Quote from: The Pharmacist on November 24, 2019, 12:39:20 PM

It's not a bad thing at all--there are plenty of people who just want to buy bitcoin as an investment and keep track of everything in order to pay taxes and so forth. In those cases, they're not likely to care about KYC procedures. You can't buy stocks without going through a broker, and all of them require KYC, as do banks if you want so much as a checking account. It's not a big deal IMO.

except that binance is a dodgy crypto exchange known for flouting regulations. how do we even know they comply with data protection laws? they hop from jurisdiction to jurisdiction. their "headquarters" in malta is basically a front and i suspect it won't be there much longer.

they've already been hacked for customer KYC data, which isn't a strong vote of confidence.

Quote from: The Pharmacist on November 24, 2019, 12:39:20 PM

You could ask the same question about Coinbase, by the way. They've always required KYC documents as far as I know, and nobody has really complained about that.

coinbase gives me 10x the daily withdrawal limit without requiring SSN or proof of address. it also has superior liquidity. the choice is obvious for me, even with binance having significantly cheaper commissions.