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#Crypto #Cryptocurrency #BasicCryptonomics #Bitcoin
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Episode Transcript
[00:00:00] Speaker A: Out of cycle update.
For those of you out there that run and duck email, you don't like email. You're so stuck in the text messages and the cell phones and the automobile what's it's, and you've run away from the beauty that is email. You probably didn't get the message that MExC, the exchange mexc.com recently sent out that essentially is asking you to KYC because they think that you haven't KyC'd yet.
[00:00:23] Speaker B: If you have KYC, you may or.
[00:00:25] Speaker A: May not get this message. I suspect they sent it to everybody. This is a theory. I can't say for sure because I can't see your box. Regardless, it implies that you need to do KYC, at least at the basic level. So they have primary and they have advanced, and then they allow non KYC for bare basic trades. Primary increases the withdrawal limit. Advanced increases the withdrawal limit. Primary asks for basic information.
[00:00:47] Speaker B: Advanced asks for facial recognition.
[00:00:49] Speaker A: They're saying you need to do at.
[00:00:50] Speaker B: Least one of these kycs before June 30, 2024.
[00:00:54] Speaker A: Otherwise your account will be liquidated effectively. So you'll be able to withdraw tokens. Well, let's say you have open futures or other trades.
[00:01:01] Speaker B: What they're saying is that those are going to be liquidated if you don't do it.
[00:01:04] Speaker A: Now, I went to the site mexc.com specifically because when I looked at the email, I thought maybe it's some sort of a scammer. Maybe it's a, you know, hacker or.
[00:01:12] Speaker B: Something where it's not a legitimate email. There's usually in those you're going to see like a button or a link.
[00:01:17] Speaker A: That tells you, hey, log in now, or whatever.
[00:01:20] Speaker B: There's nothing of that sort here. It's just the information and the date, usually that indicates it's legitimate because it's forcing you to go to the main site and actually log in to take the action. And it's not like it's asking you to log in off the email. So that gave me some confidence. This may be legitimate, but I went to the site. I was looking for a news article or some other confirmation of what this.
[00:01:40] Speaker A: Was communicating, and it's nowhere on the site.
[00:01:42] Speaker B: So the problem is because they're overseas, I think they're out of Singapore because they're overseas. They just may be incompetent. They don't understand how to get their website up to date with all these information pieces so that you can verify what you're being told. Maybe they're just stupid. Okay, but the email looks legitimate, far as I can tell. I don't see there's any problem. And they do have that banner when you first go to the site that says, hey, you're in a jurisdiction, whatever.
[00:02:04] Speaker A: And so maybe they're just trying to.
[00:02:05] Speaker B: Tie up the loose ends. And as we get closer to June, you'll start seeing more communique around this issue. My call to action to you. I can't confirm that the email is or isn't legitimate. I don't see any reason to think that it's not legitimate. And I would recommend, if you have not done so already, if you plan to stay in Mexie, you might consider just doing the primary KYC, which is not that bad, just to make it go away and kind of COVID your ass. Make sure you're not clicking on sketchy links. Just go straight to the site mexie.com.
[00:02:35] Speaker A: Purposely log in there to make sure you're not getting, you know, scammed or something. Once you log in, go to identification. Under there, you have the KYC options. And again, I would recommend at least doing the primary. The withdrawal limits are extreme. I don't think anybody on regular trader would use either one of those. So I would just stick with the primary for now and just let time pass. It can't really hurt anything. And then most importantly, I would recommend you don't leave your cryptocurrency inside of an exchange for any reason. But that's up to you if you're a gambler. My whole thing is I don't want to see you get your tokens took, you know, jack move. I don't want to see that happen to you. If they plan to do something in the near future, they've already had liquidity issues. There's already the Kucoin stuff happening. There's a lot of shifts and things. And I'm bringing this up to the front because, again, a lot of people have abandoned email, and I really wish you didn't because email is beautiful and amazing. And so I figured I would spread the word with my limited platform as best I can. In the event you're trading Maxc, you probably want to go ahead and get the primary KYc out of the way. In the event something happens. I can't say it is or isn't. Don't come at me talking about whatever, fud, whatever. It's what I see on the message. It'll be on the three on the thumbnail. So it's up to you whether or not you choose to do something or nothing. And then if it turns out to be legit, you get your tokens took and get liquidated. You need to come back in my credit because Lyster tried to help you out and you didn't listen to him. That's on you. That's on you. Hey.
