They need KYC to verify us, how can we verify them too? - About Forum - CryptoTalk.Org Jump to content
Calvinpriva

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

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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.

_____________________________

You are welcome to reply.

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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.

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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.

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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. 

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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. 

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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 👌

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@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 .

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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.

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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 

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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

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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

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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. 

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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

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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. 

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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.

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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 by MilaNi
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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

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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.

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

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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 

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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

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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.

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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.

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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.

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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).

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The bulls on the pair took advantage of the dollar's overbought condition to return it to the lower boundary of the medium-term corridor of 1.2500-1.2800 in which it had been moving since the end of November last year. However, they did not have enough strength to consolidate within the corridor. The two-week maximum was recorded at 1.2540, after which, pushed by US PCE, the pair went down again and ended the five-day period at 1.2492.   According to specialists from United Overseas Bank, as long as the support at 1.2420 is not broken, there is still a possibility of the pound breaking through the 1.2530 mark. The next resistance, according to them, is at 1.2580. The median forecast of analysts regarding the behaviour of GBP/USD in the near future looks maximally uncertain: 20% voted for the movement of the pair to the south, the same amount – to the north, and the majority (60%) simply shrugged their shoulders. As for technical analysis, the trend indicators on D1 point south 65% and 35% look north. Among the oscillators, the picture is mixed: 25% recommend selling, 25% – buying, and 50% are in the neutral zone. In case of further decline of the pair, it will encounter support levels and zones at 1.2450, 1.2400-1.2420, 1.2300-1.2330, 1.2185-1.2210, 1.2110, 1.2035-1.2070, 1.1960, and 1.1840. In case of growth, the pair will encounter resistance at levels 1.2530-1.2540, 1.2575-1.2610, 1.2695-1.2710, 1.2755-1.2775, 1.2800-1.2820, 1.2885-1.2900.   No significant statistics on the state of the UK economy are planned for the week.   USD/JPY: Reached the Moon, Next Target – Mars?     We called the previous review "Higher and Higher". Now, it is worth asking at what altitude will this flight into space end? When will the Bank of Japan (BoJ) finally decide on a radical change in its monetary policy?   At the meeting on April 26, the members of the Japanese Central Bank unanimously decided to keep the key interest rate at the previous level of 0.0-0.1%. Moreover, the regulator removed from the statement the reference that it is currently buying JGB bonds for about 6 trillion yen per month. The statement after the meeting states that "the prospects for the development of the economy and prices in Japan are extremely uncertain," "if inflation rises, the Bank of Japan will likely change the degree of easing of monetary policy," however, "it is expected that the eased monetary policy will be maintained for some time."   