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Most of the exchanges want more customers. KYC scares many of them away and conversion rates fall.
I believe that it's unethical not to explicitly mention that KYC is required to withdraw, however, in my opinion, the problem does not lie in the exchange. The problem is that currently most of the KYC providers do not have a user-friendly widget that would make KYC seamless. Exchanges understand that with adding KYC, they have a chance of losing a customer. But they want to be compliant as well so they include a KYC at the withdrawal. Some KYC providers are working hard to ease this problem but what does it take to eliminate the discomfort completely?
Anyway, I think every person, who has been in trading for a while is used to KYC and expects it to appear at some point or am I wrong?
I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!
Why they allow them to deposit before Complete KYC
They say we follow the law Does the law recommend doing so? Something weird!
Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!
what I think from like this exchanges They want Attract Volume Without regard to the interest of users
I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !
Exchanges are always interested in a large number of customers. Therefore, their policies are aimed at attracting them as much as possible. But in the withdrawal of funds from the exchange of its administration is not interested. Therefore, it may deliberately search for reasons for making it harder to withdraw a cryptocurrency from the exchange. In addition, if clients fail to pass the KYC check or for other reasons leave the cryptocurrency on the stock exchange, after some time the administration of the stock exchanges will be able to appropriate them.But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!
Why they allow them to deposit before Complete KYC
They say we follow the law Does the law recommend doing so? Something weird!
Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!
what I think from like this exchanges They want Attract Volume Without regard to the interest of users
I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !
