Topic: can exchange services sell my personal data? - page 2. (Read 955 times)
Are you talking about crypto exchange services or about crypto exchanges for trading? because there are a lot of doubtful crypto exchanges not to be trusted
I doubt if they sell users personal data. For big exchange, how they make their money is in the volume of trades per day. If they have active traders who make active trades on a daily basis, when it gets compounded you see its huge. But when you make reference to individual transactions fees that's when it seems small.
Trading fees is clearly the bread and butter of an exchange and they need more clients in order for them to earn good trading fees as their income. Selling clients personal information is them destroying their reputation, no exchange would do that.
Look at Binance, they don't sell KYC information from clients but the data were leaked, and because they area a big exchange, everyone knows what happen, they maybe still one of the best exchange now but their negligence will remain forever in the minds of the people, if only there's a big exchange close to Binance quality, people would surely leave this exchange.
Yes and No
I saw recently on Bitcointalk a individual who was asking people to contact him for the business of selling 150,000 cryptocurrency related emails,a big question is where did they get the emails from
I saw recently on Bitcointalk a individual who was asking people to contact him for the business of selling 150,000 cryptocurrency related emails,a big question is where did they get the emails from
I doubt if they sell users personal data. For big exchange, how they make their money is in the volume of trades per day. If they have active traders who make active trades on a daily basis, when it gets compounded you see its huge. But when you make reference to individual transactions fees that's when it seems small.
Charging clients for trading and withdrawing is a source of income of crypto exchanges. They charge a minimal fees from each clients and the charged amounts become huge when there are many clients charged. I have not experienced that any exchange has misused personal details of clients for their personal gains.
Yes, for higher withdrawals more than 2 BTC per day we need to submit our details to exchanges. Without taking a transaction fee, it is impossible for the exchanges to survive in the market, I hope more client will help them to get more transaction fee on the transaction they are doing. Till now, I never anything negative about the exchange misused our personal details.
Changelly is just a platform to exchange cryptos from one coin to another , it’s not generally for buying , selling and liaising of projects ! So they won’t charge much ! Which is why their fees is low ! Unlike the main and full functional exchange like binance , kucoin ! Exchanges dosent have right to sell users data and they would not do that !
Charging clients for trading and withdrawing is a source of income of crypto exchanges. They charge a minimal fees from each clients and the charged amounts become huge when there are many clients charged. I have not experienced that any exchange has misused personal details of clients for their personal gains.
I have not found any exchange selling personal data of its clients. But I have heard that our personal data given to anyone for a purpose maybe misused. Nowadays, many crypto projects and exchanges are requiring KYC information. So we have to be very careful in this matter. Crypto exchanges earn by charting its clients for trading and withdrawing.
KYC nowadays is unavoidable because every company wants to have your details as probably requested by government or effective to their drafted policy, so we just need to take your advice and then be careful with the way we just submit our details. We cannot stop them from asking for KYC but we can stop giving details to companies that we are not completely comfortable with.KYC could be very risky, especially those who are requesting for very deep detail from us like our passport and we all know the implication of what our passport would be when it gets to the hand of terrorist. They could use our face on the passport for their various atrocities and this is one reason why we have some people that are very careful about their KYC details with strangers.
Even a 0.01 percent will be a good profit, it is about the number of transactions daily.
Once you put all small amount together it can be millions of amount.
About personal data, anyone can sell our identity with out our permission and knowledge.
Once you put all small amount together it can be millions of amount.
About personal data, anyone can sell our identity with out our permission and knowledge.
It is as easy as ABC. That is the more reason why you must trade on secured and insured exchanges. Many of these much room exchanges and projects conducting KYCs are merely doing so to sell it to a third party for private you. I mean even Facebook once did that and its a cash cow for them
They can not make money with this way, user data is not expensive than you expected considering the total registered customers on small exchanges. Exchanges, which are contemptible can do it, but honorable exchanges can not do it. The reputation is important thing for reliable exchanges. We have to be wide awake about unreliable exchanges,there are also a lot of bad news about the fraud activity of exchanges on social media.
Hello! What is an average fee you pay to crypto exchanger? I use changelly and pay just 0.25% and I think this is pretty weird. How do they make money? Sometimes I think that they sell users data and I'm thinking to pick another exchanger.
