New exchange practices ! | Bitcointalksearch.org

Hazir

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Quote from: Whosdaddy on June 14, 2016, 12:56:45 AM

Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

Well, they just need your data to verify your account. They just not only deal with bitcoin they have others services also like VISA, Master Card etc for that services they need personal data. If you want to anonymity you can use others exchanges. I am using other exchanges without giving them my personal data. I just buy and sell bitcoin on that website and still dont face any problem.

What other exchanges are you talking about here? Can you post some names of cryptocurrency trading platforms where I don't need to send them my personal information and ID scans?
And I am aware that by p2p trading you can eliminate KYC an AML procedures. But I am talking about centralized exchanges here.

Whosdaddy

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Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

Well, they just need your data to verify your account. They just not only deal with bitcoin they have others services also like VISA, Master Card etc for that services they need personal data. If you want to anonymity you can use others exchanges. I am using other exchanges without giving them my personal data. I just buy and sell bitcoin on that website and still dont face any problem.

kotwica666

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Quote from: nemgun on June 13, 2016, 08:07:15 AM

Quote from: alyssa85 on June 13, 2016, 07:52:14 AM

Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

It is because both of them deal with fiat. Bitcoin is unregulated by fiat has to comply with money-laundering rules.

You don't have to use the exchanges - you can buy bitcoin using localbitcoins from another individual - just note that you'll pay more for the privilege.

this is the problem xD

The thing is that i don't want to spend fiat to get bitcoins, i swore not to do so. i just want to mine an alt, exchange it to btc and store it in a safe place for better days Cheesy

There is few exchanges that don't need verification to trade only cryptocurrencies. For example https://www.bitmarket.net/ - as i know thay ask for veryfication when your transactions exceed 15000 EUR

nemgun

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Quote from: alyssa85 on June 13, 2016, 07:52:14 AM

Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

It is because both of them deal with fiat. Bitcoin is unregulated by fiat has to comply with money-laundering rules.

You don't have to use the exchanges - you can buy bitcoin using localbitcoins from another individual - just note that you'll pay more for the privilege.

this is the problem xD

The thing is that i don't want to spend fiat to get bitcoins, i swore not to do so. i just want to mine an alt, exchange it to btc and store it in a safe place for better days Cheesy

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Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

It is because both of them deal with fiat. Bitcoin is unregulated by fiat has to comply with money-laundering rules.

You don't have to use the exchanges - you can buy bitcoin using localbitcoins from another individual - just note that you'll pay more for the privilege.

nemgun

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what i say is that it expands to other services like paysafecard, netteler skrill not only exchanges but any service holding money, paysafe took me 150 euro and blocked my account arging that i use a bad ip !?!

CoinSiteDesigner

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Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

If they're asking for your personal data, you always have choices like c-cex, yobit, cryptopia and some other.

If you do not wish to share your personal data with them, just stay away from them.

kotwica666

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Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

It is not about Bitcoin, it is about FIAT currency and AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism - more here: https://www.imf.org/external/np/leg/amlcft/eng/) It is an international law imposing the obligation to provide detailed information in case of exceeding the limits of handling money.
The limits determine each country individually, and I do not think that there is a country where you can legally trade without limits. So boycott has no chance.

nemgun

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It is true for bittrex, i don't have any information request for now, but i am still suspicious about what they do with these information, as they ask for scans of ID and proof of residence, it is easy to find a buyer for this kind of informations, and even if they say not to use your credencials, no one can say what they really do with them.

HarryKPeters

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Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

They are required by law to do this. It's to provent money laundering and terrorist attackes.
You can read more about Know your customer here: https://en.wikipedia.org/wiki/Know_your_customer

~Bitcoin~

legendary

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Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

It is because they are bound by law of the governement where they operate and we called it KYC policy. But poloneix and bitfinex doesn't ask personal data for small amount as i am doing exchange in them without giving any of my personal info.

enhu

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Quote from: nemgun on June 12, 2016, 06:49:56 PM

Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

Its the same practice FOREX brokers do. Exchange sites are being monitored by governments though call it like a mandatory for them to do so.

avatar_kiyoshi

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Because they are not decentralization exchange, they use your data to verify your account. Actually it's can be a secure system for an exchange side, but it's lack for users who want an anonimity.
This why you don't store your assets on exchange wallet. Just don't.

DonMarco

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We can say they are proffesional and registered as an company operating money, they have funds stored if something happen etc etc if They want to exist on this scale they need to have this data. Yeap it is totally anty bitcoin i think but i don't use them than i don't need to know.

If i want to buy bitcoin i go here or use PSC
If i want to sell bitcoin i will same use PSC or any other product.
I never give any info to website like cryptsy etc etc

nemgun

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Hello, i would like to ask you why exchanges like kraken and CEX.io ask for personal datas ? what would they do with them ?
I think that if we like to use bitcoin it is because of the anonimity, so don't you think that we should boycot this kind of web sites ?

Topic: New exchange practices ! (Read 656 times)