exchanges.

jakezyrus

full member

Activity: 714

Merit: 100

Quote from: jrrsparkles on February 02, 2019, 01:08:42 PM

Quote from: elda34b on February 01, 2019, 11:32:19 PM

Quote from: Spider A4 on February 01, 2019, 10:00:12 AM

Big volume exchange binance you can deposit and withdraw without KYC (withdrawal limitation) very interesting experience.

In other words, you can launder your money (2 BTC) for free Cheesy

It's a common practice on several exchanges, maybe do to regulation and stuff, but yeah it's very annoying when you don't know that withdrawal require KYC, and weirdly there is no information about it when you want to deposit. I know they have terms that we can read but somehow it looks like they deliberately leave it like that so some people will fall for this 'trap'.

Its a big trap tho Cheesy

I really don't deposit any money directly into exchanges before reading their terms and conditions but lot others do that in a hurry and end up losing their money by failing to do what they were asking for verification.Being a big money holder always risky.

terms and conditions are long . that's the reason why people skip them because they are too lazy to read the whole text . meanwhile , kyc's are not a trap whatsoever because kyc's are an important rule that needs to be implemented by an exchange to avoid further violations . this is beneficial for both parties . so stop complaining guys . if you dont want kyc then hunt for other exchange that does not have that feature .

detector

full member

Activity: 484

Merit: 124

★

Every exchange want to protect people from harm , yes I can understand that it's broke crypto decentralized but when we decide to trade into some platform, we can't decide to forbid their policy.

We only can decide to keep trading or resign !!

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: BLAST2MARS on February 04, 2019, 04:15:07 PM

Quote from: omer-jamal on January 04, 2019, 04:49:56 PM

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 !

What is the name of the exchange you are talking about? Because I don't know if you are aware that before you register, they tell you the only amount you can withdraw from them like 2 btc normally because if it is more than that then you need to pass their KYC.

You are talking about binance,but there are some exchanges have no restrictions so people need to research before registering and also they need to check the legitimact of exchanges even if it is CEX or DEX.

BLAST2MARS

full member

Activity: 490

Merit: 100

Quote from: omer-jamal on January 04, 2019, 04:49:56 PM

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 !

What is the name of the exchange you are talking about? Because I don't know if you are aware that before you register, they tell you the only amount you can withdraw from them like 2 btc normally because if it is more than that then you need to pass their KYC.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: jrrsparkles on February 02, 2019, 01:08:42 PM

Quote from: elda34b on February 01, 2019, 11:32:19 PM

Quote from: Spider A4 on February 01, 2019, 10:00:12 AM

Big volume exchange binance you can deposit and withdraw without KYC (withdrawal limitation) very interesting experience.

In other words, you can launder your money (2 BTC) for free Cheesy

It's a common practice on several exchanges, maybe do to regulation and stuff, but yeah it's very annoying when you don't know that withdrawal require KYC, and weirdly there is no information about it when you want to deposit. I know they have terms that we can read but somehow it looks like they deliberately leave it like that so some people will fall for this 'trap'.

Its a big trap tho Cheesy

I really don't deposit any money directly into exchanges before reading their terms and conditions but lot others do that in a hurry and end up losing their money by failing to do what they were asking for verification.Being a big money holder always risky.

Well, if you are too keen about of your personal security and likely to tweak your settings then you can see that KYC thing in there already. Before i start to use my wallet in exchanges or even deposit i will just check the securities in it and other verification required to secure your wallet. Those who just deposited their cryptos probably just missed that thing in there.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: elda34b on February 01, 2019, 11:32:19 PM

Quote from: Spider A4 on February 01, 2019, 10:00:12 AM

Big volume exchange binance you can deposit and withdraw without KYC (withdrawal limitation) very interesting experience.

In other words, you can launder your money (2 BTC) for free Cheesy

It's a common practice on several exchanges, maybe do to regulation and stuff, but yeah it's very annoying when you don't know that withdrawal require KYC, and weirdly there is no information about it when you want to deposit. I know they have terms that we can read but somehow it looks like they deliberately leave it like that so some people will fall for this 'trap'.