No, do you know how many transactions take place daily?0.25% is a lot for 1 trade. If an exchange had more than 1 million transactions a day, how big would you think it would be?
Besides, they also get the coins of some coins that they want to list on their exchanges. There are many sources of income and they will not sell our personal information.
Yeah, when you multiply 0.25% by the millions of transactions process daily then you will know that the fee is not ridiculous at all looking at it from multiple transactions perspective, believe me nobody wants to run a business at loss, they are profit making body and as such have done all the required calculations regarding what profit they will earn when they charge such percentage.
Hello! What is an average fee you pay to crypto exchanger? I use changelly and pay just 0.25% and I think this is pretty weird. How do they make money? Sometimes I think that they sell users data and I'm thinking to pick another exchanger.
No, do you know how many transactions take place daily?0.25% is a lot for 1 trade. If an exchange had more than 1 million transactions a day, how big would you think it would be?
Besides, they also get the coins of some coins that they want to list on their exchanges. There are many sources of income and they will not sell our personal information.
Hello! What is an average fee you pay to crypto exchanger? I use changelly and pay just 0.25% and I think this is pretty weird. How do they make money? Sometimes I think that they sell users data and I'm thinking to pick another exchanger.
Beware of exchanges asking for fees to new users. If exchanges are not always real they will provide the user personal data to their advantage. Maybe they can also sell your personal data to others because many people need personal data to their advantage. I am always cautious in choosing exchanges and it is better to choose a great exchange and have a large volume.
Therefore we should use exchangers who already have good reputations. Exchangers nowadays appear a lot and in my opinion not all of them are good places to do transactions. Therefore I think it is possible for exchangers to sell or use our data for other purposes, even though it seems unlikely
Hello! What is an average fee you pay to crypto exchanger? I use changelly and pay just 0.25% and I think this is pretty weird. How do they make money? Sometimes I think that they sell users data and I'm thinking to pick another exchanger.
Beware of exchanges asking for fees to new users. If exchanges are not always real they will provide the user personal data to their advantage. Maybe they can also sell your personal data to others because many people need personal data to their advantage. I am always cautious in choosing exchanges and it is better to choose a great exchange and have a large volume.
Many exchanges and exchange projects use KYC. Before submitting your personal data, it is better to check. Not all exchanges are real and there are some exchanges that are used for fraud. I have personally read on social media, that there are people who offer photos of personal data. And photos of personal data are very much at all, I hope we all have to be vigilant.
everything can happen. we are not safe to the leak of our data and the leak of documents from the Binance exchange this month confirms this. if you are in the cryptocurrency market get ready for anything 
Hello! What is an average fee you pay to crypto exchanger? I use changelly and pay just 0.25% and I think this is pretty weird. How do they make money? Sometimes I think that they sell users data and I'm thinking to pick another exchanger.
Changelly has a very bad reputation, you should never use that exchange, I have this feeling that you just trying to hype this exchange because you include the transaction fee to invite people to use Changelly, an exchange with a bad reputation like Changelly can sell your data, because they don't care about their reputation.
Many exchanges and exchange projects use KYC. Before submitting your personal data, it is better to check. Not all exchanges are real and there are some exchanges that are used for fraud. I have personally read on social media, that there are people who offer photos of personal data. And photos of personal data are very much at all, I hope we all have to be vigilant.
Cryptocurrency exchanges shouldn't sell your personal data. I want to say that they CAN'T but there is always a risk. So, I recommend you to use only popular and reliable exchanges like Kraken, CoinDeal or KuCoin. It's good to feel safe, I don't even want to imagine that the exchange can sell my personal data! That's just ridiculous!
only reputable exchanges that will keep their customer personal data.kraken , kucoin , binance be one from many exchanges in crypto market that able to keep this data.we have to use exchanges carefully or we will loss our money when their exchanges hacked.as we know in few months ago many exchanges hacked and millions dollars stolen.its possible that our data will stolen too. 
Of course this violates the rules because our personal data is not to be misused as sales to other parties. this is quite high risk if the data itself is traded. therefore as a custumer it should be more careful in conducting verification especially those related to personal data
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