Again I tried to convey this in the OP but you'd be floored at how uncomfortable people are using a VPN to access non-KYC exchanges like MEXC. Doesn't matter if people can do something if they just won't do it. It's a weird problem.
But also that extra step loses a lot of people no matter what.
Simply having a listing on a big exchange is free marketing.
MEXC is a relatively small/unknown one that we only know about because we need it.
I had this challenge recently - I always just used Hive as a secure Twitter and earned my HIVE awfully slow. I had Cash App buy BTC (still within their app and does require verification to send it). v4v.app did not provide an invoice Cash App could send to, so another app, Strike, did. Strike can send to v4v.app.
It was appealing to purchase HIVE with consumer-level apps. If it truly is illegal to use a foreign exchange then doing it anyway by using a VPN still leaves you with the liability.
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I suppose a legit problem with using a VPN is that funds can get just frozen and there is no way to get them back without going through ID verification.
Have you seen swapspace.co? It routes the trade through CEXs. $10k could buy 39660 Hive atm. It says "low KYC risk"... never used it though
this happened to my buddy who copytrades my bitcoin swing trades
he legit used his USA phone number for 2FA
But they unlocked his account for 24 hours so he could just leave.
So I've yet to encounter this problem.
I was able to leave Binance in a similar way.
And Mandala.
I don't get this. Maybe people associate privacy with crime or smth? How terrible is such a society that even it they're told it's ok they won't do it, like they're coloring outside the lines or smth. It literally feels like being accused of thoughtcrime.