Quote from: martina14 on December 09, 2021, 04:38:03 AM

Quote from: Turbolantern on December 06, 2021, 06:22:21 AM

I get that it goes against the fundamentals of crypto currency, but exactly for what reasons though? Assuming you're not using it for anything illegal (if you are then it's understandable), why the concern? I'm asking specifically when trading.

There are some exchange especially new to this industry of crypto space, they are giving free amount of dollar$ like 5$ but for them to receive this amount they need to submit KYC first before anything else. But for me this type of style is not a good things to me because this is obviously there are hidden agenda for it where the information could be steal then in the future the platform could be down instantly.

I do not want to risk my personal information being sent to the new exchanges because I do not know how good they are and even if there is a $5 or so for the bonus of verifying the account, that will not make me tempted to verify. I already verified my account on the exchanges and I think that is okay for me because they have their reputation and can manage their member's data. We need to be selective if we want to send our identification to a third party and make sure they are good enough to take care of the data. However, we need to understand that there are not 100% safe on the internet, so you need to choose for yourself.