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?
For most centralized exchanges, KYC is mandatory for several reasons ranging from keeping the customer from engaging in fraudulent activities with their accounts to ensuring customers credibility. However my qualms with these Centralized exchanges is that they are honest with the customers. Being that our personal information which we submitted to them are not well secured. They may even go as far as selling off these data to a third party for profit. Our KYC documents is not as private as they have us think it is. And fruads are still being committed.