Kanneroliver
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Activity: 1
Merit: 0
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February 26, 2021, 09:25:54 AM |
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Hi guys,
would like to hear some advices:
I am a customer of one crypto exchange (since 2017 and verified), a week ago after transfering some coins to my wallet got AML5. Now I need to send " explainaition" about all coins/transfers.
I do not understand how to send it: I was in-active since 2019. Last months I started to transfer some coins from other my wallets (also was in-active since 2018-2019). So after I got this email, I checked all my transactions and the conclusion is next: all wallets were in-active since 2018-2019 (I just stored coins on these wallets). Transactions to these wallets are from other wallets (I even do not remember which exchanges/partners or something else). I mean noone and never asked me to "show" anything. I checked also my emails, found that I bought some coins also in 2017 (but also it is just may be 10% from some transactions).
What doyou think what is "enougth" to show?
Currently the maximum what I can show:
("locked wallet") < got money from < my 1st wallet
also < got money from < my 2nd wallet
Also I can show all transactions for these 1st and 2nd wallet (when I got money and it shows that money transfered in 2019), however from "where these money come" > I can not show, because I do not have anything (2-3 years ago).
In my opinion if wallets were "verified" and they stored money for 3 years, it could not be "money laundering" (also + these transactions=coins belong to you), however I do not understand new "laws".
I understand that they want to see: FIAT > buy > got Coins > transfer > "locked wallet". But in my case it is already "impossible".
Also in 2019/2018 I did a lot of chaotic transfers, like: on this wallet I will store only BTC, there ETH... then a few days later, let's change "wallets" and now here I will store that, and there something else: it means if I could open/find my transactions, so it could take 100-200 pages of explaination of each transaction, because I sent them from one to another wallet a lot of times (also because of security fear).
About in-active wallets: I still have some wallets with BCH "before the FORK!" it means I still did not open them and not yet got my BSV... this is how in-active were my wallets.
Currently I just can not send them "something" and see what happens, I want do it once and 100% sure.
So what do you think I should show and explain? Would it be enougth to show all my assets from other wallets (from 2019) or I have to show the "first" initial transfer from the "first" initial wallet, where I bought the coin or got it from someone?
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willoweb7
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March 24, 2021, 03:24:35 PM |
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I wonder if some governments do DDOS attacks on exchanges that doesn't have verification. I wonder, if they're so obsessed about anti-money laundering?
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Flexystar
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February 22, 2022, 07:55:54 AM |
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I don’t think it’s bad idea to perform the KYC on trusted sites and apps. It’s the way it is if you want added security. I’m not sure why people are afraid to do KYC on legit sites at all? The KYC is there because that’s part of real world regulation and it could best life saver if anything goes wrong let’s say someone hacked account, stole any money etc. You can complaint to the authorities with all your information and have your assets back. Otherwise its very hard to recognise the accounts with only usernames and email ID. Consider it extra layer of security for the future.
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riskyron
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March 31, 2022, 02:01:32 PM |
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I don't feel comfortable providing my personal data to some online services. At the same time, DeFi doesn't offer a good solution for cases a user gets hacked. Looks like there's nothing in between...
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Smartprofit
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Merit: 1768
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June 06, 2022, 01:57:20 PM |
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I don’t think it’s bad idea to perform the KYC on trusted sites and apps. It’s the way it is if you want added security. I’m not sure why people are afraid to do KYC on legit sites at all? The KYC is there because that’s part of real world regulation and it could best life saver if anything goes wrong let’s say someone hacked account, stole any money etc. You can complaint to the authorities with all your information and have your assets back. Otherwise its very hard to recognise the accounts with only usernames and email ID. Consider it extra layer of security for the future.
Cryptocurrencies were originally created by people who valued their anonymity and privacy. Bitcoin is a quasi-anonymous cryptocurrency. However, when Satoshi Nakamoto first created the first cryptocurrency, its level of anonymity and privacy was quite acceptable for its time. By going through KYC and AML procedures on centralized cryptocurrency exchanges, you deanonymize not only yourself, but also your counterparties. In my opinion, this reduces the overall value of the Bitcoin network. |
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j24
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November 21, 2022, 04:31:52 PM |
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Anyone know whether Bitfinex uses AML and if so, under which agency or jurisdiction?
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Bitcoin_Arena
Copper Member
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Activity: 2016
Merit: 1786
฿itcoin for all, All for ฿itcoin.
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November 21, 2022, 11:12:39 PM |
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Anyone know whether Bitfinex uses AML and if so, under which agency or jurisdiction?
