KYC on Exchanges

[nomad]

In order to use an Exchange, you will have to do KYC. That's because Exchanges are financial companies and financial companies are required to know their customers. Some Exchanges also allow you to do certain kinds of transactions, for instance sending and receiving, without having to do KYC but most of the exchanges have mandatory requirements of KYC. Interestingly, KYC on some exchanges is really difficult. Do you have any bad experienced related to KYC?

 

[Smalto]

In order to use an Exchange, you will have to do KYC. That's because Exchanges are financial companies and financial companies are required to know their customers. Some Exchanges also allow you to do certain kinds of transactions, for instance sending and receiving, without having to do KYC but most of the exchanges have mandatory requirements of KYC. Interestingly, KYC on some exchanges is really difficult. Do you have any bad experienced related to KYC?

For some exchanges, the kyc is mostly the challenge, as it takes multiple attempts for a user to successfully carry out his or her kyc without any hassles, especially bybit, they have issues with proper verification of users details, I hope they resolve that pretty soon

 

[Stardom22]

The KYC verification is much difficult with some exchanges. Frankly speaking I almost gave up in the identity verification on the Binace exchange especially on that what they call face verification. It's very tedious and embarrassing.

 

[nomad]

For some exchanges, the kyc is mostly the challenge, as it takes multiple attempts for a user to successfully carry out his or her kyc without any hassles, especially bybit, they have issues with proper verification of users details, I hope they resolve that pretty soon

Yes, some exchange platforms pose a lot of complications for KYC verification. I have verified my account on Binance, however, when I used the same documents to verify my uphold account, they were not accepted.

 

[Suba]

At first almost all crypto exchanges did not require kyc, but due to government pressure, in order for crypto exchanges to operate, crypto exchanges implemented kyc, not only that currently most crypto wallets also implement kyc.

 

[Etini Willie]

The only exchange that I have done KYC with is Binance and I have to say it was a seamless process. It took me just a matter of minutes for them to notify me that my verification is successful.

 

[Blessed19]

In order to use an Exchange, you will have to do KYC. That's because Exchanges are financial companies and financial companies are required to know their customers. Some Exchanges also allow you to do certain kinds of transactions, for instance sending and receiving, without having to do KYC but most of the exchanges have mandatory requirements of KYC. Interestingly, KYC on some exchanges is really difficult. Do you have any bad experienced related to KYC?

I have had some bad times when it comes to having my kyc done on some exchanges as it keeps on delaying and some times it does not even process to the next level at all which is annoying and frustrating to me as I really do need to make it happen to start earning on the exchanges.

 

[Niyi Briggs]

I think it is a security measure taken by KYCs in case there are serious issues in future that may warrant tracing the identity of persons. I believe our data are safe with trusted exchanges.

 

[Golden9]

Some exchanges allow users to transact and move small amounts of funds without KYC. It would be best to do the KYC though to avoid any complications later.

 

[riberet19]

I have never really had a bad experience with the KYC process or generally I do not mind passing a KYC, but it is true that sometimes to save time i try to avoid this process especially in the last ones I have registered have been exchange without KYC as Bitget.

 

[Bisolami]

The KYC verification is much difficult with some exchanges. Frankly speaking I almost gave up in the identity verification on the Binace exchange especially on that what they call face verification. It's very tedious and embarrassing.

Honestly, this was why I could not use Kucoin till now even though I already have some money inside of it. I could not do the KYC registration and it got me frustrated so I just had to leave it

 

[Rubz]

It is true that KYC is really difficult on some exchanges. I would not call the experience i have related to KYC a bad one but it was really stressful and frustrating at that time.

 

[King Belieal]

Up till now, I have not been able to complete KYC on ByBit. I don't know what is so peculiar about the KYC on ByBit.

 

[IB D]

I would love to do my KYC on Binance but I have not gotten my documents all ready. Would do that shortly. I feel KYC is a good thing on exchanges.

 

[eldavis]

So far things has been pretty smooth when it comes to doing my KYC on any platform.