The market predictably reacted to such decisions of the Japanese Central Bank with another Japanese candle on the chart of the USD/JPY pair. The maximum was recorded at 158.35, which corresponds to the peak values of 1990. There were no currency interventions to save the national currency, which many market participants feared. Recall that strategists from the Dutch Rabobank called the level of 155.00 critical for the start of such interventions by the Ministry of Finance of Japan. The same mark was called by 16 out of 21 economists surveyed by Reuters. The rest predicted such actions at levels of 156.00 (2 respondents), 157.00 (1), and 158.00 (2). USD/JPY has long exceeded the levels at which the intervention took place in October 2022 and where the market turned around about a year later. It now seems that 158.00 is not the limit. Perhaps it is worth raising the forecast bar to 160.00? Or immediately to 200.00?   USD/JPY ended the past week at 158.32. The forecast of analysts regarding the near future of the pair looks as follows: fear of currency interventions still prevails over 60% of them, while the remaining 40% are waiting for the continuation of the flight to Mars. Technical analysis tools clearly have no concerns about interventions. Therefore, all 100% of trend indicators and oscillators on D1 point north, although a third of the latter are in the overbought zone. The nearest support level is located in the area of 156.25, then 153.90-154.30, 153.10, 151.00, 149.70-150.00, 148.40, 147.30-147.60, 146.50. And it is practically impossible to determine resistance levels. We only note the reversal maximum of April 1990, 160.30, although this target is quite conditional.   No significant events regarding the state of the Japanese economy are expected in the coming week. Moreover, traders should keep in mind that Monday and Friday in Japan are holidays: April 29, the country celebrates the birthday of Hirohito (Emperor Showa), May 3 – Constitution Day.   CRYPTOCURRENCIES: Where Will Bitcoin Fall?   As expected, the fourth halving took place in the bitcoin network at block #840000 on April 20. The reward for finding a block was reduced from 6.25 BTC to 3.125 BTC. Recall that halving is a halving of the reward size for miners for adding a new block to the bitcoin blockchain. This event is embedded in the code of the first cryptocurrency and occurs every 210,000 blocks – until the moment when the mining of 21 million coins (presumably in 2040) ends the emission of cryptocurrency. It should be noted that the fourth halving will provide for the mining of approximately 95% of the entire bitcoin emission, about 99% of all coins will be mined by 2033-2036. Then, the emission will gradually move towards zero.   In the previous review, we promised to tell how the market would react to this important event. We promised – we report: the market reaction is close to zero. For several days after the halving, there was no growth in volatility. The price of bitcoin slowly and lazily moved first upward, reaching $67,269 on April 23, and then returned to where it began its weekly journey: to the $64,000 zone. It seems that market participants froze in anticipation of who would be the first to start buying or, conversely, selling the main cryptocurrency massively.   According to experts from Bitfinex, the post-halving supply restriction stabilizes the price of the first cryptocurrency and may contribute to its growth. "The reduction in the pace of bitcoin issuance after halving, which will amount to $30-40 million per day, contrasts sharply with the daily net inflow of $150 million into spot ETFs. This emphasizes a significant demand and supply imbalance, which may contribute to further price growth," stated the Bitfinex report.   However, analysts from QCP Capital believe that bitcoin optimists will have to wait at least two months before assessing the effect of the past fourth halving. "The spot price grew exponentially only 50-100 days after each of the three previous halvings. If this pattern repeats this time, bitcoin bulls still have weeks to create a larger long position," their report stated.   Anthony Pompliano, the founder of the venture company Pomp Investments, believes that within 12-18 months, the coin is expected to grow to $100,000, with chances of reaching $150,000-200,000. However, before moving to a bull rally, BTC/USD, in his opinion, is waiting for a correction down. At the same time, Pompliano believes that the price will not fall below $50,000. "I think we have already crossed this Rubicon," – he wrote.   The possible upcoming decline of the main cryptocurrency is probably a topic currently much more discussed than its subsequent growth. Many agree that bitcoin coins will appreciate in the long term. But how will quotes behave in the more foreseeable future? Fidelity Digital Assets, the leading issuer of one of the spot BTC ETFs, has already revised its medium-term forecast for bitcoin from positive to neutral. The reason for abandoning optimistic sentiments is several worrying trends in the crypto market. Fidelity analysts noted the growing interest in selling from long-term hodlers. Among them, there is currently a large percentage of profitable addresses, as noted in the company's report. This means that holders may want to lock in profits and start selling BTC. On the other hand, on-chain data indicates that small investors, on the contrary, continue to accumulate the first cryptocurrency. Since the beginning of the year, the number of addresses on which BTC is stored for at least $1,000 has increased by 20% and reached a new historical maximum. "Such a trend may indicate the growing dissemination of bitcoin and its acceptance among 'average' users," – Fidelity noted.   