KYc meaning and why!

[fatimateta 175]

KYC or know your customer is used by exchanges or wallets or icos to verify identity of clients, but actually i donot prefer kyc because crypto must make you feel freedom

[Ryken8 545]

KYC or know your customer will require you to send your personal datas and information for verification and validation purposes. Personally I have mixed feeling on this, at one hand you know that the site your joining is more secure but on the other hand I don’t like to share personnal datas specially on line as it increase the risk of getting hacked.

[Zeshan Khalid 2577]

KYC stands for know your customer and it actually means that you must have information about your client and and the risks and benefits associated with establishment of business relationship with him

[fuck123 184]

KYC is a kind of privacy system where all kinds It is a kind of privacy where we can know all the right information and tell the person to depend. All of the sites that have a lot of power and their verification system is strong they use kyc

[Chandan Mandal 332]

Yes kyc is a option of verification in which your id gets a uniqueness through which no one can try to fraud with some kinds of spamming or other stuffs similar to that

[Zafarwaheed 0]

On 5/18/2020 at 6:55 PM, gourav789 said:

KYC is a sign that you are verified Member , you may be got some extra features if you provide KYC in any platform .

you need To provided your documents and sometimes selfie for approved , in my crypto jounery i doing kyc only on binance and on localbitcoin. 

Kyc is stand for a verification process of the customer. Kyc means  the verification and authentication in which you have to provide your personal information ,your account data, national identity , passport and your picture and lots of information which requires. Also your electric and telephone bills.

[Nicole018 4548]

Let's start with the very basics. The full form of KYC stands for know your customer. That is by providing any kind of KYC form a platform or any other site is actually verifying the personal details of any user in order to admit that person into the platform or site. Nowadays in most cases these KYC forms needs to be filled in order to ensure that the person is legit.

[mohamedpc1 2213]

Kyc is the process of verifying users by sending personal information and your documents that the platforms do in order to fight money laundering and protect themselves from it, but you can trade without activating kyc, I think if you are trading with a small amount, I am not obliged to. I honestly stay away from all the platforms that you You ask me to activate the documents because I don't trust anyone and I realize they can use them for other things, so be careful.
 

[pilat44 16]

kyc means know your customer and sometimes know your client. kyc or kyc check is the mondatory proceess of identifying and verifying the identity of the cilent when opening an account and periodically over time. in other words, bank must make sure that their clients are genuinely who they claim to be.

[noshot 154]

I have heard that some websites ask for phone verification and for identity. I don't want to pass any so if anything like that is asked I don't join no matter if there is something to earn from it.

[ajabe2 1485]

KYC is a means of identity verification. It is a useful thing that helps to legalize cash flows as much as possible. that is what most projects are asking for before letting you invest in there. But we have to be careful and don't leave our information in the hands of scam artists.

[xibew3 22]

On 5/17/2020 at 4:06 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.?

KYC stands for "Know Your Customer". They use it to get to know their client. Usually, exchanges do not ask for this unless absolutely necessary.

[somope44 18]

KYC is from Know Your Customer it's being used for any bugs in the sites that admins can contact their users or atleast to be know them for any money problems.

[yisemo1 15]

KYC is your name or your id number for the exchange to use it to verfy if your name typical your username or not and its short of know your customer.

[yaliw12 20]

I hate this too much, too many exchanges request it and airdrops, and they decline my docs always I don't know why. and sometimes they mention that they need a translated docs (eng).

[iuber888 14]

KYC is derived from know your customer. I think it's an anti-money laundering policy, so that thieves don't do this.

 

Edited October 26, 2020 by iuber888

[tigayim345 20]

4 minutes ago, yaliw12 said:

I hate this too much, too many exchanges request it and airdrops, and they decline my docs always I don't know why. and sometimes they mention that they need a translated docs (eng).

This is probably because your identification card is in its language and they cannot read it because they do not understand your language. You can get a translation.

[hadine43 12]

It is used to avoid money laundering laws, and is usually only requested in large amounts above 10 Bitcoin.

[pilat44 16]

kyc means know your costumer 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. in other words,banks  must make sure that their clients are genuinely who they claim to be.

[Tabaluga 166]

KYC means Know Your Customer and sometimes Know Your Client. KYC check is the mandatory process of identifying and verifying the identity of the client when opening an account and periodically over time. In other words, banks must make sure that their clients are genuinely who they claim to be.

[Jromz 2158]

As everyone has already highlighted KYC is a requisite in many platform in order to enable you to make use of financial services. The aim of this requisite is twofold, prevent criminal activities, such money laundering or tax evasion, and in many cases it also serves the purpose of preventing people to create multiple accounts to abuse of referral programs. 

[nguyenlambn 16]

kyc is one of the methods that some sites use to verify the identity of subscribers. This a security feature on wallets or on exchange platforms to make sure that you are not a bot or not a hacker !

[lessi9000 16]

know your customer

The objective of KYC guidelines is to prevent banks/exchanges from being used, by criminal elements for money laundering activities. It also enables banks/exchanges to understand its customers and their financial dealings to serve them better and manage its risks prudently.

[Shaheer16 908]

On 5/18/2020 at 4:06 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.?

KYC means know your customer. It is a verification process in which you have to verify your self on any exchange or site. The purpose of this verification is to confirm that your are a real person or authorised to use the exchange or site. 

In KYC verification you have to give personal data like scan copy of ID card or passport. 

But be careful never give KYC to every exchange or site. Just give KYC to trust worthy exchange or site. 

[TuRi3369 137]

Yes, I have my own question. Because this is the first time I heard this word from you. I would greatly benefit if someone would give me a detailed idea about kyc. Because I haven’t learned much yet as a new member at first.