Official forum for Utopia Community
You are not logged in.
Read a user post on this forum some days ago about Kucoin Exchange being one of the Centralized Exchanges that provide some no-KYC services for their user.
Shocking news was posted some hours ago saying the exchange (KuCoin) planning to request KYC from all their users. On the other hand, Kraken was ordered by the US Judge to turn over customer information to the IRS.
Offline
Kucoin have changed to mandatory kyc, they have been a centralized no-kyc exchange for a longtime, but i knew that one day they will change it and become like other centralized exchanges that collect personal details. Kucoin will lose many of their customers to decentralized ecosystems, the people that will stay back have no problem giving kuCoin their private details.
Offline
A non-KYC exchange is a crypto exchanges that doesn't require verification of your personal identity via documents like a government issued ID.
Offline
In a world of endless data breaches, it goes even further than just protecting your privacy and security. How much and what you invest in is protected under your fundamental human right to privacy. You shouldn’t and don’t have to bend at the knee of KYC just to buy some cryptocurrency.
Offline
I have given up on centralized exchanges for a long time and even I will advice everyone to do same.
If you must use them do not enter KYC there and do not use it as a means of storage. Trade and transfer your coins out of there as soon as possible.
Offline
I have given up on centralized exchanges for a long time and even I will advice everyone to do same.
If you must use them do not enter KYC there and do not use it as a means of storage. Trade and transfer your coins out of there as soon as possible.
Its possible not to escape the usage of Centralised exchanged provided your dealing requires so but always make sure to remember you are only safe when your funds are in safe unit.
Offline
Well if this question was directed to me then I would say no, I am not using centralized exchange but I believe there are people doing so .
Offline
Lanistergame2;17054 wrote:I have given up on centralized exchanges for a long time and even I will advice everyone to do same.
If you must use them do not enter KYC there and do not use it as a means of storage. Trade and transfer your coins out of there as soon as possible.
Its possible not to escape the usage of Centralised exchanged provided your dealing requires so but always make sure to remember you are only safe when your funds are in safe unit.
I always makes use of decentralized exchange most especially when i have various or heavy transaction to make but when it comes to few funds and transaction location i do make use of centralized exchange
Offline
I majorly use crypton exchange at this point and only use other exchanges every once in a while.
With all the risks and news around centralized exchanges it is a surprise that people still keep their funds there.
Offline
I majorly use crypton exchange at this point and only use other exchanges every once in a while.
With all the risks and news around centralized exchanges it is a surprise that people still keep their funds there.
The world is always evolving and people are getting intelligent and those who fail to learn will always be a student to the lesson the future will teaches. I always support crypton exchange and am satisfied with the transaction service.
Offline
PEACEMAKER;17077 wrote:I majorly use crypton exchange at this point and only use other exchanges every once in a while.
With all the risks and news around centralized exchanges it is a surprise that people still keep their funds there.The world is always evolving and people are getting intelligent and those who fail to learn will always be a student to the lesson the future will teaches. I always support crypton exchange and am satisfied with the transaction service.
No one is above mistake and also we should always learn everyday that's the right thing to do, personally I am still learning so much about Utopia p2p and how it works.
Offline
gap;17093 wrote:PEACEMAKER;17077 wrote:I majorly use crypton exchange at this point and only use other exchanges every once in a while.
With all the risks and news around centralized exchanges it is a surprise that people still keep their funds there.The world is always evolving and people are getting intelligent and those who fail to learn will always be a student to the lesson the future will teaches. I always support crypton exchange and am satisfied with the transaction service.
No one is above mistake and also we should always learn everyday that's the right thing to do, personally I am still learning so much about Utopia p2p and how it works.
i look forward to know more about the Utolpia p2p ecosystem cause it always more intending in a way that the team are always creating more wonderful tools and its only some with more knowledge are getting the opportunity.
Offline
Read a user post on this forum some days ago about Kucoin Exchange being one of the Centralized Exchanges that provide some no-KYC services for their user.
Shocking news was posted some hours ago saying the exchange (KuCoin) planning to request KYC from all their users. On the other hand, Kraken was ordered by the US Judge to turn over customer information to the IRS.
This is expected despite the KuCoin exchange never requested KYC for some tier because it's like many other centralized cryptocurrency exchanges, and they must requests KYC verification when it time.
Offline
oba;16969 wrote:Read a user post on this forum some days ago about Kucoin Exchange being one of the Centralized Exchanges that provide some no-KYC services for their user.
Shocking news was posted some hours ago saying the exchange (KuCoin) planning to request KYC from all their users. On the other hand, Kraken was ordered by the US Judge to turn over customer information to the IRS.This is expected despite the KuCoin exchange never requested KYC for some tier because it's like many other centralized cryptocurrency exchanges, and they must requests KYC verification when it time.
Centralised exchange has it own advantage and we also how effective and safer the DEX is as well. Are you guys still using Binance exchange?
Offline
Well if this question was directed to me then I would say no, I am not using centralized exchange but I believe there are people doing so .
People cannot stop using centralized exchanges, centralized exchanges are even more used and popular than decentralized exchanges. I use Crypton exchange now which is decentralized for most of the things i do, and i am enjoying using it.
