For me one of the major hold backs is the need of having a KYC and a third party to trust. I have seen a little bit of the untrustworthy side of the exchanges, many of them have gone full on KYC, I was pretty much to late to get in on non-KYC exchanges. I do not like the Idea of giving over my personal identification to a third party that could then use and sell that information.

I know eventually I will need to use a KYC place, another need for a third party to have my information on file somewhere and tracking what I do. I know what happens when companies or company employees go rouge and sell your information, it is in the news everyday almost about another data breach for this company or that company, and I really do not like the idea of empowering another giant FB type company.

People talk about how difficult it would be for someone to pull another Justin Sun, in reality it would not be difficult at all. Look at how consolidated the gaming industry became, look at how consolidated the service providers of internet became, look at how consolidated web page hosting has become.

How long before the exchanges become consolidated down to three or four option? This is one of my concerns, crypto talks about removing the middle man a lot, yet there is now and for the foreseeable future a need for the middle man.