Should We Avoid US Based Exchanges Now?

ardentvolcanoes

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Quote from: idrisalomagold on December 22, 2020, 10:07:03 PM

We cannot deny the fact that the US is very particular about cryptocurrency and its decentralized nature. So, in order to at least control, they asked KYC on clients from known US-based crypto exchanges. Having said that they can identify the person belongs and doing on such transaction in the market makes traders on given exchanges become vulnerable on such regulations - which in fact very rigorous.
IMO, at least if we want total anonymity having less concern on such issues, I think we need not engage in US-based crypto exchanges. This is an opinion off-course, but if it is not our top priority; well just ignore it//

They will do within their power to keep their eyes from every assets that their citizens have, US based exchange are very strict in compliance

with KYC, if you are not okay with that then avoiding exchange and use alternatives exchange should be done, there are DEX but you need to

understand all the risk.

Silberman

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Quote from: imstillthebest on December 22, 2020, 06:51:43 PM

Quote from: loopes on December 22, 2020, 11:54:00 AM

Quote from: WinBitcoinsCasino on December 22, 2020, 11:31:04 AM

People use Crypto for anonymity. Why to use US based exchanges that ask for documents then? The new breed of exchanges will soon rule.

Yeah sure one of people intention to use cryptocurrency is being anonimous. but, trading/exchanges platform need to do KYC for risk management includes krakken dan coinbase (US Based Exchanges).
KYC process will help exchanges platform to mitigate the risk of being intentionally or intentionally exploited by scammers/criminal in order to do illegal financial activities. so its a prevent action to against criminal activities. But, it's commonly make pro and contra for it.

good explanation . kyc dont look bad if we will explain it clearly and understabdable for the reader and to those that dont know if what is kyc and why it is needed .

@WinBitcoinsCasino . what new breed of exchange . decentralized exchange dont need a kyc and they are not new . you are allowed to use it if you still dont like to use a centralized exchange because of kyc

I think we all know the reasons behind KYC verifications, that does not mean we have to like them especially in a market that even now is composed mainly of people that care about their privacy and do not want to expose all their information for everyone to see, so as these kind of policies keep getting stronger and stronger this will lead people to begin to use decentralized exchanges, which I think I is a good thing as this will finally begin to reduce the power of centralized exchanges which are simply too powerful.

thesmallgod

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I am just worried if you understand those other centralized exchange rules you are intending to shift into. I know binance also have a dedicated exchange for US traders awhile ago. If you can complete the KYC of kraken and coinbase as they have asked, I do not see any reason to consider some other centralized exchange unless you are considering decentralized exchange because all CEX has same features in common. You will need to complete KYC in order to increase daily withdrawal limit on most CEX. I am not sure, but I suppose using coinbase and Kraken must have given you some additional opportunity over other CEX. US government know that huge crypto traders resides in the country and I do not think they will do anything against the interest of their citizens

kidbounty

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HELENA

Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

for those who are not American citizens better to use another exchange. But for those who live and have an American passport, there is no option. they must follow the applicable regulations. as long as crypto trading has not been banned, I don't think the KYC issue is an important focus. after all the exchange there has a good level of security.

and the level of trading volume is also a consideration. US-based exchanges have a large volume. so users don't have to worry about this. If i'm an American, I prefer to stick with an exchange like Coinbase or Kraken. than using another exchange.

idrisalomagold

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We cannot deny the fact that the US is very particular about cryptocurrency and its decentralized nature. So, in order to at least control, they asked KYC on clients from known US-based crypto exchanges. Having said that they can identify the person belongs and doing on such transaction in the market makes traders on given exchanges become vulnerable on such regulations - which in fact very rigorous.
IMO, at least if we want total anonymity having less concern on such issues, I think we need not engage in US-based crypto exchanges. This is an opinion off-course, but if it is not our top priority; well just ignore it//

imstillthebest

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Quote from: loopes on December 22, 2020, 11:54:00 AM

Quote from: WinBitcoinsCasino on December 22, 2020, 11:31:04 AM

People use Crypto for anonymity. Why to use US based exchanges that ask for documents then? The new breed of exchanges will soon rule.

Yeah sure one of people intention to use cryptocurrency is being anonimous. but, trading/exchanges platform need to do KYC for risk management includes krakken dan coinbase (US Based Exchanges).
KYC process will help exchanges platform to mitigate the risk of being intentionally or intentionally exploited by scammers/criminal in order to do illegal financial activities. so its a prevent action to against criminal activities. But, it's commonly make pro and contra for it.

good explanation . kyc dont look bad if we will explain it clearly and understabdable for the reader and to those that dont know if what is kyc and why it is needed .

