KYc meaning and why!

[Aldiyar1337 34]

KYC do be a verification. It prevents admins or who is giving coins from abusers. It is needed only for this I guess. At least I don't see any reason but abusers.

[Franklin Guerrero 66]

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.

[frvn1 52]

I guess the real purpose of KYC is to verify and be sure that the account's owner is a real person and not aa robot or a multi-account guy. Sometimes KYC is boring to do, but it's really important for airdrop makers and important platforms

[Ftmkh79 1]

In fact, it is the same as authentication, which means that you can authenticate yourself by sending documents such as national cards, etc. to exchange offices. And this will prevent any fraud in the exchange offices.

[ramsar 195]

I will define it for you in a simple way and I hope and hope you understand it correctly

Know Your Customer

 

KYC means Know Your Customer and sometimes Know Your Client. KYC or KYC check is the mandatory process of identifying and verifying the identity of the client when opening an account and periodically over time.

[Wanderdark 2178]

Greetings.

KYCs are needed for exchanges because at some point the governments will start applying some regulations and taxation procedures for both exchanges and their users. In that point the exchanges will need to take identifications from their customers. 

Most of the cryptocurrency exchanges predicts this to happen soon and as a result they encourage their customers to do these checks so that there won't be a rush when these days come. 

Thanks for reading and have a nice day. 

[Lenard 89]

Look at the KYC means "Know Your Customer", this means that by means of facial verification they make sure first that the person is a human being and secondly, if there is any inconvenience to that person they will no longer be able to access transactions. On the contrary, if is someone trustworthy, it will gain more prestige, all this is for security and is a good method of verification free of scam.

[Yogidon712 132]

KYC full form is know your customer  , Its a verification procedure required to trade or unlock some features on some exchanges  it is done to prevent scamming accounts and mostly done by exchanges that offer money laundering  . It includes giving some identification and  a picture of yourself and may include address proof. I personally don't like because i don't want to give my personal information a exchange i don't personally know

[Faraor 42]

KYC stands for Know your customer. It is a verification of your identity. Many trading platforms in crypto started to require passing KYC, where you will send them your ID, your photo with your ID holding and your signature etc. In every banking system you should pass KYC. But regarding crypto as crypto became famous for its anonymuous passing kyc is the opposit of crypto. I would not want to send my phoro to any exchange as i dont know how they will use it, and i dont know where the platform physically located (or at least it is not located in my country). Fortunately some cryptotrading platform like yobit does not require kyc.

[elnegri 114]

On 17/5/2020 at 19:06, Saj555 said:

He estado escuchando la palabra kyc muchas veces. Y también vi a algunas personas haciendo preguntas relacionadas con esto. Pero en realidad no encontré ninguna respuesta sobre esto. ¿Qué es un KYC? ¿Es esto algún tipo de verificación o qué? Por qué esto es tan importante para los usuarios. Supongo que nunca me enfrenté a nada en herramientas relacionadas con criptografía. Déjeme saber qué es esto en realidad.

A KYC is very necessary with these pages to earn money with the KYC you prevent people from trying to make multi-accounts to have more benefits such as AIRDROPS.

[Luisruiz 31]

In some pages they are necessary to avoid multi-accounts but it is also true that many pages of dubious origin use them to keep their identity online, they can register on pages pretending to be you, so it is important to know when to do the KYC

[criistianinDP1 64]

KYC is the term given to an identity verification process requested by a cryptocurrency exchange platform. This is usually done many times to avoid the use of multi-accounts and also to detect if someone is usurping the account of another user.

[Jeanette Rendon 102]

Hello friend, how are you, the KYC verification is that which consists of verifying your identity through personal documents such as passport, driver's license or identity card. Exchanges use this verification to make sure their users are not fake.

[galataapustina 36]

I have gone over this before where they will request that you make a k y c is only a check cycle where you will be mentioned to give your visa public ID card or driver permit.

[Skunk35 42]

I think it is something necessary, I do not like the idea that they require it either, but it is mainly used to control money laundering, and so that governments have all these issues regularized, otherwise any cybercriminal could launder their money without worrying about anything

[Zeusplay 27]

The kyc are a verification to have your accounts where you have your secure cryptos in some cases they ask for photos or even facial recognition with phone numbers, emails is an excellent way to have your accounts safe and protected on some pages until you do the kyc you will not be able to sell your crypto

[khaleesi2020 115]

Hi good day!
Greetings good people!
Well friend, a KYC is the process by which they verify your identity through a few steps, generally a selfie and an identity document, they use it more than anything for airdrops, so that few people do not capture almost everything.

[ariel1969 3]

es cuando te piden que te registres contus documentos. debe ser para no tener estafadores

[jamesaclark3 40]

This information is requested to prevent negative  situations such as  fraud and  illegal money transfer.

[SALOMON CASTELLANOS 56]

On 5/17/2020 at 7:06 PM, 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.?

The acronym KYC, comes from the English and means "Know your customer" and is required to verify and validate the identity of a person at the time of registering in a platform that operates with cryptocurrencies.

 

What is sought is to protect all users who trust, for example, a certain exchange, they are protected from other people of dubious origin entering their money that comes from illegal activities.

 

Although for some people it is uncomfortable or annoying, it is preferable to operate on a platform that requires the KYC to work with one that does not.

[Tranzc 64]

KyC is a verification that many platforms do to prevent fraud or multi-accounts, as well as to have information about those they are working with, or who register on their platform, this also allows trades within the different platforms to be broader and unrestricted, since many of them ask you for different levels of verification to be able to trade , depending on the amount of money you want to work with, a level 1 or level 2 verification will also be required, where in the latter you would have to send a selfie next to the document, a utility receipt to verify your address and even the name and date of it on white paper next to your national identification document. 

 

[Jeanette Rendon 102]

Good dear friends!
KYC verification is simply verifying the identity of a user in order to verify that they are a real person and not a robot. This verification method is becoming more and more common on different exchange platforms around the world.

Edited October 7, 2020 by Jeanette Rendon
error

[TheCrow00 70]

The KYC is a process that exchanges carry out to be able to validate the authenticity of a person and avoid fraud, money laundering, scams and to be able in a certain way to create a safe environment for all users of the platform is a rather tedious and annoying process but I think it is good to give more security although it also exposes the user's privacy

[EderTron 11]

The KYC is the verification of identity
some companies request them
to verify your identity
You can validate it with your identity document, passport or driver's license.
some pages even ask you to take a selphie with your identity document.
the higher the requirement, the greater the security of your account.

[Danitalk 160]

good friend personally and resolved muschos kycs in what I have been in the world of cryptocurrencies this is actually the verification of our identity so that the sites in which we are registering have the opportunity to know that we really are someone in reality and not only A bot or someone that does not really exist, so if the kyc of the sites that ask us for it or that consider it necessary for the verification of our identity is very important.