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1  Economy / Exchanges / Any new exchanges that are not enforcing heavy KYC? on: March 18, 2021, 07:14:31 PM
I think this whole KYC requirement has gone batshit crazy over last couple of years. When I bought some cryptos in 2015-2016 or so, pretty much the biggest requirement was ID and sometimes address verification.  Now they treat you like a clown who has to take picture of ID, prove your address and then selfie with the ID on your hand at minimum. Some even require you to(along with everything else mentioned before) take a video of yourself and say certain changing numbers and the name of the exchange. There are much more user friendly and secure options available to verify accounts, such as using bank verification where your account is automatically verified with your bank account username and one time login code(verification is done by bank and not the exchange so your bank details are not shown to them) In this way you don't risk being a victim of identity theft because the exchange got hacked. Exchanges just use heavy KYC as a pathetic excuse to delay withdrawals and disable your account if they just decide you have be their monkey today and eat shit while filming it all to fulfil their KYC requirements.
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