non-KYC mandatory
No mandatory or relaxed KYC is one of the top reasons along with high liquidity and no freezing or downtimes during flash market pumps or dumps especially for us who like trading derivatives, but the list of such good exchanges is shrinking so fast. I used to like Kucoin, Bitmex, Binance, Bybit, Okx back them, but now the perspective has changed mostly because of KYC. As for FTX, I think we all know what happened. That’s true actually even Binance has been shrinking couple with their issues with SEC, have you tried out some other exchanges lately, I see you haven’t use Bitget too? |
|
|
|
What are the things you consider personally before achieving adopting an exchange, there are lots of reasons like the features, non-KYC mandatory, easy user interface, proof of reserve fund, user asset protection and the likes what are your own reasons amidst all and which exchange did you use.
- You don't have many choices when it comes to centralized if you have no KYC as your top priority, well here are some Current list of exchanges without KYC.
- I would like to ensure my spot trades will go smooth not stuck for hours which can be obtained only if the exchange has high liquidity.
- Easy UI.
- Customer support response.
- No unresolved scam accusations
Nice points, can I know the exchange you use? |
|
|
|
What are the things you consider personally before achieving adopting an exchange, there are lots of reasons like the features, non-KYC mandatory, easy user interface, proof of reserve fund, user asset protection and the likes what are your own reasons amidst all and which exchange did you use.
Do you think you list many criteria to choose an exchange to use? I know risks of centralized exchanges but I must honest that I use centralized exchanges and what I care most is trading volume and their reputation. If they have good reputation, I will accept mandatory KYC to use their exchange but I don't store all my capital on any exchange because of risk. If you don't use DEXs and look for non KYC centralized exchanges, you can use small CEXs with low trading volume and they can be a scam exchange. If a big centralized exchange like FTX can scam, any other centralized exchange can be scam one too. You’ve made a good point here. Though let me correct the impression I never said all the things I listed are the only things to consider when you’re choosing a CEX. After the issue of FTX there are certain things the public expected from most CEX in order to clear the FUD that is already hitting the crypto space, revealing their proof of reserve and showing evidence that they hold user asset 100% just like the Mekle tree proof by Bitget. Binance and Bitget revealed their proof of reserve and that was able to calm the crypto space for a while. To me I feel most users should have their research carried out before adopting a CEX and also look out for genuine recommendations. |
|
|
|
Well aside the financial freedom I’ll enjoy, another strategic area I’ll talk about is Privacy and Security that got me attracted to cryptocurrency was the heightened levels of privacy and security it offers. The thing here is Unlike traditional financial systems, where personal information is required for every transaction, cryptocurrency allows for more anonymous transactions. By employing blockchain technology, cryptocurrencies ensure that transactions are secure, transparent, and immutable. This element of privacy resonates greatly with me and gives me peace of mind that my financial transactions will not be exploited or tracked.
With the ongoing issue within the crypto space, specifically with the issues of FTX that happens did you think there is absolute security of asset in cryptocurrency? Also did you think there are some other CEX that can still offers the protection of asset and the privacy you talked about, i heard some exchanges are not KYC mandatory too |
|
|
|
|
What are the things you consider personally before achieving adopting an exchange, there are lots of reasons like the features, non-KYC mandatory, easy user interface, proof of reserve fund, user asset protection and the likes what are your own reasons amidst all and which exchange did you use.
|
|
|
|
|
Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?
|
|
|
|
|
Yea, definitely exchanges do affect the performance of newly listed token. Basically there are some exchanges that impacts greatly on tokens upon listing base on the initial reputation of the exchange, for example an exchange like Bitget with such reputation and good pattern of listing tokens, if any token is being listed on Bitget it will help to boost the rate at which users will buy into the token just because of the confidence and trust users already have in Bitget trusting the exchange to only list good token with utilities that will enhance profitability.
|
|
|
|
Hey, crypto fans! I've been hanging out on this forum for a while now and I have to say, I'm blown away by the depth of knowledge most people here have about crypto and blockchain. It's got me wondering, are there any crypto experts in the house who works in the blockchain/crypto sector? If you're working in the industry, I'm curious to hear about your role, how long you've been in the game, and your career goals. Are you employed by a company or you work as a freelance? No need to share personal info, just give us the scoop! By the way, I'm a fashion lover with no in-depth experience in crypto, but I'm here to soak up some knowledge and share the little I have. Also, this is borne out of sheer curiosity.
