KYc meaning and why! - Page 17 - For Beginners - CryptoTalk.Org Jump to content
Saj555

KYc meaning and why!

Recommended Posts

KYC is a kind of verification to verify and secure our account. Its stands for "Know your Customer". Many sites have introduced KYC to ensure clarity  of account holder. While registering we have to prove KYC to work and get withdrawal. 


"An Investment In Knowledge Always Pays The Best Interest"🌼

Share this post


Link to post
Share on other sites

It is a process in which you are required a certain amount of requirements to verify that it is actually a legal person who is using that service of the selected company, with this in a way they can send scams or multiple accounts.

Share this post


Link to post
Share on other sites

KYC is a collection of personal information about you that proves your personality at any time and is useful in cases of dealing with trusted sites because in the event that you are exposed to any problems, you can prove your personality with this information

Share this post


Link to post
Share on other sites

I do not have enough information, but I think it is one of the systems that websites and companies use to identify the personal data of the new member or subscriber, such as personal identity data, photos, passport, and the like,

Share this post


Link to post
Share on other sites

KYC is a method that some sites use to verify the identities of customers and it sends personal photos and a copy of some documents and personal identities and really I do not like this method at all because it can be stolen and illegal files Use

Share this post


Link to post
Share on other sites

KYC is an acronym for Know Your Customer.

Many online exchange wallets enable KYC verification to keep track of their customers, and get to know if they are the real users or not. If the KYC verification is not made mandatory, then the website may have computer programmed software bots or hardware bots to run the system and will have excess traffic of bots which can slow down or harm the server. So, to prevent scam and online attacks(DDoS), the majority of online exchanges implement KYC procedures to know their real users using their services.

Share this post


Link to post
Share on other sites

KYC meaning is know your customers.to understand hsi customer information and details KYC term is used in many institutions. By using this strategy a company stores his customers information like his identity, adress, personql details are taken by to avoide any spam.

Share this post


Link to post
Share on other sites

KYC means know your customer KYC is a verification where you can upload your personal documents like your national identity card or passport and you must take a selfie with your documents in these days every new websites and exchange required KYC verification when  upload your documents you must understand that this exchange is real

  • +1 1

Share this post


Link to post
Share on other sites

And I am my friend. I want to know everything about the world of cryptocurrencies. I am new to this forum and I do not have enough information. I like learning to expand my experience. I hope that the regular members will help you, dear.

  • +1 1

Share this post


Link to post
Share on other sites
On 3/16/2021 at 2:03 PM, Mark wood said:

I'm agree with you kyc is the process which you will provide your personal information with that site which needs your kyc but I'm little bit in trouble about kyc that don't provide your kyc with worse site because nowadays most of site are fake and they can stole everything from you so better to think before provide your kyc..

i do not think it is necessary to submit your kyc into wrong site or need to use wrong site . always try to use reputed site such as binance ,kucoin because this kind of site has good certification from crypto secure company .. it is worst habit that use kyc in every place without any research .

  • +1 1

Share this post


Link to post
Share on other sites

This term is an abbreviation for the phrase Know your customer, meaning that if he asks you on any site, you must provide personal information and data, they may ask for a phone number or a picture of the personal identity.

Share this post


Link to post
Share on other sites

Hello my friend, it is only present in the world of encryption. It is an investigation from the identity of the user and the non-entry of fraudsters into your own account, and it is a successful process and works to protect its members inside the site and thank you

  • +3 1

Share this post


Link to post
Share on other sites

KYC means Know Your Customer and it is the process in which the relevant site verify our personal information such as pur identity through scanning and verifying our national identity card and all the relevant information to secure oyr account and the forum from scammers.

  • +2 1

Share this post


Link to post
Share on other sites

KYC is a verification of any website, it stands for know your customer and it is very necessary for a business to having information about your customer it has customer name, cell number, I'D card number and picture which is necessary for any business to do it easily.

Share this post


Link to post
Share on other sites

It is depending as there are websites that consider the email verification to be KYC, but most of the websites are asking for your identiy in a photo or a scan in digital form to be sended to them for the verification of the identity.

Share this post


Link to post
Share on other sites
1 hour ago, Dorjoy12 said:

i do not think it is necessary to submit your kyc into wrong site or need to use wrong site . always try to use reputed site such as binance ,kucoin because this kind of site has good certification from crypto secure company .. it is worst habit that use kyc in every place without any research .

