Privacy is important when it comes to Cryptocurrency, so why do exchanges like Bitget require KYC (Know Your Customer) for all users, even those who only want to get airdrops? I thought KYC should be for those transacting many Bitcoins, Is it really necessary for everyone?
KYC can be used to recover lost or forgotten passwords on platforms like Bitget. This is because the information collected during KYC can be used to verify the user's identity and confirm that they are the account's rightful owner.