if you are very careful about your personal data it is very good, and I understand that because I also protect my personal data,
if you are trying to register at binance it's good and safe,
but it's safer if you buy bitcoin at your local exchangers, or special applications that buy BTC with p2p safely and quickly without KYC, you can look for it, because there are so many.
Topic: Fiat-to-crypto: is it safe? (Read 631 times)
Please don't.
Private information leakage will be your problem afterwards.
Or the bank could just close your account for buying something that is out of their jurisdiction. Something like that.
That had been talked here but I cannot just find the thread for they are all buried by now deep within.
But I am telling you now, please do not even try it.
The risk of your bank closing your bank account is real and not many seem to want to talk about, banks really believe that whatever money you have with them really belongs to them and if you try to deposit or withdraw from an exchange they are sure to flag your account as suspicious even if you had an account with them for decades, so before doing anything it is better to ask if you are allowed to do that, and even if you do that, there is a possibility your account will be closed before you have a chance to use any exchange. Private information leakage will be your problem afterwards.
Or the bank could just close your account for buying something that is out of their jurisdiction. Something like that.
That had been talked here but I cannot just find the thread for they are all buried by now deep within.
But I am telling you now, please do not even try it.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
We don't know are they going to sell your private info or not. But the truth is if they are selling the members private info then that is a bad thing that they do and I am sure that their members will leave and report them to the police or something like that. I use binance as a verified member, and I don't see any problem with my account, and I don't want to get the bad things. I think that it is safe for the members if they do KYC, but we need to be careful. Binance allows their members to skip the verification and I think that is fair enough for the members. But I don't want to use credit or debit card to buy bitcoin because I hear much bad news about the stolen credit card on the internet.
BTW, converting Fiat to Crypto via banks can keep you on Government radar which in-turn can be hurting to you if they want to hurt your reputation.
Not gonna happen unless you outsmart them. There are online wallets where you could cash in your fiat and use it on buying crpytocurrencies. Banks don't like transactions that is new to them, like what you have said when buying bitcoins via banks or credits cards. A lot of questions are gonna fire at you and if you don't give them the answers they wanted to hear, the worst case scenario is they will close your bank accounts and you could also lose your funds.
The last part could be a whole another story, they will accuse you that you are doing illegal things which is annoying on your part because you know you didn't do anything wrong, bank is place full of dumb ass people.
Please don't.
Private information leakage will be your problem afterwards.
Or the bank could just close your account for buying something that is out of their jurisdiction. Something like that.
That had been talked here but I cannot just find the thread for they are all buried by now deep within.
But I am telling you now, please do not even try it.
Private information leakage will be your problem afterwards.
Or the bank could just close your account for buying something that is out of their jurisdiction. Something like that.
That had been talked here but I cannot just find the thread for they are all buried by now deep within.
But I am telling you now, please do not even try it.
I don't have any idea to make a judgment that the reputable exchange such you mentioned (binance) will sell your privacy. Because they will bet their reputation to do it and I guess they will keep your identity secretly to convince most investor create an account to use their service.
But if you doubt to do so, you can find decentralized exchange which is not ask your identity but you have to pass some proccess to do it. Besically, it is depend on you, when you have intention to invest or make money through internet most of way is they will ask your identity first if their service use centralized system.
But if you doubt to do so, you can find decentralized exchange which is not ask your identity but you have to pass some proccess to do it. Besically, it is depend on you, when you have intention to invest or make money through internet most of way is they will ask your identity first if their service use centralized system.
In what terms you are asking this?? Are you asking from point of Investment?? If yes then the best option is real estate investment. BTW, converting Fiat to Crypto via banks can keep you on Government radar which in-turn can be hurting to you if they want to hurt your reputation.
It's best that you should stay away from this kind of action or avoid this kind of transaction because there is a big possibility that your data will be save in their database after inputting it in their field.
Especially that we are talking about credit card, though there are exchanges out there that we can trust but it's better to be safe. If you have no other ways in obtaining crypto currencies and you really want to buy crypto currencies then you can use it knowing the risk.
Especially that we are talking about credit card, though there are exchanges out there that we can trust but it's better to be safe. If you have no other ways in obtaining crypto currencies and you really want to buy crypto currencies then you can use it knowing the risk.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Some exchanges accept Master cards and Visa cards for a consumer to buy crypto, now if they ask for another document, that's one of their rules that a trader who wants to use their platform. And to lose your doubt, learn this lesson or find out first and foremost the feedback about the binance you mentioned. To me, Binance is okay because it is one of the top exchanges in the market.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
Of course, you're new judging from the line of your questions. Don't knock yourself hard for it. We all were once like that.I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
I am not sure of reputable exchanges selling personal data of their customers to the darknet. Only unscrupulous exchanges or sites do that. Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
There's a point if you're ok with the KYC procedure.
