STEX Exchange requires KYC

  • Last Post 13 December 2019
Token Research posted this 10 December 2019

Wanted to create a separate topic simply to mention that STEX Exchange will require KYC by the end of this year. They sent emails out and it is on their website.

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btcwalletusa posted this 11 December 2019

Do you know the cost of the Cryptonomica KYC? It's not posted. It appears that we have to have a credit card ready, but they don't give an indication of the price. They don't charge the card until after we've given them all of our identification information. I suppose that if the cost is too high and we don't accept the price, they will just keep our identification information on file forever.

Token Research posted this 12 December 2019

I never heard of Cryptonomica until you mentioned it (but after logging into Stex and seeing it as an option, I probably did see it and forgot about it). I personally am not going to pay for KYC verification but like any other product, we are free to choose what to spend our money on.

If a product offers enough features that paying for it is useful, then by all means I hope they obtain customers.

To answer your question, I do not know the cost to sign up with Cryptonomica.

btcwalletusa posted this 12 December 2019

I am going to consider signing up for KYC and paying for the service. If I do this, I'll post the cost here.

btcwalletusa posted this 12 December 2019

I went through the Cryptonomica KYC verification process today. Although my verification is still processing, I have the costs for you. If you go through STEX to access Sryptonomica, there is a discount code provided. The cost without a discount code is EUR 96. With the discount code, the cost is 31.68 EUR, which is $35.31 in Dollars. 

Token Research posted this 13 December 2019

Cool, thanks for sharing. Appreciated.

If there is "difficulty" in selling SFX in the future and all the exchanges are KYC, I guess I'll have to consider KYC. But for now, seeing how I don't really know where the project is going and I don't trade on STEX at the moment, I'll hold off until absolutely necessary.

If SFX does take off, hopefully it gets big enough and listed on other marketplaces such as Coinswitch so that we don't have to give out our data to every exchange we wish to use.