Post
Topic
Board Bitcoin Discussion
Re: Buying BTC from KYC exchange
by
AicecreaME
on 26/07/2021, 12:28:00 UTC
Up until now, I thought the only way to convert fiat to BTC is through KYC exchanges. It seems like there are alternatives such as Bysk. Did I shoot myself in the foot by purchasing through KYC exchanges? 

I totally see nothing wrong in purchasing bitcoin thru platforms that require KYC. As a matter of fact, KYC makes me more secure and at peace that my transactions will be done safely because they provide higher level of security against hackers attack. KYC is asked by exchangers for a reason. And that reason is to guarantee the users that their funds are on a safe place. I bet you've done several transactions using KYC exchangers before, so why bother now?

If you are thinking of trying different exchanger that do not require KYC, it's still up to you. But make sure to always be on your guard because maybe instead of saving up some bucks on processing and transaction fee, you'll lose even more by trying to be frugal.