Of course, such an act really need verification. That's money we're talking about, let's just compare to other sites that you really need a full verification of your address, information, past bill accounts, identifications etc.
you're like if they ask for verification, if something happen they will give ur money back !, and that's not true, a lot of people lost their money because of verification on poloniex and bittrex. Decentralized exchanges are more secure than centralized. We are living in cryptoworld. when people suppose to be their own bank.
well, this is sadly not true. Last week we experienced already how the decentralized Exchange Service Etherdelta get hacked. Decentralized Platforms need still to be fixed their security systems.
Only DNS Hacked, and people was able to use smart contract to move their money using myethereumwallet in that situation, can you that with centralized exchange with all that bullshit of verification !! you benefit nothing of get verified by ID, they only use that to control you.
My point is, in crypto space where all coins base on concept of anonymous why do we need verification process!?
To meet KYC requirements for example.
No matter how much early btc adepts are talking about anonymity, crypto adherence end etc., let's admit that it's only the matter of money.
Exchanges' founders are totally under control of
cash flow hence they will implement and obey any rules, enacted legislation enforced by the govs.
They actually didn't give a darn to your anonymyty.
Of course the whole question is money. But the ideal exchange is decentralized. Such an exchange does not require verification, it is anonymous and the government has no influence on it.
fact is we need a good working decentralized exchange service which is also safe. If a decentralized exchange gets hacked and u lose more then 1k USD crypto tokens/coins in a day, this is not funny anymore and the anonymity also doesnt really matter then.
I dont mean that anonym trading in decentralized exchange is not our priority but the first priority must be the safety of the Exchange Service.
I read a report on what, and it said that Because EtherDelta operates as a decentralized exchange platform, which means that there are no actual direct keys to any funds on the exchange. The only way for a hacker to get a hold of funds would be to operate a phishing scheme, which this hacker did, but phishing relies entirely on how many people fall for it.
The hacker set up a fake website that mimicked EtherDelta’s exchange by hijacking its domain name but couldn’t actually access the exchange itself or any of its data or smart contracts. Those that were unlucky enough to enter the data for their keys (which is how they access their individual funds) into this fake site would have been the ones who were stolen from. Any other user wasn’t in any danger from the attack.
=> Therefore decentralized exchanges are more secure than centralized, it was only a phishing which means if the user was careful no one can take his money on decentralized exchange.
The bad thing about etherdelta is bugs and interface, but I hope that Velox will much better and one of best decentralized exchange which will help these type of exchange to take over, no more verification , no more bullshit.