I've tried trading with Kucoin and so far, they don't ask for KYC but as for me, KYC shouldn't be a problem because most exchange as it for our own good as well. Most reputable and trusted exchanges these days are asking for KYC which is acceptable and reasonable. I guess the best thing that we should look for in exchange is their reputation and not those who don't ask for KYC.
I fear exchanges that are centralized because of this KYC, they may not ask you for identification at the start but what happens when the market favors you and you had a million in your exchange wallet? what do you think will happen when you want to withdraw out that big sum of stash, they will want to play the victim and hide and seek games, I don't trust any exchange with free KYC, sooner or later they will ask for it.
It depends on the country you are residing for KYC requirements. Maybe your country is not that strict in terms of online exchange regulation. Sooner or later everyone will be required to undergo KYC as it a must for an exchange to maintain there license and business permit. KYC serves as protection too in case someone hack your account so that you can recover it.
Yeah, Reputation is the most important things to be considered when dealing on exchange but honestly most of the CEX especially those well known are less risky compared before.
Reputation is one thing and regulation is a different thing, US traders, for example, were forced to use Binance(dot)us but the same are freely trading on Kucoin without even KYC, by the time Kucoin get the recognition and volumes Binance has managed to hold for the years, they will be forced to KYC their customer or specifically open a US Kucoin and not just US alone, some other developed countries will want a regulation.
