Ref: Polo KYC, I just looked at verification and for up to $2000 equivalent/ day, for 'level 1' - all they want is a name and a country.
No verification of name required, no ID requested - so you could even give a false one, it seems.
With your email addy known already - you are effectively traceable to that extent by TPTB anyway.
For most people it's not that scary.
Don't get me wrong, I am concerned about my privacy, but it's not passport and proof of addy until pretty serious amounts - probably way more than you should have on an exchange anyway.
One caution
Poloniex aims to reasonably identify each user by cross-checking user data against governmental watch lists such as OFAC, as well as 3rd party identity verification and authentication services. If a user or a user’s transaction is flagged as suspicious through our internal controls, Poloniex will require additional proof of identification from the user and has the right to not permit any trades, deposits, and/or withdrawals until additional and verifiable proof of identity is received and the Compliance Officer has approved the user for use of the Platform.
In other words, if you do business there you are at risk of having your coins held ransom for whatever "additional proof" they want, and also possibly the discretion of their Compliance Officer before giving them back.
Yes, Smooth - maybe it is naive, but really... with a 'legit' exchange, it's probably also naive to assume they can go on without KYC forever...
I don't like it, but Polo can't fight it, realistically.
I agree. I was just pointing out that important condition so people are aware of the risk. Again, if you put your coins there, they can be held hostage for whatever "proof of identification" they deem necessary, at any time, with no notice, regardless of amount. The 2000 USD, etc. thresholds specify the minimum amount of documentation they require, not the maximum.
My take on this is that I have zero interest in giving my identity documents to any of the current crypto exchanges or other crypto businesses, and I have never done so, nor do I plan to. Not because I have anything to hide (all of my activities are entirely legal, and my identity isn't even that secret anyway), but because I simply
don't trust them to safeguard it. Look at how many have been hacked, have had data breaches, rogue employees, etc. If I put coins there I'm aware I may have to forfeit them, so I act accordingly, mostly by exposure limits. Which is needed anyway given the risk of being hacked or "hacked".
