With kyc i get better coins ?? Like usdt ?

Maxstl007

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Quote from: OpenCryptoSystem on December 27, 2020, 04:31:44 PM

So i get better coins ?
If i do kyc ? The stable coins like usdt and all ready coins with value ? So i can exchange them instant to fiat if i want ?

There are bad coins on exchanges that requires KYC still, KYC verifications doesn't erase bad projects, you have to do your own research on projects before buying them, there are also some exchanges that don't requires KYC and you can buy whatever you want, e.g binance exchange

OcTradism

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With KYC, you only ruin your life but without KYC it does not mean you are safe from tracking. Exchanges and browsers can track your activities and get your identities.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets. Your stable coins can be frozen anytime as they are launched and managed by centralized companies. Centralized companies have other risks from government's lawsuits. Do you know the very recent lawsuit and fud on Ripple?

SEC Charges Ripple and Two Executives with Conducting $1.3 Billion Unregistered Securities Offering

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There is no doubt that I will have to do KYC verification to start trading on a local exchange. This is a provision of service that has been regulated by the government to prevent crypto abuse. But not all of us like KYC for identity security reasons and this has been discussed repeatedly here. I'm fine with KYC for local exchange, but I have a slight objection to doing KYC on other exchange that are only meant to get something of little value.

mk4

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Quote from: Brindez_kromo on December 27, 2020, 10:22:06 PM

Is there any guarantee after doing KYC we will get the token? is it safe to hand over our personal data information to them?
I have always disagreed with the mandatory rules of doing KYC to obtain tokens because it can harm us in the future,, unless we do so on certain markets to sell and buy tokens,, trading platforms for example

If we're going to make the assumption that ALL of these services will get breached some time in the future, then of course the answer is no. Hence why it's heavily recommended to submit AML/KYC to services only at the bare minimum, pretty much just when really really necessary(banking, health-related, etc).

Brindez_kromo

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Is there any guarantee after doing KYC we will get the token? is it safe to hand over our personal data information to them?
I have always disagreed with the mandatory rules of doing KYC to obtain tokens because it can harm us in the future,, unless we do so on certain markets to sell and buy tokens,, trading platforms for example

Stedsm

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Stablecoins have a value, but it is fixed. And why do you really need anything special like kyc at the first place just to use Fiat stablecoins? There's nothing like that, you can simply use almost everything with having some more features being made available to you when you go for a KYC like allowing you to purchase through card, it allows you to go limitless when being able to buy a huge amount of any tokens with USDT or any other cryptocurrencies.

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

USDT is in no way a better coin as compared to the likes of BTC because unlike BTC it's actually centralized and the owners can decide to do anything to it include freeze the token in your wallet. So do not be lied to that once you verify you KYC documents, you will get "better" coins like USDT

The only advantage it has is that it's a stable coin and there it helps avoid your portfolio from succumbing to volatile drops in price for cryptos.

khaled0111

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If you want to exchange cryptocurrencies for cash then most exchanges will ask you to verify your identity and pass KYC. You will have to provide your personal information in all cases like your bank account, credit card info...
But KYC has nothing to do with stable coins or any of the other top ranked coins. You can trade them on exchanges which do not require identity verification.

hatshepsut93

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KYC is just a policy on exchanges due to government regulations. Some exchanges won't allow you to use them at all until you provide your documents, others will allow you to trade, but you'll only be able to withdraw a small amount of money per day. I don't know about any exchange that requires KYC to trade some specific coins, while allowing others to be traded by unverified accounts.

If KYC is a problem to you, try decentralized exchanges like Bisq.

AdolfinWolf

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Quote from: OpenCryptoSystem on December 27, 2020, 04:31:44 PM

So i get better coins ?
If i do kyc ? The stable coins like usdt and all ready coins with value ? So i can exchange them instant to fiat if i want ?

No, they're just artificially pegged to USD/EUR.

KYC is not at all related to being able to buy these coins. I'm pretty sure you can get them on Binance just fine.

Quote

So i can exchange them instant to fiat if i want ?

That might be possible on binance, but it's not an intrinsic property of this coin, obviously.

BTW I'm not sure how it is nowadays, but previously there was no proof at all that these stablecoins were actually 1:1 backed, so just keep that in mind when using them for long-term storage.

OpenCryptoSystem

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So i get better coins ?
If i do kyc ? The stable coins like usdt and all ready coins with value ? So i can exchange them instant to fiat if i want ?

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