@WinBitcoinsCasino . what new breed of exchange . decentralized exchange dont need a kyc and they are not new . you are allowed to use it if you still dont like to use a centralized exchange because of kyc

Hypnosis00

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If your country is not allowed to any US exchanges then it is for you to stop using them.
To the fact that they doing good to me, with a good market volume, there is no reason why we should stay away from them. And, in regards to KYC, that will depend on our discretion, even known and reputable exchanges asking this (even outside the US), and sooner this will be required to all registrants.

Silberman

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

While each person thinks differently I really think that we should begin to avoid US exchanges, the regulations are only going to get worse as time passes and you do not want to have your coins there and then be hit with a notice that you cannot withdraw your coins until you pass some new and more intrusive version of KYC you now have to comply, it is better to save yourself the headaches and use other exchanges, after all it is not like we do not have many more options that are on par or that are even better than what the US centralized exchanges offer.

MCobian

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All centralized exchanges must have KYC applied to my knowledge, so as long as you are still using the centralized exchanges,
you have to do KYC verification. It's all rules from the government, including local exchanges in all countries. So it's not only
US based exchanges that enforce KYC, but if you are not comfortable using Kraken and Coinbase it is your right not to use them.
My advice is that you should try decentralized exchanges if you want to avoid KYC procedures.

OscarDavidson

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I think centralized exchanges are more reliable than other platforms. For me, it's one of the most important conditions. I don't avoid passing any KYC procedures because I am sure that my actions have to be transparent and legal and I want to know that other customers do it as well.

loopes

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Quote from: WinBitcoinsCasino on December 22, 2020, 11:31:04 AM

People use Crypto for anonymity. Why to use US based exchanges that ask for documents then? The new breed of exchanges will soon rule.

Yeah sure one of people intention to use cryptocurrency is being anonimous. but, trading/exchanges platform need to do KYC for risk management includes krakken dan coinbase (US Based Exchanges).
KYC process will help exchanges platform to mitigate the risk of being intentionally or intentionally exploited by scammers/criminal in order to do illegal financial activities. so its a prevent action to against criminal activities. But, it's commonly make pro and contra for it.

WinBitcoinsCasino

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People use Crypto for anonymity. Why to use US based exchanges that ask for documents then? The new breed of exchanges will soon rule.

AakZaki

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will have no effect when it comes to avoiding US-based exchanges or not. I am also not a resident of the US but I have a verified coinbase account. But I don't completely store coins on coinbase.

A better and Non US exchange is binance. I prefer binance. I have also been verified on Binance as well as an official P2P partner. Binance is a popular exchange that is widely used today, and it is the most appropriate exchange.

bitterguy28

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

Actually Binance also required KYC though with certain amount before this will be triggered .
You don't have to ask this here,cos it is your decision and seems like you already did, the way this thread goes is you are against or somewhat had a dislike in that exchanges.
We have different treat in Exchanged and not all of us wanted privacy ,so as long as there is no literal foul happening there is no need for a majority call.

Nhor1011

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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 think, there's no need for you to worry because I think there are other crypto exchange in your country that you can use except for Kraken and Coinbase. Also don't be scared about KYC because later own you can't avoid that and as long as you did right then don't worry.

Betwrong

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CMIIW, but I think people are giving too much importance to KYC, in general. In fact, we are going through the KYC each time when buying goods in a supermarket with our credit card, and unless we are buying stuff for making explosives, we have nothing to worry about. Same with exchanging crypto, the process itself is not illegal, and unless you are looking for laundering millions of USD, you have nothing to worry about either.

dothebeats

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I don’t use them anyway so I think any big changes in regulation would affect me. Though most probably some other regions would adapt, or at least consider, doing some changes relevant or related to what the US implemented should it become successful. While exchanges like Binance would surely retain its current regulations to cater to most parts of the world, their US front need to comply with whatever regulations in place.

It’s not that bad really. And IMO somewhat better since the regulations adapt to the events in the crypto scene.

arwin100

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Quote from: harizen on December 21, 2020, 03:42:33 PM

Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

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*.

It's hard to deal with something we don't know and we don't like but if he cannot handle it since truly dislike the idea that providing his own identity on US base exchange then he should avoid it but for me I will go on that way since what matter to me is the security and I see those US base exchange are kinda safe for now compare to the other exchange who run quite good today.

serjent05

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If we have nothing to hide then why should we avoid US-based exchanges? Sooner or later other exchanges that don't implement KYC will soon do because of the regulation. As far as I know, other exchanges such as Kucoin and Huobi also implement KYC so if you really wanted to avoid KYC use the decentralized exchanges. There is nothing much better solution than that.

Prince Malik

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Its all about your need and your thinking...i dont know manythings about kraken and i wonder if there is some sides in this exchange that can help you in trading more than binance...if not i think its better to use binance and avoid all bad surprises

Bitstar_coin

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SecureShift.io | Crypto-Exchange

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.

manfredmann

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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.