Right dear once I provide my kyc to binance at the time I was really scare because that was my first time even there is nothing to fear but if we provide kyc to wrong site then it's bad we should care of everything in online because one simple mistake can make us bad..

  • +2 1

Share this post


Link to post
Share on other sites

I do not like this method at all because it can be stolen and the use of these files in illegal matters this security requires you to upload your legal documents I prefer to avoid senting my documents  the main purpose of using KYC is to verify

Share this post


Link to post
Share on other sites

It can be defined as a digital identification identity, as banks sometimes impose it on customers where if you have accounts in several banks, following different security protocols such as kyc takes a long time and this is what the blockchain has solved as it saved time and effort.

Share this post


Link to post
Share on other sites
17 hours ago, Mark wood said:

if we provide kyc to wrong site then it's bad we should care of everything in online because one simple mistake can make us bad..

You can say that again my friend because hackers and scammers have different techniques they use to cheat people in cryptowold and providing them with those informations will give them easy access to wherever they will cheat you, so we should be careful on the type of site we do KYC verification process to avoid lose.

  • +1 1

Share this post


Link to post
Share on other sites

KYC's are made compulsory in banks or any financial institutions who need to know your real identity. KYC means Know Your Customer. In the field of cryptocurrencies like trading or investments, KYC plays a vital role to keep track of the records of the users of the crypto platform. Many crypto exchange platform including Binance, KuCoin, Okex, Bithumb, HitBTC enable KYC verification as a mandatory process to verify their users.

Share this post


Link to post
Share on other sites
5 hours ago, Tallest said:

You can say that again my friend because hackers and scammers have different techniques they use to cheat people in cryptowold and providing them with those informations will give them easy access to wherever they will cheat you, so we should be careful on the type of site we do KYC verification process to avoid lose.

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..

  • +2 1

Share this post


Link to post
Share on other sites

There are a lot of incomprehensible symbols, when I tried to write posts in a different section, I went into the exchange section and started reading the posts, I felt at that time that they were writing in a different language and I did not understand anything, and this made me return to the beginners section.

  • +3 1

Share this post


Link to post
Share on other sites

This is something you need in platforms like Binance when it comes to manage your money with great security, the truth is that I would like to congratulate you for taking the time to ask about these things that most people have no idea how they work, here in Cryptotalk there is a lot of valuable information that we can help you to take advantage of in the best way.

  • +2 1

Share this post


Link to post
Share on other sites

It is the process of verifying the identity of clients and evaluating their suitability, as well as the potential risks of illegal intent towards a business relationship. The term is also used to refer to the bank's regulations and the anti-money laundering regulations that govern These activities.

Share this post


Link to post
Share on other sites
On 3/22/2021 at 9:00 PM, Mark wood said:

Right dear once I provide my kyc to binance at the time I was really scare because that was my first time even there is nothing to fear but if we provide kyc to wrong site then it's bad we should care of everything in online because one simple mistake can make us bad..

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 .

  • +2 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

  • Topics

  • Сообщения

    • Приветствуем всех! Наш онлайн обменник Moneybit.pro предлагает для своих клиентов и гостей форума выгодный Обмен Ether Classic ETC на Тинькофф RUB. Мы предлагаем выгодные условия и быстрый обмен.   Контакты: почта: info@moneybit.pro телеграмм: @moneybitpro
    • Уважаемые клиенты нашего обменника криптовалют! Мы снизили комиссию на обмен - Bitcoin BTC на Тинькофф RUB. Курсы на нашем сайте Вас приятно удивят. Максимальная анонимность, большие резервы, вежливый оператор и индивидуальный подход к каждому клиенту.    Контакты: Сайт: https://btchange.ru/ Telegram: https://t.me/btchangeru E-Mail: info@btchange.ru
    • OKX и Bybit также залистят NOT 16 мая  в 15-00Запущен фарминг NOT. Можно застейкать TON начиная с 13 мая и получать NOT.
    • 09.05.2024 Тарифы Kingex 👑   Покупка криптовалюты / Buying cryptocurrency:   BTC/ETH  +1.6% (Мы доплачиваем) USDT  +1.6% (Мы доплачиваем)   ^^SALE^^ от 50k    + 1.8%    Продажа криптовалюты / Selling cryptocurrency:   BTC/ETH  +3.7%  USDT   +3.7%    Оператор: @Kingex Сайт: Kingex.io Курс на протяжении дня может меняться! ------------------------ Будьте ОСТОРОЖНЫ, появились фейки! Наш телеграм: @Kingex
    • Этот раздел уже давно не работает, но непонятно почему его никак не уберут. 
    • CryptoNews of the Week     – Anthony Pompliano, founder of Pomp Investments, asserts that bitcoin is "stronger than ever." This conclusion is based on the 200-day moving average (200 DMA) reaching its all-time high above $56,000. "In the long term, digital gold continues to appreciate. It is misleading to comfort oneself with the idea of a sideways trend. The long-term thesis is stronger than ever," the expert stated.   – Willy Woo, analyst and co-founder of CMCC Crest, has highlighted the activity of so-called crypto 'dolphins' and 'sharks.' "There has never been such vigorous coin accumulation by wealthy holders as in the last two months, with prices fluctuating between $60,000 and $70,000. These are individuals who hold between 100 BTC and 1,000 BTC, or approximately $6.5 million to $65 million," he explained. Willy Woo anticipates that bitcoin will continue to penetrate various aspects of daily life, thereby increasing the number of users. "By 2035, we expect the fair value of bitcoin to reach $1 million. This forecast is based on the user growth curve, and I am talking about fair value, not the peak during a bull market frenzy. Bitcoin was not traded until the thousandth user appeared, and only after the launch of the cryptocurrency exchange Bitstamp in 2011 did global platforms for asset valuation emerge. Since 2012, the BTC price has largely matched the growth in user numbers," noted the analyst.   – According to analysts at CryptoQuant, whales holding between 1,000 and 10,000 BTC, unlike dolphins and sharks, behave quite passively. Meanwhile, Michael Van De Poppe, founder of MN Trading, has pointed out the "absence of retail investors." He predicts that in the event of another correction, the coin could drop to around $55,000. "However, this range is quite acceptable as long as bitcoin remains above $60,000. Altcoins are slowly awakening," he added.   – Trader and analyst known as Rekt Capital reported that the first cryptocurrency has exited the post-halving "danger zone" and entered a phase of reaccumulating. According to this expert, in 2016, after the halving, BTC demonstrated a long red candle on the weekly chart, decreasing by 17%. This time, however, the pattern repeated with a correction of just 6%. The price reached a local bottom at around $56,500 but then increased by 15% and re-entered the "reaccumulating range." The analyst warned that technically, the "danger zone" will continue until the end of this week when the third post-halving weekly candle closes. From a price perspective, the "reversal effect" has already occurred.   – Robert Kiyosaki, bestselling author of "Rich Dad Poor Dad" and entrepreneur, has declared a crash in the currency market. "Bad news: the crash has already begun. It will be severe. Good news: a crash is the best time to get rich," he wrote, offering several recommendations on how to act during a crisis. The first recommendation is: "Find an additional source of income. Artificial Intelligence will destroy millions of jobs. Start a small business and become an entrepreneur rather than an employee who fears losing their job." The second advice from Kiyosaki is: "Do not save fake money (US dollars, euros, yen, pesos) which are declining in value. Save gold, silver, and bitcoin – real money whose value increases, especially in market crash conditions."   – Over the last decade, the main cryptocurrency has risen by an astonishing 12,464%, surpassing tech giants such as Amazon, Alphabet, and Netflix. However, according to a study by WuBlockchain, Nvidia shares took the lead, showcasing an even more impressive growth of 17,797%. This was facilitated by the company's cutting-edge graphics processors and semiconductor devices. The fact that bitcoin secured the second place, being a representative of a highly volatile market, is a true achievement. The impressive growth trajectory of BTC over the last decade demonstrates its resilience and potential as a viable investment vehicle. Given that investors are actively diversifying their portfolios and seeking ways to achieve potentially high returns, the analysis conducted by the WuBlockchain team serves as a valuable reference point that highlights the impressive dynamics not only of traditional tech company stocks but also of modern digital assets.   – According to data from Clark Moody, more than 1 billion transactions have already been processed in the bitcoin network. Comparing network indicators with the international payment system Visa, it is notable that the first cryptocurrency's blockchain reached the billion milestone in just 15 years, while Visa required almost a quarter of a century. The average number of daily transactions in the BTC network, as detailed by The Block, is around 505,000, which is a sign of growing recognition for "digital gold." It should be noted that bitcoin is not the record holder in this indicator: the Ethereum network currently has around 2.4 billion transactions.   – On May 1, bitcoin updated the minimum from April 17-19, which has heightened investor concerns. Amid such fluctuations, Michael Saylor, CEO of MicroStrategy, has become a symbol of bullish optimism. In his latest message, he urged investors to "run with the bulls." It should be noted that with 205,000 BTC on its balance sheet, Saylor must exude optimism to prevent his company from incurring losses. However, analysts note that in reality, the fate of bitcoin depends not only on the sunny calls of the CEO of MicroStrategy. If buyer support weakens, BTC may return to key support levels at $61,000 and $56,000, where significant liquidity is concentrated.   – American and British scientists have published a study titled "The Impact of Cryptocurrency-Generated Wealth on Purchasing and Investment in Private Residences." The researchers examined financial transaction data for more than 60 million residents of the USA conducted from 2010 to 2023 and found that the rise in cryptocurrency prices causes a significant increase in real estate prices. In states such as California, Nevada, and Utah, where many residents became wealthy in 2017 due to the multiple increase in BTC prices, the value of real estate increased by an average of $2,000 annually, and every dollar earned from cryptocurrencies increased property prices by 15 cents. Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/
    • Website: https://www.charizard.me DAPP: https://www.charizard.me/dapp 1. Introducing Charizard (CRZ) We are thrilled to announce that we will start the fair launch of the Charizard (CRZ), Proof-of-Burn (PoB) based meme coin. Charizard will launch on UTC-13:00 May 9, 2024. Now, Charizard has launched the Solana testnet.   2. Story The Charizard has emerged from the depths of the Solana realm, ready to unleash its fiery dragon breath upon the world of MEME coins. By transferring your MEME coins into the fuel reactor, you're becoming part of an epic mining revolution. Each burst of flame from the Charizard transforms your MEME coins into the fuel that powers the mining operation. The more fuel you provide, the more intense the combustion, leading to unparalleled mining efficiency. And here's where it gets even more exciting: your Fuel Reactor directly influences the mining ratio. Let’s "Burn MEMEs to Earn."(https://www.charizard.me/dapp) 3. Token Elements: Name: Charizard Symbol: CRZ Total / Max Supply: 12,960,000,000 Blockchain: Solana. Token Address: CRZDgCZGajAM2QvtAy29bpKwedNrBxxtt2v5HqBdHSav Burn DAPP Contract Address: BURNeP7Rw7oDKxcsKsBhWAtdC4Vjg3vkzmMWTWsbAkz5 4. Key Features of Charizard (CRZ) : - No Presale! No Private funding! No Tokenomics! - 100% mining by burn MEMEs !! - Completely fair launch with an extremely limited supply of 12,960,000,000. - Initial Supply Rate: 500 CRZ / second - Mining rewards monthly reduced - Each burn can obtain a ratio (1.5%~2.1%) of Mining Pool - You can even burn CRZ, and the reward will double    5. Mining Mechanism: • $CRZ will be supplied to the Mining Pool automatically per second. • The supply rate of $CRZ into the Mining Pool will be reduced over time. • Every time the user burns MEME coin in the Fuel Reactor, he can only obtain a ratio of $CRZ in the current mining pool. More Detail Info here: https://www.charizard.me/mining_mechanism 6. Mining Ratio The mining ratio of a fuel reactor directly determines the mining intensity. • If the amount of MEME burned is a high proportion of the current MEME supply, the Mining Ratio would be higher.