Cryptocurrency News & Discussion

The original post: /r/cryptocurrency by /u/Glad-Document-9755 on 2024-12-17 08:54:27.

Hi everyone, I need some clarification on a technical issue.

I have a Binance account with my KYC completed, and my wife has a CoinDCX account with her KYC. When transferring crypto from Binance to CoinDCX via the ERC20 network, coindcx asks if the transfer is a “self-transfer” or a “third-party transfer.”

To avoid any tax complications, I want to select “self-transfer.” My question is: • During an ERC20 transfer, does the sender’s KYC information get shared with the receiving exchange (CoinDCX)? • If I select “self-transfer,” will the transaction go through smoothly, or is there a risk of it getting stuck?

Any advice or insights would be greatly appreciated. Thanks!