Quote from: Potato Chips on July 08, 2025, 06:51:26 PM

Quote from: mich on July 08, 2025, 06:18:33 AM

Well I do only use 2 exchanges for my crypto they are Binance and Coinbase. For both of those I did do the kyc but I think it is only a level 1 kyc.

I do not worry so much about things like this. They are both real companies and will not steal my coins or sell my information. If they do ask me for more information I do not think I will have a issue to give them what they ask of me.

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.

Well for me the exchanges made me do the kyc and that only did take less then a day. And yes it was only some little information nothing so personal.

If the exchanges would ask me for more verification then I will trade my coins on a other exchange. I do not want them to make a reason to take my coins or ask for more verification.