Quote from: 19Nov16 on Today at 04:45:30 AM

Quote from: brainactive on July 25, 2021, 02:51:18 AM

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 think KYC is a good thing, so I always do KYC on every exchange, crypto is an asset and without KYC it will be difficult to recover assets if a problem occurs, I'm sure an exchange that implements KYC will not sell our data unless it gets hacked.

But we need to select the recommended exchange to do KYC and not doing KYC in all exchanges.
That will be risky because we do not know what will happen to us if we are doing KYC in exchanges that will not have reputations.
But that will be back to personal because when we can feel comfortable to trade in one or two exchanges, we can doing KYC without any hesitations and will not have a problem by sending our document to them.
If someone does not feel comfortable sending the document to the exchange, he can search for the exchange that does not need KYC to reduce his risk of getting scam by the exchange.