Topic: can exchange services sell my personal data? - page 8. (Read 955 times)
They can. As far as I know, not so long ago, the forum showed evidence that one of the largest exchanges, unfortunately I can’t remember exactly which one, was selling its users data as a darknet (or was hacked, which led to data leakage).
I can't say that exchangers sell data for profit,
it could happen, but we cannot accuse without evidence,
for me, only do KYC in large and well-known exchangers, because it's safe, and avoid exchangers that are still new or even not yet famous.
it could happen, but we cannot accuse without evidence,
for me, only do KYC in large and well-known exchangers, because it's safe, and avoid exchangers that are still new or even not yet famous.
Hey, imagine that 0.25% is for one user, whereas in this world there must be many users, thousands or even millions. well imagine each of them doing withdrawals, deposits, buy or sell and be charged a 0.25% fee, and even for each person not using it only once, sometimes many times.
think positively, and I think the most reasonable logic is that.
think positively, and I think the most reasonable logic is that.
I don't think exchanges sell our data to get some extra income, and i say extra because the 0.25% is enough to make a big profit if the exchange manages a huge volume. And all exchanges have their privacy politics where they say they will not share our data with anyone, our only option is to trust in their words.
The best option is to use a good reputation exchange with big volume.
The best option is to use a good reputation exchange with big volume.
I am sure they are doing this, because it is a nice way of doing huge money. Big companies like Facebook, Google, Amazon know everything about us and are selling our data for billions of dollars which makes 70 percent of their entire profit. Why should major exchanges not do the same?
I think the exchange is more careful with the user's data, although it can happen to sell user data to the dark web. but try to think positively, maybe the exchange asks user data for regulatory purposes or anticipates the security of money laundering.
for the cost of 0.25%, I see the average exchange rate pegged around that. if multiplied by all users and all the transactions there are quite fantastic.
for the cost of 0.25%, I see the average exchange rate pegged around that. if multiplied by all users and all the transactions there are quite fantastic.
I do not think any reputed exchange can do such an unethical thing for some money, but yes risks are always there and smaller exchanges that struggle for volume and revenue can do such things so that is why i always suggest to stick to top quality exchange only.
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.
User data is also available pretty cheap on darkweb o don't think they are here to sell our data and get richer through it but they might sell it as well.Exchanges also asking for fee when we withdraw any amount which is relatively high so they can make profits from these kind of fee.
Changelly is not a general exchange, it's different. In every transaction they cut a good percent of fees from your wallet, millions of user take Changelly service every day. So making money is not difficult for them. Question about selling data? I don't think reputed exchange or company do these illegal things. I use Changelly too and it is safe, you can trust them.
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.
An exchange site like hitbtc was even charging me more than a few percents. It's not so weird dude. They are taking a little fee from the market and the exchange site is playing on the quantity rather than try to play in the price. This to make sure the users will be feeling confident with it and it will always use that service. It will not happen and don't worry.
If you multiple 0.25% by trading volume of a decent exchange, for example $1.15 mil of Huobi (according to CMC) then you'll relize that exchanging business is the easiest money in the world. Regarding selling user date, yes, possibly. But even if an exchange sells its user date, it will not let you know. And for a big exchange, it's an unwise move.
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.
You cannot compare them with exchange, because you cannot define your price for the coins you want to buy or sale.
They are just connecting you with some of the exchanges and act as a middle man for the percentage of the price.
Regarding your question from where are they making money? You are aware how much trades are executed every second?
Now try to calculate their daily profit and you will get the picture about amounts they are scraping of top.
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.
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