IDEX is complying to KYC and other regulations - page 5.

bluesnup

jr. member

Activity: 123

Merit: 1

Quote from: X-ray on July 19, 2019, 12:01:29 AM

Quote from: aioc on July 18, 2019, 11:08:45 PM

Quote from: bluesnup on July 18, 2019, 12:01:24 PM

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

I read on one article about this SwitchDex and it looks interesting and being promoted by Mcafee as a legit and real decentralized exchange, I'm looking forward to using this DEX after this news that IDEX is now regulated although there are still a lot of DEX's in the market.

Switchdex is no US based company and it's different with idex as the operation is located in US and that must comply with US regulation. Im using it right now but UI needs a lot of improvisation consider about im not even feeling comfort to see that.

That's correct SwitchDex is not an US company. I also agree with the general consensus on this thread, having a DEX in the US is impossible, just a matter of time for KYC and regulations to arrive.

CryptoLogo

sr. member

Activity: 656

Merit: 251

www.fintropy.io

It was my favorite decentralized exchange, I am very sorry that it will die because of KYC. I hope they can still do something about it.

omonuyak

sr. member

Activity: 882

Merit: 269

Quote from: bluesnup on July 18, 2019, 12:01:24 PM

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

I thought dex are decentralized and anonymous it will be a surprise for them to change that and trying to centralized themselves again buy submitting to the regulations. I hope one day we would wake up and started to see that regulate has taking over all dex? It is with this mind that make bitmax is being tempted to KYC customers now as more pressure is advancing from the USA government.

krisnajsadrak

sr. member

Activity: 1092

Merit: 250

Hodlers Network

Quote from: airdropan on July 18, 2019, 11:25:30 PM

One of some simple exchange that i used before , simply to use only input my wallet pk there , but now after this news, this exchange won't be special anymore. forcing their member to create account and verified for unlimited withdrawal. i guess we can move and look for another decentralized exchange

in my opinion, idex will forfeit a lot of users if KYC required for this decentralized exchange
i believe people used this exchange, because they didn't need to fill a complicated form when they want to trade an ethereum tokens in this exchange
and maybe idex should change the name, because with KYC this exchange is not a decentralized exchange anymore but become a centralized exchange Wink

NEERAJ ANAND

member

Activity: 686

Merit: 13

Now the rules are changing and regulations are coming. every company follows the regulation if survive in the market. So every company asking for KYC.

Mikcik

sr. member

Activity: 742

Merit: 250

Quote from: yangongear on July 18, 2019, 12:16:28 PM

Quote from: bluesnup on July 18, 2019, 12:01:24 PM

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

WTH, a DEX requires creating a new account by email, so I don't know at what point "decentralized" it is? So long ago we just need to connect our wallet to DEX. Yes I'll see what will happen with IDEX.
I only use IDEX and sometime forkdelta. Binance DEX doesn't support ERC20 tokens. Other DEXs don't have volume. So what should we do now??

I don't understand why IDEX's owner came up with this request. What they are think wrong about exchange decentralization

studio1one

hero member

Activity: 1218

Merit: 500

BintexFutures

Quote from: bluesnup on July 18, 2019, 12:01:24 PM

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

Totally agree with you all these regulations are killing the decentralized part of a DEX. If this continues to happen then I think soon we will see every DEX and CEX asking for KYC.

chipzeru

member

Activity: 686

Merit: 39

If IDEX is required the users to pass KYC to use their platform then they're no different than CEX. They even asking users to provide email for basic level along with name, date birth & country. I'm quite often using IDEX as i like its ui but i think i should move on.

wumBowo

sr. member

Activity: 770

Merit: 298

tozex.io

besides IDEX news, do the binance DEX will complying a KYC too? i have never heard about it.
Maybe someone can put me the link

pishite

full member

Activity: 980

Merit: 132

I have not been trading on this exchange for a long time, since it has long lost its decentralization. She forbids me to trade on her platform at all, referring to the sanctions of the US government. And the introduction of user identification will alienate the old users from the exchange, thereby the sales volumes will fall and many trade pairs will get delisting.

btccrusher

member

Activity: 742

Merit: 12

It's no longer a DEX, it is more than a centralized exchange, cause it cheats with the users. Suddenly changed the rules with a short time frame, I'm sure many people will lose funds due to this issue. I don't know about Binance DEX yet, is it require KYC? If yes, why people call it a DEX?
Exchanges are thinking that making a non-custodial trading platform is a proper decentralized exchange. They need to learn again.

