Why always kyc mandatory?
What are they do with our information if we submit kyc?
I am new in Crypto industry so from 3 month i try to trade on Exchanges i mean Best exchanges like (Binance, KuCoin etc)
So when i try to withdraw big amount like more then 1k - 5k Dollars they asking for kyc so now i really Don't want submit kyc in any exchange.
Please suggest me some exchange where kyc is not needed at all.
Crypto created for no tracingso why kyc?
Is they Tracing us ?
Not really created "for no tracing" ... It should be possible to trace people who did really bad things. Transactions on proper blockchain are transparent and immutable. What is hidden is the identities of users who run full nodes and properly hide their identities.
But I agree that the current way of gathering customers unique personal data is not really a good way. A good approach would be to verify customers' identities once, on seperate ID platform (decentralized platform) then use that on multiple exchanges/platforms for authentication.