(1.5%~2.1%) • If you are burning an NFT, you have a Mining Ratio(2.1%). • Of course, you can burn a very small amount of MEME each time, but the Mining Ratio will be low (1.5%). We also provide the CLI Program console program, which can be convenient for professional players who frequently mine. • Burning CRZ mining will get double the mining rate. 7.Example (1) You think Silly Dragon is stupid, and you want to burn 100,000 $Silly. (2) Current Supply of $Silly is 999,929,816. Then you burn 0.01% of $Silly ( 100000/999929816 = 0.01% ). (3) According to the standard, your Fuel Reactor’s Mining Ratio = 2.1%. (4) Let Charizard burn it, and you will get 2.1% of the $CRZ from the Mining Pool! If there are 4000 $CRZ in the Mining Pool now, you can get 84 $CRZ. 8. Links: - Website: https://www.charizard.me - Burn DAPP: https://www.charizard.me/dapp - Explorer: https://solscan.io/token/CRZDgCZGajAM2QvtAy29bpKwedNrBxxtt2v5HqBdHSav - Linktree: https://linktr.ee/charizard_meme - Twitter: https://twitter.com/Charizard_Meme - Discord: https://discord.gg/SV74HqYr 9. Warning: All tokens burned are turned to ash by Charizard‘s flame, irretrievable. Do not burn valuable tokens!
    • Website: https://www.charizard.me DAPP: https://www.charizard.me/dapp 1. Introducing Charizard (CRZ) We are thrilled to announce that we will start the fair launch of the Charizard (CRZ), Proof-of-Burn (PoB) based meme coin. Charizard will launch on UTC-13:00 May 9, 2024. Now, Charizard has launched the Solana testnet.   2. Story The Charizard has emerged from the depths of the Solana realm, ready to unleash its fiery dragon breath upon the world of MEME coins. By transferring your MEME coins into the fuel reactor, you're becoming part of an epic mining revolution. Each burst of flame from the Charizard transforms your MEME coins into the fuel that powers the mining operation. The more fuel you provide, the more intense the combustion, leading to unparalleled mining efficiency. And here's where it gets even more exciting: your Fuel Reactor directly influences the mining ratio. Let’s "Burn MEMEs to Earn."(https://www.charizard.me/dapp) 3. Token Elements: Name: Charizard Symbol: CRZ Total / Max Supply: 12,960,000,000 Blockchain: Solana. Token Address: CRZDgCZGajAM2QvtAy29bpKwedNrBxxtt2v5HqBdHSav Burn DAPP Contract Address: BURNeP7Rw7oDKxcsKsBhWAtdC4Vjg3vkzmMWTWsbAkz5 4. Key Features of Charizard (CRZ) : - No Presale! No Private funding! No Tokenomics! - 100% mining by burn MEMEs !! - Completely fair launch with an extremely limited supply of 12,960,000,000. - Initial Supply Rate: 500 CRZ / second - Mining rewards monthly reduced - Each burn can obtain a ratio (1.5%~2.1%) of Mining Pool - You can even burn CRZ, and the reward will double    5. Mining Mechanism: • $CRZ will be supplied to the Mining Pool automatically per second. • The supply rate of $CRZ into the Mining Pool will be reduced over time. • Every time the user burns MEME coin in the Fuel Reactor, he can only obtain a ratio of $CRZ in the current mining pool. More Detail Info here: https://www.charizard.me/mining_mechanism 6. Mining Ratio The mining ratio of a fuel reactor directly determines the mining intensity. • If the amount of MEME burned is a high proportion of the current MEME supply, the Mining Ratio would be higher.(1.5%~2.1%) • If you are burning an NFT, you have a Mining Ratio(2.1%). • Of course, you can burn a very small amount of MEME each time, but the Mining Ratio will be low (1.5%). We also provide the CLI Program console program, which can be convenient for professional players who frequently mine. • Burning CRZ mining will get double the mining rate. 7.Example (1) You think Silly Dragon is stupid, and you want to burn 100,000 $Silly. (2) Current Supply of $Silly is 999,929,816. Then you burn 0.01% of $Silly ( 100000/999929816 = 0.01% ). (3) According to the standard, your Fuel Reactor’s Mining Ratio = 2.1%. (4) Let Charizard burn it, and you will get 2.1% of the $CRZ from the Mining Pool! If there are 4000 $CRZ in the Mining Pool now, you can get 84 $CRZ. 8. Links: - Website: https://www.charizard.me - Burn DAPP: https://www.charizard.me/dapp - Explorer: https://solscan.io/token/CRZDgCZGajAM2QvtAy29bpKwedNrBxxtt2v5HqBdHSav - Linktree: https://linktr.ee/charizard_meme - Twitter: https://twitter.com/Charizard_Meme - Discord: https://discord.gg/SV74HqYr 9. Warning: All tokens burned are turned to ash by Charizard‘s flame, irretrievable. Do not burn valuable tokens!
    • Увы не ожидал такого от данного проекта, дали всего 94 токена, не одна из хороших картин, но хотя бы получили что-то чем ничего. А вам сколько токенов насыпали? Про НФТ скорее всего эта и есть оно, других раздач у проекта больше нет, до 11-го числа участники первой и второй части дропа могут подать заявки на клейм, а мы били во второй части с клеймом их NFT.
    • Защита от банов на Юле  Кто устал от блокировок на Юле, поднимите руку! Делимся лайфхаком: наши мобильные прокси могут защитить ваши аккаунты и увеличить продажи. Испытано и работает!🥰 Сайт🙂 Телеграм❤️ Вконтакте 🤧 Поддержка 🤩Твой промокод CRYPTO_LAB
×
×
  • Create New...