KYC or not

[Glossy 615]

4 hours ago, Muneeb said:

KYC is the best option in exchanges but so many exchanges are fake nowadays and they just stole our data and then they close their website. I complete my KYC in so many exchanges but most of exchanges not shutdown their servers and they are 100% scammers.

That is the problem, that no one can say with certainty what exchange is scam and what is good. It is big problem.

[Mohs3n71 0]

1 minute ago, Glossy said:

That is the problem, that no one can say with certainty what exchange is scam and what is good. It is big problem.

what you can say about big exchanges like binance and bittrex ? can you trust them or not ? will you do KYC in binance ?

[Glossy 615]

4 minutes ago, Mohs3n71 said:

what you can say about big exchanges like binance and bittrex ? can you trust them or not ? will you do KYC in binance ?

I didn't do KYC on Binance, because all the functionality that I need is covered without KYC. If I want to cash out there are other options, like sending funds directly to Bitcoin ATM, or selling on localbitcoins.

[Docent 8549]

Even the most powerful exchanges merge the data of their users! Recently, data from 400 users of the Binance exchange walked on a telegram!
Once again, convince yourself of the correctness of the 50X exchange in general to refuse verification by users!

[Walter1371 49]

I do not provide KYC, I do not particularly trust exchanges, even verified ones. Recently, information leaks occur quite often.

[fajarriadi 179]

I always doing KYC ini several bounties, after i join those bounties, i have not get payment till now, are they trusted bounties or not? Am i wrong to do KYC?

Before this, i am fine to do KYC, but when i entered this  topic i was so scared if they sold my documents.

[Glossy 615]

5 hours ago, Alleyne said:

some people dont want to lose for but this is what most of us experience for so we must take an advance for what we may ever had to experience here so what the most of it is just accept the fact about on here.

Exactly

[Mohs3n71 0]

On 10/26/2019 at 8:35 AM, Mr Cryptonian said:

I avoid doing KYC since I learnt that KYC data cost a lot of money, instead of giving it out for free I rather keep my privacy with me. KYC shouldn't be a process on exchange

what do you mean ? how KYC cost a lot of money ?

I won't do the KYC too unless they make me too but I still don't understand your point about costing a lot of money

[Lubruselu 2803]

KYC and any government documents verification is wasting of time, because some time you uploads documents but they reject it is not clear image because it has brul.

[Mohs3n71 0]

4 minutes ago, snowergae said:

Тhе issue in bountiеs is whеn sаy they don't require KYС, but they аltеr thе rulеs and within the сonсlusion request KYС tо clаim the tokеns.

I won't ever use KYC in any other place than exchanges, don't share your identity with every scam project

[Playstreem 35]

I will say that if we are in crypto then it means we have to be crypto. We have to respect this technology and have to get benefits from the features of bitcoin.

[Mohs3n71 0]

2 minutes ago, compglenef said:

Kyс isn't рrefеrrеd by me in any rеgаrd. Thеrе аrе many triсk. And thе trар is here thе kyc. An trade сan sсam at аny timе and it might be оbstruct fоr us in сase thеy have аny deliberate.

sometimes we have no other choice or they will not let us withdraw our money ( happened to me )

[aqua 773]

On 10/19/2019 at 1:08 AM, Glossy said:

Do you guys usually avoid doing KYC when registering on exchanges and doing bounties?

To be frank I do not like doing KYC at all and never did it.

I wonder what are your thoughts on this issue.

I am already doing KYC in many exchanges, but that will only for trust exchange because I don't want to see my document is going to be used for the illegal things. But in the bounties, I try to search the bounty, which doesn't have to complete KYC because I want to protect my identity from the illegal activity that can happen in the future.
If you don't want to complete KYC, you need to search and did what I did so you don't have to worry about scamming or illegal things from the other people. That is good if you didn't do KYC before, and I see that you can protect your identity.

[Docent 8549]

The verification process is not a necessary thing in Bounty! It is possible and worthwhile to go through the process to raise the limits on the exchanges, but I personally do not know where to send documents, so I trade on an exchange that does not have a verification process! If you want to remain anonymous click on the link in the signature and trade!

[aika 286]

Well depends, if it's a trusted company and I need to use that particular service, well, it's a risk I could take. But for many services I prefer not to give my personal data. 

Giving your personal data is more dangerous if you live in, let's say, USA, where identity theft is a thing.

