At the end of the day, we can't be too sure. Not to mention, KYC verification can draaaag a lot and be a nightmare for some if exchanges detected a suspicious activity for instance which can just be a false positive. In addition, threats could come from the outside as well—hacks and data breach for instance.
These are risks, users have to bear.
Centralized exchanges are risky to use because of their centralization so that they can change policy anytime to satisfy governments. We know, governments want KYC and soon centralized exchanges will do KYC on users. It's only time matter before all centralized exchanges have KYC requirement as a mandatory condition to use their services.
Why KYC is extremely dangerous – and useless.Reminder: do not keep your money in online accounts.A series on Recent events should make everyone withdraw all their coins to their own wallets.
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