Bitcoin Problem With Mandatory KYC, Next Right Exchange?

Are Coinx or other exchanges suitable for replacement due to the acute problem of Kocoin? The news of Kocoin shocked the crypto market, especially in Iran.

Few people thought that Kocoin would suffer the fate of Binance and other exchanges. If you are also a investor and trader of Kocoin and you intend to transfer capital from this platform, I suggest you stay with us until the end of the article.

Mandatory condition of authentication in Kokoin

Kocoin has specified new conditions for its users, during which after July 15, no one can enter a new amount to the Kocoin exchange without authentication.

After hearing this news, many people were worried whether it will be possible to harvest after July 24th or June 15th. Fortunately, it is possible to withdraw, but it is not possible to transfer new funds.

You can also trade with the capital inside the exchange in the spot market. The new conditions of Kocoin shocked many investors, including Iranians.

This is because many do not have authentication conditions and some do not want to do such a thing for personal reasons.

What problem does Kocoin (KYC) cause for Iranian users?

With its new conditions, the KYC exchange practically closed the way for Iranian users living in Iran. The documents of Iranians are not approved due to the problems of sanctions for authentication and it is very risky.

In such a situation, there is no way but for these users to move from the KuCoin exchange to another exchange. The main problem with the new conditions of Kocoin exchange are Iranian users and people who do not have the ability to authenticate themselves in this exchange.

What should we do to transfer capital and replace the exchange from Kocoin?

To transfer, you should think of a new exchange with good conditions. In the new choice, conditions must be taken into account that will not lead us to the fate of the Kokoin exchange.

Our new exchange should leave users’ hands open for authentication. There are limited exchanges that do such work. This means that users are not forced to authenticate.

These conditions are freely compatible with blockchain philosophy and on the other hand, it prepares the exchange environment to attract more users.

Also, the new exchange must establish deep relationships with Iranian users and other embargoed countries so that they feel safe from investing.

Is Quinx a good alternative to Kocoin?

According to research, Coinx is a reliable and long-established exchange. Until today, he has organized many events inside Iran, which tells about his good relations with Iranian users.

On the other hand, this exchange has specified free terms for user authentication. In this exchange, you do not need mandatory authentication to make your transactions.

At the same time, your security is guaranteed, you can trade without authentication in Quinx.

Conclusion

Kocoin shocked many of its long-time users. A large part of Kocoin users are Iranians.

According to the new conditions, they should look for a new platform to continue their activities.

CoinEx is one of the best options to transfer from KuCoin. In this exchange, you are not facing authentication restrictions.