Topic: Should We Avoid US Based Exchanges Now? - page 2. (Read 568 times)
The worst among this centralize exchange is the type that won't give a limit withdrawal to non kyc accounts, i just had a soar experience with gate.io, i never knew kyc is required for any amount - small or large, and the sad thing is i already deposited my coins for trade and now i want to withdraw my funds am not allowed because i have to pass kyc for a withdrawal that is below $1000, see why binance will remain the best among them all.
I think I should not. Some exchanges basing on US are with high reputation and this is why I think having those exchanges can get you to earn by anticipating those exchanges with high market cap volume. We know that that USA is one of the country that has been listed as top countries for using cryptocurrency. So, trading in their exchanges may do good in yoi especially if you know how to do trading in an exchanges.
KYC is mandatory on Centralized exchanges, so you could be asked to provide KYC anytime. Coinbase, Kraken, Binance, Kucoin, Huobi all of them is centralized exchanges.
To avoid any KYC you can use Decentralized exchanges (e.g. Bisq [1], Hodl Hodl [2]) or Bitcoin ATM (the fee quite higher than unusual)
[1] https://bisq.network/
[2] https://hodlhodl.com/
To avoid any KYC you can use Decentralized exchanges (e.g. Bisq [1], Hodl Hodl [2]) or Bitcoin ATM (the fee quite higher than unusual)
[1] https://bisq.network/
[2] https://hodlhodl.com/
If you just want to exchange your cryptocurrency for fiat cash (or vice versa), then you can use peer-to-peer platforms such as Localcryptos. Dex sites such as Bisq are good for anonymity, but they don't have the liquidity that the mainstream exchanges posses. That means that you may have to wait longer to get a good offer, and the prices may be below the prevailing market rates.
They are really trying to crack down on cryptocurrency. I would not trust a US exchange because the government doesn't care where you are from. If they want to shut down an exchange and seize their funds they will not hesitate to do it. They don't care about the rule of law. They make it up as they go along. The Trump administration sees bitcoin as a threat and I don't expect the Biden administration to be more understanding.
Indeed, an exchange is one of the factors that can make you get money in crypto currency, yeah it is only one factor.
If you are not comfortable when using the exchange you just simply leave it and find another exchange.
Crypto currency is free to be used by everyone, although a country bans and prohibits the utilization of it you can still use it, don't make it your burden.
If you are not comfortable when using the exchange you just simply leave it and find another exchange.
Crypto currency is free to be used by everyone, although a country bans and prohibits the utilization of it you can still use it, don't make it your burden.
In terms of centralized exchanges do you think it would be better to use ones not based in the US now?
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
Btw I'm not personally a US citizen and the KYC rules and regulation on transactions the US government doing seem like a huge hassle now, so would be good to avoid that.
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
Btw I'm not personally a US citizen and the KYC rules and regulation on transactions the US government doing seem like a huge hassle now, so would be good to avoid that.
I am not a US citizen as well, so we don't need to choose whether we use it or not. only those people who don't have their own local exchanges are using it or those who reside in the US. Because there are some countries who don't really need to use US-based exchanges cause they have their own like us and there are those who don't because their country has some tight rules about bitcoins.
US-based exchanges have always been a bane to most people due to the stupid amount of regulations they have with regards to KYC. You can freely use other exchanges, there are some that don't have limits anyway. Though tbh, if your problem was KYC, then most centralized exchanges wouldn't fit you, I mean most of them ask for KYC, it's just a matter of sooner or later imo. Just use Decentralized exchanges at that point, just so that you don't have to deal with the pain of learning another exchange due to you being kicked out because of you not giving KYC info to them.
Besides, don't even expect on US actually going lenient on those KYC procedures, heck afaik they're only making it more and more apparent that they're basically asking for information when you register on their exchanges.
Besides, don't even expect on US actually going lenient on those KYC procedures, heck afaik they're only making it more and more apparent that they're basically asking for information when you register on their exchanges.
even before i already avoided the first two exchange that you list but i didnt knew that they are from the us but if i knew they were i think i wouldnt care at all but what important to me is that i am comfortable with the exchange that im using .
i like binance and many people like binance but it such a co incident that binance is not from the u.s but binance just offer a great service and binance ask a kyc too but people still comply on it .
i like binance and many people like binance but it such a co incident that binance is not from the u.s but binance just offer a great service and binance ask a kyc too but people still comply on it .
I care less about the location of an exchange.
And so does the US government.
Seriously people, why do you think just avoiding an exchange that is based in the US will keep your funds and information out of their reach?
Remember BTC-E? An if that was too long ago, let's think two months time, Bitmex and Arthur Hayes ?
And this is the same for every country, OkeX is based in Malta, that didn't stop Chinese authorities to arrest their CEO.
There is a fake sentiment of security when an exchange is based in another country with lax laws but that doesn't mean a thing for them.
Right now you should think like this, do I have a problem using a US-based exchange? Other than living in a restricted country, something base on their regulation? Then no centralized exchange is the right choice for you!
Please correct me if I am wrong, but haven't more established exchanges like Coinbase and Kraken been doing KYC for ages?
I think that the question should be more like, was there a time when they didn't?
