Shapeshift Membership

[moderate]

Shapeshift Moves to Membership Model Requiring User Information!

I think crypto services are being forced to move to such models.

Another one bites the dust... 

[lotsofblocks]

They still offer to buy using credit card and their service is great for newbies.  I'm not sure how hard and/or long it will take to pass the kyc so that could really hurt them.

Binance will go KYC soon enough plus all legit exchanges.

[AdolfinWolf]

They still offer to buy using credit card and their service is great for newbies.  I'm not sure how hard and/or long it will take to pass the kyc so that could really hurt them.

Binance will go KYC soon enough plus all legit exchanges.

I doubt Binance will ever adapt KYC laws voluntarily. Where did you get that information from? AFAIK they keep server locations a secret, they don't care how many "unverified" accounts you open, and have also announced that they will launch a DEX in the near future.

The entire reason they became popular really was because Polo/Bittrex did force KYC. I feel like Binance will be replaced just as fast if they were to do so too.

https://cointelegraph.com/news/binance-releases-demo-of-decentralized-exchange
-- https://www.youtube.com/watch?v=9R9LrKgL__A

Could be that he just wants to pump his BNB coin, but i seriously doubt that when you have an exchange averaging a billion$ a day (=more $ in fees than BNB could ever make them)

plus all legit exchanges.

Oh, you mean the likes of Poloniex/Bittrex who duped and lied to their customers? Yeah, those sure are legit!  

[Oasisman]

They still offer to buy using credit card and their service is great for newbies.  I'm not sure how hard and/or long it will take to pass the kyc so that could really hurt them.

Binance will go KYC soon enough plus all legit exchanges.

I doubt Binance will ever adapt KYC laws voluntarily. Where did you get that information from? AFAIK they keep server locations a secret, they don't care how many "unverified" accounts you open, and have also announced that they will launch a DEX in the near future.

The entire reason they became popular really was because Polo/Bittrex did force KYC. I feel like Binance will be replaced just as fast if they were to do so too.

Had to ask the same question to the guy above you. As we all can see, what makes Binance different from this "LEGIT" exchanges that forces KYC verification is, they keep everything anonymous as possible, and managed it with a smooth service.

plus all legit exchanges.

Oh, you mean the likes of Poloniex/Bittrex who duped and lied to their customers? Yeah, those sure are legit!  

Lol that made me laugh  ! 😂

[lotsofblocks]

Binance wants to offering fiat to crypto.  There is no way that will happen by not implementing KYC.

Keeping their servers anonymous is just trying to avoid getting caught but I don't see governments allowing this forever.

[gentlemand]

Is the hidden binance server thing a fact? If it is then I would find that a turn off, not the exit scam side of things, more the inference that it's an acknowledgement of them sailing close to the wind.

If you want to be the world's largest exchange then you're going to have to swallow The Man's sperm whether you want to or not.

[figmentofmyass]

Binance wants to offering fiat to crypto.  There is no way that will happen by not implementing KYC.

they actually already have KYC. you just don't need to complete it if you're okay with the 2BTC daily withdrawal limit.

i imagine it'll be like bitfinex. no KYC required to trade or withdraw cryptocurrency, but KYC required for depositing and withdrawing fiat money.

Is the hidden binance server thing a fact? If it is then I would find that a turn off, not the exit scam side of things, more the inference that it's an acknowledgement of them sailing close to the wind.

i don't think hiding their servers will do much for them anyway, if shit really hits the fan. just ask the admins at btc-e......

[eternalgloom]

I was glad that I didn't have to upload any ID to get verified.
All they've asked me was the number on my passport, got verified after that.

I still think it's pretty bad that you now have to do KYC to trade between crypto, it's really starting to become the standard nowadays.

[AdolfinWolf]

Is the hidden binance server thing a fact? If it is then I would find that a turn off, not the exit scam side of things, more the inference that it's an acknowledgement of them sailing close to the wind.

If you want to be the world's largest exchange then you're going to have to swallow The Man's sperm whether you want to or not.

Their CEO stated in september 2017 that their servers were located in Korea, https://www.youtube.com/watch?time_continue=420&v=LW9QHtLVK-k, but since then they have moved their headquarters to Malta?. I think.

See https://blockonomi.com/binance-malta/

After that it became unknown where (In what country) their servers are located. OR if they are still located in Korea.

