Netnox
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March 27, 2019, 03:42:07 PM |
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Very valid point. I have already submitted the scanned copy of my passport to at least a dozen crypto-exchanges and this is something that I am not very comfortable with. I think I may have to depend on the decentralized exchanges to trade by tokens.
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o_e_l_e_o
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March 27, 2019, 06:28:29 PM |
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Very valid point. I have already submitted the scanned copy of my passport to at least a dozen crypto-exchanges and this is something that I am not very comfortable with. I think I may have to depend on the decentralized exchanges to trade by tokens. A dozen?! Wow. Why do you even need an account on a dozen different exchanges, let alone need to go through KYC on all of them? You are trusting an awful lot of strangers and and awful lot of unknown security systems to keep your personal details safe. That seems ridiculous to me. If I were you, I would start by closing as many of those accounts as possible, and making it clear to the exchanges in question you wish for them to delete your details and copies of your documents. There is absolutely no guarantee they will, but I would at least try. |
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adzino
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www.Crypto.Games: Multiple coins, multiple games
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March 27, 2019, 06:40:32 PM |
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Well, if the exchange that is asking for KYC form fill up is well known, then there is a high chance your identity is safe. But you never know. Exchanges never fail to disappoint. They may be look all good from the front, but might be doing devious activity behind your back. Again, there is a chance they might get hacked like you said, and your identity documentation might get stolen.
If its not extreme necessity, then try to avoid those exchanges that look for KYC. Or just do face to face transactions.
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ranman09
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March 27, 2019, 07:33:26 PM |
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Very valid point. I have already submitted the scanned copy of my passport to at least a dozen crypto-exchanges and this is something that I am not very comfortable with. I think I may have to depend on the decentralized exchanges to trade by tokens. A dozen?! Wow. Why do you even need an account on a dozen different exchanges, let alone need to go through KYC on all of them? You are trusting an awful lot of strangers and and awful lot of unknown security systems to keep your personal details safe. That seems ridiculous to me. If I were you, I would start by closing as many of those accounts as possible, and making it clear to the exchanges in question you wish for them to delete your details and copies of your documents. There is absolutely no guarantee they will, but I would at least try. If the exchanges are not to be trusted I think it will be hard for us to think that they actually deleted the documents. But I agree a dozen exchanges is ridiculous, given that you handed all of them your privacy. This seems to be a permanent problem for you if those exchanges are fraudulent. I think OTC selling and buying is the way to go but escrow services are too expensive. |
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Netnox
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March 29, 2019, 10:52:42 AM |
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Very valid point. I have already submitted the scanned copy of my passport to at least a dozen crypto-exchanges and this is something that I am not very comfortable with. I think I may have to depend on the decentralized exchanges to trade by tokens. A dozen?! Wow. Why do you even need an account on a dozen different exchanges, let alone need to go through KYC on all of them? You are trusting an awful lot of strangers and and awful lot of unknown security systems to keep your personal details safe. That seems ridiculous to me. If I were you, I would start by closing as many of those accounts as possible, and making it clear to the exchanges in question you wish for them to delete your details and copies of your documents. There is absolutely no guarantee they will, but I would at least try. Yes... I was wrong with that decision. In the past, I used to participate in a lot of bounties. Here the problem is that these tokens are not listed in all the exchanges. At the most, they could be traded in 2 or 3 smaller platforms. |
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enhu
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March 29, 2019, 02:11:35 PM |
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Very valid point. I have already submitted the scanned copy of my passport to at least a dozen crypto-exchanges and this is something that I am not very comfortable with. I think I may have to depend on the decentralized exchanges to trade by tokens. A dozen?! Wow. Why do you even need an account on a dozen different exchanges, let alone need to go through KYC on all of them? You are trusting an awful lot of strangers and and awful lot of unknown security systems to keep your personal details safe. That seems ridiculous to me. If I were you, I would start by closing as many of those accounts as possible, and making it clear to the exchanges in question you wish for them to delete your details and copies of your documents. There is absolutely no guarantee they will, but I would at least try. Yes... I was wrong with that decision. In the past, I used to participate in a lot of bounties. Here the problem is that these tokens are not listed in all the exchanges. At the most, they could be traded in 2 or 3 smaller platforms. Its too late to start closing exchange accounts when you already submitted KYC documents, even if you close those accounts, I think they may have to keep your details there. That is also the problem of the bounty hunters like me, I have submitted to these exchanges as I have to send to them the tokens listed on them. |
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o_e_l_e_o
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March 29, 2019, 06:19:52 PM |
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That is also the problem of the bounty hunters like me, I have submitted to these exchanges as I have to send to them the tokens listed on them. You don't have to send anything to anyone. Participating in bounties is your choice. No one is forcing you to, and certainly no one is forcing you do undergo KYC procedures. I would argue there there is no bounty campaign or any quantity of a useless token that is worth risking your identity for. |
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Netnox
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March 31, 2019, 05:35:19 PM |
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Its too late to start closing exchange accounts when you already submitted KYC documents, even if you close those accounts, I think they may have to keep your details there. That is also the problem of the bounty hunters like me, I have submitted to these exchanges as I have to send to them the tokens listed on them.
You are right. Now I am left with very few options. It would have been much better if the bounty payments were made in ETH or BTC. But then, who cares about the bounty hunters? They are just pawns with no power. |
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andulolika
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March 31, 2019, 05:44:51 PM |
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Hello guys.
I'm very very far from making some kind of cash-out, but i was just wondering... How do you handle the thing of being forced to give your personal informations to exchanges to be able to convert your cryptos in fiat and transfer them on bank?
For how i see it there it's a very high possibility (if not certainty) that exchanges are selling the informations given by their costumers... and anyway there is alway the risk that they get hacked.
Knowing this, why you handled your ID and documents to exchanges? making some money it's enought to compesate the risks for you? do you use some alternative way to cash out your crypto?
For me, giving bank coordinates should be enough to allow people to cash out... The worst that can happen in that way is having your bank account hacked, but in these cases the banks give some warranties and some kind of protection/indemnity...
I don't see the necessity to provide an exchange with photos, ID, bills etc...
What do you think? do you think this system will change in the near future? what alternatives do you have?
Exchange KYC is almost acceptable or even necesary in some cases be it buyer or seller, but shitcoin shittoken shitico things are a completly different deal, you get simple graphic designing for your money and data that it is after sold on a dark market. However some exchanges don't requiere KYC for smaller amounts and there is ways to avoid this, try localbitcoins, it's somewhat better and is user2user through escrow. I personaly try to avoid exchanges that requiere payment for listing. |
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hyunee
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March 31, 2019, 06:57:56 PM |
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It depends on the exchange if I will give my own identity to them. If it is Binance or Bittrex, I'll surely give my required personal information to comply with their requirements in opening an account. Since, I can recover my account much faster if it got hacked.
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bitcoinisbest
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April 01, 2019, 05:30:00 PM |
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Very valid point. I have already submitted the scanned copy of my passport to at least a dozen crypto-exchanges and this is something that I am not very comfortable with. I think I may have to depend on the decentralized exchanges to trade by tokens.
One has to be very careful while submitting the kyc documents to any exchanges or any ICO related stuff etc because if you are not sure who the team is how they will protect your documents better not to submit to the unknown ones . |
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