about exchanges kyc withdraw!

[senin]

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem

But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem

after that exchange do not allow withdraw Their money !!

why this ?!

Why they allow them to deposit before Complete KYC

They say we follow the law Does the law recommend doing so? Something weird!

Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!

what I think from like this exchanges They want Attract Volume Without regard to the interest of users

I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !

Exchanges are always interested in a large number of customers. Therefore, their policies are aimed at attracting them as much as possible. But in the withdrawal of funds from the exchange of its administration is not interested. Therefore, it may deliberately search for reasons for making it harder to withdraw a cryptocurrency from the exchange. In addition, if clients fail to pass the KYC check or for other reasons leave the cryptocurrency on the stock exchange, after some time the administration of the stock exchanges will be able to appropriate them.

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[BASIS ID]

You are correct.
Most of the exchanges want more customers. KYC scares many of them away and conversion rates fall.
I believe that it's unethical not to explicitly mention that KYC is required to withdraw, however, in my opinion, the problem does not lie in the exchange. The problem is that currently most of the KYC providers do not have a user-friendly widget that would make KYC seamless. Exchanges understand that with adding KYC, they have a chance of losing a customer. But they want to be compliant as well so they include a KYC at the withdrawal. Some KYC providers are working hard to ease this problem but what does it take to eliminate the discomfort completely?

Anyway, I think every person, who has been in trading for a while is used to KYC and expects it to appear at some point or am I wrong?

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem

But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem

after that exchange do not allow withdraw Their money !!

why this ?!

Why they allow them to deposit before Complete KYC

They say we follow the law Does the law recommend doing so? Something weird!

Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!

what I think from like this exchanges They want Attract Volume Without regard to the interest of users

I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !

Exchanges are always interested in a large number of customers. Therefore, their policies are aimed at attracting them as much as possible. But in the withdrawal of funds from the exchange of its administration is not interested. Therefore, it may deliberately search for reasons for making it harder to withdraw a cryptocurrency from the exchange. In addition, if clients fail to pass the KYC check or for other reasons leave the cryptocurrency on the stock exchange, after some time the administration of the stock exchanges will be able to appropriate them.

[dark1234]

in general, kyc is needed for exchanges that use open systems while for neutralized matches this is not needed and for the time being kyc is not something to fear because 85% already use KYC so there is no problem for that ...

[Ipwich]

The only solution to this is to read all the terms and condition before joining.
Some exchange does not have the feature to disallow registration if not eligible, it's like a manual thing and they can only do afterwards.
So, to avoid this problem, it's necessary that before we agreed with the terms, we have to ensure that we read it and understands it.

[TheKeyLongThumbI]

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem

But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem

after that exchange do not allow withdraw Their money !!

why this ?!

Why they allow them to deposit before Complete KYC

They say we follow the law Does the law recommend doing so? Something weird!

Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!

what I think from like this exchanges They want Attract Volume Without regard to the interest of users

I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !

I believe you got a point but if we rethink the whole case, there is really nothing wrong if the exchange wants to enforce kyc before you can withdraw because they need to strictly implement what the regulations say to avoid money laundering. But there are many good exchanges that has only limit of withdrawal and if you go beyond that then that is the time you really need to undergo their KYC procedure.

[Bikerbmt47]

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem

But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem

after that exchange do not allow withdraw Their money !!

why this ?!

Why they allow them to deposit before Complete KYC

They say we follow the law Does the law recommend doing so? Something weird!

Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!

what I think from like this exchanges They want Attract Volume Without regard to the interest of users

I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !

I use binance exchange, it took me a long time to complete KYC. I think KYC is necessary for the development of exchange.

[Oilacris]

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem

But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem

after that exchange do not allow withdraw Their money !!

why this ?!

Why they allow them to deposit before Complete KYC

They say we follow the law Does the law recommend doing so? Something weird!

Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!

what I think from like this exchanges They want Attract Volume Without regard to the interest of users

I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !

I use binance exchange, it took me a long time to complete KYC. I think KYC is necessary for the development of exchange.

You don't know on what you are talking about.KYC has nothing to do with the development of an exchange yet these things
are just some sort of verification which exchangers need to comply yet governments do required them to do so that's why they don't have
any option but to comply with the rules but some of them do take this step on shady acts that's why most people don't really like to
submit any kyc.

[marcbitcoins]

We should avoid this kind of exchanges because of the way they required KYC. Their system of KYC is unfair in which for sure many assets will be hold in their favor as they will just charge it technically over disqualified KYC. This is cleary a stealing in disguise i hope the regulation is against this process to protect the crypto users.

[goaldigger]

Same as banks. Banks can make you open a savings account even with just one valid ID or even secondary IDs because they need your deposit. On the other hand, if you withdraw your account, they will ask for two or more IDs to verify. KYC isnt bad if thats the case. I agree with this for security.

[Falgorn]

The exchanges are interested in people contributing their funds to them, as well as in keeping them in the accounts of the exchange. Therefore, favorable conditions are created for depositing funds on the exchange, however, when withdrawing funds from the exchange, various obstacles are created, including by requiring the KYC check. Of course, first of all, you need to require that the exchanges name the documents on the basis of which they require passing the KYC check and what information about yourself must be provided. Exchanges in this matter may abuse their rights. At the same time, it is better to find out everything before you deposit your cryptocurrency to the exchange.
I think that checking KYC should be only in respect of individuals who trade with significant amounts.

[Kasabus]

Unfortunately that's their rule, they are talking advantage on our lack of knowledge so they can play around.

