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Author Topic: Why should I use Kucoin over Binance?  (Read 472 times)
examplens
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December 14, 2021, 07:03:09 PM
 #81

At-risk to be off-topic, A few days ago, I was showing some basics to my friend who is new to all of this. I am surprised when I realize that FTX is in the top 3 exchanges merged by trading volume.
they seem to be something in between Binance and Kucoin. With only 1st level of verification, it's possible to withdraw up to $2000USD daily, with some altcoins are not possible to trade without KYC level 2 (XRP for example).
can definitely be a third option with these two mentioned by OP.

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Silberman
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December 15, 2021, 09:27:40 PM
 #82

I didn't use Kucoin for trading but have some experience in the past and yes, it never requires KYC for the small withdrawal of less than 1BTC but for bigger amounts, they are strictly asking for it especially for a newly created account. But what I guess, this mandatory KYC will soon to apply for all exchanges and I'm still going to believe that the use of exchanges is safe compared to P2P transactions.
We know that eventually this is something that is going to happen to all exchanges, the whole point of decentralization is to not give to the governments and banks any focal point to attack, and that is what centralized exchanges really are, so I am not surprised that governments all over the world are trying to force exchanges to apply KYC policies to all their clients, which means that those that are serious about maintaining their privacy will have no choice but to begin to use DEXs on the near future.
carlfebz2
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December 15, 2021, 10:38:36 PM
 #83

I didn't use Kucoin for trading but have some experience in the past and yes, it never requires KYC for the small withdrawal of less than 1BTC but for bigger amounts, they are strictly asking for it especially for a newly created account. But what I guess, this mandatory KYC will soon to apply for all exchanges and I'm still going to believe that the use of exchanges is safe compared to P2P transactions.
We know that eventually this is something that is going to happen to all exchanges, the whole point of decentralization is to not give to the governments and banks any focal point to attack, and that is what centralized exchanges really are, so I am not surprised that governments all over the world are trying to force exchanges to apply KYC policies to all their clients, which means that those that are serious about maintaining their privacy will have no choice but to begin to use DEXs on the near future.
DEX is something we do need but we know that we are dealing with fiat when making out conversions thats why we do end up on using CEX.

Its unavoidable kind of situation and we are really heading there and we've seen on what happened to Binance.It becomes big and it did really

make out some noise and now government sets in then regulation comes in which terms and conditions been changed.Nothing surprising on here.

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