About my safety on exchange - page 2.

Dunamisx

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Quote from: KiaKia on August 31, 2022, 04:26:35 PM

Thanks for your replies I am now using Huobi and Bitgert, they don't make KYC 100% compulsory

That means you still have lot of lapses regarding that because they are centralized exchanges and can at any fucking time demand for KYC, expose you to government or got your assets lost completely if they were attacked, why not use a decentralized exchange and remain safe just as advised by o_e_l_e_o here you can independently had access to your coins without barriers at any point in time since you're in possession of the keys to get them even if you have a change in device used.

o_e_l_e_o

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Quote from: Rengga Jati on August 31, 2022, 05:32:36 PM

You can still do transactions and withdrawals although you are not doing KYC verification, but it will limit you to only 5BTC maximum in a day. If this is enough, I think it is enough for you.

As I pointed out earlier in this thread, you should only use a non-KYC account on KuCoin if you would be happy to complete KYC if you needed to to get back all the coins you are storing on their exchange, or alternatively happy to simply abandon all the coins you are storing on their exchange. Every centralized exchange which offers non-KYC accounts has the ability to demand KYC from any user at any time, and will lock your account and seize your coins unless you comply. If you don't comply, your coins are lost.

So yes, you can use KuCoin without KYC, but you are at constant risk of either having to complete KYC or losing everything you have on your account.

Far better to use DEXs which never request KYC and do not have the ability to seize your coins.

Rengga Jati

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Quote from: KiaKia on April 18, 2022, 01:00:30 AM

Hello 👋 how can I buy coins from a exchange without submitting my national Identity card or BVN number? As for those who did this how safe is it? I don't have anything against verification but I am not sure its safe or am I wrong about its safety?.

This is normal, there are concerns about the security of personally identifiable data requested for KYC on exchange platforms. Because we really don't know and they also may not be able to guarantee 100% data security.
As long as I know, Kucoin is one of the top exchanges that has several steps or levels of verification.
You can still do transactions and withdrawals although you are not doing KYC verification, but it will limit you to only 5BTC maximum in a day. If this is enough, I think it is enough for you.

Quote

Verification Level     Daily Withdrawal Limit
Unverified      5 BTC
KYC1       200 BTC
KYC2       up to 3000 BTC

You can read more here: Kucoin: KYC Guide

KiaKia

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Thanks for your replies I am now using Huobi and Bitgert, they don't make KYC 100% compulsory

o_e_l_e_o

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Quote from: YOSHIE on April 19, 2022, 12:59:14 PM

One more question, why are you so afraid of the rules and the KYC system, are you committing a violation of law or a crime, that you are so afraid of an exchange that asks for your real identity, if you don't have any problem in your country I think KYC is not a big problem for you.

Can we please stop repeating this incredibly incorrect notion that the only people who care about privacy must be criminals, and that only criminals care about their privacy? I don't have anything to hide, but I also don't have anything I want to share with anybody and everybody who is interested. You probably don't do anything illegal in your house, but you still have curtains on your windows. You probably don't do anything illegal online, but you still don't publish your browser history on your Facebook profile. The whole point of bitcoin is to not have random strangers and third parties start sticking their noses in to your private affairs, not to mention the massive security risk that comes with completing KYC.

Privacy is a fundamental human right. Without privacy, there is no freedom.

Allow me to quote myself from a few years ago:

Quote from: o_e_l_e_o on January 02, 2020, 03:47:38 AM

I don't need to spend a lot of time dismantling the "nothing to hide" argument, because it is already widely discredited. I will share one of my favorite quotes on the topic though:

Quote from: Glenn Greenwald

The old cliché is often mocked though basically true: there’s no reason to worry about surveillance if you have nothing to hide. That mindset creates the incentive to be as compliant and inconspicuous as possible: those who think that way decide it’s in their best interests to provide authorities with as little reason as possible to care about them. That’s accomplished by never stepping out of line. Those willing to live their lives that way will be indifferent to the loss of privacy because they feel that they lose nothing from it. Above all else, that’s what a Surveillance State does: it breeds fear of doing anything out of the ordinary by creating a class of meek citizens who know they are being constantly watched.