[Rg123 318]

However, it has a negative and postive insights, using KYC is good because we can avoid scammers this this forum and the minors also and KYC have negati impact because of giving personal information to this forum which is not good

[dhemasm 219]

Hmm, very interesting discussion. Indeed, some people including myself objected to the KYC system which has several platforms, but because of the various regulations that have been implemented and of course to make the platform have to follow these regulations, I think there is no other choice but to go through the KYC process. The last option might be to find a platform that allows activities but with some limits, well, everyone has their opinions.

[fimolof 66]

it is possible to use fake KYC documents, for me i use it for Unreliable sites and Questionable, may be it is scam site buy your information or use it cybercrime

[ultimateclub 392]

On 10/19/2019 at 12:08 AM, Glossy said:

Do you guys usually avoid doing KYC when registering on exchanges and doing bounties?

To be frank I do not like doing KYC at all and never did it.

I wonder what are your thoughts on this issue.

I personally don't like kyc. The crypto lord Satoshi Nakamoto might not liked kyc too. That's why he invented blockchain system where there is no need of kyc. But some exchange site required it to trace the members and anti-fraud.

Edited October 30, 2019 by ultimateclub

[Glossy 615]

2 hours ago, GGWP said:

KYC now a day is one of the standards in many exchangers and bounties back in the day we don't need this but I guess to avoid multiple accounts in bounties and exchangers they are doing this process also to know that they were trading or having a transaction to legitimate users. Also, I think this could also be used in many scenarios like hacking and scamming if you attempted or do such a thing in your account the website could easily track you using your KYC. So i think this is necessary to get your bounties anyway we still have no choice but to follow their procedure.

One of the positive sides of cryptocurrencies is their annonimity, if they are not annonymous then one positive side of using them is lost.

[Naga 1250]

On 10/30/2019 at 4:34 PM, lacusc62 said:

Basically I really don't like doing kyc but I understand a little that some of the cryptocurrency exchanges out there only follow the rules that apply to keep their platforms running according to the rules. Even though I don't like it, when it's needed I usually do kyc.

Well then don't be surprised if one dah your exchange got hacked and your identity was released for thousands of hackers to sell your id in the black market and suddenly someone else will havr your info and you'll be in deep troubles.

[Naga 1250]

8 minutes ago, lacusc62 said:

Well it has become a risk when we enter the world of crypto isn't it, although basically the crypto world is anonymous and decentralized but of course if you live in a country that have tight rules about crypto do you think you safe? And yes, I believe in exchanges or projects that require KYC to take good care of my data. Everyone has their opinions. I don't understand why you are offensive like that, lol

Oh so you believe that ICO team who took your money and also required kyc and you happily gave it to them...what do you think they'll do with it? Did you ask yourself how tight is their security?do you even know for how much ID's are sold in black market? Lol man I left binance because of kyc and look what happened to those who did their kyc....

[I-KUN 422]

15 minutes ago, Naga said:

Oh so you believe that ICO team who took your money and also required kyc and you happily gave it to them...what do you think they'll do with it? Did you ask yourself how tight is their security?do you even know for how much ID's are sold in black market? Lol man I left binance because of kyc and look what happened to those who did their kyc....

yeah you're right. why you should give your personal data to people that you don't know or even you never meet them. whatever security they have or the team they have, your personal data won't safe with strangers. even now  a newcomer exchangers required KYC to be able to withdraw or deposit with a little amount lol.

[Masterrex 559]

On 10/19/2019 at 2:08 AM, Glossy said:

Do you guys usually avoid doing KYC when registering on exchanges and doing bounties?

To be frank I do not like doing KYC at all and never did it.

I wonder what are your thoughts on this issue.

I was participating in some ICO's back in 2017-2018 that's why i already submitted a lot of documents for KYC's plus some of those Crypto-Exchange that i was use that required KYC. for me its just Ok if they are keeping our data safe for others.

[Naga 1250]

6 minutes ago, I-KUN said:

yeah you're right. why you should give your personal data to people that you don't know or even you never meet them. whatever security they have or the team they have, your personal data won't safe with strangers. even now  a newcomer exchangers required KYC to be able to withdraw or deposit with a little amount lol.

Yea I immediately avoid those exchanges and it sad that all the good ones are joining this kyc bullshit even cryptobridge who at first told people there wont be any kyc needed at all niw after 1 year they asked for kyc. Binance had been hacked and over 4000 ID  were leaked and all he said was...funds are safu lol