They started as a no KYC option and users were happy to pay 1% for that (on top of vendors rate). Forced KYC is what ruined them. Why pay such high fees when you can go on Binance and pay less?
Can someone please answer me this? I run a P2P crypto exchange built on the Localbitcoins model. We do KYC because its a way to prevent scammers from making multiple accounts.
How do you stop scamming without KYC? How can users be safe without KYC?