Should We Avoid US Based Exchanges Now?

[loopes]

People use Crypto for anonymity. Why to use US based exchanges that ask for documents then? The new breed of exchanges will soon rule.

Yeah sure one of people intention to use cryptocurrency is being anonimous. but, trading/exchanges platform need to do KYC for risk management includes krakken dan coinbase (US Based Exchanges).
KYC process will help exchanges platform to mitigate the risk of being intentionally or intentionally exploited by scammers/criminal in order to do illegal financial activities. so its a prevent action to against criminal activities. But, it's commonly make pro and contra for it.

[OscarDavidson]

I think centralized exchanges are more reliable than other platforms. For me, it's one of the most important conditions. I don't avoid passing any KYC procedures because I am sure that my actions have to be transparent and legal and I want to know that other customers do it as well.

[MCobian]

All centralized exchanges must have KYC applied to my knowledge, so as long as you are still using the centralized exchanges,
you have to do KYC verification. It's all rules from the government, including local exchanges in all countries. So it's not only
US based exchanges that enforce KYC, but if you are not comfortable using Kraken and Coinbase it is your right not to use them.
My advice is that you should try decentralized exchanges if you want to avoid KYC procedures.

[Silberman]

In terms of centralized exchanges do you think it would be better to use ones not based in the US now?
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
Btw I'm not personally a US citizen and the KYC rules and regulation on transactions the US government doing seem like a huge hassle now, so would be good to avoid that.

While each person thinks differently I really think that we should begin to avoid US exchanges, the regulations are only going to get worse as time passes and you do not want to have your coins there and then be hit with a notice that you cannot withdraw your coins until you pass some new and more intrusive version of KYC you now have to comply, it is better to save yourself the headaches and use other exchanges, after all it is not like we do not have many more options that are on par or that are even better than what the US centralized exchanges offer.

[Hypnosis00]

If your country is not allowed to any US exchanges then it is for you to stop using them.
To the fact that they doing good to me, with a good market volume, there is no reason why we should stay away from them. And, in regards to KYC, that will depend on our discretion, even known and reputable exchanges asking this (even outside the US), and sooner this will be required to all registrants.

[imstillthebest]

People use Crypto for anonymity. Why to use US based exchanges that ask for documents then? The new breed of exchanges will soon rule.

Yeah sure one of people intention to use cryptocurrency is being anonimous. but, trading/exchanges platform need to do KYC for risk management includes krakken dan coinbase (US Based Exchanges).
KYC process will help exchanges platform to mitigate the risk of being intentionally or intentionally exploited by scammers/criminal in order to do illegal financial activities. so its a prevent action to against criminal activities. But, it's commonly make pro and contra for it.

good explanation . kyc dont look bad if we will explain it clearly and understabdable for the reader and to those that dont know if what is kyc and why it is needed  .

@WinBitcoinsCasino . what new breed of exchange . decentralized exchange dont need a kyc and they are not new . you are allowed to use it if you still dont like to use a centralized exchange because of kyc

[idrisalomagold]

We cannot deny the fact that the US is very particular about cryptocurrency and its decentralized nature. So, in order to at least control, they asked KYC on clients from known US-based crypto exchanges. Having said that they can identify the person belongs and doing on such transaction in the market makes traders on given exchanges become vulnerable on such regulations - which in fact very rigorous.
IMO, at least if we want total anonymity having less concern on such issues, I think we need not engage in US-based crypto exchanges. This is an opinion off-course, but if it is not our top priority; well just ignore it//

[kidbounty]

In terms of centralized exchanges do you think it would be better to use ones not based in the US now?
I'm thinking of avoiding Kraken and Coinbase completely now and just using ones not based in US such as Binance, Kucoin, Huobi.
Btw I'm not personally a US citizen and the KYC rules and regulation on transactions the US government doing seem like a huge hassle now, so would be good to avoid that.

for those who are not American citizens better to use another exchange. But for those who live and have an American passport, there is no option. they must follow the applicable regulations. as long as crypto trading has not been banned, I don't think the KYC issue is an important focus. after all the exchange there has a good level of security.

and the level of trading volume is also a consideration. US-based exchanges have a large volume. so users don't have to worry about this. If i'm an American, I prefer to stick with an exchange like Coinbase or Kraken. than using another exchange.

[thesmallgod]

I am just worried if you understand those other centralized exchange rules you are intending to shift into. I know binance also have a dedicated exchange for US traders awhile ago. If you can complete the KYC of kraken and coinbase as they have asked, I do not see any reason to consider some other centralized exchange unless you are considering decentralized exchange because all CEX has same features in common. You will need to complete KYC in order to increase daily withdrawal limit on most CEX. I am not sure, but I suppose using coinbase and Kraken must have given you some additional opportunity over other CEX. US government know that huge crypto traders resides in the country and I do not think they will do anything against the interest of their citizens 

[Silberman]

People use Crypto for anonymity. Why to use US based exchanges that ask for documents then? The new breed of exchanges will soon rule.

Yeah sure one of people intention to use cryptocurrency is being anonimous. but, trading/exchanges platform need to do KYC for risk management includes krakken dan coinbase (US Based Exchanges).
KYC process will help exchanges platform to mitigate the risk of being intentionally or intentionally exploited by scammers/criminal in order to do illegal financial activities. so its a prevent action to against criminal activities. But, it's commonly make pro and contra for it.

good explanation . kyc dont look bad if we will explain it clearly and understabdable for the reader and to those that dont know if what is kyc and why it is needed  .

@WinBitcoinsCasino . what new breed of exchange . decentralized exchange dont need a kyc and they are not new . you are allowed to use it if you still dont like to use a centralized exchange because of kyc

I think we all know the reasons behind KYC verifications, that does not mean we have to like them especially in a market that even now is composed mainly of people that care about their privacy and do not want to expose all their information for everyone to see, so as these kind of policies keep getting stronger and stronger this will lead people to begin to use decentralized exchanges, which I think I is a good thing as this will finally begin to reduce the power of centralized exchanges which are simply too powerful.

[ardentvolcanoes]

We cannot deny the fact that the US is very particular about cryptocurrency and its decentralized nature. So, in order to at least control, they asked KYC on clients from known US-based crypto exchanges. Having said that they can identify the person belongs and doing on such transaction in the market makes traders on given exchanges become vulnerable on such regulations - which in fact very rigorous.
IMO, at least if we want total anonymity having less concern on such issues, I think we need not engage in US-based crypto exchanges. This is an opinion off-course, but if it is not our top priority; well just ignore it//

They will do within their power to keep their eyes from every assets that their citizens have, US based exchange are very strict in compliance

with KYC, if you are not okay with that then avoiding exchange and use alternatives exchange should be done, there are DEX but you need to

understand all the risk.