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So, what are your thoughts on exchanges with and without KYC? Do you prefer exchanges with strict KYC requirements, or do you value anonymity and privacy more and prefer to use exchanges with little to no verification process? What are the disadvantages and advantages of each approach? And what measures do you take to ensure your anonymity when exchanging cryptocurrencies?
With the birth of decentralized exchanges (DEX) now, it's now very easy to trade without even signing up for some exchanges.
But there are some people who prefer using centralized exchanges and are not comfortable using decentralized exchanges.
About KYC, seems this is becoming normalized for some people, but to be honest, I really find it annoying and am afraid to trust my personal identities for some people, it's invading my private data.
well, if you are doing p2p trading to convert your crypto directly to fiat, you will use top exchanges like binance. and binance has kyc requirements. i would rather undergo the binance's kyc requirements rather than trust a third party site where you have no idea if you can ever get your money safely. so in this case, it depends on the person himself about his preferences. sure there are pros and cons in both types of trading platforms, anonymous and with kyc requirements. but you need to weigh the possibility of getting out your funds safely.