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[buwaytress]

I'm surprised you didn't mention it, or is this also because you're not subject to them?

If you use exchanges without KYC, then what kind of tax documents can we talk about? If your government obliges you to keep a record of your transactions on any exchanges, then this is a different moment. When I used CEX in Russia, no one here required it. In general, in Russia, almost none of the crypto users pay taxes on their income from crypto currencies, since in this country there is no sane legal and tax base that would regulate all this, there are no special forms for crypto users that must be submitted to the tax control.

I suppose this is slightly different from the typical "KYC" requirement, which is just to know who the customer is (duh) and ensure it's an actual person and same person -- I am against it too, don't get me wrong, but as I noted above, I feel like where you come from, where you operate from, and how connected your country is to other regulations -- definitely something to consider.

As I understand it, my situation is unique and triggers all kinds of flags on systems mainly all due to multiple location, nationality, currency I use.

So instead of asking for my personal identity (as in my name, etc.) I was instead asked:

Proof of Asset (signing from wallets) was to prove the crypto was my own and deposited by me.
Proof of Source of Income: The tax documentation was to prove the source of income if I was salaried, or if I was freelancer, etc. I didn't give tax docs, I substituted with invoicing proving payments to my crypto wallets used as Proof of Asset. To show the money I earned to buy crypto, or the crypto I earned, was earned, rather than stolen or given.

Perhaps none of this will ever apply to you or 90+% of people on this forum since I honestly haven't met someone asked for these. And after your response, I guess my fact-finding continues.

P.S. Well done!

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[Chukwudumaga]

In-depth knowledge of your centralized exchange will make users more efficient. For those of us who trade in cryptocurrencies, it is very common to use centralized exchanges. I benefited a lot from your article. I sometimes faced some problems but did not know the solutions to those problems. I have registered with a few exchanges. As a trader I am using a top one and a medium level exchange. There are a few good reasons to use Top Exchange, one of which is the liquidity which you have shared notably. But besides this I am using another centralized exchange because it is not possible to know when what kind of problem will arise. Use a different exchange so I don't lose all my assets. Hopefully nothing like that will happen though.

I registered with my email address but later when I started KYC they also asked for phone number which I couldn't avoid. Now I have to do 2 verification to withdraw money which of course implies hard security. I initially thought the message on the phone number was boring but now I think positively.

Before considering the entire article i can say that if a new user reads your article before using Centralized Exchange he can be free from various complications.

[Zlantann]

Congratulations Ratimov. You have been an asset to the forum in different ways. Your posts are evergreen because they are filled with timeless information. I read the entire original post and I must confess that I have never had such a lesson as I did after reading. This lecture was indeed a good birthday gift. I use to patronize some exchanges until the fall of FTX. Many of my friends lost so much money, and from then I avoided all exchanges. But your seven years of experience as written in this post have outlined some basic steps that will help to reduce the risk in dealing with exchanges. The issue of KYC has been a major issue when using exchanges but your experience has shown that these problems might not be generally surmounted, however, they can be controlled or reduced. Thank you for all you do for the community.

[KingsDen]

Congratulations Ratimov. You have been an asset to the forum in different ways. Your posts are evergreen because they are filled with timeless information.

You can say this again. During my early days in the forum, I admired Ratimov and wanted to follow his footsteps. I tried and it was moving well until he dropped a post title Beginners and Help Encyclopedia.  After reading the post I was just demoralised instead of being motivated. He dedicated so much time and resources in that very post. I wonder why such post hasn't been pined in the B/H board by now.
Congratulations Ratimov and remain exceptional.

[Promocodeudo]

Congratulations Ratimov, your doings in this forum are worth emulating, I took my time to read your post, you are a good mentor, and people like you deserve not just kudos but more than that, I have learnt a lot from you by encouraging hard work in my little way, your 4 years in this bitcointalk forum has been good for the entire forum at large, I am grateful for the knowledge you have impacted on me, keep it up sir.