KYC Sucks: or why DeFi is the future.

I'm sure nearly everyone here has run into KYC at one point or another, it's annoying and a massive invasion of privacy. All it takes is one major exchange getting hacked and now millions of people have all their identity documents out on the internet.

Decentralised finance has been growing in popularity recently, and the annoyance of KYC is a major factor in that. Many people are fed up with KYC and are rightfully untrustworthy of it.

Decentralised exchanges are a crucial part of decentralised finance, with one such DEX being Bisq. Being decentralised, governments can't shut it down without substantially destroying part of the internet in the process.

Privacy coins such as Monero have also been growing in usage, such coins make tracing transactions impossible.

For those of you who want to avoid KYC whenever possible, here are a few services you can use.

For quickly swapping between cryptocurrencies, check out Godex, FlypMe, or MorphToken.

For a more traditional exchange, including Fiat, check out Bisq.

For more info, including services with no KYC, check out kycnot.me

I'd recommend trying to avoid KYC whenever possible, let exchanges and services know that they won't get business if they require KYC. This will push the growth of services that are resistant to government control.