This their universal response when asked where their servers are located;

Binance is an international exchange and we operate from multiple locations around the world. Unfortunately, for security reasons, we aren't able to disclose these locations.

However, we are not governed by any one jurisdiction. There is no reason to worry or withdraw your funds.

See https://www.reddit.com/r/binance/comments/7pljli/can_someone_please_tell_me_where_is_binance_based/dt3k5nr

<|https://i.imgur.com/C0W5bl1.png|>

If i recall correctly, something someone in the State of New york already called for an investigation against Binance because they were breaking several laws. (Just like Poloniex was in that jurisdiction.)

This might be it. https://finance.yahoo.com/news/york-says-three-crypto-exchanges-184626208.html?guccounter=1

[leopard2]

Ahhh don't you worry...Shapeshift is just preparing for a takeover, think about it; Polo fetched 400mm, pretty sure Shapeshift is worth xxx millions too, but only with 100% rock solid regulator dick sucking behind it.

If it wasn't about money Vorhees could just close the company, right? I guess he got offers that he could not refuse. 

Technically you only need KYC if you trade crypto vs fiat, in large quantities (for small quantities there are p2p options).

However crypto to crypto does not require an exchange at all, nor a corporation of any kind - blockchain assets can technically be traded on decentralized exchanges. No regulator in the world can prevent a dapp from executing a trade from crypto A to crypto B.

What Shapeshift does can be done on ETH, NEO, Byteball, Bitshares and many more.

You've got to admire the newspeak though, "membership, rewards"

You are not tax slaves anymore, just IRS "members" 

[gentlemand]

Ahhh don't you worry...Shapeshift is just preparing for a takeover, think about it; Polo fetched 400mm,

That'll probably go down in history as one of the worst buys of all time. There needs to be a permanent uptick, not a bubble, for these valuations to be justified and the likelihood of that is very low.

[BuyBuyBitcoin]

Surprised bisq isn't mentioned yet.

It's might not be the best option for getting into bitcoin as a first time buyer but anyone with bitcoin already could trade altcoins on their decentralized platform.

Non-kyc options from https://www.bestbitcoinbuyers.com/buy-bitcoin-anonymously/

Binance
bisq
Hodlhodl
Paxful
Changelly
Coinmama
Wall of Coins
Mycelium wallet local trader

[d5000]

What Shapeshift does can be done on ETH, NEO, Byteball, Bitshares and many more.

The problem is that most active platforms only offer trading of "tokens" and "pegged tokens". Atomic swaps are supported only by few of them. I've made a list in German. To resume: AFAIK at the moment only BarterDEX and Blocknet offer working graphical tools to realize atomic swaps. BarterDEX already works for a year or so, and also Blocknet has published its open Block DX tool, although Blocknet requires additionally a Blocknet cryptocurrency client, so there is more hassle involved.

Bisq is an alternative: For altcoin-to-altcoin trading there is almost no risk, as it's easy for the arbitrators to prove that one of the parties scammed the other. And it offers fiat-to-crypto trades, albeit it's more risky.

Edit: Just checked Blocknet, seems to be active.

[TrumpD]

Shapeshift Moves to Membership Model Requiring User Information!

I think crypto services are being forced to move to such models.

Another one bites the dust... 

Why do you think so? They will lose some of their market share in the short term, however, I think they will thrive in the long term. The recent trend is crypto seems to be shifting towards KYC and lots of it. Most Asian exchanges demand them and Coinbase is doing very well regardless.

[leowonderful]

Shapeshift Moves to Membership Model Requiring User Information!

I think crypto services are being forced to move to such models.

Another one bites the dust... 

Why do you think so? They will lose some of their market share in the short term, however, I think they will thrive in the long term. The recent trend is crypto seems to be shifting towards KYC and lots of it. Most Asian exchanges demand them and Coinbase is doing very well regardless.

KYC's something many people avoid here, and this has definitely hurt Shapeshift in the short term. Other more anonymous options that don't require as much verification will definitely thrive in this current crypto ecosystem; the optional KYC on Binance is a big contributor to why they've blown up in popularity and volume in the last few months.

Bisq is indeed a good alternative for a plce to swap coins without vertification, but note that to use the platform you'll need to have a computer that runs Windows, Mac or Linux. There is an app on both the Google and Apple app stores for Bisq, but they're just for notifications. Binance has also worked flawlessly for me with very few issues. The limits without verification for me aren't too much of a problem, though you do get enhanced limits for withdrawal, etc if you do choose to verify yourself.