I'm using exchanges, but now too many of them requiring verification and tbh that annoys me.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I think you should go through the exchanges Terms of Service or FAQ to understand how they handle your private information...Not like they will be very transparent about it though but little explanation is better than nothing.
If you want anonymity/privacy you could use decentralized exchanges like Bisq.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Because of the heavy regulations, exchanges are asked to go for KYC before signing up a new customer. Whether your data will be safe or not will depend upon the exchange. Here, you're talking about buying crypto through fiat such transactions require intervention of banks and hence, such details become essential as with any transaction involving fiat. I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
They don't sell your info but in case the information is being required by the authorities, exchanges will need to disclose it.
Personally, I believe that both fiat centralized exchanges and bitcoin debit cards providers defeat the whole purpose of crypto
This is why I don't trust any KYC process, they are confusing and fishy at the same time. Even though they are rich poeple who owns an exchange, still we can't fully trust our identity to them and yes, I agree that they are completely defying the whole purpose of cryptocurrency by doing this kind of thing.
These platforms are clearly not safe, because you never know what your data are being used for and even If nothing malicious is being done from the service's part, there is always a possibility of your data being hacked/leaked.
Well this is the most scariest part, you can't sleep at nights thinking if you did the right thing, if you can trust them with your legit information, the most worst case scenario would be the next day you wake up, and you are in the news saying that you are a scammer or something else horrible, and you didn't even know who the hell use your identity because you have done so much KYC process, also you don't have any proof that they are the one who used your identity, it is hard to accuse someone without any hard evidence againts them.
Personally I've never done it. But I do believe that top-ranked exchanges will ever do something like this. But when you try this on a new or unknown exchange there may be occurs some problems with your personal information and I don't think it's safe. Another thing is that if you are afraid of debit card and phone number then you need to be aware of KYC first. Because almost all exchanges now collect a lot of data through KYC.
If you stay in trading surely you can done It. Your suggestion is right because KYC is good to maintain our personal data. But some scammers are never like that so those are fear to survive trading they are little confused to give our data. Binance is the best Decentralized exchanges so they never sell our personal information and still some hackers are available in this world so we must protect our information is the perfect decision. Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Yes, fiat and crypto transactions are safe because I have done hundreds of times. Don't worry too much about providing your information to those exchanges, they won't be too short of money to sell your information. They just want to know your information to trade easier and more reputable, and when you encounter difficulties in trading, all problems will be solved faster when they know you really are the owner of this account. I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
Mate that's only a KYC requirement, don't be paranoid at a sudden. By the way, are you using social medias like FB and others? If yes then that should be the one you suspected for selling your private info first and foremost. Why feel threatened on using exchanges which only ask for fee details but not on those risky social media sites where you can post almost all of your daily routines? Anyway, though I don't use exchanges since I'm only buying coins into my wallet I still say that using legit ones are safe. I say so because I haven't heard complaints from my colleagues so far regarding privacy issues.
get cash back with you credit card so you hold fiat. CC can be tracked and/or generates compliance risks/flags, so avoid it if you can.
you can go from credit card =>gift card => cash (fiat)
BTC is peer-to-peer cash, so stay away from centralized exchanges. We're mom and pop main street, not wall street.
I convert twd/jpy/cny and other major currencies to btc in various countries without any issues on daily basis.
Off topic: I also convert physical gold to btc and vice versa.
In the last 7 years I've been trade, I've learned that you can generally stay safe by:
1) start the trade with reasonable amount (need to factor in neighborhood, site placement, etc)
2) build your clients and maintain relationship
3) trade in public and safe space.
4) walk away from trade if your first-time customer wear shades
5) have a backup (or security detail team) if transaction amount is large, so fiat isn't there until its ready. This can be important for country like Brazil and you may need a scout / recon team as well when enforcement is an issue.
6) stay away from site that can be accessed easily by highway.
No KYC needed, ever and never. Buy, or sell.
you can go from credit card =>gift card => cash (fiat)
BTC is peer-to-peer cash, so stay away from centralized exchanges. We're mom and pop main street, not wall street.
I convert twd/jpy/cny and other major currencies to btc in various countries without any issues on daily basis.
