Topic: KUcoin forcing KYC for every users (Read 561 times)
Is the verification procedure mandatory for traders? More recently, the procedure was at will in order to increase the amount of withdrawal funds.
It is a centralized exchange and the regulations are every dag stronger and stronger. Therefore I think that it is normal that they are asking KYC for users. On the other site are there enough solutions if you wants an exchange without KYC (mostly decentralized exchanges like forkdelta and idex).
KYC is ruining the concept of cryptos for everyone. people are using cryptocurrencies because they do not want people to know what they are up to online and also to keep their transactions and coins in their own control. If we wanted a market where all of our businesses and activities are known then we would just stick to the stock market.
KUCoin has decided to force KYC for every of it's users.
Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?
https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/
This is what happens if an exchanges wants their users to be legitimate.Quote
In an attempt to remain as one of the most trustworthy and transparent exchanges in operation, KuCoin will start enforcing KYC checks on users. This measure is to ensure KuCoin remains compliant with the developing regulations in the crypto industry.
Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?
https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/
What they only wants for their company security same as the customers
Maybe people now still not ready on this kind of treatment remember thats why we are here because this same issues we had in banking system..so maybe lets take things one at a time
Thanks Kucoin team your have by far one of the greatest services and support I've personally met. I passed KYC in 1 day when it takes from 1 to 2 weeks ordinary. Great!
its inevitable for all of the exchanges out there the government is the one forcing them to collect information about their users otherwise they cant operate their exchange. you should not worry about it if your not laundering money. there are some useful purpose of KYC in order to eliminate those people who use their exchange or crypto to launder money.
That's why binance is moving to the malta, but remember all of the major exchange sites are putting tier for the users, It's much better rather force them all to complete KYC verification. Sometimes there is a someone that doesn't have the document that will be needed to complete KYC verification for various reason. That's a bad decision early for the exchange. Binance the leader is not asking for KYC upto 2BTC daily trading.
The move would increase the dependence of Binance.
KYC with it's recent misuses have led negative image of it on every investors and traders.
Binance would have KYC if they didnt move out in china they moved their headquarters and servers on japan because of the crypto ban on china before.The move would increase the dependence of Binance.
KYC with it's recent misuses have led negative image of it on every investors and traders.
KUCoin has decided to force KYC for every of it's users.
Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?
https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/
Quote
In an attempt to remain as one of the most trustworthy and transparent exchanges in operation, KuCoin will start enforcing KYC checks on users. This measure is to ensure KuCoin remains compliant with the developing regulations in the crypto industry.
Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?
https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/
Nowadays trend is like this. I do not know why exchange force us to pass Kyc and I don't accept it as well, but what can we do?
I think that's the bad move for them they are not yet established exchange in market and if you compare them with binance they are far back in terms of trust.
If a user does not accept KYC, is there a limit to withdraw coins from Kucoin? I do not want to have to go through KYC.
has this question already been answered? Of course it would be nice if small trades could do without KYC. $ 1000 or $2000 is still ok.or have to make all kyc from $ 0
There are advantages and disadvantages in all things but I have come to realize that providing KYC on exchanges is not a bad idea, actually i think it should have been one of the rules in regulating all exchanges this because KYC would ensure that transactions done are transparent.
I think that KYS is not a bad thing because it increases the safety of the funds invested. Although it is always inconvenient, but more reliable.
This is what will kill the use of cryptos and the trading aspect of it. The reason that people were drawn to cryptos in the first place is because of the anonymity that came with using cryptos but now the exchanges that are doing know your customer is ruining that for everyone. I am just glad that there are still some exchanges out there that you can use without KYC. This is getting annoying.
Kucoin is a good exchange to use but not recommended for trading because of not enough volume. Now they are forcing KYC just like binance with 2BTC limit in 24 hrs hours. I think it won't have any effect on the performance, reputation etc of kucoin.
That's a bad decision early for the exchange. Binance the leader is not asking for KYC upto 2BTC daily trading.
The move would increase the dependence of Binance.
KYC with it's recent misuses have led negative image of it on every investors and traders.
The move would increase the dependence of Binance.
KYC with it's recent misuses have led negative image of it on every investors and traders.
The majority of exchange ask KYC in now days. As for Kucoin, it's just like Binans. Ask KYC only if you want withdrawal more then 2 BTC in 24 hours. I think it's normal for most users.
There is a solution to this, use decentralised exchanges. We all know most of these centralised exchanges have to comply with government regulations. It will surely affect the volume on the exchange because we have seen how this moves by Bittrex affect the trading volume of their exchanges
More and more exchanges require KYC and I do not think that's good. I miss the time when KYC was a foreign word in the crypto world. Novaexchange new owners want KYC too. It is getting worse. 
KUCoin has decided to force KYC for every of it's users.
Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?
https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/
Quote
In an attempt to remain as one of the most trustworthy and transparent exchanges in operation, KuCoin will start enforcing KYC checks on users. This measure is to ensure KuCoin remains compliant with the developing regulations in the crypto industry.
Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?
https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/
In order for them to move on and grow KYC is very much needed to safeguard themselves from fraud cases, starting KYC for reputable exchanges is sooner or later. This move is to safeguard themselves from regulations and the user of Kucoin will also feel safer to be in a safe exchange
Very sorry. I liked this exchange so that there was no KYC. Of course, this will scare off a part of traders. I think kyc on Kucoin it was a matter of time.
Personally I don't have problems doing KYC but this decision will make KUCoin down with many positions in exchanges list....
Let's see how that is going to be playing out for them though, but KYC or not, any exchange that can come up with something out of the box as an exchange should be able to stay relevant.Yes, a lot of people are so adamant when it comes to KYC, but I feel it is just too early for them when looking at the competition around when they should be trying their best to get more users. I do not have any problem as well with that, but pretty sure it would have some little effect on them.
KUCoin has decided to force KYC for every of it's users.
Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?
https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/
Providing KYC on exchanges is i think one of the rules in regulating exchanges. In my own opinion, it would be advantageous to user's side if all user will provide KYC because this would ensure that this exchange is transparent and does not involve in fraud. Quote
In an attempt to remain as one of the most trustworthy and transparent exchanges in operation, KuCoin will start enforcing KYC checks on users. This measure is to ensure KuCoin remains compliant with the developing regulations in the crypto industry.
Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?
https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/
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