[1Referee]

Other more anonymous options that don't require as much verification will definitely thrive in this current crypto ecosystem; the optional KYC on Binance is a big contributor to why they've blown up in popularity and volume in the last few months.

They certainly will thrive, and already do to a larger extent, but it's all short term with how even Binance will eventually find itself in a position it can't escape from anymore. I'm not using Binance personally, but there will be a day where Bitmex (my current platform of choice) will also force its users to walk themselves through some sort of verification process.

The rest of the services retaining their zero verification advantage will contantly have to worry about the authorities raiding the crap out of them. You can try to keep hiding behind proxies as much as you want, but eventually the hammer will hit you so hard that it means game over. I personally don't care about these services specifically, but they always affect users which is the sad part, because the government won't give you anything back once they seized the assets of an illegal operation.

[TrumpD]

Shapeshift Moves to Membership Model Requiring User Information!

I think crypto services are being forced to move to such models.

Another one bites the dust...  

Why do you think so? They will lose some of their market share in the short term, however, I think they will thrive in the long term. The recent trend is crypto seems to be shifting towards KYC and lots of it. Most Asian exchanges demand them and Coinbase is doing very well regardless.

KYC's something many people avoid here, and this has definitely hurt Shapeshift in the short term. Other more anonymous options that don't require as much verification will definitely thrive in this current crypto ecosystem; the optional KYC on Binance is a big contributor to why they've blown up in popularity and volume in the last few months.

Bisq is indeed a good alternative for a plce to swap coins without vertification, but note that to use the platform you'll need to have a computer that runs Windows, Mac or Linux. There is an app on both the Google and Apple app stores for Bisq, but they're just for notifications. Binance has also worked flawlessly for me with very few issues. The limits without verification for me aren't too much of a problem, though you do get enhanced limits for withdrawal, etc if you do choose to verify yourself.

There is an issue of trust when using anonymous exchanges. I wouldn't trust these services with a high amount of coins. They could exit scam at any moment, or change policies after receiving deposits then request kyc.

Kyc is almost normal these days in financial services. Cryptocurrencies will go the same way and the process has already started. It won't be long before it becomes the norm.

How long do you think Binance will hold out for before making it mandatory? I don't think they will for long.

[BitHodler]

How long do you think Binance will hold out for before making it mandatory? I don't think they will for long.

Binance fled to Malta not that long ago, and for the time being they are safe in my book. The only thing I expect them to do in the near future is to start rejecting US citizens in an attempt to shake off the US authorities.

Some of the largest exchanges have already been doing so for quite a while now, and it's the safest possible move because of how active the US authorities have been and will be getting in the coming years.

I hope that whenever Binance decides to do anything that would require them to terminate user accounts, that they give them enough time to withdraw their funds without subjecting them to ridiculous verification steps.

If Coinbase allows people to withdraw their funds without any hassle prior to their account termination, other exchanges should be able to do the same.

[Continuous]

Surprised bisq isn't mentioned yet.

It's might not be the best option for getting into bitcoin as a first time buyer but anyone with bitcoin already could trade altcoins on their decentralized platform.

Non-kyc options from https://www.bestbitcoinbuyers.com/buy-bitcoin-anonymously/

Binance
bisq
Hodlhodl
Paxful
Changelly
Coinmama
Wall of Coins
Mycelium wallet local trader

For exchanging ERC-20 tokens with no need for KYC you should use Ethershift - they're operating and headquartered in Antigua and their laws are very flexible and these guys are all for the user privacy!

[gentlemand]

How long do you think Binance will hold out for before making it mandatory? I don't think they will for long.

Binance fled to Malta not that long ago, and for the time being they are safe in my book. The only thing I expect them to do in the near future is to start rejecting US citizens in an attempt to shake off the US authorities.

Some of the largest exchanges have already been doing so for quite a while now, and it's the safest possible move because of how active the US authorities have been and will be getting in the coming years.

Anyone who thinks Malta won't immediately roll over when ordered to is delusional. It's purely a matter of time before the pressure is put on. Will Malta ignore the rest of the world and embrace one Chinese bloke or protect the 99.999% of their economy that isn't crypto related?