Quote from: bounceback on December 09, 2021, 06:42:45 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.

So far, no exchange can guarantee 100% security of our identity, if we remember back in 2019 when Binannce exchange was hacked and hackers managed to collect information about users' personal data and they threatened Binannce CEO to pay ransom, otherwise they will leak the identity of its users, this is the reason I am afraid to KYC on the exchange.

Kyc (Know Your Consumer) just an identity process in take part in ico and sto process in cryptocurrencies but some people refusing kyc because they don't focus themselves on the government taxes. In the exchanges ,kyc just a phenomenal because Binance, bitmart, Kucoin centralized exchanges already hacked but all are kyc verified exchanges...