Quote from: BitHodler on November 15, 2018, 12:40:47 AM

True, but that's directly the main obstacle for most noobs. Reputable exchanges generally have strict KYC/AML policies in place, and they are firm on not listing utter garbage coins.

Binance allows deposits, trading and withdrawals of up to 2 BTC per 24 hour period without any KYC. KYC is only required if you want to withdrawal more than 2 BTC per day. Given that, there is literally no good reason to use some unknown exchange that is infinitely more likely to scam you.

Quote from: BitHodler on November 15, 2018, 12:40:47 AM

They are here for a sweet payday, but all they get is a very expensive booty smacking treatment.

Yup. They chase crazy gains from ICOs or some unknown coin on some unknown exchange, but at best they will just lose their money, and at worst, end up sending their documents to some complete scammer and have their identity stolen.