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?
I get that our data could be hacked and be shared, and I am willing to take that risk. People think that KYC is just there for exchanges to comply with government requests and nothing more, which is very wrong.
KYC is there to protect you, in case someone tries to hack into your account, if you have KYC enabled that means you could provide proof that you are in fact you, whereas hackers won't be able to, because being able to hold a piece of paper that has that days date is not something they could replicate. Hence, having KYC, even with all the risks involved is still better for me and makes me feel a lot better about it in the long run.