We should always avoid keeping any coin in exchange, I personally don't keep the coin in exchange it's very risky. And of course, especially US-based exchanges are the more risker, I would keep in my private wallet. I heard in the past people lost so much money keeping coins in the exchange or avoid this.
In terms of centralized exchanges do you think it would be better to use ones not based in the US now?
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
Btw I'm not personally a US citizen and the KYC rules and regulation on transactions the US government doing seem like a huge hassle now, so would be good to avoid that.
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
Btw I'm not personally a US citizen and the KYC rules and regulation on transactions the US government doing seem like a huge hassle now, so would be good to avoid that.
You should join, use or make use of centralized exchanges that does not have any restricting order in your country or place or residence. As a trader or investor not based in the usa, you should worry less about usa laws. Focus and learn, firstly learn that centralized exchange are not the best storage system. Also remember that you have to avoid phish link, set up 2fa, protect your email and funds. And finally you need to stay informed.
In terms of centralized exchanges do you think it would be better to use ones not based in the US now?
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
It basically depends on your own preference and convenience.
If you think it's a pain in the ass dealing with US-based exchanges then you can test the waters on other exchanges to meet your expectations. However, always expect that centralized exchanges, even non-US based are bound to be regulated.
What matters to me is good service. I'm fine complying with KYC with consideration*.
Please correct me if I am wrong, but haven't more established exchanges like Coinbase and Kraken been doing KYC for ages? At least that has been my experience with them and I had to go through ID verification.
you keep saying "now" but i honestly don't see anything that has changed in recent times about anything that is based on US. you should avoid them all if you can, any company that is based on US will be a terrible thing to use for your privacy and personal security. whether it is a multi billion dollar company like Google or a tiny bitcoin exchange. for as long as i can remember they have been doing pretty much the same intrusive stuff.
Most of the Centralized Exchange regardless of the country they are located requires KYC for AML compliance purposes. They will force user to do it at some point once they found out that you have some suspicious transaction or trades that your account don't normally do. DEX is your best option if you really want to avoid to do KYC but that this is just a temporary solution. Soon, most of the exchange will requires verification in every account for compliance.
It's simple if we object to the existing regulations, there are many other exchanges that are not too strict in the rules. we can choose in a case like this.
if I personally it is better to be in a safe zone than to have later become a problem that we cannot solve.
if I personally it is better to be in a safe zone than to have later become a problem that we cannot solve.
In terms of centralized exchanges do you think it would be better to use ones not based in the US now?
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
Btw I'm not personally a US citizen and the KYC rules and regulation on transactions the US government doing seem like a huge hassle now, so would be good to avoid that.
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
Btw I'm not personally a US citizen and the KYC rules and regulation on transactions the US government doing seem like a huge hassle now, so would be good to avoid that.
Without going into the debate whether you should use a US based exchange or not, I would rather request you to please be prepared to become kyc verifiable in future. The meteoric rise of bitcoin's price will not go unnoticed by the governments around te world.
At some point in future, every crypto exchanges will impose KYC if they want to run their business legally. So it's better to have yourself prepared for this!
If you are experiencing some problems in using a US base excahanges then it will be best if you will avoid them as I saw also that US is very strict with their regulations and the US government actions towards crypto is unpredictable so it will be best if we can avoid using a US base exchange if it is possible especially if you want to avoid any problem in the future.
I really hate KYC therefore I didn't use any US base exchanges but I am sure that there are many also that didn't encounter any problem in using a US base exchange. It is a matter of compatibility only, if you have no problem with their TOS and further changes of their TOS once the US government will implement a new regulations again then using as US base exchange is not a problem at all.
I really hate KYC therefore I didn't use any US base exchanges but I am sure that there are many also that didn't encounter any problem in using a US base exchange. It is a matter of compatibility only, if you have no problem with their TOS and further changes of their TOS once the US government will implement a new regulations again then using as US base exchange is not a problem at all.
I don't know why I thought Kraken is based in Europe. 
To be sincere, Coinbase and Kraken seem safer to me. Maybe exactly due to the tighter regulations. I wouldn't feel safe holding a huge part of my funds on an asian exchange. But I might be biased, it's just how I feel.
The best way is to be responsible and keep your stack on your personal wallets. Paper wallets and hardware wallets are the best.
To be sincere, Coinbase and Kraken seem safer to me. Maybe exactly due to the tighter regulations. I wouldn't feel safe holding a huge part of my funds on an asian exchange. But I might be biased, it's just how I feel.
The best way is to be responsible and keep your stack on your personal wallets. Paper wallets and hardware wallets are the best.
KYC is mandatory on Centralized exchanges, so you could be asked to provide KYC anytime. Coinbase, Kraken, Binance, Kucoin, Huobi all of them is centralized exchanges.
To avoid any KYC you can use Decentralized exchanges (e.g. Bisq [1], Hodl Hodl [2]) or Bitcoin ATM (the fee quite higher than unusual)
[1] https://bisq.network/
[2] https://hodlhodl.com/
To avoid any KYC you can use Decentralized exchanges (e.g. Bisq [1], Hodl Hodl [2]) or Bitcoin ATM (the fee quite higher than unusual)
[1] https://bisq.network/
[2] https://hodlhodl.com/
Jump to: