I have been wondering of people telling me exchanges can freeze accounts, that makes me very afraid to use exchanges to trade, a friend of mine told me hitbtc freezed his account. That makes me here to ask the reason why exchanges can freeze account.
Why are exchanges freezing accounts?
What can I do to make them not freeze my account?
What are the best exchanges to use?
I like no kyc exchanges, please do not advice me to use any kyc exchange. I prefer exchanges that do not demand for kyc or the ones that makes kyc not mandatory?
Almost you need to pass KYC to use centralized exchanges and it is the only way if you want to trade your cryptos for fiat and vice versa.For trading cryptos there are decentralized exchanges where the trading volume is really low compared to the centralized exchanges and also fee could be a lot.
So if you want to be a trader then you should be ready to do KYC at any time.And the reason for freezing accounts on exchanges are like receiving funds from blacklisted addresses, or what they doubt you involved in any shady activity or money laundering.