Quote from: Wakate on September 09, 2023, 08:44:10 PM

Quote from: Altcoiner007 on September 05, 2023, 10:51:54 AM

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?

Honestly I almost thought bitget was a KYC free exchange until I discovered that you will need to do KYC before you can use the exchange to do anything you want even trading. This is not supposed to be so because I know there are some cex exchanges that don't make KYC compulsory at all except you want to increase the amount you can able to trader and receive funds. You can search the internet for other exchanges that don't make KYC compulsory which you can use in your region without any restrictions or need to use VPN.

There are not too many centralized exchanges that do not require KYC, as far as I know only Kucoin does not require KYC if you only trade small amounts. for larger amounts, you cannot use them without KYC. centralized exchanges all comply with the law to operate, so failure to KYC is very unlikely, it is a government regulation and no longer under their jurisdiction.

DEXs are an option for those who do not want to expose their privacy, but they are not as liquid nor as full-featured as CEXs. so up to now, DEXs are not the choice of many people.