YOSHIE

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Quote from: KiaKia on April 18, 2022, 01:00:30 AM

Hello 👋 how can I buy coins from a exchange without submitting my national Identity card or BVN number? As for those who did this how safe is it? I don't have anything against verification but I am not sure its safe or am I wrong about its safety?.

Almost all crypto exchanges operating worldwide are required to perform KYC verification, to comply with the applicable laws and regulations in your country.

I will cite how important KYC is to crypto clients and exchanges.

Quote

Customers are usually required to submit KYC details during account opening and at times when information changes. For example, if you legally change your name a few months after creating your account, you will be asked to update your KYC information.

If you do not complete the KYC process, you may not be able to access all features on the cryptocurrency exchange. For example, Binance.com allows customers to create accounts, use basic functions and perform limited transactions without submitting KYC information. To get full access and upgrade to higher deposit and withdrawal limits, customers must complete KYC verification.

Conclusion: From the quote above and adapted to your question, it is quite the opposite, most of us here exchange with the KYC process is safer than not implying KYC.

However, if you still want to buy crypto without KYC, you can buy it in trust wallet or metamask, but you still can't cash out in fiat form, only limited to buying it, so just buy crypto in your local area with KYC rules, it's safer for you.

One more question, why are you so afraid of the rules and the KYC system, are you committing a violation of law or a crime, that you are so afraid of an exchange that asks for your real identity, if you don't have any problem in your country I think KYC is not a big problem for you.

MidNite36

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There are still many exchanges that works without the need to pass KYC, you will only be restricted with a daily limit like 2BTC per day, here are lists of exchanges that allows trading and withdrawal without KYC verification.

1. Bitmart
2. Kucoin
3. Gate.io
4. CoinEX
5. Hoo exchange
6. Bitglobal

BD Crypto

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There are some decentralized exchanges where you have no need to submit kyc documents and you can buy coins with the most security. Some centralized exchanges also have opportunity to buy coins without kyc verification.

o_e_l_e_o

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Quote from: bittraffic on April 18, 2022, 10:10:38 AM

I see now problem with buying BTC from localbitcoins and localcryptop

LocalBitcoins has required KYC for years. I've never heard of anyone ever being requested to complete KYC on LocalCryptos, and I use it semi-regularly without KYC. Do you information to the contrary?

Quote from: bittraffic on April 18, 2022, 10:10:38 AM

or even on some dex

If an exchange says that it is a DEX but asks for KYC, then it isn't a DEX. It's a simple as that. If there is a centralized entity which is collecting KYC data, then the exchange is centralized.

Quote from: Daodex on April 18, 2022, 10:14:55 AM

There is nothing wrong in KYC

You mean apart from risking identity theft and having literally your entire life ruined? Why KYC is extremely dangerous – and useless

Daodex

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There is nothing wrong in KYC but just make sure you choose your exchange wisely, I use binance exchange and its been like 4 years already that I've passed KYC on the exchange even when they don't force KYC on their users, anyways you can still use Kucoin and CoinEX exchanges without having to pass KYC verification.

bittraffic

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Its not safe on centralized exchanges if you plan to buy in huge amount. The moment they figure, you are buying bit by bit, they'd suspect its what you are doing. It's the usual thing already.

I see now problem with buying BTC from localbitcoins and localcrypto, or even on some dex, its the cashing out that you might encounter problems if you are a very private person. Most of those platforms are going to ask KYC like it or not. They may ask where your source of funds or employment pay slip for the last 3 months.

dkbit98

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Quote from: KiaKia on April 18, 2022, 01:00:30 AM

how can I buy coins from a exchange without submitting my national Identity card or BVN number? As for those who did this how safe is it? I don't have anything against verification but I am not sure its safe or am I wrong about its safety?.

You can use some centralized exchanges that still have no-kyc tier with some limitations, for example Kucoin, but there is always a risk of your account being frozen and your coins confiscated for any reason.
To be fair, this could all happen with all other centralized exchanges even if you pass verification and send them all documents, or they can be hacked resulting in losing your coins.
Best thing you can do is using decentralized exchanges like Bisq, or P2P and face-to-face trading in your local area.
There are always risk with all trades, and all you can do is minimize it best you can.

cryptoaddictchie

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Quote from: Darker45 on April 18, 2022, 06:48:51 AM

Trades are not accessible to unverified users. It may not necessarily be the case in actual individual accounts, like mine that is unverified but has 160,000 BUSD daily limit, but the official policy is that Binance services are only exclusive to those who have passed KYC.

