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Topic: Exchanges KYC/AML policy for early adopters. - page 2. (Read 456 times)

hero member
Activity: 910
Merit: 680
December 09, 2024, 03:32:06 AM
#8
I don't think they will ask about where you obtain the coins, I have never experienced that.

I think, it's more likely the banks or tax authority will ask that when you made a big deposit by selling your coins in bulk. You can imagine what if they ask you when you bought your coins, at what price and what time, or they will ask you who own the previous address before you get the coins...
legendary
Activity: 2758
Merit: 4074
December 09, 2024, 02:48:26 AM
#7
Unless DEX is prohibited in your country, you can tell your tax authorities/law enforcement that your coins came from these services. As for sending them to CEX, most services do not classify DEXes as high risk and will accept your coins without any problems.
hero member
Activity: 2786
Merit: 902
yesssir! 🫡
December 08, 2024, 02:11:50 PM
#6
So from what I understand, you're worried about documenting your proof of source of funds? in case they request it from you?

Supposing I'm correct, you can try to ask your picked CEX about what documents are accepted or search in their help center. For instance, a signed message from your address/es is accepted as well in kraken, see: https://support.kraken.com/hc/en-us/articles/360000383383-What-is-proof-of-sources-of-funds-POSOF-

or hop the funds on a no-kyc exchange first and you can use it for documentation? 🤔
legendary
Activity: 1106
Merit: 1124
Wheel of Whales 🐳
December 08, 2024, 01:05:47 PM
#5
The question we have to ask you is why do you want to use centralized exchanges now and give them your personal information, when you have not done that since you've been in the industry for a long time. Take note that centralized exchanges can always confiscate your funds at anytime, so even if we recommend one to you now, it is no guarantee that your experience will be forever smooth.
copper member
Activity: 2198
Merit: 1837
🌀 Cosmic Casino
December 08, 2024, 12:58:12 PM
#4
I haven't been using any CEX since Binance introduced KYC policy. For several years only using DEXes. I am considering to use them again, but wondering what way I can prove I have crypto for long time (don't have any buying proofs as I did it longtime ago when it was available with full privacy and lost access to these transfers history).
Binance plus many other exchanges have that option to export your user data including all the orders you made in the earlier years. They can either send your account statement via email or probably download it after a few minutes. I have done it before, but I need to be certain it was Binance.


So what exchanges I can use to avoid problems with withdrawals? Any experience in this matter amongst biggest exchanges on the market? Would be very thankfull if you can share it.
You need to first outline what you would like from an exchange. We do have quite a number of them with no many issues when it comes to withdrawals, especially when you have KYC already done. Just avoid the likes of HitBTC.
legendary
Activity: 2576
Merit: 1860
December 08, 2024, 09:05:53 AM
#3
I wonder why you want to use them again after "several years only using DEXes". Are you discouraged by certain shortcomings of DEXes?

Anyway, there's no centralized exchange that could guarantee you of smooth withdrawals all the time. You must understand that. And if you're totally against KYC, a centralized exchange isn't for you.

But you are safer with the top exchanges provided (1) you aren't from one of their restricted countries, (2) you aren't depositing funds obtained illegally, (3) you have complete legitimate proof of identification, address, funds, and so on, (4) you won't violate their terms. So, you must read their terms and conditions before signing up. And, again, prepare for KYC. Binance, OKX, Bybit, are some of the most popular centralized exchanges.
legendary
Activity: 2254
Merit: 2406
Playgram - The Telegram Casino
December 08, 2024, 08:40:57 AM
#2
I haven't been using any CEX since Binance introduced KYC policy. For several years only using DEXes. I am considering to use them again, but wondering what way I can prove I have crypto for long time
Why do you need to prove that you have been in crypto for a long time.
Also, crypto transactions are transparent, you can simpfjy enter a wallet and check the trail of transactions of all the inputs in it.

So what exchanges I can use to avoid problems with withdrawals? Any experience in this matter amongst biggest exchanges on the market? Would be very thankfull if you can share it.
Are you looking for a top CEX that doesn't enforce KYC or just an exchange (could be decentralized) that doesn't require it for withdrawals?
newbie
Activity: 3
Merit: 0
December 07, 2024, 12:46:50 PM
#1
I haven't been using any CEX since Binance introduced KYC policy. For several years only using DEXes. I am considering to use them again, but wondering what way I can prove I have crypto for long time (don't have any buying proofs as I did it longtime ago when it was available with full privacy and lost access to these transfers history). So what exchanges I can use to avoid problems with withdrawals? Any experience in this matter amongst biggest exchanges on the market? Would be very thankfull if you can share it.
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