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.
STEX Exchange requires KYC
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- Last Post 13 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.
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.
I am going to consider signing up for KYC and paying for the service. If I do this, I'll post the cost here.
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.
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 https://coinswitch.co/ so that we don't have to give out our data to every exchange we wish to use.