KYc meaning and why!

[Tallest 376]

7 hours ago, Mark wood said:

Indeed mate that's why we are scare to provide kyc to any site as I mentioned earlier about binance that I provide my kyc and I know binance is full secure and it's real site but still I scare so we should ask from such experts before taking steps like this..

My friend you don't need to be scare about binance exchanger because it is one of the oldest exchanger I have ever known in cryptowold, it is very secure for the public to use because a friend of mine have been using it for almost 3 years now and he never complained about them.

[Fatima Alre 766]

I was like you. I see this word a lot and say to myself:  what KYC means?? and I am ashamed to ask someone and he laughs at me .. But once I read here that KYC is an abbreviation of "Know Your Customer" and some stock exchanges have put this test to verify customers' personal data, that is, it is a verification system.

[Miss Charlotte 55]

kyc means know your customer or client.  Its one kind of verification. Any company try to sure their customer real verification. Its provide by national id card, passport, driving license. 

[Mark wood 2970]

20 hours ago, Dorjoy12 said:

If you submit your kyc on Binance then your account already become secure like myth and if you get any problem later regarding funds then there has no thing to worry again . Yah if you submit your kyc on low secure site or exchange then hacker can use it for do bad thing .

Exactly recently I have just buy some usdt in binance so without any trouble and any risk I did the process because there is full security and no one can stole you finds or amount so I'm feeling well if I'm using binance for my purpose..

[Mark wood 2970]

18 hours ago, Tallest said:

My friend you don't need to be scare about binance exchanger because it is one of the oldest exchanger I have ever known in cryptowold, it is very secure for the public to use because a friend of mine have been using it for almost 3 years now and he never complained about them.

Well I have the same situation dear I also used it for last 2 years but I like the current update the most because before when I withdraw my amount so I used to transfer my amount first from binance to another site and then sell it while now we can sell and buy directly in binance..

[othmanmosaic2 107]

A lot of centralised exchnages require that you do KYC before you can carry out transactions with them. So it is very important that we think twice whether we should trust them with our data or we should make use of decentralised exchnages.

[Alice21 414]

Friend I did not know what kyc was now thanks to the fact that you have made this topic and several people have commented now if I know what it is and what kyc means now if I can know since I am informed about this and that it is thanks to you and others They have defined what it is and what it is used for.

[Dorjoy12 8962]

3 hours ago, Mark wood said:

Exactly recently I have just buy some usdt in binance so without any trouble and any risk I did the process because there is full security and no one can stole you finds or amount so I'm feeling well if I'm using binance for my purpose..

Till now i do not submit my kyc on Binance though have done already enough trading .. Yah i  will do the same soon to secure my account as well funds .. But i often i do not keep my funds on any exchange site as it risky sometime . you should follow up the same strategy .

[Mary777 881]

KYC is a process that decentralized crypto companies use in order to verify the identity of people dealing with them
  For example, audio and video interviews are required here to complete cryptocurrency transactions
To make transactions of unknown origin more clear and safe

[Samer 840]

My friend, the KYC is like a security protocol that the bank requests, to impose that to identify the identity of its client, and here as well in any trading platform

It is a protocol for the platform to verify the credibility of your business

Preventing any fraud or money laundering is all the best for you and everyone

[Huhh1440 712]

Was it written a clear explanation and agreed upon by the members?
I hope if this happened
Download us a comprehensive article on this term to expand our experiences in this field more

[Raauf QK 1013]

Some exchanges rely on forcing you to send Kyc, which means that you send your own documents such as photo ID or passport or your own things to verify you, but I do not like this method because it takes a lot of private and sensitive information about us .

[alkaesar109 82]

Hello my friend it will be interesting.  For someone to do an educational program on how to subscribers, this is done by sending the personal photo, the documents, and they are stolen, and the files are used for illegal matters.

[Noyonyt 378]

KYC is short for "Know Your Customer", many crypto websites and even some wallets use the KYC process these days and they say the reason is to ensure that no fraudulent activity is taking place, a feature required by some of its registered sites. Members are required to provide personal information in order to join or withdraw from the site

[علي سليمان 1071]

It is a way to verify the identity of the subscriber by keeping your personal information and identity, but it is a risky method because your information may be obtained and your account hacked.

[Mark wood 2970]

On 3/24/2021 at 10:57 PM, Dorjoy12 said:

Till now i do not submit my kyc on Binance though have done already enough trading .. Yah i  will do the same soon to secure my account as well funds .. But i often i do not keep my funds on any exchange site as it risky sometime . you should follow up the same strategy .

Well that was my situation as well but once I need to withdraw my amount so I just listened from my friend has says that you can directly sell any coins on binance but first you should provide kyc and I did it and in some times I get confirmation from binance and now I can buy and sell easily..

[alikhan59 542]

Kyc is part of verifying your identity. I do not recommend it for beginners because if you make a mistake and send your private information to a fake site, it will exploit it for many things that may cause you big problems, so be careful.Before sending your personal information to any site, make sure of its credibility, and study and research the topic frequently. 

[Umar shah 1003]

Dear it's a verification process .When you join any company they need your verification .This verification is consist of your personal information your identity card your phone number some times they verified your passport as well .If you like this give your response 

[ibrahmibrahm 314]

It is a common process where proof of identity and some other documents are required to verify the identity of customers. This will require them to provide some sensitive personal data to the broker in order to open a new trading account and start trading.And to keep your things well secured. But it carries a lot of risk, which makes it vulnerable to fraudsters.

[Farry 826]

Well KYC verifications literally means Know Your Customers, it's an additional/ extra verifications process that requires your valid documents and other value information. 

[Reta 1285]

It is the process that the institution performs in verifying the identity of its clients and their suitability to prevent fraud. It is also used to refer to the operations carried out by institutions by requesting detailed information to prove the identity of customers and the nature of the activities they carry out to verify the source of their money by making sure that they are not participating in financial crimes such as money laundering.

[rheham 93]

From what I heard, my friend, it's a feature that exists to protect you and make you safe your money and account from spammers, it is a system from which you have to give some personal information about you and sometimes your passport.

[Jazzy RR 21]

Hello my dear friend I hope that you are fine I want to tell you that there is no doubt you are absolutely right kyc means know about your customer because it is necessary to fill field the requirement of your customer thank you for asking best of luck

[Mehboob 638]

Hello dear members and newbies i hope you all are doing well first of all i want to tell you that i am also a begining section on this platform. I don't know about the KYC..because i am also a beginner..

[Hasan386 1066]

Well my dear friend, it is a good question KYC is one of the means to verify the identity of users, used by many companies by sending a photo ID or passport, your photo and your phone number, but for me it is considered an unsafe method