Quote from: omer-jamal on January 04, 2019, 09:49:56 PM

I noticed Strange thing Some or most of the exchanges (require KYC to withdraw) - This is no problem

But Allow users to Deposit Even if they are not Complete KYC (in exchange require KYC) - Here the problem

after that exchange do not allow withdraw Their money !!

why this ?!

Why they allow them to deposit before Complete KYC

They say we follow the law Does the law recommend doing so? Something weird!

Often exchanges hide KYC paragraph (in Privacy Policy or Usage Policy) Or users do not know Only when They want withdraw!!

what I think from like this exchanges They want Attract Volume Without regard to the interest of users

I hope the post on the right place if not Please Tell me right place
Sorry if the translation Incorrect !

You're absolutely right, and it's great that you're bringing this topic up because I think it's definitely been underdiscussed.

Not only are there exchanges that ask you for KYC information only when you withdraw, there are also sportsbooks, casinos, and hosted wallets that do the same thing. A remember that a recent case is with Changenow.io, with them asking for identification on a customer that actually had quite a large transaction with them even though they used to advertise themselves as anonymous.

None of them will ever ask you to offer verification documents before you want to get funds out of their platform.

IMHO, these sites are completely untrustworthy and unprofessional, and should be avoided even if you are willing to provide them. It seems like a blatant excuse to hold funds in the name of KYC. A lot of the times, they aren't even legally obligated to do this, even though they argue this way.

If you want to implement KYC, do so before any deposits can be made. Don't do it after.