Topic: It seems that KYC will be a must for all CEX users in Future - page 2. (Read 580 times)
all centralized exchanges will sooner or later implement this, so there's no need to be surprised. Again, if you just want to avoid KYC, you can use DEX. You can use Uniswap or other DEX. indeed the problem of hacking personal data is a serious problem in centralized exchanges. so many people prefer not verified, because it's safer. but we can't do anything. the choice is to do KYC or not use CEX.
it seems because maybe they have a reason to do that other than just increasing the withdrawal limit on your account.
to solve problems such as locked or hacked accounts, so that your funds are safe and cannot be used by those who took them.
to solve problems such as locked or hacked accounts, so that your funds are safe and cannot be used by those who took them.
This is mostly thanks to the strict financial surveillance laws in the United States. Most countries seem to be very lenient even when you're transferring large amounts. Even if you don't have American banking partners, the US government still expects you to comply with their regulations and will look for any way to come after you. BitMex isn't even a US exchange and American's aren't allowed to trade there. People would still find ways to bypass restrictions and they are being held responsible for this 'crime'.
If this concept is applied, it will be like being centralized and centralized where data and account ownership are known and stored by them.
i also use binance exchange, but i don't do kyc because it is only a small nominal transaction
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the problem of data leakage has been circulating for a long time and it is said that in the black market a lot of data is traded.
i also use binance exchange, but i don't do kyc because it is only a small nominal transaction
.the problem of data leakage has been circulating for a long time and it is said that in the black market a lot of data is traded.
Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?
https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
KYC is not a problem as long as you can maintain privacy. this may have to be applied because privacy is the main thing and must be maintained. so we hope that all of them do not use KYC for negative things https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
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Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?
https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
Yes, almost all top exchanges have implemented kyc requirement for all account holders, even the small accounts that are exempted from kyc initially have trading and withdrawal limits so for ultimate freedom of trading you kust be kyc verified.https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
Just remember about that dude.
I think it's becoming a nom for most centralized exchanges to require KYC and I don't think it's wrong to do so. Most regulatory agencies require that before those companies could be allowed to operate in the jurisdictions. That's why it's almost going to be compulsory in the near future.
For one who's not comfortable with that I think the best bet will be the decentralized exchanges where there're no such requirements but not without its own disadvantages such as inherent scams and hacking activities.
For one who's not comfortable with that I think the best bet will be the decentralized exchanges where there're no such requirements but not without its own disadvantages such as inherent scams and hacking activities.
That can't be. A lot of people use centralized exchanges without complying for a KYC so I can see that it's not going to happen. If that scenario somehow really happen in the future, then decentralized exchange would gain popularity as we all know that people doesn't really want KYC and is only being forced to do so.
However, as it is CEX, we cannot blame them if they require KYC or verification for their users/clients. Yep, most of CEX already apply KYC for their user/clients from the very beginning. For example, we cannot trade or withdraw our assets if we don't do the KYC procedure yet. So, the users/clients have no choice, then they must do KYC/verification. For me, it is no problem as long as it is a top exchange that has a good reputation and can be trusted by us.
If CEX makes KYC a must, they will instantly lose the war to swap kind of thing and wallets with function to performe exchange. And thanks God there are plently of DEX nowadays.
I would stop using an exchange, if they force me to pass KYC. I simply dont understand how it would help them to identify if I’m good or bad, or breaking any law.
I would stop using an exchange, if they force me to pass KYC. I simply dont understand how it would help them to identify if I’m good or bad, or breaking any law.
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I think this is still very reasonable in order to narrow the movement of criminals who use cryptocurrencies as their transactions...I don't really like KYC but seeing if KYC is needed I wouldn't refuse to do it. but I will not do KYC on a new exchange or airdrop campaign because it will definitely be misused by them.
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Today December 4th 2020 Bitmax exchange have announced no more withdrawal limit for not verified users
removing no limit is supposed to be a good news but along with that they also require a kyc , the no limit trades are still going to be useless for non verified accounts .
Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?
https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
Yes, almost all top exchanges have implemented kyc requirement for all account holders, even the small accounts that are exempted from kyc initially have trading and withdrawal limits so for ultimate freedom of trading you kust be kyc verified. https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?
https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
I think this is still very reasonable in order to narrow the movement of criminals who use cryptocurrencies as their transactions...https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
I don't really like KYC but seeing if KYC is needed I wouldn't refuse to do it. but I will not do KYC on a new exchange or airdrop campaign because it will definitely be misused by them.
Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?
https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/
I guess if they really plan to do this then they will send warning first to its users so other people that do not want to take kyc can widraw their balance before having a mandatory kyc it happen in bittrex before.
In case exchange will really make this as Mandatory requirements. then Dex exchange will take their move and it will help them to have more liquidity and increase of daily volume . more of the traders that afraid or do not want to give their details will surely use dex exchange . Since they don't have any other options.
Bitmex is responsible for the changes that are forced on them, In October, America accused the exchanges of allowing Hong kong company of laundering and illegal transaction, after this more investigation were done while the owner was arrested and prosecuted. Bitmex is said to be situated in Seychelles, not America yet there were able to see the atrocities. The management of the exchange had changed which prompted some changes to improve security and monitoring fund exchange of users.
I don't like KYC
I like cryptocurrency because it's anonymous and decentralized, if I can avoid KYC I will definitely avoid it.
People should only do KYC on large exchanges, not KYC with small exchanges, most likely they'll sell your information to scammers.
I like cryptocurrency because it's anonymous and decentralized, if I can avoid KYC I will definitely avoid it.
People should only do KYC on large exchanges, not KYC with small exchanges, most likely they'll sell your information to scammers.
Crypto users do not like to do kyc but in some cases they are forced to do kyc with their personal information. In case of using the exchange, KYC has to be done by those who trade with large funds, for the security and withdrawal of their own funds, they have to share the information.
I haven't needed to do kyc on any exchange so far. Because the funds I trade and withdraw are much less than the daily limit of the unverified account. So I didn't need to do kyc.
I think KYC is not bad, it makes it possible for everyone to protect their accounts.
In case you lose your account, KYC is the best proof for you to find your account again.
However, people should not do KYC for small and less reputable transactions.
In case you lose your account, KYC is the best proof for you to find your account again.
However, people should not do KYC for small and less reputable transactions.
Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?
I know most of the members from us hate kyc requirements. You will probably see bitmex exchange dumping volume soon bcs of this. I normally do not like any exchange kyc submission because even crypto exchange aren't government verified. So I think they will change this worst decision soon.
There are still some options that we can trade on decentralized exchanges that won't require us to have KYC. It's visible in the future that most of these exchanges have to follow certain rules for them to avoid sanctions.
And that rule would be requiring each of their traders to fulfill KYC. When that happens, they can see that their customers don't have an option but to follow it and I think that they've projected that it will make their business decrease in users.
And that rule would be requiring each of their traders to fulfill KYC. When that happens, they can see that their customers don't have an option but to follow it and I think that they've projected that it will make their business decrease in users.
I'm not against a KYC as centralized exchange would require them to keep their business but they (and the CIA) should change how the KYC is collected. Gathering users passport and bank statement is a disaster as they are always leaked and their identity sold on black market. They should rather go for a video verification with any sort of ID so that no other could easily fake the identity. Even fingerprint verification could be easily achieved when almost every of the people have that sensor in their phone.
what's the point of that video if there isn't a valid ID. their goal is to identify a person's name and his details. if its just a video, they'd still be anon. CEX had been doing it for awhile already, i'm not a user of bitmex but i wonder its only now.
there are even DEX that turned out to be asking for KYC. don't be surprised if the dex will also mandate users to submit documents. if they want to continue their operation, they might be doing so else the authorities will shut them.
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