martina14
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September 02, 2019, 10:06:15 PM |
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Even a 0.01 percent will be a good profit, it is about the number of transactions daily. Once you put all small amount together it can be millions of amount.
About personal data, anyone can sell our identity with out our permission and knowledge.
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barbara44
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September 06, 2019, 05:56:54 AM |
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I have not found any exchange selling personal data of its clients. But I have heard that our personal data given to anyone for a purpose maybe misused. Nowadays, many crypto projects and exchanges are requiring KYC information. So we have to be very careful in this matter. Crypto exchanges earn by charting its clients for trading and withdrawing.
KYC nowadays is unavoidable because every company wants to have your details as probably requested by government or effective to their drafted policy, so we just need to take your advice and then be careful with the way we just submit our details. We cannot stop them from asking for KYC but we can stop giving details to companies that we are not completely comfortable with. KYC could be very risky, especially those who are requesting for very deep detail from us like our passport and we all know the implication of what our passport would be when it gets to the hand of terrorist. They could use our face on the passport for their various atrocities and this is one reason why we have some people that are very careful about their KYC details with strangers.
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Samboo
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www.thegeomadao.com
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September 06, 2019, 06:32:15 AM |
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Charging clients for trading and withdrawing is a source of income of crypto exchanges. They charge a minimal fees from each clients and the charged amounts become huge when there are many clients charged. I have not experienced that any exchange has misused personal details of clients for their personal gains.
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tunapa
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September 06, 2019, 07:30:09 AM |
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Changelly is just a platform to exchange cryptos from one coin to another , it’s not generally for buying , selling and liaising of projects ! So they won’t charge much ! Which is why their fees is low ! Unlike the main and full functional exchange like binance , kucoin ! Exchanges dosent have right to sell users data and they would not do that !
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btcmegastar
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September 06, 2019, 07:37:01 AM |
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Charging clients for trading and withdrawing is a source of income of crypto exchanges. They charge a minimal fees from each clients and the charged amounts become huge when there are many clients charged. I have not experienced that any exchange has misused personal details of clients for their personal gains.
Yes, for higher withdrawals more than 2 BTC per day we need to submit our details to exchanges. Without taking a transaction fee, it is impossible for the exchanges to survive in the market, I hope more client will help them to get more transaction fee on the transaction they are doing. Till now, I never anything negative about the exchange misused our personal details.
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gensol
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September 06, 2019, 07:48:28 AM |
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I doubt if they sell users personal data. For big exchange, how they make their money is in the volume of trades per day. If they have active traders who make active trades on a daily basis, when it gets compounded you see its huge. But when you make reference to individual transactions fees that's when it seems small.
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Crytodon
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September 06, 2019, 08:04:17 AM |
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Yes and No I saw recently on Bitcointalk a individual who was asking people to contact him for the business of selling 150,000 cryptocurrency related emails,a big question is where did they get the emails from
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Distinctin
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September 06, 2019, 08:13:14 AM |
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I doubt if they sell users personal data. For big exchange, how they make their money is in the volume of trades per day. If they have active traders who make active trades on a daily basis, when it gets compounded you see its huge. But when you make reference to individual transactions fees that's when it seems small.
Trading fees is clearly the bread and butter of an exchange and they need more clients in order for them to earn good trading fees as their income. Selling clients personal information is them destroying their reputation, no exchange would do that. Look at Binance, they don't sell KYC information from clients but the data were leaked, and because they area a big exchange, everyone knows what happen, they maybe still one of the best exchange now but their negligence will remain forever in the minds of the people, if only there's a big exchange close to Binance quality, people would surely leave this exchange.
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Crypt0BHunter
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September 06, 2019, 08:18:03 AM |
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Are you talking about crypto exchange services or about crypto exchanges for trading? because there are a lot of doubtful crypto exchanges not to be trusted
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DoublerHunter
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September 06, 2019, 08:32:25 AM |
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Possible it is yes, there are crypto exchanges not to be trusted. Most especially those crypto exchanges that newly launched and don't have enough trust. Avoid those IEO/CEO projects that required KYC verification because they are not safe if they are going to be successful or not. Nevertheless, as much as you can avoid passing KYC then do it. Unless they had built a good brand name that deserves to be trusted.