Specialists from CryptoQuant examined the SOPR indicator readings for these categories of investors and made conclusions similar to those of their colleagues from Fidelity. Investments in Bitcoin by "new" whales (owners of coins "aged" less than 155 days) almost doubled the indicator of "old" large players (more than 155 days). At the same time, the increased value of the metric showed that the profits of the "old" hodlers significantly exceed the indicators of the "newcomers". And if the "old-timers" move to fix profits, this may lead to the formation of price peaks. An analysis of the current picture, according to CEO of CryptoQuant Ki Young Ju, also speaks of the need to exercise caution in anticipation of possible corrections and increased volatility.   Recall that earlier, specialists from JPMorgan noted that digital gold is in a state of overbought. And co-founder of CMCC Crest Willy Woo noted that if the price of the first cryptocurrency falls below the support level of short-term holders at $58,900, the market risks moving into a bearish phase.   As of the evening of Friday, April 26, the BTC/USD pair is trading in the region of $63,950. The total capitalization of the crypto market is $2.36 trillion ($2.32 trillion a week ago). The Bitcoin Fear & Greed Index remained in the Greed zone, although it rose from 66 to 70 points.   Finally, in conclusion of the review, our long-forgotten crypto-life-hacks column. It turns out that in order to become a crypto millionaire, it is enough to have a marker and a piece of paper. The possibility of such a way of enrichment was proven by Christian Langlois, also known as Bitcoin Sign Guy. This guy made headlines in many news outlets after showing a notebook sheet with the inscription "Buy Bitcoin" behind the back of the Chair of the Federal Reserve System Janet Yellen. At that moment, the head of the Fed was giving testimony about the state of the US economy. This image instantly spread across the network and became one of the symbols of the emerging crypto industry.   For his misdemeanour, the 22-year-old intern Langlois was disgracefully expelled from the hearings. But after this episode was shown on television, enthusiasts sent 7 BTC to his crypto wallet to thank the guy for his bold move. Four years ago, Christian sold 21 copies of the "cult" sheet at an average price of 0.8 BTC, earning another 16.8 BTC. Thus, his total earnings reached 23.8 BTC, which is more than $1.5 million at the current exchange rate. And a few weeks ago, Langlois was offered another 5 bitcoins for the original, but he refused to sell the sheet. Nevertheless, Christian liked the idea of further monetizing the self-created object of "artistic and historical heritage", and he decided to sell it at an auction, directing the proceeds to finance his startup Tirrel Corp. On April 25, 2024, the auction house Scarce.City reported that the lot, which became a popular meme, was sold for 16 BTC (more than $1 million). NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • С радостью сообщаем, что мы добавлены на мониторинг OKchanger Контакты: Наш сайт - https://bitkovskiy.io/ Почта - bitkovskiy.change@gmail.com Telegram - https://t.me/Bitkovskiy_exchange
    • там автоматом, вроде, должно. при соблюдении нужных пунктов. что-то типа этого:     а еще у них есть пулы:     а ля американские горки вверх-вниз?
    • В России планируют запретить оборот криптовалют — депутаты назвали точную дату   Исключение авторы проекта предлагают сделать для майнеров, участников майнинг-пулов и «проектов Банка России в рамках экспериментального правового режима». Участниками обращения криптовалют считаются российские или иностранные юрлица и их представительства, а также физические лица, находящиеся на территории страны не менее 183 суток в течение 12 следующих подряд месяцев (то есть полноценные российские налоговые резиденты). Законопроект предлагает запретить на территории страны любую рекламу самих криптовалют и рекламу организации обращения виртуальных монет. Сейчас в действующем законодательстве есть запрет на расчеты между физическими и/или юридическими лицами в криптовалютах, но нет запрета на «организацию обращения» в любом виде. Это обновленная редакция законопроекта № 237585-8, который появился в ноябре 2022 года и должен был отрегулировать майнинг. Тогда документ не прошел даже перовое чтение. В феврале 2024 года авторы законопроекта снова попытались дать ему ход, но 19 апреля комитет по финансовому рынку постановил отправить текст на доработку. В пятницу, 26 апреля, вечером новая версия появилась на столе у председателя Госдумы Вячеслава Володина. Авторами и прошлой, и новой версии законопроекта значится группа из 16 депутатов, в том числе достаточно статусных: председатель комитета по финансовому рынку Анатолий Аксаков, зампредседателя комитета Аркадий Свистунов, зампредседателя комитета по информационной политике Антон Горелкин, первый зампредседателя комитета по безопасности Андрей Луговой, бывший министр сельского хозяйства Алексей Гордеев и так далее. В начале апреля главный фронтмен законопроекта, Анатолий Аксаков, жаловался, что принять закон мешает «одно-единственное ведомство». И обещал, что проект точно станет законом в августе.
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