Its a big trap tho Cheesy

I really don't deposit any money directly into exchanges before reading their terms and conditions but lot others do that in a hurry and end up losing their money by failing to do what they were asking for verification.Being a big money holder always risky.

elda34b

sr. member

Activity: 910

Merit: 351

Quote from: Spider A4 on February 01, 2019, 10:00:12 AM

Big volume exchange binance you can deposit and withdraw without KYC (withdrawal limitation) very interesting experience.

In other words, you can launder your money (2 BTC) for free Cheesy

It's a common practice on several exchanges, maybe do to regulation and stuff, but yeah it's very annoying when you don't know that withdrawal require KYC, and weirdly there is no information about it when you want to deposit. I know they have terms that we can read but somehow it looks like they deliberately leave it like that so some people will fall for this 'trap'.

Spider A4

full member

Activity: 657

Merit: 100

Also this is my question in KYC require exchange we can easily deposit but when we are going to withdraw they asking 2fa authentication and government documents which you have. Big volume exchange binance you can deposit and withdraw without KYC (withdrawal limitation) very interesting experience.

iMark

sr. member

Activity: 1162

Merit: 251

Quote from: bering on January 10, 2019, 02:06:21 AM

Most of exchange currently required KYC to get verified accounts and if we want to used them then nothing we can do besides following their policy and before use particular exchange i think you have to find some review from other users regarding term of service from those exchange that they use KYC or not and i think necessary especially if you want to avoid KYC

I think so, it seems like almost all exchanges are starting to do that. they want to know your identity, for what function?
but it's a bit annoying to me, because users want privacy but have to verify data to get a verified account in exchange ?

sheenshane

legendary

Activity: 2492

Merit: 1232

Quote from: Kemarit on January 31, 2019, 07:45:24 AM

snip-
Personally, I was a victim in the past as well, was pissed off, but I have to obliged though. Now, I'm very careful before depositing or trading any coins in a exchange and read carefully their TOS.

That is the reason why before entering an exchange or every service, you have to study and read the policy manually and carefully.
You are a victim of their trap they have already planned since then. It's a kind of marketing though. I remember a meme where there is an executive offering a free ride from a hot air balloon. Once you're there flying and you are starting to get crazy in the air and would like to go down, that is the time where they will charge you. Without any choice, you will definitely pay to go back to the ground. It's a perfect analogy. It's a trap, it's a business.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: semobo on January 17, 2019, 03:43:47 PM

No exchange is going to stop us from depositing any amount of money into their wallets because they are going to get benefit from it but when people want to withdraw it they need to pass the certain withdrawal limits by providing appropriate details like personal information with government ID and much more like that. If you want to use that changes you need to agree the terms and conditions I just find an exchange which meets your criteria.

But the problem sometimes is that traders doesn't read those TOS and gets excited to see their coins listed on any exchanges deposit it and then when they're about to withdraw, disappointment because you don't have a choice but to give them your damn personal data just to get your money.

Personally, I was a victim in the past as well, was pissed off, but I have to obliged though. Now, I'm very careful before depositing or trading any coins in a exchange and read carefully their TOS.

joniboini

legendary

Activity: 2170

Merit: 1789

Quote from: cellard on January 26, 2019, 11:00:29 PM

I would only risk giving them a picture of me holding my ID if it was an strictly regulated business by a first world country, and still there's just something that I don't like about it. I don't remember ever having the need to do that to deal with the government. I guess that is needed when you are dealing with an international government tho, there doesn't seem to be a escape out of it. All centralized exchanges will need KYC eventually.

