I have been wondering of people telling me exchanges can freeze accounts, that makes me very afraid to use exchanges to trade, a friend of mine told me hitbtc freezed his account. That makes me here to ask the reason why exchanges can freeze account.
Why are exchanges freezing accounts?
What can I do to make them not freeze my account?
What are the best exchanges to use?
I like no kyc exchanges, please do not advice me to use any kyc exchange. I prefer exchanges that do not demand for kyc or the ones that makes kyc not mandatory?
When you create an account, you agree to the terms and condition of the exchange. As long as you don't breach any terms, your account won't be frozen. The terms and conditions explains every act that might cause you to lose access to your account.
Besides the terms and condition of their own website, they have to comply with the AML. So if they see any huge transaction, they usually have to report it to the higher authority and may temporarily freeze the account.