KYc meaning and why!

[royfajardo 68]

very good topic on kyc thanks really that well explained I congratulate you in this forum you learn good things that are useful for the use of various platforms and their authentication systems really great topic. Cheers

[Rambizzy 44]

KYC notion is purely the creation of beuraucratic world - without which we would: 1) not be liably to income tax, which is something I must not be forced to pay, anyway; 2) would not be worried for my data to be under risk of being revealed to potential enemies (nobody knows really what is happening to our data and our inability to have at least a tiny portion of control means we can't know what is the next thing that will be happening to our data).

[egosergey89 44]

KYC is verification - know your client, it gives the right to a much larger withdrawal from the exchange, if for some reason you lose access to your account, then without KYC you have a small chance of restoring access. In the coming years, this procedure will become mandatory.

[Sykkuno 2887]

KYC means know your customer and I don't know why they named it this way, it is not very intelligent and I don't want any company to know me, who I am and what I do. I don't give my ID to someone when I go shopping and I wouldn't go shopping if they asked me. So we are customers and don't want to do KYC, meaning they lose customers for asking us .

[yonkii 3205]

This is something I don't like. I don't like anyone asking to know who I am. They don't need to know and I'm not asking who they are. So I'm not giving my ID and if they don't want then I'll use another website. I don't trust anyone online and if you want to do KYC and don't care you don't care for yourself at all.

[Dormilon 2183]

The KYC is a method of identity verification under the name of know your client, it is used in many countries to verify the identity of those who trade in banks to avoid money laundering, there are exchanges that request it, some for any operation and others only when your volume of operations exceeds a limit of the money specified for it.Many complain about this practice due to the sales of identities and the thefts that have occurred in exchanges of this information, it is important to know that governments will always try that exchanges request this method and if the platform is located in a region that belongs to a government that uses it at any time, it will require it to do so. they request your identity document or passport, front photo with your identity document Most of them are visible, although some also state a telephone number and a legal document where your address appears.

[Ruslannoh4i 34]

If you zoom out and try to imagine what is happening to the data that we give away on a large scale and what the technology of machine learning and the like can do to the human control in the future (and KYC feeds the gathered information to the AI algorithms, which are providing surveillance on streets) - this raises a concern, with which I would be more happy to be vulnerable towards fraud, instead of being frightened for my privacy. And by having my privacy under pressure - I automatically have no freedom of speech and it takes off from there.

[LuisPc 46]

It is a security measure in my point of view very easy to carry out, many cryptocurrency exchanges such as Binance or Uphould require verification of KYC to make deposits, withdrawals and exchanges of large amounts, I participate in airdrops and many people make multi-accounts to take advantage of this, this is not cheating so they implement KYC to prevent a person from getting a large amount of USD for multi-accounts.

[beydi2021 31]

KYC is a method of identity verification that as its acronym indicates Know Your Customer is applied by a large number of pages (especially exchanges) where the person is asked for a series of personal documents to verify their identity, really little use this type of sites where they request KYC because it is very unsafe to be sending all these personal documents without knowing where to go for that information.

 

[gagwdadada 534]

Полностью не согласен с данным суждением Я много раз слышал о слове kyc. И я также видел, как некоторые люди задавали вопросы, связанные с этим. Но на самом деле я не нашел никаких ответов на этот вопрос "Что такое KYC? Это какая-то проверка или что? Почему это так важно для пользователей. Я nwver сталкивался с чем-либо в крипто связанных инструментах, я предполагаю. Пожалуйста, дайте мне знать, что это на самом деле." это самая безопасная инвестиция.

[AirEmmanuel 28]

Maybe this is not useful, but I want to give you some advice.

If some exchange, airdrop, or something similar asks you to do KYC verification, inform yourself well about that project, many times scams sites do this to obtain data from us, without giving anything in return.

Find out about the site well, make sure it is not a scam

[Esau 52]

 Es un proceso de verificación más personal a través de documentos y fotografías faciales.
Se usa por ciertas razones. Para evitar el blanqueo de capitales.
Y también para generar confianza en otros usuarios por la actividad de alguna transacción P2P

 Conozca a su cliente: (KYC) Es el significado.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Edited October 7, 2020 by Esau
type error

[Aleks Bychkov 85]

Kis is a procedure for verifying your identity. It is designed to make sure you are not a robot. It is also created to confirm that all your income is received honestly and the money is legal. It is very popular on many exchanges and wallets.

[Ahmed abdallah13 24]

It's refer to know your customer , some exchanges force its users to do it before trading , to detect any violation of the rules and secure it's customers but some people don't like that because it takes their personal data

[awwad 74]

Kyc means know your customer and this is a feature to avoid scammers and to avoid losing your account, so it is a good thing to do. 

[YOSEF678 15]

It means know your costumer and i hate it because not all countries are able to do it.

[koynayak 1923]

KYC is a idenification procces some of the sites are using this . You are giving your personal informations like Your idenity card,driver licanse, . But be carefull dont gave this information to new or untrustable websites they can sell those informations. 

[moeletaly 148]

On 5/18/2020 at 1:06 AM, Saj555 said:

I have been listening about the word kyc a lot of times. And i also saw some people asking questions related to this. But actually i didn't find any answers about this. What is a KYC? Is this some kind of verification or what! Why this is so important for the users. I nwver faced anything in crypto related tools i assume. Please let me know what is this actually.?

It means know your customer it's good for you to be able to withdraw big quantities of money and you can back your account if you forget everything but there are some countries aren't accepted in it I don't know why 

[hihellowb 19]

kyc is one of the methods that some sites use to verify the identity of subscribers and it is done by sending personal photos and some documents and a copy of the personal identity and frankly I do not like this method at all because it can be stolen and the use of these files in illegal matters

[ganandoconyago 15]

KYC means "Know Your Client", this is done by financial entities to verify the identity of their clients in compliance with legal requirements and according to the policy of your organization. Going through a KYC gives us security, transparency, and legitimacy when acquiring our cryptocurrencies.

[DunnoRND 55]

its the person identification law that is implemented in many countries so that you can have any "money" account without the country knowing who the "money" belongs too, 10-20 years ago you could have anonymous money online, but not right now..

[Heli1518 5]

Hello, the kyc is the verification that most exchanges do, which is that you provide documents where you show that you are a real person and thus avoid scams within the platform. Some of the things that they may request are
🔹 identity documents can be nationality ID or passport.
🔹selfie where you hold your identity document
🔹Occasionally they ask for a document to verify your place of residence such as an invoice.

[Albanis93K 20]

In my opinion the KYC system is super important both for your security and for the platform or wallet is what differentiates you from a bot and a real person.

[Joseerm54 48]

KYC is the acronym for know your customer. and it is a verification that entities, companies and many platforms and websites use to learn more about their client and make sure they are a real person and not a robot or an intruder or anything like that. The KYC regularly consists of a photograph of an identity document and a photograph of the person's face holding said document

[Juukleng 9]

what I know, kyc provides personal information, which is issued by a state agency ,, usually intended in various markets as certain conditions for withdrawing ,, many functions actually about this ,, and many traders don't like it ....