No KYC is often labeled as “money laundering,” but I believe that is very far from the truth. No KYC means that you can rest easy that FreeBitcoins.com isn’t going to lose your data in a hack or sell your data in a deal to people you don’t know. We can’t do anything with something we don’t have.
You can withdraw your cryptocurrency, but you can never withdraw your private information after giving it out.
KYC is an integral part of money, and I believe it likely should be at that door of finance. FreeBitcoins exchange deals strictly with Bitcoin and other alternative cryptocurrencies… these “coins” can NOT be considered money for the sake of the general public safety. Imagine if you took a loan for a home in 2015 for Bitcoin? That can’t be money. Bitcoin and crypto serve a different purpose than “money”.
These internet coins are not mature enough for a mature market that handles personal information within the banking scope. The coins themselves are built with security in mind and are easy to navigate securely. The complex side is meeting someone safely to trade. Good security is as good for a bad guy as it is for a good guy. There are many scammers in Cryptocurrency because of the irreversible properties of crypto. That is where FreeBitcoins helps everyone involved in Cryptocurrency and allows two traders to meet on our site safely. Banks need to continue to do their job successfully, which we believe that they do and we will focus on doing our job successfully.
Unfortunately, this means that FreeBitcoins does not have any markets in any country’s fiats or any markets that mimic fiats (stablecoins, tokens, etc.). Users are welcome to withdraw their Cryptocurrency from FreeBitcoins at any point to an exchange that is willing to trade those markets!
You can rest easy if you use FreeBitcoins.com that your information will not be sold or hacked using our service.