Quote from: Charles-Tim on Today at 12:55:56 PM

So, I was just trying to make more points how Binance does require KYC while people are commenting like it does not require much verification which is completely wrong.

Ahh right. I misunderstood then, my apologies. I thought you were talking about all peer to peer trading in general, not just peer to peer trading on Binance. Binance is like LocalBitcoins when it comes to peer to peer - it may be P2P, but it is in no way decentralized, still hosted by their centralized platform, and you must still complete ridiculously invasive amounts of KYC and risk your money by storing your coins on their platforms. It is all the worst bits of centralized exchanges combined with all the worst bits of P2P trading, and I don't understand why people use them. If you are happy with giving up your coins and privacy, then just use a centralized exchange. If you aren't happy with that, then use a decentralized P2P exchange. These centralized P2P platforms just combined the worst aspects of both.

Although Binance say they do not require verification unless you trade over a certain limit, you can see endless reports on here, Reddit, Twitter, etc., of users who have had their accounts locked, coins frozen, and KYC demanded without coming close to those limits and with zero explanation from Binance for the reasoning behind this. All centralized exchanges like this have a bunch of completely arbitrary algorithms which they do not disclose. Trigger one of them without knowing (and how can you know, since they never tell you what they are), and your account gets locked.