They need KYC to verify us, how can we verify them too?

[Calvinpriva 17296]

Hi friends,

Have you ever think about this? There are many projects which nowadays they need KYC to verify us if we are legit members or scammers, many people believe in KYC sites they think they are the most trusted sites! But unfortunately, even scam sites are now using KYC verification to assure you that they are safe! 

 

What can we have to verify that they are safe so that we can upload our documents to them?  My suggestion: It will be good if there will be the main website for all crypto project sites that will review them and assure us of our safety if they are legit. That site can work like Coingecko or CMC but it will list mining sites, trading sites, lending sites, airdrop sites and other related projects. 

 

Just like gambling sites they have their license numbers from gambling boards, this review site will also give unique license number to those sites which will review so that we can join only projects with those license numbers for our safety. Believe me, this will help very much to reduce scammers, and it will increase profit to many crypto users.

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You are welcome to reply.

[rekter 8129]

There are already sites that "verify" gambling sites like Curacao Gaming, but i really wouldn't put any trust on them.

 

I really don't believe that there can be one reviewing standard for basically borderless sites, without somekind od highly sophisticated decentalied regulatory system. Every project would bribe them to list as legit project just like every ico reviewing site has done.

 

Even with DAO like entity, voters would likely be just paid to vote by the scam site.

[Jaysen0104 536]

It is also a big question to me because how can we easily identify if the site we are engaging is legit specially if they are requiring us to provide KYC. The information about us is very important as well as our ID. So for i never trusted any KYC because i am afraid from Identity theft.

[BTC Future 3946]

I don't think that any kind of website is safe to ask for our private documents. The EU got it all wrong with their latest KYC/AML regulations and are basically enforcing all crypto related projects that are based in Europe to ask their users for mandatory KYC. This is not going to end well and all these documents will end in the hands of scammers. 

[CryptoLegend 16]

Most of these projects asking for KYC are being force to do so due to the law within their legislation and might not necessarily be scam. They just have to comply for them not to go against the law and if you are not comfortable, there are many projects that are not requiring this. You just need to do your home work properly, like Koinpro, you don't need KYC to trade and it is full of amazing features. 

[Whited35 15285]

Excellent ideas. I do also imagine some platforms like CMC, Coingecko where we can see KYC status for the  individuals of the teams from some specific projects.Even for the new projects, it gives them extra points of trust. @CalvinprivaI really appreciate this idea 👌

[gourav789 2834]

@rekter I guess that you said about gambling website , I would recommend to used top 10 gambling website ( just Google about it ) .

one of my colleagues friends used sportsbet.io from longtime , stay away from New website till they didn't get a good reputation in market .

[rekter 8129]

1 hour ago, gourav789 said:

@rekter I guess that you said about gambling website , I would recommend to used top 10 gambling website ( just Google about it ) .

one of my colleagues friends used sportsbet.io from longtime , stay away from New website till they didn't get a good reputation in market .

@gourav789 That wasn't really my point, the point was on confirmation of legitimacy. Gambling sites were just an example. Did you read the first post? We are really not talking about gambling sites in here.

[Wilmer Garcia 0]

19 hours ago, Calvinpriva said:

My suggestion: It will be good if there will be the main website for all crypto project sites that will review them and assure us of our safety if they are legit. That site can work like Coingecko or CMC but it will list mining sites, trading sites, lending sites, airdrop sites and other related projects. 

I like this proposal on your part would be great to have a safe and serious platform where our KYC is stored and this same power to relieve that we are real people to the sites that request KYC verification 

[Zaino34 0]

It is difficult to know if the site is reliable or not, and I do not prefer to work on the sites that ask me KYC because I do not like to share my private information with any site and there are many sites that do not require KYC and we can work on it without any problems

[Brand1 1336]

I hate all new projects due to the kyc verification system that you request. As I said, these projects are new, anonymous and unreliable. It is possible that you will steal our personal files and use them in all non-legal matters, so we must beware of this. Frankly, your idea is very impressive and should be implemented as quickly as possible. It helps to know the reliable sites from fraudulent sites

[BitcryptoHan 2557]

20 hours ago, Jaysen0104 said:

It is also a big question to me because how can we easily identify if the site we are engaging is legit specially if they are requiring us to provide KYC. The information about us is very important as well as our ID. So for i never trusted any KYC because i am afraid from Identity theft.

