Shapeshift Moves to Membership Model Requiring User Information!
I think crypto services are being forced to move to such models.
Another one bites the dust... I think crypto services are being forced to move to such models.
Why do you think so? They will lose some of their market share in the short term, however, I think they will thrive in the long term. The recent trend is crypto seems to be shifting towards KYC and lots of it. Most Asian exchanges demand them and Coinbase is doing very well regardless.
Bisq is indeed a good alternative for a plce to swap coins without vertification, but note that to use the platform you'll need to have a computer that runs Windows, Mac or Linux. There is an app on both the Google and Apple app stores for Bisq, but they're just for notifications. Binance has also worked flawlessly for me with very few issues. The limits without verification for me aren't too much of a problem, though you do get enhanced limits for withdrawal, etc if you do choose to verify yourself.
There is an issue of trust when using anonymous exchanges. I wouldn't trust these services with a high amount of coins. They could exit scam at any moment, or change policies after receiving deposits then request kyc.
Kyc is almost normal these days in financial services. Cryptocurrencies will go the same way and the process has already started. It won't be long before it becomes the norm.
How long do you think Binance will hold out for before making it mandatory? I don't think they will for long.