Post
Topic
Board Legal
Re: about exchanges kyc withdraw!
by
Mahanton
on 23/04/2019, 20:29:28 UTC
I guess they just couldn't care less about money coming, only coming out. So basically, if you put in $10k in a transaction without reading the KYC requirements stuff, you are now in big trouble as you have $10k trapped in the exchange. The ball is in your court so you have to solve the problem yourself, by delivering all the KYC information needed. If you can't deliver that, then it's your fault because you didn't read the KYC requirements, unfortunately this means that they get to keep the money. I wonder how much money they are banking through this. Basically people putting money in then unable to remove it because they refuse to comply with KYC.
When using up any services online specially with exchanges then its always important to have a look on their terms and conditions even on gambling sites too or any other sites because if you don't much pay attention
to these simply or basic informations need to be read up then you would be definitely fucked up in the end but somehow there are exchangers which doesn't need any KYC on having some big withdrawals on daily basis.Just take a look on Binance where giving out 2btc daily withdrawals for unverified accounts which is great.

Terms does not play here in your exchange account you could check what is the minimum withdrawal for non KYC verified account. Even on Binance there are similar rules and trade limit also there for such account.
When you go to verify the account also you can find personal and corporate account which have the big limits for the bigger account.
Yes, I'm fully aware on that one where upgrades would really require that KYC stuff but the good thing where it is optional and hence 2 btc daily limit withdrawal is just sufficient with most traders I believe unless if your a whale or big time trader then these limits wont really be enough.Therefore, you would end up on complying those KYC stuff.