I dont know, maybe for new users, cause I have a dummy account for binance which I am using for future tradings. Somehow, I can use it for leverage trading. But I didnt actually using it for withdrawal but only transfering via spot to spot to my main account and mostly using main cryptocurrency. I said so, cause Ive been using it. Based on my actual experience.

Darker45

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Quote from: cryptoaddictchie on April 18, 2022, 06:37:17 AM

Quote from: KiaKia on April 18, 2022, 01:00:30 AM

Hello 👋 how can I buy coins from a exchange without submitting my national Identity card or BVN number? As for those who did this how safe is it? I don't have anything against verification but I am not sure its safe or am I wrong about its safety?.

Use dex instead of cex to avoid submission of kyc. But if you are fond of using a limit style trading then trade on cex that dont need kyc. Binance and kucoin can accomodate some of daily trades even without kyc but of course it is limited.

I'm afraid you're wrong. While KuCoin has a certain limit for unverified users, Binance doesn't. Binance requires that every single user has passed identity verification, intermediate identity verification. KYC with Binance is compulsory. Trades are not accessible to unverified users. It may not necessarily be the case in actual individual accounts, like mine that is unverified but has 160,000 BUSD daily limit, but the official policy is that Binance services are only exclusive to those who have passed KYC.

cryptoaddictchie

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Quote from: KiaKia on April 18, 2022, 01:00:30 AM

Hello 👋 how can I buy coins from a exchange without submitting my national Identity card or BVN number? As for those who did this how safe is it? I don't have anything against verification but I am not sure its safe or am I wrong about its safety?.

Use dex instead of cex to avoid submission of kyc. But if you are fond of using a limit style trading then trade on cex that dont need kyc. Binance and kucoin can accomodate some of daily trades even without kyc but of course it is limited.

sunsilk

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As mentioned, only a few of them really would allow you to purchase it without passing on their KYC. So aside from those given p2p exchanges, you can do it actually in your locality if you ever find your crypto community near you.

That removes the anonymity since you get to know those people and as well as you but it's completely direct transactions and payments upon meetup although there's a risk on this one. So the trick is to meet up near police station or in a crowded place.

Quote from: Blank-Head on April 18, 2022, 04:09:13 AM

You can buy tokens in kocain

You mean kucoin.

Desmong

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Quote from: KiaKia on April 18, 2022, 01:00:30 AM

Hello 👋 how can I buy coins from a exchange without submitting my national Identity card or BVN number? As for those who did this how safe is it? I don't have anything against verification but I am not sure its safe or am I wrong about its safety?.

You don't have to bother yourself much cause their are exchanges that forms not ask for all those private details from customers. Popular exchanges like Binance, Crypto.com etc will always ask for your credentials doing KYC which is the main reason why many crypto investors do not use exchange to buy or sell their cryptocurrency. Their are few exchanges like Kucoin that requires simple verification not compared to the normal KYC that needs important details.

mk4

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If you're referring to the typical exchanges like Binance and Coinbase, then you really can't; unless you're planning on exchange token <-> token.

Your only choice if you don't want KYC is to use peer-to-peer exchanges like LocalCryptos[1] and HodlHodl[2].

[1] https://localcryptos.com/
[2] https://hodlhodl.com/

Blank-Head

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You can buy tokens in kocain or Hotbit without a National Identity Card number. But it can be done for a few things but you will see that these are safer if you have to do KYC. No exchanger is safe without KYC. So if you buy through what happened then you will be safe enough.

o_e_l_e_o

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Don't use localbitcoins as suggested above. It might be peer to peer, but it is centralized and will absolutely require KYC and other information from you.

Quote from: Hyphen(-) on April 18, 2022, 03:13:34 AM

but those ones do not, and they are safe.

There is no centralized exchange in existence which is entirely safe, and even ones which offer non-KYC accounts such as KuCoin can and frequently do lock accounts and confiscate coins while they demand KYC. If you aren't comfortable submitting KYC, then you need to avoid all centralized exchanges.

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