Sure, if you look through their terms and policies, yes to perform KYC verification and have an AML policy in place. Under their privacy policyfor AML, they use a company called AU10TIX Ltd ( https://www.au10tix.com/privacy-notice) that they claim is located in Isreal but as per the website of the company, they say their postal address in Cyprus Full name of legal entity: Au10tix Ltd. Email address: DPO@Au10tix.comPostal address: 32 Spyrou Kyprianou Ave., 2nd Floor, CY-1075 Nicosia, Cyprus At this point, I am not sure who's correct and who's wrong. |
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BitcoinForLiffe
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April 01, 2023, 10:57:26 PM |
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What should I do if an exchange rejects my KYC without explanation (I'm a real person)
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Gladitorcomeback
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June 10, 2023, 03:04:11 PM Merited by fillippone (1) |
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What should I do if an exchange rejects my KYC without explanation (I'm a real person)
If you explain little more then it will be easy for us to answer you accurately. by the way if you KYC application rejected then you can see the rejection note on kyc place or you will receive email with rejection note. Most probably reason may be light problem, wear sun glasses or camera problem. Now you have to contact customer support for this problem and online chat admin will guide you for fast KYC approve tip . Send him KYC image to check for any problem. my friends kyc was rejected in Bybit and then he contacted customer support and they fixed it in 5 minutes. |
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ookachucka
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November 10, 2023, 05:38:40 PM |
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QUESTION 1: What country should I put my location to that pretty much all non-KYC (and even KYC) exchanges will allow? Folks on another forum said Gibraltar or Cayman, my VPN doesn't have those as options.  Would Spain or Singapore be good countries to use that most exchanges allow? TMI: [I need to get onto non-KYC exchanges & think using a VPN should be used cuz even non-KYC exchanges often insist you are not from certain countries. I don't have dedicated isp, or however you phrase it, but have a regular vpn (a good encrypted one), and am hoping that will be good enough even if the exchange(s) detect vpn usage.]
QUESTION 2:[/b] I'm looking for exchanges that are legit, have decent liquidity, and don't require KYC. I've been told okx, bybit & primexbt are good. Any others?TMI: [I haven't ventured to dexes yet. Got kicked off binance, now kicked out of kucoin, so I'm tired of kyc b.s. cuz I wanna trade smaller coins & do margin. Is that so wrong? Argh!]
If anyone answers, I'd appreciate a link to your source if it's from a well known, reputable site. Only if it's not too much trouble...if you don't have link, I still appreciate answers, as that will give me something to research further. [I've spent hours trying to figure this out but get inundated w/info overload--know what I mean?] Thx in advance! Mwah! 
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bayu7adi
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November 17, 2023, 02:53:53 AM Merited by fillippone (1) |
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QUESTION 1: What country should I put my location to that pretty much all non-KYC (and even KYC) exchanges will allow? Folks on another forum said Gibraltar or Cayman, my VPN doesn't have those as options. Would Spain or Singapore be good countries to use that most exchanges allow? I often use Singapore as my favorite VPN location to access cryptocurrency exchanges. I haven't encountered any issues.
QUESTION 2:[/b] I'm looking for exchanges that are legit, have decent liquidity, and don't require KYC.
I've been told okx, bybit & primexbt are good. Any others?
Go here : https://kycnot.me/?type=exchange I think Bisq is suitable for you because it's a comprehensive service and also without KYC. Ann thread for Bisq : https://bitcointalk.org/index.php?topic=5230289.0Or if you're still unsure about my recommendation, you can visit the link I provided above and choose another one. |
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RalphFunk
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January 23, 2024, 09:31:58 AM |
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KYC (Know Your Customer) is due diligence by financial institutions to understand clients. AML (Anti-Money Laundering) combats illegal income generation. Both involve local regulations. Bitcoin exchanges adopt KYC and AML policies for compliance.
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Kingperry22
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March 06, 2024, 12:40:43 PM |
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the balance between regulatory compliance and user privacy is without a doubt exposing capital flight(money laundering) excessive and robust solutions should ensure security without compromising the essence of decentralized finance.
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Docent85
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March 24, 2024, 03:56:17 PM |
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Anyone who wants to remain anonymous in cryptocurrency and trading or just exchange, I advise you to use the 50.com exchange, which I have been using for more than 5 years, and everything is reliable and safe
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deejay
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April 15, 2024, 07:05:51 AM |
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Anyone who wants to remain anonymous in cryptocurrency and trading or just exchange, I advise you to use the 50.com exchange, which I have been using for more than 5 years, and everything is reliable and safe
that's not even online |
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freigeist
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April 17, 2024, 03:45:52 PM |
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Anyone who wants to remain anonymous in cryptocurrency and trading or just exchange, I advise you to use the 50.com exchange, which I have been using for more than 5 years, and everything is reliable and safe
that's not even online Maybe he was thinking about 50x.com ? |
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deejay
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April 17, 2024, 05:13:22 PM |
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Anyone who wants to remain anonymous in cryptocurrency and trading or just exchange, I advise you to use the 50.com exchange, which I have been using for more than 5 years, and everything is reliable and safe
that's not even online Maybe he was thinking about 50x.com ? good catch |
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Thunda
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April 17, 2024, 05:18:19 PM |
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Is there a danger in KYC, in terms of the company you KYC with getting their data stolen? I do not mind KYC, but am concerned about the company having personal data and wallet addresses, or am I over thinking this?
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Potato Chips
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April 19, 2024, 11:51:32 PM |
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Is there a danger in KYC, in terms of the company you KYC with getting their data stolen? I do not mind KYC, but am concerned about the company having personal data and wallet addresses, or am I over thinking this?
This happens and is a pretty normal thing to worry about. Services like exchanges could also use third party services to process your information so it's safe to say there could be more entities involved. I suggest at least looking into kycnot.me for exchanges with lax kyc to no-kyc policies. But depending on your planned use cases, you may need to succumb to identity verification for it. IDK what are your planned use-cases but my advise is to weigh things down -- decide for pros you absolutely need and cons that are bearable for you. |
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