Yeah, I'm pretty sure centralized exchange or those "decentralized" exchanges will eventually require us to do KYC. I'm starting to be a bit paranoid because in the past I'm doing KYC recklessly just to liquidate my shitcoin, but now I'm starting to think that atomic swap and anonymous exchange is needed so badly :/

Maybe I'll only do KYC at one or two exchanges (which fall under my government regulation) because I need to liquidate my crypto to fiat. But I won't do any more KYC for exchanges that are not popular, don't have a public team and very suspicious.

cellard

legendary

Activity: 1372

Merit: 1252

It's never going to be worth risking your personal information all over the dark web just to trade some altcoins. They want your picture holding your ID, that is insanity. All those altcoin exchanges are just so dodgy. When they start getting bigger they start asking for KYC. I understand they need to do so to stay in business if it's hosted in certain jurisdictions.

I would only risk giving them a picture of me holding my ID if it was an strictly regulated business by a first world country, and still there's just something that I don't like about it. I don't remember ever having the need to do that to deal with the government. I guess that is needed when you are dealing with an international government tho, there doesn't seem to be a escape out of it. All centralized exchanges will need KYC eventually.

semobo

full member

Activity: 1498

Merit: 146

No exchange is going to stop us from depositing any amount of money into their wallets because they are going to get benefit from it but when people want to withdraw it they need to pass the certain withdrawal limits by providing appropriate details like personal information with government ID and much more like that. If you want to use that changes you need to agree the terms and conditions I just find an exchange which meets your criteria.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: magneto on January 16, 2019, 03:31:09 AM

You're absolutely right, and it's great that you're bringing this topic up because I think it's definitely been underdiscussed.

Not only are there exchanges that ask you for KYC information only when you withdraw, there are also sportsbooks, casinos, and hosted wallets that do the same thing. A remember that a recent case is with Changenow.io, with them asking for identification on a customer that actually had quite a large transaction with them even though they used to advertise themselves as anonymous.

None of them will ever ask you to offer verification documents before you want to get funds out of their platform.

IMHO, these sites are completely untrustworthy and unprofessional, and should be avoided even if you are willing to provide them. It seems like a blatant excuse to hold funds in the name of KYC. A lot of the times, they aren't even legally obligated to do this, even though they argue this way.

If you want to implement KYC, do so before any deposits can be made. Don't do it after.

The question is? How you would able to select if you arent aware if that's their way of asking KYC unless if you do able to read up feed backs about that then we can eventually avoid it

I do remember the recent case of Changenow and im aint surprise that most of similar services would really act just the same where claiming to be anonymous then suddenly they turn
into the opposite way.When you do caught in the middle you wont really have any option but to do that KYC. It sucks but you wont really have any choice.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: omer-jamal on January 04, 2019, 04:49:56 PM

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 !

You're absolutely right, and it's great that you're bringing this topic up because I think it's definitely been underdiscussed.

Not only are there exchanges that ask you for KYC information only when you withdraw, there are also sportsbooks, casinos, and hosted wallets that do the same thing. A remember that a recent case is with Changenow.io, with them asking for identification on a customer that actually had quite a large transaction with them even though they used to advertise themselves as anonymous.

None of them will ever ask you to offer verification documents before you want to get funds out of their platform.

IMHO, these sites are completely untrustworthy and unprofessional, and should be avoided even if you are willing to provide them. It seems like a blatant excuse to hold funds in the name of KYC. A lot of the times, they aren't even legally obligated to do this, even though they argue this way.

If you want to implement KYC, do so before any deposits can be made. Don't do it after.

timoshani

member

Activity: 476

Merit: 12

https://imgur.com/1d0UcY0

I didn't find such an exchange platform which are required KYC. I can propose to use in future some alternative exchange service which will be used modern technology to make fast and safety transaction. I think DEXAGE will one of such platform.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

What exchange are we talking about?
Please tell us before going any further.

KYC regulations come into play at time of account opening. Before the customer is allowed to make the smallest deposit. If it's not that way, it's most probably a scam. Run away fast, and let us know who are those bad guys, so that everybady can avoid them.

Topic: about exchanges kyc withdraw! - page 4. (Read 1368 times)