Trade without identification? - page 3.

Virtual miner

sr. member

Activity: 728

Merit: 275

Quote from: Melkoroth on January 15, 2018, 12:58:17 PM

Hi,

The exchanges I saw till now demands a copy of my ID card to let my buy or sell anything. Is there anyone that dont ask for it? Im not happy with let my ID through internet, and I dont know how can they do with it. Is it possible to do antoher way?

Thanks

Its possible but only upto a certain extent. Like Most of the exchanges have 1 BTC withdrawal limit for unverified accounts. While for some exchanges like Binance the limit is 2 BTC. Except that you can prefer decentralized exchange if you aim to trade higher amounts but decentralized exchanges have their own demerits ranging from low volume, poor interface and lack of customer support.

Bolt Brownie

sr. member

Activity: 700

Merit: 350

Betting Championship betking.io/sports-leaderboard

Quote from: Melkoroth on January 15, 2018, 12:58:17 PM

Hi,

The exchanges I saw till now demands a copy of my ID card to let my buy or sell anything. Is there anyone that dont ask for it? Im not happy with let my ID through internet, and I dont know how can they do with it. Is it possible to do antoher way?

Thanks

You have plenty of exchanges that do not ask for ID verification, and some of the most "trusted" ones, if you can actually really trust an exchange, have already been pointed out by some users. The problem in my opinion, is that as regulation of crypto takes place, I'm pretty sure all exchanges running with a license will have to comply with KYC regulations. That's the norm in financial services to somewhat help prevent, or at least make money laundry more difficult. So these exchanges will probably ask for ID in the future or close doors in my opinion, so you should still be careful with them.

Melkoroth

newbie

Activity: 8

Merit: 0

Quote from: tomahawk9 on January 15, 2018, 01:54:27 PM

Quote from: Melkoroth on January 15, 2018, 12:58:17 PM

Hi,

The exchanges I saw till now demands a copy of my ID card to let my buy or sell anything. Is there anyone that dont ask for it? Im not happy with let my ID through internet, and I dont know how can they do with it. Is it possible to do antoher way?

Thanks

You are not sharing your ID to the internet, only to the database of the exchange. As long as the exchange is secure your ID will be safe.

Exchanges are not going to share your personal data to 3rd parties unless you do something against the law (money laundering, for example), in this case they are required to do so. If they share your ID without your consent they could face serious consequences.

I'd recommend you to just give them your ID, it'll be safer for both you and the exchange.

How you know they didnt share? How can you prove they did it, if they did it? You cant. Is the perfect crime, if anyone buys youre id from them, do you think he tolds from where it was obtained?

I repeat, is safer for the exchange to prevent crimes, for you is the same. They can fool you with or without id

Melkoroth

newbie

Activity: 8

Merit: 0

Quote from: starsnshamrocks on January 15, 2018, 01:42:57 PM

A risk would be, that if you find an exchange now, which does not demand an ID .. the question will be, what about the moment you want to cash out?
Things can change very fast. The exchange which is open for everyone now, might not be in the near future, once authorities have put pressure on it.

But what about if you only want to change some fiat to bitcoins and put to youre own wallet? This cant take long time. And giving him youre ID didnt asure you that you can cash out. In fact is a security factor for exchange from you, no to you from the exchange. They can go away with your cash and youre ID an then...whar?

tomahawk9

hero member

Activity: 2086

Merit: 994

Cats on Mars

Quote from: Melkoroth on January 15, 2018, 12:58:17 PM

Hi,

The exchanges I saw till now demands a copy of my ID card to let my buy or sell anything. Is there anyone that dont ask for it? Im not happy with let my ID through internet, and I dont know how can they do with it. Is it possible to do antoher way?

Thanks

You are not sharing your ID to the internet, only to the database of the exchange. As long as the exchange is secure your ID will be safe.

Exchanges are not going to share your personal data to 3rd parties unless you do something against the law (money laundering, for example), in this case they are required to do so. If they share your ID without your consent they could face serious consequences.

I'd recommend you to just give them your ID, it'll be safer for both you and the exchange.

starsnshamrocks

full member

Activity: 168

Merit: 100

A risk would be, that if you find an exchange now, which does not demand an ID .. the question will be, what about the moment you want to cash out?
Things can change very fast. The exchange which is open for everyone now, might not be in the near future, once authorities have put pressure on it.

Melkoroth

newbie

Activity: 8

Merit: 0

Quote from: whirlcoin on January 15, 2018, 01:32:32 PM

Quote from: Melkoroth on January 15, 2018, 12:58:17 PM

Hi,

The exchanges I saw till now demands a copy of my ID card to let my buy or sell anything. Is there anyone that dont ask for it? Im not happy with let my ID through internet, and I dont know how can they do with it. Is it possible to do antoher way?

Thanks

Now a days most of the exchages asking for identification this is due to the government rules maybe, because many government are strict with the cryotocurrency or it will encourage illegal activities in theor countries.So I think it is necessary to provide the ID so crimes can be cut down.
But some exchanges like Binance maybe not asking ID for registration as for now but they also will implement it soon.So you have to be ready with your ID if you want to trade on best exchanges.

Im aware of it, but think about it. Do you know who are behind every exchange? Do you know how they store youre ID and sure that they dont sell it to someone or it can be stoled from them? They wouldn´t be the first one, and then you´re ID can be involved in the crime you want to cut down. Are you sure that youre ID is as safe as can be in bank?

whirlcoin

full member

Activity: 602

Merit: 111

Quote from: Melkoroth on January 15, 2018, 12:58:17 PM

Hi,

The exchanges I saw till now demands a copy of my ID card to let my buy or sell anything. Is there anyone that dont ask for it? Im not happy with let my ID through internet, and I dont know how can they do with it. Is it possible to do antoher way?

Thanks

Now a days most of the exchages asking for identification this is due to the government rules maybe, because many government are strict with the cryotocurrency or it will encourage illegal activities in theor countries.So I think it is necessary to provide the ID so crimes can be cut down.
But some exchanges like Binance maybe not asking ID for registration as for now but they also will implement it soon.So you have to be ready with your ID if you want to trade on best exchanges.

bitcoinisbest

hero member

Activity: 1218

Merit: 557

Quote from: km4700ruda on January 15, 2018, 01:14:04 PM

Cryptopia, Kucoin and Cobinhood are not asking for KYC or AML identifications at the moment, so it means that you do not need to provide your id, passport or just a bill under your name. I do not trust those who are asking for them.

You can also add binance to the list that do not require verification if you are a small trader or do not want to withdraw the big numbers form the wallet. Else you will require the verification process to be completed.

If its listed form couple of years and has good review then actually you can trust those sites as they are still better and safer than any other exchanges.

km4700ruda

full member

Activity: 518

Merit: 100

Cryptopia, Kucoin and Cobinhood are not asking for KYC or AML identifications at the moment, so it means that you do not need to provide your id, passport or just a bill under your name. I do not trust those who are asking for them.

Melkoroth

newbie

Activity: 8

Merit: 0

Hi,

The exchanges I saw till now demands a copy of my ID card to let my buy or sell anything. Is there anyone that dont ask for it? Im not happy with let my ID through internet, and I dont know how can they do with it. Is it possible to do antoher way?

Thanks

Topic: Trade without identification? - page 3. (Read 458 times)