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efxtrader
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GoMeat - Digitalizing Meat Stores - ICO
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September 06, 2019, 08:48:10 AM |
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Possible it is yes, there are crypto exchanges not to be trusted. Most especially those crypto exchanges that newly launched and don't have enough trust. Avoid those IEO/CEO projects that required KYC verification because they are not safe if they are going to be successful or not. Nevertheless, as much as you can avoid passing KYC then do it. Unless they had built a good brand name that deserves to be trusted.
It is possible for an exchanger to sell its customer data because many exchangers are established in countries without clear regulations. It's best if we avoid exchangers like this because our documents will be sold but it would be better if many countries regulate exchangers and the cryptocurrency market for the safety of customer funds and documents
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stfN2128
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September 06, 2019, 08:59:24 AM |
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Hello! What is an average fee you pay to crypto exchanger? I use changelly and pay just 0.25% and I think this is pretty weird. How do they make money? Sometimes I think that they sell users data and I'm thinking to pick another exchanger.
An Exchange lives from a lot of users and a lot of trades, not only one user. Just do the math and calculate 0.25% x 10000 trades. Exchanges also make money by listing fees, your personal datas can be sold by every company and the point that an exchange charges low fees isn't an indicator that they sell your datas to make additional money. exchanges have a lot of competitors, they have to charge low fees to gain users.
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cherryganda
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September 06, 2019, 09:06:56 AM |
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AS long as they hold your KYC or any documents from you they can. Though it is illegal but how sure we are that they are not doing that? As long as possible i am not giving away any infromation to any team or website.
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mika11
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September 06, 2019, 09:24:20 AM |
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A lot of exchanges sell user data, which is terrible
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mihtju
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September 06, 2019, 09:49:04 AM |
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If you have suspicions of dishonesty of any exchange, you should not use it. But fees can't be the deciding factor. The above people have explained that even with a small fee, but large volumes, the exchange can earn excellent. Look at the reputation of the exchange, the reviews of people about it and based on this form your opinion.
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coinsycrip09
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September 06, 2019, 10:52:53 AM |
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If you have suspicions of dishonesty of any exchange, you should not use it. But fees can't be the deciding factor. The above people have explained that even with a small fee, but large volumes, the exchange can earn excellent. Look at the reputation of the exchange, the reviews of people about it and based on this form your opinion.
i think your words are true, if we feel they are suspicious, we can leave them. but we cannot accuse them and suspect them without reason. we should first look at people's reviews before using the exchange. there may be some exchanges that sell our personal data, but i still haven't seen clear evidence of that. but that does not mean we must always trust all sites and exchanges, check first before we take action to trust them.
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pelumi20
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SmartFi - EARN, LEND & TRADE
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September 10, 2019, 05:10:42 PM |
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I think the exchange is progressively cautious with the user's data, in spite of the fact that it can happen to sell user data to the dim web. be that as it may, attempt to think positively, perhaps the exchange asks user data for administrative purposes or anticipates the security of tax evasion.
for the cost of 0.25%, I see the normal exchange rate pegged around that. whenever duplicated by all users and every one of the transactions there are very fantastic
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Kvalentine
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September 19, 2019, 03:58:59 PM |
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Hello! What is an average fee you pay to crypto exchanger? I use changelly and pay just 0.25% and I think this is pretty weird. How do they make money? Sometimes I think that they sell users data and I'm thinking to pick another exchanger.
Grab yourself a calculator and calculate that 0.25% in million places and transactions are been made every single day, still think they are making too little money? rethink pal changelly can take good care of themselves because they are making awhole lots of money every damn day
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Kvalentine
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September 19, 2019, 04:01:39 PM |
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Its possible that exchanges can sell your data especially your KYC details can get leaked to darkweb that is why i prefer decentralized exchanges, some centralized exchanges like binance still allow users to exchange and trade without KYC with limitations so you can use binance or other exchanges like it
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desticy
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www.cd3d.app
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September 20, 2019, 07:40:48 PM |
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As for the sale of personal data, you won’t earn much from it, and yes, there have been such cases (Binance, Bittrex). But I think that some employees of the exchange are trying to make money on this. All exchanges pay for is server rental, in other words, for hosting. Therefore, in the presence of a large number of trading volumes, a figure of 0.25% with a constant turnover can bring good income.
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