Post
Topic
Board Beginners & Help
Merits 1 from 1 user
Re: About my safety on exchange
by
o_e_l_e_o
on 01/09/2022, 07:51:22 UTC
⭐ Merited by Solosanz (1)
You can still do transactions and withdrawals although you are not doing KYC verification, but it will limit you to only 5BTC maximum in a day. If this is enough, I think it is enough for you.
As I pointed out earlier in this thread, you should only use a non-KYC account on KuCoin if you would be happy to complete KYC if you needed to to get back all the coins you are storing on their exchange, or alternatively happy to simply abandon all the coins you are storing on their exchange. Every centralized exchange which offers non-KYC accounts has the ability to demand KYC from any user at any time, and will lock your account and seize your coins unless you comply. If you don't comply, your coins are lost.

So yes, you can use KuCoin without KYC, but you are at constant risk of either having to complete KYC or losing everything you have on your account.

Far better to use DEXs which never request KYC and do not have the ability to seize your coins.