Quote from: AakZaki on Today at 05:41:23 AM

Quote from: lablab03 on July 25, 2021, 03:30:13 AM

Totally not safe to trust with exchange that requires KYC, if your purpose only is to have a secured account, because that's not important anymore right now as long as you are buying through trusted exchanges.
~snip~

It's a shame if you think like this. I slightly disagree with you. Indeed, there are several cases that have made some data on KYC spread to irresponsible people. But I think not all even exchange though. They do KYC because it is a procedure. If we don't want KYC then don't register. Even at the bank you have also submitted paper documents, that also includes KYC. They seek security for the continuity of their business, so they must know our data, with guaranteed confidentiality. It's a shame some exchanges don't have KYC but have a smaller limit when withdrawing money.

Of course they do and to a certain degree that is ok, but there is a difference between providing your documents to JP Morgan Chase or Yobit. Cheesy

The former may lose your data, too, but at least you can have some feeling of security that they don't gather your documentation for malicious intent. A lot of exchanges do that, not talking about Binance here as I deem them trustworthy.