Off topic: I also convert physical gold to btc and vice versa.
In the last 7 years I've been trade, I've learned that you can generally stay safe by:
1) start the trade with reasonable amount (need to factor in neighborhood, site placement, etc)
2) build your clients and maintain relationship
3) trade in public and safe space.
4) walk away from trade if your first-time customer wear shades
5) have a backup (or security detail team) if transaction amount is large, so fiat isn't there until its ready. This can be important for country like Brazil and you may need a scout / recon team as well when enforcement is an issue.
6) stay away from site that can be accessed easily by highway.
No KYC needed, ever and never. Buy, or sell.
we can use binance and use the free member as they offer people not to do KYC. I use binance, bittrex, and poloniex from a long time ago.
Here the OP is talking about Fiat-to-crypto exchange. So Binance, Bittrex, and Poloniex do ask for KYC for buying with credit card. I know that for exchanging cryptos there may be No Kyc required but for buying with credit card, KYC is required. Many exchanges do not ask for KYC for exchanging coins but for buying it is required.
Binance is still considered a trusted exchange so far. They enforce it all because they are one of several centralized exchanges, they anticipate all forms of scam and money laundering in their exchanges. If you have objections to providing your data, it is better to use a decentralized exchange.
yeah right, I think KYC doesn't matter if it is applied by a reputable exchange, different from a new exchange or a problematic exchange, maybe they will sell our data. Therefore, selection of exchanges in trade must be right because it risks our data and not only about reputation but about security of exchange, make sure the exchange has no history of security concerns.
Most of the top cypto exchanges started to update their data base or ask you to provide them with the information about yourself. KYC nowadays is something that we crypto users and traders will I guess need to accept that it is happening. If I trade stocks before I trade they will also ask for a lot of information about me but compared to the possible earnings that I would get from trading crypto, I am willing to give them my information as long as I am giving it to a reputable exchanger and not to those new ones that has a low feedback and review.
yeah right, I think KYC doesn't matter if it is applied by a reputable exchange, different from a new exchange or a problematic exchange, maybe they will sell our data. Therefore, selection of exchanges in trade must be right because it risks our data and not only about reputation but about security of exchange, make sure the exchange has no history of security concerns.
I guess that would definitely be safe if one of the exchange are well known and has a good track record in the market and being listed too at
the top exchange platform, but you can also try bitforex because they accepted Visa and master card for you to be able to buy crypto here
https://www.bitforex.com/en/invitationRegister?inviterId=2197722 Just important is you must be verified.
the top exchange platform, but you can also try bitforex because they accepted Visa and master card for you to be able to buy crypto here
https://www.bitforex.com/en/invitationRegister?inviterId=2197722 Just important is you must be verified.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
No, I think that is not a good way to use credit card. As you said, it takes too many steps and seems insecure for your personal information. But I know there is a place to buy and sell bitcoins at very low prices.I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Coinvi.com, you can refer to it and try trading. Currently there are more than 500 users who have been constantly trading there and the price of Bitcoin is $ 200- $ 300 cheaper than other exchanges.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Most of the top cypto exchanges started to update their data base or ask you to provide them with the information about yourself. KYC nowadays is something that we crypto users and traders will I guess need to accept that it is happening. If I trade stocks before I trade they will also ask for a lot of information about me but compared to the possible earnings that I would get from trading crypto, I am willing to give them my information as long as I am giving it to a reputable exchanger and not to those new ones that has a low feedback and review. I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
For getting fiat without KYC, better to ask people there fiat/btc exchange, for example skrill, paypal and etc, you will find someone with whom you'll negotiate.
That's even worse than using an exchange.
You still need to go through KYC to use these services.
And chargeback fraud becomes an issue to watch out for.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Those are the KYC procedure you have to go through. The exchange also (I think) has no say in this since they are bound to do so because of legal reasons. People would easily launder money if there were no such verification. I know this defeats the purpose of using crypto currencies but there are currently no option right now. I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
About your data. No one is sure or can know if they are selling it or not.
P2P trading like Bisq or hodlhodl.com are good alternatives.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Those are the KYC procedure you have to go through. The exchange also (I think) has no say in this since they are bound to do so because of legal reasons. People would easily launder money if there were no such verification. I know this defeats the purpose of using crypto currencies but there are currently no option right now. I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
About your data. No one is sure or can know if they are selling it or not.