To make sure things remain working on your part, just comply with the KYC, that's the trend now, we are not dealing with decentralized exchange here.
I have centralized exchanges accounts and some are fully verified while some are not, but I made sure when it comes to big transaction, I use my verified account.

To avoid inconvenience on your part, you need to read the rules and policy of the exchange you are using.

[lepbagong]

in general, kyc is needed for exchanges that use open systems while for neutralized matches this is not needed and for the time being kyc is not something to fear because 85% already use KYC so there is no problem for that ...

actually the problem of kyc is still a problem when behind the new information about the kyc, not from the beginning when someone starts. like there are intentions that are not good behind that because there are still many who have not accepted with certainty about the Kyc.
maybe you are right that there are many who use kyc and maybe there is no problem, but for me what is needed from the beginning is there is openness, so if someone does not like being able to avoid.

[imstillthebest]

in general, kyc is needed for exchanges that use open systems while for neutralized matches this is not needed and for the time being kyc is not something to fear because 85% already use KYC so there is no problem for that ...

actually the problem of kyc is still a problem when behind the new information about the kyc, not from the beginning when someone starts. like there are intentions that are not good behind that because there are still many who have not accepted with certainty about the Kyc.
maybe you are right that there are many who use kyc and maybe there is no problem, but for me what is needed from the beginning is there is openness, so if someone does not like being able to avoid.

I am tryring to understand what you explain above . you mean the site needs to give notice that they will need a kyc ?  Because some sites and some projects dont give any notice and the users will only be shock at the middle or at the end that they will be ask for a kyc  .

 aside from those , you also need to chose a site or a project that is already proven and tested to be safe and legit before you do a kyc just be extra sure that your infos will be safe from exploits 

[ene1980]

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!

It is an age old trick to lure the users, some users will turn away if they ask for the KYC when they try to register and they will know the trap only when they try to withdraw the coin, even if the amount of coins you are withdrawing is less than $100 they will collect all your details and there is nothing you can do about it. Once we provide all the details we will come again so that they have a customer and that is the strategy some exchange has.

[maxreish]

Can you provide what exchanges to that? As far as I know, some reputable exchanges like binance, bitmex doesn't require kyc for depositing and withdrawing. My transactions are fine with them. Maybe you can consider exchanges that are already trusted so that you can prevent these kind of tricks. Somehow, I tried to understand this kind of protocol in some exchanges like not requiring kyc for depositing but strictly required kyc for withdrawing.

[Vishnu.Reang]

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!

It is an age old trick to lure the users, some users will turn away if they ask for the KYC when they try to register and they will know the trap only when they try to withdraw the coin, even if the amount of coins you are withdrawing is less than $100 they will collect all your details and there is nothing you can do about it. Once we provide all the details we will come again so that they have a customer and that is the strategy some exchange has.

This happened to me with Cryptopia. When I created an account with them, they never mentioned about KYC. Then I deposited some altcoins and got them converted to Bitcoin and Ethereum. But while withdrawing, they asked for KYC. Fortunately, I found someone who would do the KYC for me, in exchange for a monetary payment.

[Ridwan Fauzi]

We should avoid this kind of exchanges because of the way they required KYC. Their system of KYC is unfair in which for sure many assets will be hold in their favor as they will just charge it technically over disqualified KYC. This is cleary a stealing in disguise i hope the regulation is against this process to protect the crypto users.

Most exchange on cryptocurrency market are centralized which mean there is someone or a group who set in order to make the exchange will run properly. As you may know, if you deal with a system who has a centralized system then you need to give your identity to them. It's not far such as you make a bank account in your country where you are required to provide your identity in order all activities that you do will be known by them. As for cryptocurrency exchange such binance, bittrex and local bitcoin need an identity from their user.

[Caladonian]

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem
But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem
after that exchange do not allow withdraw Their money !!
why this ?!

It is an age old trick to lure the users, some users will turn away if they ask for the KYC when they try to register and they will know the trap only when they try to withdraw the coin, even if the amount of coins you are withdrawing is less than $100 they will collect all your details and there is nothing you can do about it. Once we provide all the details we will come again so that they have a customer and that is the strategy some exchange has.

This happened to me with Cryptopia. When I created an account with them, they never mentioned about KYC. Then I deposited some altcoins and got them converted to Bitcoin and Ethereum. But while withdrawing, they asked for KYC. Fortunately, I found someone who would do the KYC for me, in exchange for a monetary payment.

Lucky for you that even you don't want to comply with this requirement you manage to find someone to deal it for you, it would be a bad thing
if you didn't find someone as you'll be force doing things that you really don't like to be done, your coins will be at stake since the exchange is
requiring you to deal with KYC.

[stadus]

A trader needs to read the TOS of the exchange, don't try to trade if your country is prohibited as this would likely happen.
It will only cause inconvenient on your part and you might loss your money, I never heard complains about exchanges, most of the complain like this are from gambling sites where gamblers are allowed to gamble but in the end money is held because KYC is required.

[1Referee]

A trader needs to read the TOS of the exchange

Isn't going to happen. Most of the 'research' people conduct is based on searching through Google whether or not there are withdrawal problems and whatnot.

don't try to trade if your country is prohibited as this would likely happen.

If an exchange doesn't accept users from a certain country they aren't forwarded a registration or login page. They see a message stating that they aren't allowed to use that specific exchange. I haven't heard yet of an exchange not accepting users from X country but still allows them to register. That would be pretty odd, don't you think?