X-ray

hero member

Activity: 3010

Merit: 524

Leading Crypto Sports Betting & Casino Platform

Quote from: aioc on July 18, 2019, 11:08:45 PM

Quote from: bluesnup on July 18, 2019, 12:01:24 PM

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

I read on one article about this SwitchDex and it looks interesting and being promoted by Mcafee as a legit and real decentralized exchange, I'm looking forward to using this DEX after this news that IDEX is now regulated although there are still a lot of DEX's in the market.

Switchdex is no US based company and it's different with idex as the operation is located in US and that must comply with US regulation. Im using it right now but UI needs a lot of improvisation consider about im not even feeling comfort to see that.

airdropan

member

Activity: 532

Merit: 11

♦♦♦♦♦

One of some simple exchange that i used before , simply to use only input my wallet pk there , but now after this news, this exchange won't be special anymore. forcing their member to create account and verified for unlimited withdrawal. i guess we can move and look for another decentralized exchange

omone1

member

Activity: 845

Merit: 52

This should be starting on the 24th of July, it's a bad signal to the anonymity of DEX users. Idex platform has been very fantastic to ERC20 token traders. I wonder how traders will respond to this. Another bad one for Idex exchange.

aioc

hero member

Activity: 2926

Merit: 567

Quote from: bluesnup on July 18, 2019, 12:01:24 PM

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

I read on one article about this SwitchDex and it looks interesting and being promoted by Mcafee as a legit and real decentralized exchange, I'm looking forward to using this DEX after this news that IDEX is now regulated although there are still a lot of DEX's in the market.

cifix43

brand new

Activity: 0

Merit: 0

Quote from: bluesnup on July 18, 2019, 12:01:24 PM

https:/[Suspicious link removed]/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

I was wondering about the part you meant binance dex - do you know if they stated kyc on their dex? Even on cex they have tier for unverified users.

OnceTwiceThird

member

Activity: 606

Merit: 10

KYC is better to keep money investor is save and always protect from stolen of idex balance, we always have positive feed back with any exchange have submit KYC in their exchange account,

sehoon

full member

Activity: 840

Merit: 101

Quote from: rosezionjohn on July 18, 2019, 12:16:02 PM

This has been known for a while that IDEX will be requiring KYC. Their verification is even worst than known centralized exchanges. I mean submitting name, birthday, and country for a $5,000 limit (tier 1) is just absurd. With this change, I think DDEX will take over as the top DEX.

With these requirements, I wonder if there are still people who are still going to use it. I've never used it personally and only heard people using it here. Especially the $5,000 thing is just bs. And also, the essence of being a DEX is already gone.

Leonardo7

member

Activity: 686

Merit: 15

This is a very serious issue with IDEX, a powerful invincible hand must be controlling them from the top to have been requiring KYC, I thought I just trade with my Private wallet and withdraw too to my private wallet without any protocol. DDex works fine, only that one gets to unwrap ETH, but all other eRC20 tokens are automatically sent to my private wallet. Maybe they should be blocking US IP if the USA government are the ones asking for KYC compliance.

senyorito123

hero member

Activity: 1764

Merit: 505

#SWGT PRE-SALE IS LIVE

Quote from: Bitcoinjheta on July 18, 2019, 09:56:03 PM

Quote from: CoinsOrDie on July 18, 2019, 04:21:09 PM

I read the announcement yesterday and I was shocked. I have known idex to be a semi-decentralized exchange but I didn't know it will get to these full centralized qualities. The question that begs for answer remains if cryptocurrency is gradually getting forced into centralization

It is hard to accept for some traders who likely enjoying the service being semi-decentralized exchange. In my own opinion it would be easier for them not to accept regulations for the dignity of the members in the community.

This implementation would rather take more time in order to be successful, and as mentioned that's not easy to do. Many traders wanted an anonymous identity in order to protect their personalities, and now this plans surprises everyone here. I don't think long time traders can handle this and possibly customers will be reduced.

Topic: IDEX is complying to KYC and other regulations - page 5. (Read 1349 times)