Not your key not your wallet

[BIT-BENDER]

There are two red flags here for me, firstly you left your funds on an exchange that's a big red flag and then you are using a centralized exchange that requires you to set up KYC process with is definitely going to be a process of you giving out sensitive information to them.

Well it's a personal decision, if you are okay giving out those information you can go ahead and give it to them also you can consider the amount you have on the exchange and then be able to make up your mind about leaving it or going ahead with the kyc requirements.

[_BlackStar]

There are two red flags here for me, firstly you left your funds on an exchange that's a big red flag and then you are using a centralized exchange that requires you to set up KYC process with is definitely going to be a process of you giving out sensitive information to them.

Well it's a personal decision, if you are okay giving out those information you can go ahead and give it to them also you can consider the amount you have on the exchange and then be able to make up your mind about leaving it or going ahead with the kyc requirements.

This thread is just a warning to different users - certainly this is a case that could change the mind set of many exchange centralized users to withdraw their funds from the exchange to their non-custodial wallet.

The OP has stated that he wouldn't be completing KYC just to withdraw his funds from the exchange - that's because it's not worth that much. But for what the OP has experienced with his Coinbase account this is great for all beginners - so they just need to be sure that a non-custodial wallet is a good wallet to store their assets in long term.

[Jon_Hodl]

Yet another reason to completely avoid using centralized exchanges. Just a few days ago, Kracken was subpoenaed by the IRS to surrender all information about their users who purchased $20,000 worth of bitcoin in any given year within a certain timeframe and this trend will absolutely continue.

The only way we can really combat this is to use non-KYC platforms, use open-source wallets, and run your own node.

Stay sovereign out there, plebs.

[hosseinimr93]

The only way we can really combat this is to use non-KYC platforms, use open-source wallets, and run your own node.

To have full control over your fund, you need to use a trustworthy open source non-custodial wallet, but you don't have to run your own full node.
With running a full node, you can help the network be more decentralized, validate transactions and protect your privacy, but that's not required if your only concern is having full control over your fund.

[Not your key not your BTC]

I often said in my username and Pizza