For me, it all boils down to how much. While I value my personal information, a significant amount, say, $500, might actually force me to give them up.
It's a shame to share here that I actually complied KYC with HitBTC several years ago when my account was suddenly deactivated for being inactive for too long. Since I got a significant amount stuck there, I was forced to submit personal information. I used to chase certain tokens to their exchanges. That was way back when even the shittiest of coins would give you a lot of money.
But without a good amount at stake, I'd rather forget about my account than pass KYC. I abandoned my Binance account when they implemented KYC as a matter of requirement. I also forgot my funds stuck in my KuCoin account when I failed to restore it after I lost access to my 2FA.
Topic: An interesting thought / discussion about exchanges without KYC (Read 112 times)
September 23, 2022, 01:56:42 PM
Back in the early 2019 I sent pretty decent amount of stablecoin to Binance in order to stock up on bitcoin, and while waiting for the right time to buy, my mobile phone died leaving me without the access to Google authenticator.
I don't know what you are doing now with your 2fa codes, but I would suggest switching to Aegis app (instead of Google authenticator) and doing backup on different device like your computer.You can even use KeePass as reserve option for storing backup codes in case something happens with your phone again.
At least for me I now have more secure backups of my 2fa info for important stuff. But, it took destroying 2 phones back to back for me to figure that out.
But, I still wonder if for some reason KYC works for people and they really don't mind it or even prefer it.
Let me be clear, I don't like KYC I don't like regulation. I also fully understand, and have even made posts about how some people do prefer it. I am really trying to figure out the mindset of people that do.
I can disagree without saying they are wrong, just that we have different views. But, I really find some of the views interesting, some in a way I really can't fault, if it works for them.
-Dave
September 23, 2022, 10:50:02 AM
I don't know what you are doing now with your 2fa codes, but I would suggest switching to Aegis app (instead of Google authenticator) and doing backup on different device like your computer.
You can even use KeePass as reserve option for storing backup codes in case something happens with your phone again.
I am still using Google authenticator, but I am way more careful with the recovery codes. I heard about Aegis app but never really bothered to check it out properly, which I might do soon and maybe switch to it.You can even use KeePass as reserve option for storing backup codes in case something happens with your phone again.
This is much better option and I prefer it myself, but there are different risks involved with this method.
Yeah I know that there are risks for that method as well but I am being careful who I am meeting with, where and when and so far I didn't have any issues whatsoever. 
September 23, 2022, 10:36:37 AM
So, eliminating the exchange blocking you, it's something you did, how far would would you go down the KYC path to get access back to an exchange account for how much money?. And would it matter about the exchange. Taking CoinEx they have been around for years and have a fairly good reputation, I would be more willing to give them some info about me then some other ones.
I would be careful with CoinEx, they look ok for now and I think they are connected with one mining pool, but like any other centralized exchange they can easily freeze your account.If I want to exchange larger amount of money I would first look for direct p2p trading, and if that wouldn't work than I would be ready to pass kyc if asked by exchange.
Back in the early 2019 I sent pretty decent amount of stablecoin to Binance in order to stock up on bitcoin, and while waiting for the right time to buy, my mobile phone died leaving me without the access to Google authenticator.
I don't know what you are doing now with your 2fa codes, but I would suggest switching to Aegis app (instead of Google authenticator) and doing backup on different device like your computer.You can even use KeePass as reserve option for storing backup codes in case something happens with your phone again.
That was the only exchange I ever did KYC, and will probably stay like that since I totally gave up on trading and I found better (and cheaper) ways to buy/sell bitcoin (mostly its directly from someone IRL).
This is much better option and I prefer it myself, but there are different risks involved with this method. September 23, 2022, 09:09:21 AM
So, eliminating the exchange blocking you, it's something you did, how far would would you go down the KYC path to get access back to an exchange account for how much money?. And would it matter about the exchange. Taking CoinEx they have been around for years and have a fairly good reputation, I would be more willing to give them some info about me then some other ones.
Back in the early 2019 I sent pretty decent amount of stablecoin to Binance in order to stock up on bitcoin, and while waiting for the right time to buy, my mobile phone died leaving me without the access to Google authenticator. Since I couldn't find that recovery thing, the only other way to regain the access was to go through KYC which I eventually did because I was certain that it was a great time to buy cheap bitcoin and amount was far from negligent. Looking back, I think I did the right thing as I managed to buy bitcoin at ~$3400 which proved to be a great price so in the end I don't regret doing that and I learned a couple of lessons on how to be more responsible when it comes to 2FA. I also lost access to a couple of other exchanges like Bittrex and Kucoin but the amount there (like few hundreds of dollars on each exchange) wasn't worth it to go through KYC so I just abandoned those accounts.That was the only exchange I ever did KYC, and will probably stay like that since I totally gave up on trading and I found better (and cheaper) ways to buy/sell bitcoin (mostly its directly from someone IRL).
September 23, 2022, 06:40:31 AM
So @Ratimov started this thread: https://bitcointalksearch.org/topic/--5414539
and in it and @BitMaxz https://bitcointalksearch.org/topic/m.60990161 made the comment about needing to KYC himself to regain access to the account.
Since I did not want to clutter up that thread with a tangent discussion I opened this one.
So, eliminating the exchange blocking you, it's something you did, how far would would you go down the KYC path to get access back to an exchange account for how much money?. And would it matter about the exchange. Taking CoinEx they have been around for years and have a fairly good reputation, I would be more willing to give them some info about me then some other ones.
Discussion point 2, dealing with KYC exchanges do you think / have you found things like account recovery would be / are easier? Eliminating the Coinbase sucks part of this, I lost access to a few things due to having both of my 2FA devices die almost back to back. With anyplace that knew who I was due to KYC it was easier to get access back then those that did not. A few places I just abandoned and re-created accounts since I had no funds in them. But, I am only a single data point, just wondering about other peoples feelings and experiences.
-Dave
and in it and @BitMaxz https://bitcointalksearch.org/topic/m.60990161 made the comment about needing to KYC himself to regain access to the account.
Since I did not want to clutter up that thread with a tangent discussion I opened this one.
So, eliminating the exchange blocking you, it's something you did, how far would would you go down the KYC path to get access back to an exchange account for how much money?. And would it matter about the exchange. Taking CoinEx they have been around for years and have a fairly good reputation, I would be more willing to give them some info about me then some other ones.
Discussion point 2, dealing with KYC exchanges do you think / have you found things like account recovery would be / are easier? Eliminating the Coinbase sucks part of this, I lost access to a few things due to having both of my 2FA devices die almost back to back. With anyplace that knew who I was due to KYC it was easier to get access back then those that did not. A few places I just abandoned and re-created accounts since I had no funds in them. But, I am only a single data point, just wondering about other peoples feelings and experiences.
-Dave
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