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Personally I've never done it. But I do believe that top-ranked exchanges will ever do something like this. But when you try this on a new or unknown exchange there may be occurs some problems with your personal information and I don't think it's safe. Another thing is that if you are afraid of debit card and phone number then you need to be aware of KYC first. Because almost all exchanges now collect a lot of data through KYC.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Yes you can buy crypto by using credit card but before purchasing an altcoin make sure you really know/understand the policy of exchange site to avoid asking any question, like if its required a kyc that provide your identity, Binance is one of a secured to buy altcoin.
Personally, I believe that both fiat centralized exchanges and bitcoin debit cards providers defeat the whole purpose of crypto, and I would rather use on decentralized/P2P platforms instead. But there are many people who don't mind going through these KYC procedures just because using these exchanges is more convenient and much faster.
These platforms are clearly not safe, because you never know what your data are being used for and even If nothing malicious is being done from the service's part, there is always a possibility of your data being hacked/leaked.
Cmon man, you can't run official exchange without requesting KYC documents from your clients, also it's better for governments and financial institutes to have imagination about how money moves from their exchange which mostly includes illegal things too. Just see, almost every official exchange (if not 100%) requires KYC, otherwise you can't run that business.These platforms are clearly not safe, because you never know what your data are being used for and even If nothing malicious is being done from the service's part, there is always a possibility of your data being hacked/leaked.
Still that's not safe OP, your data may be leaked and a lot of exchanges have that issues, I don't know why but seems their security isn't still good.
For getting fiat without KYC, better to ask people there fiat/btc exchange, for example skrill, paypal and etc, you will find someone with whom you'll negotiate.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I think this trading is quite safe, because I traded a lot at binance and Huobi, everything works very well. For large exchanges, you don't need to worry about selling their information. Because they already have too much money to grow their business, they do not need the change from KYC and it is easy to hurt their reputation. I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Almost every exchange will ask the personal information like date-of-birth, identity proofs, card details for buying with credit or debit card. It is important to search a legit exchange where your personal information are safe. I personally use few exchanges like Coinbase, Simplex, Coinswitch etc.
I think that is becoming the trend now and this is getting investors worried. The good thing about it is that it is a choice as other exchanges exit that won't require such rigorous KYC, just little like verification of email. Example, coin exchange does not require such KYC as such.
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Almost every exchange will ask the personal information like date-of-birth, identity proofs, card details for buying with credit or debit card. It is important to search a legit exchange where your personal information are safe. I personally use few exchanges like Coinbase, Simplex, Coinswitch etc.
Then, if that is the case, we can use binance and use the free member as they offer people not to do KYC. I use binance, bittrex, and poloniex from a long time ago. Poloniex was the first exchange that I use for trading, and I don't have any problem with all of those exchanges. So far, I feel safe to use the exchanges I mention, and I could trade in every day although, in fact, I don't make daily trade. If you don't want to use the exchange because of KYC verification, then you should search for the exchange that you want.
They don't sale your personal data but using it for their own marketing purposes. Also every exchange have legal obligation to store data of any customer so that they can answer on any request from authorities if law enforcement happen in one day. Its known as Know Your Customer and Anti money laundering acts.
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Almost every exchange will ask the personal information like date-of-birth, identity proofs, card details for buying with credit or debit card. It is important to search a legit exchange where your personal information are safe. I personally use few exchanges like Coinbase, Simplex, Coinswitch etc.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I think, about that every exchanges will have their reason. Some people in past i heard said that exchanges did that to prevent people's credit card is used by "bad people" and then to buy bitcoin. Maybe because of that they are ask people's data to make sure it is the owner or maybe they have another reason. In my local exchanges in my country, i do KYC too because i can't do anything if not get verified. I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I do not use it but it is widely used nowadays. That is perhaps one of the most convenient ways to buy Bitcoin and other cryptocurrencies. However, if you have other options such as buying through peer-to-peer or through outlets that do not require you to submit personal identification information, you better choose it. It is always safer to buy it anonymously rather than with your identity exposed.
Binance, for example, may be trusted and relatively safe but it has already experienced KYC data leak. Incidents like this could actually expose your personal information to the wide public.
It doesn't matter if they demand alot of things about you because indeed that's how they process stuff just to secured everything. but make sure that it's reputable and trustworthy exchange before giving such information because you know there are still fake and scam exchange. So be aware! And of course always make search and obtain certain information as well to assure it's totally safe.
Sure, Terms of Service or FAQ may be useful, but at the same time lack of transparency gives service an opportunity to use the it in their favor.
