Post
Topic
Board Exchanges
Re: Should I trust no-kyc promise of basefex?
by
harizen
on 11/12/2019, 19:00:21 UTC
I know it's the volume is nothing comparable to deribit or bybit but I really long for an exchange that will never force me to act like a prisoner.

In other words, you are fine undergoing KYC but in a smooth way and not to the point that they will force you to give everything. Then consider using other exchanges with a smooth process of KYC verification.

There is no assurance that the platform you have mention can maintain their no-KYC policy "forever". Remember that even big or small volume exchange today implemented KYC. Even the majority of the exchanges don't want to implement KYC, how can they operate freely if they are under pressure by the authorities?

But why should we play on small exchanges just for their no-KYC feature if we can play the game on much reputable exchange where can I say that we can risk undergoing KYC? I know we have issues about identity theft but top exchanges can't operate legally without these. We do hate KYC, even I, but today there is nothing we can do about it or just stick with the idea of using decentralized exchange.