Offline
It is important to understand that you cannot find a cryptocurrency exchange with 100% immunity against hacks and fraud. However, some cam be very secure like Crypton.
Offline
It is important to understand that you cannot find a cryptocurrency exchange with 100% immunity against hacks and fraud. However, some cam be very secure like Crypton.
Thats actually the big differences between Crypton and other coin. The Utopia p2p ecosystem team built a wall around the system to resist every scam and fraudulent attack.
Offline
oba;16969 wrote:Read a user post on this forum some days ago about Kucoin Exchange being one of the Centralized Exchanges that provide some no-KYC services for their user.
Shocking news was posted some hours ago saying the exchange (KuCoin) planning to request KYC from all their users. On the other hand, Kraken was ordered by the US Judge to turn over customer information to the IRS.This is expected despite the KuCoin exchange never requested KYC for some tier because it's like many other centralized cryptocurrency exchanges, and they must requests KYC verification when it time.
The lies goverment use to tell them is that KYC procedures help CEX adhere to the legal and regulatory requirements of the jurisdictions they operate in.
Offline
Vastextension;17202 wrote:oba;16969 wrote:Read a user post on this forum some days ago about Kucoin Exchange being one of the Centralized Exchanges that provide some no-KYC services for their user.
Shocking news was posted some hours ago saying the exchange (KuCoin) planning to request KYC from all their users. On the other hand, Kraken was ordered by the US Judge to turn over customer information to the IRS.This is expected despite the KuCoin exchange never requested KYC for some tier because it's like many other centralized cryptocurrency exchanges, and they must requests KYC verification when it time.
The lies goverment use to tell them is that KYC procedures help CEX adhere to the legal and regulatory requirements of the jurisdictions they operate in.
Many countries have implemented AML (Anti-Money Laundering) and CTF (Counter-Terrorist Financing) regulations that require financial institutions, including cryptocurrency exchanges, to verify the identities of their users.
Offline
level;17356 wrote:Vastextension;17202 wrote:This is expected despite the KuCoin exchange never requested KYC for some tier because it's like many other centralized cryptocurrency exchanges, and they must requests KYC verification when it time.
The lies goverment use to tell them is that KYC procedures help CEX adhere to the legal and regulatory requirements of the jurisdictions they operate in.
Many countries have implemented AML (Anti-Money Laundering) and CTF (Counter-Terrorist Financing) regulations that require financial institutions, including cryptocurrency exchanges, to verify the identities of their users.
KYC verification may helps exchange mitigate risks related to identity theft, account hacking, money laundering, and other fraudulent activities.
Offline
joanna;17357 wrote:level;17356 wrote:The lies goverment use to tell them is that KYC procedures help CEX adhere to the legal and regulatory requirements of the jurisdictions they operate in.
Many countries have implemented AML (Anti-Money Laundering) and CTF (Counter-Terrorist Financing) regulations that require financial institutions, including cryptocurrency exchanges, to verify the identities of their users.
KYC verification may helps exchange mitigate risks related to identity theft, account hacking, money laundering, and other fraudulent activities.
Yes, since. By verifying user identities, the exchange can ensure that accounts are not being misused or accessed by unauthorized individuals.
Offline
full;17359 wrote:joanna;17357 wrote:Many countries have implemented AML (Anti-Money Laundering) and CTF (Counter-Terrorist Financing) regulations that require financial institutions, including cryptocurrency exchanges, to verify the identities of their users.
KYC verification may helps exchange mitigate risks related to identity theft, account hacking, money laundering, and other fraudulent activities.
Yes, since. By verifying user identities, the exchange can ensure that accounts are not being misused or accessed by unauthorized individuals.
By implementing KYC procedures since KuCoin is CEX. They demonstrates a commitment to maintaining a secure and compliant trading environment.
Offline
IyaJJJ;17360 wrote:full;17359 wrote:KYC verification may helps exchange mitigate risks related to identity theft, account hacking, money laundering, and other fraudulent activities.
Yes, since. By verifying user identities, the exchange can ensure that accounts are not being misused or accessed by unauthorized individuals.
By implementing KYC procedures since KuCoin is CEX. They demonstrates a commitment to maintaining a secure and compliant trading environment.
This can enhance user trust and attract more users who prioritize security and regulatory compliance but it also come with a flaws.
Offline
thrive;17363 wrote:IyaJJJ;17360 wrote:Yes, since. By verifying user identities, the exchange can ensure that accounts are not being misused or accessed by unauthorized individuals.
By implementing KYC procedures since KuCoin is CEX. They demonstrates a commitment to maintaining a secure and compliant trading environment.
This can enhance user trust and attract more users who prioritize security and regulatory compliance but it also come with a flaws.
It's worth noting that KYC procedures vary among exchanges, and each exchange may have its own specific requirements and verification tiers.
Offline
level;17365 wrote:thrive;17363 wrote:By implementing KYC procedures since KuCoin is CEX. They demonstrates a commitment to maintaining a secure and compliant trading environment.
This can enhance user trust and attract more users who prioritize security and regulatory compliance but it also come with a flaws.
It's worth noting that KYC procedures vary among exchanges, and each exchange may have its own specific requirements and verification tiers.
Users should review the terms and conditions of exchanges before registering to understand their specific KYC policies and the benefits associated with completing the verification process.
Offline