It is not hard but can be hard for the beginners, first check the donation of the site, make sure it is old, go online, check about the site review, see how people comment about them. That is sufficient enough. 

[Shahud 1319]

i agree wth your words there should be a site that gives js information about any site related to crypto airdrops and all.so that we will get a verification confirmation to work on the website.and whenever anybody wants to know about the mining site and crypto sote then they should browse to coingecko site

[guatazoo 7150]

Your question is very good, when they need to verify you, actually you cannot verify them, bet them are being verified and given license from the government sectors, so thats you must use the platform thats have been verified and having business license. 

[Brushless4500KV 4214]

The only possible way for users to verify an exchange is to look back at the history and credentials of that exchange and read the reviews of other users who have experienced dealing with a certain exchange. The more positive contents you find, the more reliable the exchange is. This is a rule of thumb but any thing can happen. Some platforms may have performed well for years but suddenly changed their policies. Don't give your personal information to any website unless you know it is legit.

[MilaNi 603]

2 hours ago, Brushless4500KV said:

The only possible way for users to verify an exchange is to look back at the history and credentials of that exchange and read the reviews of other users who have experienced dealing with a certain exchange. The more positive contents you find, the more reliable the exchange is. This is a rule of thumb but any thing can happen. Some platforms may have performed well for years but suddenly changed their policies. Don't give your personal information to any website unless you know it is legit.

 

You are quite right, good pisitive reputation - is the only thing that can show us whether this service or website can be trusted or not. And even in this case it can not be for always, only for some period of time,  because noone can give you a guarantee that it will not be hacked some day or so. 

 

But as for the sites or services that accept different projects to their list, even like the Coingecko despite I like it, or whatever, there can not be the guarantee for you that the concrete project will be really always great and that your data will be safe for the whole period of time. 

 

May be it would be good for all us to have got some regulator like it was mentioned in the first main post, but there is a high risk that such kind of licenses will become sold someday or the decisions whom to give the license or not could be subjective.

 

 

Edited June 5, 2020 by MilaNi

[bitcoin-shark 1928]

unfortunately it is true lately more and more services starting from Exchange to ico, faucet, airdrops require identification through the Kyc procedure but in reality who are these gentlemen who often ask for our data we will never know it only in a small percentage they put their photos and their details on their sites my advice is not to do it in any case if we not have absolute certainty at Here who we are sending our documents once online documents remain there forever and can also be used for illicit purposes for Example on the Dark web or even being resold

[Raqeebzy 6456]

I believe cryptocurrency platforms should have a level of trust and reputation to require KYC from its users so we can be sure our information wouldn't be mishandled by a third party. If there should be a legal agreement put into place, there wouldn't be fear of KYC by most of us, we should verify the as they do to us through KYC. There are certain sites that does that but they're a lot more compromised.

[Cammer 4609]

You should have enough knowledge about that website. If it is famous and the administration is known, then that website is verified and trusted. 

[scorpiali 5626]

I think to verify any website who ask for verification we can see the reputation of the website because the only that who can give us the trust this is how i see verification 

[magd 5231]

I cannot consider sites that request personal information as reliable sites because most of the sites I work on legally did not request KYC and many fraudulent sites use this method to steal information from users

[Tine0313 3053]

I think to be able to verify some sites, i think we should search it first if it is legit or not so we prevent ourselves to those sites who want to scam us. It is better to do searches first to avoid scammers.

[George10 9932]

Sure your suggestion is great and can help to save us from scam crypto projects as we where going to be able to know if they are legit or not since there are many sites that requires to verifie us while themselves aren't verified and might even be scamers but we can still use Google search on all the crypto sites we want to deal with it can help us to spot out fake or those that are scam by following other people's reviews.

[Mcd0d0 5882]

16 hours ago, Tine0313 said:

I think to be able to verify some sites, i think we should search it first if it is legit or not so we prevent ourselves to those sites who want to scam us. It is better to do searches first to avoid scammers.

This is actually true mate because there is a tendency that they will hacked us by getting our personal information, so be careful to fill up some KYC we need to verify first if this us legit or not.

[DreamStage 2105]

Well if you want to keep yourself anonymous you should avoid such kyc sites requesting your private information.

 

Regarding being able to use their services you should provide KYC info no matter what.

Some sites benefit having kyc enabled as for example Coinbase where you can confirm your identity and there are no issues on transfering fiat to your bank account.

 

Same thing for Curacao gaming sites (gambling mostly).