Sithara007

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Quote from: Jawhead999 on December 21, 2020, 09:51:21 AM

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/

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.

FinneysTrueVision

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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.

Ridwan Fauzi

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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.

yazher

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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 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.

Wexnident

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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.

shoreno

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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 .

stompix

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Blackjack.fun

Quote from: ?? on ??

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!

Quote from: Evilish on December 21, 2020, 03:30:47 PM

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?

imteaz

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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.

Lorokan

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

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.

harizen

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

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*.

Evilish

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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.

BrewMaster

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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.

TGD

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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.

inanilujimi

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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.

avikz

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

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!

bonjouros

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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.

ChrisPop

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I don't know why I thought Kraken is based in Europe. Roll Eyes

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.

Jawhead999

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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/

Darker45

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I personally think so. Anyway, it is not really such a big loss if you leave Coinbase and Kraken for Binance, KuCoin, or Huobi. They're all almost the same. They're on the same league. The platforms that you mentioned are close competitors of each other.

It seems to me that the US is a lot more aggressive than other countries in regulating, implementing strict rules, and even suppressing crypto-related businesses. At the end of the day, you are not a US citizen so you are not really barred from using those above-mentioned exchanges.

voron7477

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Avoiding US based exchanges won't be the solution. Bitfinex, for example, is based in Hong Kong, nevertheless its customers have to pass KYC. Don't want to deal with it? Avoid centralized exchanges.

davis196

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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 don't think that there's any big difference between using a US based or non-US based cryptocurrency exchange.In both cases,you will have to comply with the rules and submit personal data and ID photos.
If you think that Binance is better than Coinbase,then good luck.They are all bad,in one way or another and they all have flaws.
I wish that there will be a time,when we won't have to necessarily use crypto trading platforms,in order to trade coins.
Unfortunately,the governments won't let this happen.

bolawin

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maybe you should start using decentralized exchange instead

bayu7adi

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

Just do what you like, when you want to transact on US-based exchanges and you feel insecure or uncomfortable, there are still a lot of other exchange options. Moreover, when you are not a US citizen, I don't think it will interfere with your freedom to do digital transitions as long as there is an internet connection. You can forget about US-based exchanges and try Binance or Bithumb to suit your business needs or your trading activity.

The large number of cryptocurrency exchanges makes us more comfortable in making choices based on our personalities.

ultrloa

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

Its really worth to avoid them? I think not since if they are the old reputable once which can be trusted well there's nothing wrong with that but if those small exchanges that possibly run by scammers then we will get a huge problem with that. KYC is really awful thing required but if that one is required by the law then lets comply it, But if you are not comfortable then try to use the other sites who you think a less hassle one for you.

cryptomaniac_xxx

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

Regulations is crypto is everywhere, regardless if the exchange you are using are US or Malta based, doesn't matter.

https://public-inspection.federalregister.gov/2020-28437.pdf

So sooner or later centralised exchanges that doesn't require KYC for now, will have to comply with the FINCEN regulation.

Alexander Severus

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I live in the UK. I havn't used a UK exchange before, but I guess if something horrible went wrong you'd have more legal recourse to do something about it if the exchange is based in your own country.

Depositing and cashing out in fiat hasn't been a problem for me as I use this UK based bank app called Revolut which allows you to switch any fiat currency to any another with very small fees.

sunsilk

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There's no need to worry if you're not a US resident then just don't use those exchanges that you're not good with their terms. If they implement KYC because there are news that they're about to become strict with its implementation then use exchanges that are not scope of that rules.

But there would be traders that are good in that terms and wouldn't mind following it. Just as it, we can mind ourselves what we prefer in exchanges. We've got plenty of choice so you stick to what you want and avoid what you want to avoid.

fiulpro

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Quote from: Alexander Severus on December 21, 2020, 03:49:44 AM

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.

Hello
I do believe that you have to understand that no matter what these exchanges won't change their policies or anything . I do think no matter what , stick to a local exchange. If you are a US resident, you cannot avoid it for sure. Binance is a good choice more or so but I do believe the local exchanges will give you good chances of making profits and you won't have to convert them into other currencies before trading.
These exchanges too will make KYC mandatory soon though.
Where are you from ? Plus now a days KYC is everywhere not just in the US and for the safe side I do prefer exchanges which use KYC since this gives us the right to stand up for any issues in the future if god forbid something happens. If the cryptocurrencies are protected by laws in that particular state and at the same time their policies state you can do it. Use it ! Don't make much of the KYC. If you do like that exchange go for it , if no go for a good local one.
**But let us please remember the fact that all these KYC etc... Is just secondary, if you do have FB in your mobile and KYC attached to your bank account which is essential everywhere your information is already tracked and registered**

Alexander Severus

newbie

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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.

Topic: Should We Avoid US Based Exchanges Now? (Read 572 times)