Bitcoin and crypto currencies are getting dangerous

[MCobian]

Bitcoin continues to provide freedom, transparency, privacy and futures. As long as we don't use centralized exchanges everything will be fine.
But because I don't think I am doing illegal activities, I don't mind the government tracking my Bitcoin transactions. For KYC procedures on
centralized exchanges I also object, but that doesn't lose us any freedom. It's just that we don't have privacy anymore, but KYC is mandatory
so that the government can regulate cryptocurrency and also reduce incidents scams in the crypto world. However, if you really object to the
KYC procedure, you can use DEX as an alternative.

[kotajikikox]

All this is far-fetched rather than exaggerated

That's it,op has know nothing about what and How crypto works thats why He can just easily says this kind of word.

Crypto is one of the helpful materials mankind has ever found.
In this pandemic more people had rely on this than Fiat alone so how come that danger comes in Bitcoin and crypto?

DEX is the future of crypto exchange. If you trade crypto in centralized exchange (kyc is needed there), it means you are no more in control of your own asset. You are keeping your money into their hand. Just use dex. You will have full control upon your asset. BTC is supreme in tech wise. Dont make confusion

DEX has been around the forum now,mind enlightening me what is this all about and how does this become helpful for all crypto users.

[mezzaluna]

Its not Bitcoin and Cryptocurrencies that are getting dangerous rather the new Exchange Websites that promise too much in the beginning but can always turn their backs on you once you submitted your KYC. The only reason you need to submit KYC's is when you are ready for trading. That means that you are committing yourself to trade on a daily or monthly basis since registering on an exchange for no reason is quite a waste of time.

[carriebee]

Its not Bitcoin and Cryptocurrencies that are getting dangerous rather the new Exchange Websites that promise too much in the beginning but can always turn their backs on you once you submitted your KYC. The only reason you need to submit KYC's is when you are ready for trading. That means that you are committing yourself to trade on a daily or monthly basis since registering on an exchange for no reason is quite a waste of time.

When you submit the kyc this really means you agreed on the terms and conditions of that exchange. Actually even the new website asking for the kyc is also dangerous best is to choose other legitimate exchange which proven and tested already. As what others said if op is not willing to submit personal identification he has an option not to do so. We have the freedom to choose the exchange in which we can trade our crypto.

[tuchenvi]

I'm not agree that crypto is dangerous.  KYC on exchanges should be easier, that's sure, but still - it must be. Exchanges think first of all about their credibility, legal issues and security - so they need to check their users. I do not have any problem will passing KYC and even purchasing and withdrawal crypto with USD card - I do it on cex.io and i can't say that there's something makes me feel uncomfortable

[ichi]

Each concentrated trade upholding for KYC, a few out of every odd trade. When another trade dispatch, at that point we bring up issues from which nation it's enrolled, is it have a permit from the public authority? However, we fail to remember that, on the off chance that a unified trade works have a place with the public authority's permit, at that point there will have a few standards guidelines, and its result is KYC. Trades probably constrained by governments to consent to guidelines to forestall falsely.

In any case, it wouldn't forestall your monetary opportunities on the off chance that you don't utilize them. It's not compulsory to exchange on trade, bitcoin wasn't fabricated only for exchange. It's a distributed decentralized digital money. All things considered, presently it's decentralized and it will remain. Issues are with incorporated trade which you would keep away from.

[judaspriest]

Its not Bitcoin and Cryptocurrencies that are getting dangerous rather the new Exchange Websites that promise too much in the beginning but can always turn their backs on you once you submitted your KYC. The only reason you need to submit KYC's is when you are ready for trading. That means that you are committing yourself to trade on a daily or monthly basis since registering on an exchange for no reason is quite a waste of time.

KYC doesn't help, everyone should switch to DEX because without KYC your funds will still be safe,
we know some exchanges have been hacked, and this makes cryptocurrencies even more dangerous,
but if you store them in a DEX wallet or personal wallet then you will be far away from hackers attack.

[minhkhoa]

I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.

I do not agree with this view, because KYC is very useful and effective, avoiding unfortunate cases of fraud. You want to trade safely and reduce the risk why not think in a better direction. Your question makes me wonder what is the danger of Bitcoin and the crypto market?

[husin666666]

This (KYC) will lead people to resort to decentralized Exchanges, despite the high fees, but there is no other option.

[Shasha80]

Maybe because I'm used to using a bank that has to submit documents, So when using exchanges requires KYC procedures don't
consider it dangerous. As long as the exchanges have a good security system and a good reputation, I don't mind that. Besides,
I need to convert my cryptocurrency to fiat, and transferred to my bank account, so if the exchanges enforce KYC I don't mind.