Re: Why KYC is extremely dangerous

A BIG WARNING here! STAY AWAY from Binance Free Accounts! At some points, they will freeze your assets and force you to provide KYC. THis happened to me! This Exchange is not serious at all!

If you are not doing anything suspicious, your account should not trigger risk management, because when it does, it will definitely freeze your account, I've been using it all this while and got no issues with them, if you are into any suspicious activity stay away from Binance.

Binance may be a very reliable site for exchanging there's no fear of being scammed albeit you are doing KYC here. Allows you to secure your own funds However, within the case of other sites got to work well verified.

The KYC are not safe not even at the Binance site. I know that Binance will never misuse or sell your KYC but you know that exchanges do get hacked and binance was also hacked couple of times. So if the hackers get the access of your KYC stored in the binance servers, they may sell it in the black market or misue them. But most of us don't have any option if we want to trade at binance and other sites we have to submit for KYCs.