A KYC question

[Darker45]

~snip~

If you're a bounty hunter, there's always a chance that the token you've promoted will be traded in an unknown exchange while waiting for their volume to grow and platform to launch to get them listed in a much better exchange, you have two options, signup to that exchange or wait for a better exchange, once you are in a centralized exchange, the exchange can at anytime ask for KYC and worst is doing KYC in an unknown exchange that you don't know if the reputation is good, I have been into this scenario many times when I was still active in bounty active.

I’ve been in OP’s shoes before. I’ve also made accounts in unknown exchanges simply because I didn’t have much choice. While there seems to be a choice of waiting for a better exchange, the possibility is always there that the token would lose value rather than become popular and be admitted in top exchanges. So there’s no point waiting for that better exchange when the next thing to happen is probably the demise of that token.

Most of the time, it’s not that the token is listed on unknown exchanges while waiting for their volume to grow and platform to launch. The truth is that their project is not that big or successful. The truth is that the project can only afford cheap exchanges because they don’t have the resources. It’s obvious that the token is more likely to fail if right from the start it could only afford a questionable exchange. Most successful tokens have the likes of Binance or Huobi or KuCoin as their first exchange.

[Strongkored]

anyways I've submitted my KYC verification details but it's taking forever to process the verification, it's showing under process till now

It's been more than half a month since your last reply that had registered and submitted KYC but it was not yet clear whether you could finally make a transaction on coinsbit and also make a withdrawal. Op should also be able to update on it and lock this thread.

[smartaction]

I have a question about coinsbit exchange, can I withdraw without passing it's KYC verification? Is there anyone using this exchange presently I just want to know before making deposit on the exchange

In my own experience i know it is not possible to Withdraw crypto from coinsbit without passing KYC. and personally i Don't like that exchanger. It gave me a very dry experience. search another exchanger. you can use Kucoin it will work depositing and withdrawal without passing KYC. and it is must trusted exchange

[Drnice]

I have a question about coinsbit exchange, can I withdraw without passing it's KYC verification? Is there anyone using this exchange presently I just want to know before making deposit on the exchange

To some extent, I am sure you're a Bounty Hunter. Things like these are things hunters always experience in the system. Most projects will go on listing their coins in some centralized exchange which their reputation is unknown or low, and you imagine giving out your information to an unknown or low reputation company. Most times these happens because the price of this project made some profits and for you not to be left out, you get hooked in this situation, I've had similar experience on different occasions.
Well, coinsbit as a centralized exchange which you cannot do anything to be sure without passing the KYC process. If one can deposit, trade and do all process in an exchange and cannot withdraw funds, then no need of using the exchange without being ready of passing the KYC process.