That's the risks even for a centralized and reputable exchange especially to those users who are taking their privacy and anonymity concern to the highest level. On the other hand, your credit card provider might question you too if they are sensitive at crypto-related transactions.
Since you are worried to the point that you want an exact answer which the fact no one can answer here as a user, then disregard your plan to used your credit card and find an alternative instead.
No, they are not selling your information.
There is a terms of agreement and you could use that to sue them if ever you want to have some lots of money one day. Let me help you with that.
Banks are supposed to be trusted, they cannot just let anyone take money from them.
Once they knew you are paying for an unreliable industry then they will not continue and you will have problems.
Your anonymityis your issue. Then, dont go just buying anything using your credit card because all your information is there.
Just look for a person near your place whom you could buy using fiat. Make it a large transaction so we wont see this question again.
There is a terms of agreement and you could use that to sue them if ever you want to have some lots of money one day. Let me help you with that.
Banks are supposed to be trusted, they cannot just let anyone take money from them.
Once they knew you are paying for an unreliable industry then they will not continue and you will have problems.
Your anonymityis your issue. Then, dont go just buying anything using your credit card because all your information is there.
Just look for a person near your place whom you could buy using fiat. Make it a large transaction so we wont see this question again.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
It depends because if we do talk on purchasing up crypto using up fiat then you would end up into those platforms like binance or similar ones that most likely I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
needed up credit/debit accounts to buy some.On instant exchangers- Changelly already have that option on buying btc with bank card so this do basically means
either both ways you would end up on requiring to comply kyc.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Most exchanges will ask for KYC when your withdrawal limit is high but you mentioned buying with credit card then you maybe asked for KYC when the limit is low.So you can go with anonymous exchange if you don't care about the high fee.I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
No one can assure your documents will be safe forever because you are uploading that in internet.
Even Facebook sells your data, so if you want privacy, stop using them.
I am not saying that they are doing this, but Binance will not risk her reputation for selling your identity since they are making a good profit.
This data may be given to governments and the platform may be hacked, but the likelihood that you will be at risk from sharing your data with them seems minimal.
You should read the Terms of Service and hire a lawyer to file a case against them if your data is leaked.
I am not saying that they are doing this, but Binance will not risk her reputation for selling your identity since they are making a good profit.
This data may be given to governments and the platform may be hacked, but the likelihood that you will be at risk from sharing your data with them seems minimal.
You should read the Terms of Service and hire a lawyer to file a case against them if your data is leaked.
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I think you should go through the exchanges Terms of Service or FAQ to understand how they handle your private information...Not like they will be very transparent about it though but little explanation is better than nothing.
If you want anonymity/privacy you could use decentralized exchanges like Bisq.
Sure, Terms of Service or FAQ may be useful, but at the same time lack of transparency gives service an opportunity to use the it in their favor. If you want anonymity/privacy you could use decentralized exchanges like Bisq.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
The only way in which you are going to be 100% sure that your information is not up for sell somewhere or that hackers are unable to obtain it is to never give up your information on the first place, I know that it sounds very convenient to be able to use an electronic form of fiat to buy a decentralized and electronic form of money, and it is, but it comes with some drawbacks because once your information is out there you have no way to control where it goes. I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I think you should go through the exchanges Terms of Service or FAQ to understand how they handle your private information...Not like they will be very transparent about it though but little explanation is better than nothing.
If you want anonymity/privacy you could use decentralized exchanges like Bisq.
Personally, I believe that both fiat centralized exchanges and bitcoin debit cards providers defeat the whole purpose of crypto, and I would rather use on decentralized/P2P platforms instead. But there are many people who don't mind going through these KYC procedures just because using these exchanges is more convenient and much faster.
These platforms are clearly not safe, because you never know what your data are being used for and even If nothing malicious is being done from the service's part, there is always a possibility of your data being hacked/leaked.
These platforms are clearly not safe, because you never know what your data are being used for and even If nothing malicious is being done from the service's part, there is always a possibility of your data being hacked/leaked.
Hey everyone. I'm new to crypto and I wanted to ask if there's a point of buying crypto with a credit card.
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
I found a lot of exchanges where users can easily (as they say) buy cryptocurrencies with their bank card. I mean, at binance they request like a lot of data about me, including my phone number or date of birth.
Aren't they selling my private info (that would explain 0,25$ fee on changelly for example), and doesn't that conflicts with the statement about my anonymity?
That would be fair for every fiat-to-crypto exchange, so my question is: do you use it and is it really safe?
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