I work as a crypto analyst, researching and predicting market trends for various digital assets. That's a unique and exciting role! I wonder if you work in an exchange like Bitget or Bybit. |
|
|
|
|
I think the UK government strengthened the rules because of the FTX incident; this is a lesson learned. We should select some secure exchanges like Coinbase and Bitget.
|
|
|
|
|
Despite the fact that I don't stick to one exchange when it comes to trading I think Bitget non KYC policy is cool considering their rich security history and usually i’m not comfortable with exchanges with bogus non KYC benefits while they have records of security exploitation.
|
|
|
|
|
This is to inform all Indians and Pakistanis within the crypto space that this is an opportunity to make up to $10,000 & also win an Air conditioner just by Spinning the Luck wheel. Register on Bitget today and join the event to spin Wheel to be among the winner.
|
|
|
|
I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic? Knowledge in trading will not be the reason to be able to make money but will cut down some common mistakes that can force you to lose money. Rest of the money making is your own luck, predictions and patience. Newbies in speculative trading will be assumed (and proven) to be lacking this mindset and thus the above notion. Every trader was once a newbie. So I dont think this statement should discourage new investors, because that is a personal choice of rubbing someone's statements on their own skin. If a newbie start dummy trading and is keen to learn, they can profit in a few months, but they should have patience and be able to endure long bear markets. Quite true. But I believe that there are ways newbies can benefit from crypto without having the skill to trade and make technical analysis. Matter of fact, some exchanges have recently made it easy for newbies in the space to earn without knowing how to trade. I don't know if you've ever come across the Bitget flexible savings where users can actually earn daily interest on their assets. This is one of those ways. Learning to trade is essential but believe me, it is no walk in the park and it makes new users shy away from joining the crypto space. Flexible savings? Not sure have ever heard of that in crypto and how does that benefit new users who doesn’t even have the knowledge of the volatile market. For newbies, flexible savings is safe especially in the volatile market. you can read up more about it here. https://www.bitget.com/academy/Maximize-Your-Crypto-Earnings-A-Beginners-Guide-to-Bitget-Flexible-SavingsWow, have gone through the link, seriously I never knew anything of such exist, does that mean the savings will last for a year before I can collect it or I can collect it at anytime? |
|
|
|
I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic? Knowledge in trading will not be the reason to be able to make money but will cut down some common mistakes that can force you to lose money. Rest of the money making is your own luck, predictions and patience. Newbies in speculative trading will be assumed (and proven) to be lacking this mindset and thus the above notion. Every trader was once a newbie. So I dont think this statement should discourage new investors, because that is a personal choice of rubbing someone's statements on their own skin. If a newbie start dummy trading and is keen to learn, they can profit in a few months, but they should have patience and be able to endure long bear markets. Quite true. But I believe that there are ways newbies can benefit from crypto without having the skill to trade and make technical analysis. Matter of fact, some exchanges have recently made it easy for newbies in the space to earn without knowing how to trade. I don't know if you've ever come across the Bitget flexible savings where users can actually earn daily interest on their assets. This is one of those ways. Learning to trade is essential but believe me, it is no walk in the park and it makes new users shy away from joining the crypto space. Flexible savings? Not sure have ever heard of that in crypto and how does that benefit new users who doesn’t even have the knowledge of the volatile market. |
|
|
|
In my opinion, what gives BTC it's value and utility within this context isn't necessarily the level of decentralization itself but rather the features that it's decentralization brings about. I find centralization and decentralization to be a on a spectrum, with each end providing its own set of values and utility. On one hand the BTC token distribution among users is verifiably the most widespread & decentralized among all cryptos with no small group of users holding the majority of tokens like other chains, while on the other hand some might consider the concentration of mining pools to be centralized (i don't believe so). Either way, what really matters is the features brought upon by its level of decentralization-BTC's being the most immutable and most liquid but on the other hand not necessarily the fastest. Even as you slide down the spectrum towards greater centralization with other networks like ETH, Cosmos or even others like ICP with less than 150 actual physical nodes, people are still able to find value and different utilities in it through features like speed and usability (low fees) even with it being more centralized. This even goes for services and dapps where DEXs and such might offer great customizability and freedom for power users but on the other hand centralized incumbents have the edge when it comes to usability, variety, UI and stuff like that. So overall I wouldn't judge BTC based on how decentralized it is, I think it's essential to focus on why people buy their bitcoin and what utility/value it provides for them, not if its decentralized or not, the utility and value differs for everyone. Like I said some people might call the token distribution decentralized while at the same time calling the mining pool concentration centralized, though at the end of the day it is the most immutable/secure/hardest to attack and that's what gives value to it for me.
A very good point you’ve made here, It isnt really the decentralization itself that makes it useful but really what utilities it can provide, with services. The decentralization itself has either made its operation easily accessible and more expensive to acquire. Though different actions for different context, i personally feel the decentralization of BTC is one of the major reason why it is advisable to buy it more on centralized exchanges in order to have a reasonable amount of asset guarantee, tokens of such can be manipulated and sold as fake on DEXs. At the same time CEX will offer a considerable amount of fee when carrying out transactions on such token in compare to when carrying out transactions on DEX. Since Bitcoin is decentralized it’s beneficial to lower barriers to its entry through CEX as it will even improve ones understanding of the use of such tokens, it’s wide range importance, it can equally be trade on features even without having much understanding of trading just as Bitget introduced into crypto their copy trading feature. |
|
|
|
|
No body has ever talk down or criticize the fact that Bitcoin is being decentralized, in one way or the other it has brought a lot of productivity to the token, having Bitcoin operating on its own as a decentralized token is one of the reason why the use of centralized exchanges are necessary.
There is a need for partial regulation and asset security of which can be best done on CEX.
|
|
|
|
|
Show Posts
