Buy or sell coin and kyc

[Review Master]

Now many reputable sites also giving this service to users as they able to buy and sell bitcoins and altcoins for credit card without any hassle and KYC mean Binance and HitBtc both offering this service and CEX is not good and please think before doing any business with this scam exchange.

Sorry, But i also don't recommend cex exchange either. In  that reply, i write CEX for Centralized Exchange as well as we use DEX for Decentralized Exchange. That's it. Also in my opinion, HitBtc is a shady one because of their transections problems. So many users already faced it. BTW, it's just my opinion.  

[Towerbreeze]

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

Buying coins with credit card is not the only way, some exchanges or crypto platform accepts direct Fiat deposit e.g binance exchange, KYC shouldn't be an issue if you have a clear mind, it's all for the sake of crypto world, some criminals are embezzling money with coins that's why KYC is important


Make sure you invest in popular coins only, we have too many scam projects in crypto world today, they are jaguars waiting for their preys, the top and best coins are Bitcoin and Ethereum, just do your own research, you can use coinmarketcap.com

[o_e_l_e_o]

some exchanges or crypto platform accepts direct Fiat deposit e.g binance exchange, KYC shouldn't be an issue if you have a clear mind, it's all for the sake of crypto world, some criminals are embezzling money with coins that's why KYC is important

If you want to use fiat on Binance via any method, be it credit card, bank transfer, direct deposit, etc., you will need to complete KYC. They might let you deposit first but then lock your account and freeze your money until after you perform KYC though.

Saying KYC isn't an issue if you aren't doing anything wrong is complete nonsense. This is just the "nothing to fear, nothing to hide" argument dressed up in a new skin. I am not doing anything illegal with bitcoin, but that doesn't mean I want a variety of complete strangers the world over being able to stick their noses in to my financial transactions whenever they like. I assume you aren't doing anything illegal online, but you don't share the passwords to your email addresses and social media accounts on here. The principle is exactly the same.

the top and best coins are Bitcoin and Ethereum, just do your own research, you can use coinmarketcap.com

Being a "top coin" on coinmarketcap means nothing as market cap is a meaningless statistic. Several of the top 10 coins are outright scams. You're safer just sticking to bitcoin.

[LbtalkL]

Try to visit https://paxful.com/ they have so much option to choose from and which payment you're most comfortable I guess they have 330 options of payment method. They have bank transfers, western union, alipay, different gift cards and many more. Yes, Crypto is anonymous but some of the platform is doing KYC due to some regulation if they don't comply they will suffer some consequences or penalties. Also, to avoid fraud, only platform is doing those KYC the crypto or blockchain itself is not requiring those KYC and still anonymous. The problem is what if those platforms got hacked? So I respect you for not being comfortable with KYC our data if very important.

[jademaxsuy]

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

It is not necessary to do all of that which is called KYC. It depends on the platfork you have used. Some will ask your personal documents like ID and more to confirm that it is you. Some site implement KYC for some reasons to make people not doing illegal activities like money laundering for example or else they will face some issues, problems or consequences.

[Subbir]

You are right that by doing KYC they are doing not take our personal information and drive us illegally for concealment That's why you ought to stand back from buying and selling coins with KYC. These sites are never good. This KYC creates new scams Good and reliable sites never invite KYC. These are often verified by mail So don't invest in these sites and be wary of those platforms.

[joniboini]

Almost any centralized platform will ask for KYC. Not to mention they take some fees and sometimes it's more than 1%.

If anyone doesn't want to do it then P2P trading is their option. Trading between trusted users on this forum is a great alternative, not to mention you can ask for KYC if you don't trust them.

[aioc]

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

This is just one of the options there are many options to buy Crypto where you will still become anonymous, but why not go for what it is intended for like peer to peer if you are going to hodl for a long term, there are people, trusted people whom you can trade in the service section some of them are offering escrow for the safety of both parties.

[Shimmiry]

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

To sum up the answers, the KYC's idea is simple. It is just to have a valid document that a platform's user is not cheating with their system by having multiple accounts, and also to validate that he is indeed a real person. Some uses kyc to atleast have a legal proof if ever something goes wrong such as a client stole certain coins. For short, it is just an assurance of the reliability of the person, a simple handshake of trust. Yet, one must also be careful on whom and where to give his identity.

[Review Master]

Almost any centralized platform will ask for KYC. Not to mention they take some fees and sometimes it's more than 1%.

It'll happen when someone wants to transfer any large amount of crypto or fiat currency. But there are high rated centralized platform which offer to transfer 1-2 btc daily without any kyc. Also there are so many exchanges/platforms which take a unfair fees. That's really unacceptable. 

If anyone doesn't want to do it then P2P trading is their option. Trading between trusted users on this forum is a great alternative, not to mention you can ask for KYC if you don't trust them.

yeah, there are so many escrow services by the highly reputated forum users. So it won't need to ask for kyc to make a deal with them. But if someone not in the list, than anyone should verify the user's reputation or if the user is trustworthy or not.

[AakZaki]

Hi all, I'm new to crypto as recently I have free time on the internet and see an ads about it. Google brings me here, and medium, some crypto websites too. I want to own some coin and try to invest. The only way to buy crypto is credit card. I'm confused that why I must provide my identity, passport number and image of it, and photo of my face. I read and know that crypto is anonymous, why I must kyc to buy coin?

KYC is not required when buying and selling crypto coins. There are many ways you can do besides having to do KYC.
Buying and selling altcoin can be done on decentralized Exchange such as Etherdelta, Forkdelta etc.

But when you want more specific and more complete features for trading needs, Binance is an option, but you have to use KYC. I think Binance is safe to do KYC. But it depends on you.

KYC which is prohibited is on the Exchange which does not have credibility and high quality, because it will be very prone to be misused.