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?
The reason for making KYC mandatory is to prevent activities like money laundering. Because his kyc document will be given there. Whether or not to use a platform is entirely a personal matter for an individual. If you don't want to do kyc you can use DEX instead of CEX where no kyc is required. But if you are using CEX then you need to complete kyc as it falls within their terms & conditions. And to use their service must follow their terms & conditions
There are many reasons why KYC is mandatory on centralized exchanges and is mostly because of the government interest on certain matters. Apart from the government too, the exchange need to be prepared for the worse in case something happens that need to very the identities of users mostly when something like scam and hacks happen.
Know your customers help centralized exchange to check in on who there customers are and how they make transactions whether it involves money laundry or not. The centralized exchanges are mostly government influenced.