Quote from: ChuckBuck on May 18, 2021, 08:01:37 PM

Some people will go through the verification steps as soon as they create an account on an exchange, I think it's a habit.

Any centralized exchange can lock your account and demand KYC at any time. If you don't care about completing KYC, then you might as well just do it to prevent your account being locked in the future.

Quote from: Ceyflix-Rez on Today at 07:11:45 AM

Data breach can happen anywhere in this world online or offline it doesn't matter so living this life is already a risk

Every time you get in a car you take a risk. Doesn't mean you should drive with your eyes closed.

Quote from: Ceyflix-Rez on Today at 07:11:45 AM

and if data breach happens I don't care

You won't be saying that when your identity is stolen and you end up on the hook for $50,000 in debt and credit cards you didn't open. You won't be saying that when someone links your identity to being an active bitcoin trader and shows up at your house to steal your bitcoin. KYC is always a risk.

Quote from: Welsh on Today at 07:20:07 AM

but a proper exchange or any service for that matter should be storing this kind of information off the server, rather than live.

We know that that doesn't happen though. Not only do they store your information online, but they send it over the internet to third parties for verification, processing, storage, etc. You have absolutely no idea where your information ends up and who has access to it after you complete KYC.

Quote from: FloridaKid on Today at 08:45:27 AM

you can only escape KYC verification if you don't need Fiat

Not correct. I have never completed KYC and I trade between fiat and bitcoin regularly via peer to peer trades on platforms like Bisq.