KYC-Know Your Customer

[Joker 124]

I am always wary of KYC. Recently, many exchanges and sites require it to pass. Do you think it is necessary to be afraid to provide documents and if so what problems may be with this ? If who rebuffed with than the unpleasant or with somehow any fraud associated with transfer passport data for (KYC) share with us. Thank you in advance.

[bitcoin-shark 1928]

not even i like the kyc procedure at all, once on the net your data remain forever, more and more exchange, ico and airdrops ask for kyc but i resist and stop using these exchanges (bittrex, poloniex) and obviously i don't do those airdrops that ask for kyc and e-mail, a single site online have my data and is paypal

[bentayebsalah 2280]

I prefer to keep my identity anonymous and that's why any website or company that imposes documents I do not deal with them and look for another alternative

[Bitcrypto 87]

Crypto anonymity is very much maintained, but the central exchange has changed all this, where we have to give up our identities for some reason. I agree with the reasons for securing assets and crime, such as money laundering and the rules of a country. but in my opinion the kyc verification system is a bit annoying.

[Emma 611]

4 hours ago, Joker said:

I am always wary of KYC. Recently, many exchanges and sites require it to pass. Do you think it is necessary to be afraid to provide documents and if so what problems may be with this ? If who rebuffed with than the unpleasant or with somehow any fraud associated with transfer passport data for (KYC) share with us. Thank you in advance.

I think it is a normal in fiat wallets like paypal. But cryotocurrency is best for its anonymity (as i think). If we need to do kyc, where is our anonymity? I don't like kyc.

[Jaysen0104 536]

Yes we must know our customer before meeting up or selling or making transactions to them we must know if they are legit buyer or scammer. Scammers are everywhere we must be aware.

[Great Commander 659]

Most of the platforms and exchanges requires you to give your kyc must ne reviewed intensively and correctly first before giving your personal information to them. Not a fan of kyc, but lots of legit wallets such as coinbase have a mandatory kyc. 

[setifien 1016]

I think there is no problem with such procedures made by exchanges/services website, they want to assure that they are not invaded by bots/multiple accounts, malware attacks...etc 

But they mustn't share these personal information with any other side 

[aqua 773]

22 hours ago, Joker said:

I am always wary of KYC. Recently, many exchanges and sites require it to pass. Do you think it is necessary to be afraid to provide documents and if so what problems may be with this ? If who rebuffed with than the unpleasant or with somehow any fraud associated with transfer passport data for (KYC) share with us. Thank you in advance.

Yes, it is normal if we are afraid of KYC because we don't know if they can protect the member's document or not. Besides that, we heard that many customer data had been sold in the dark market, so that makes us will avoid the exchange, which requires the verification to be the full member. I think we can search for the exchange which does not require the KYC, so we don't have to send any document to them. But if the site can protect the member's document, I think that it will be okay if we verified ourselves. So there is no need to be afraid of KYC.

[Zzoro6110 19]

I stay away from any platform that requests documents
Because they are not government authorities to ask us to do so and may sell this information so I do not trust it

[Migo 7946]

I don't use this too much, because in my opinion the KYC system is not safe especially in the suspicious sites, usually when I see some site requests for kyc I leave immediately 

[Jokeer 648]

I think that KYC is helpful for both cryptocurrency exchanges and their customers.
due to its a security blanket for exchanges that want to conduct due diligence and for customers to do business with fully compliant exchanges.

[suzuya 945]

I still haven't encountered sites that uses KYC system. It is better for us to keep our identity to ourselves because that's how we can assure our safeness and privacy. But also, having KYC makes other people safe from each other because we can easily identify if the people is legit or not.

[Muphin 459]

Not just one people must provide their documents. I think both sides must show their documents so that both sides will trust with each other. Both sides must be transparent to avoid being scammed.

[Sahbana 212]

I have no problem with the KYC process as long as I give it to a trusted site like Luno and Yobit.
I would be more careful if an untrusted exchange website asks KYC.

[ASDFGHJKL17 267]

It's better to know your customer to know what kind of deals he or she wants and knowing you costumers will give you a better selling/trading conditions. 

[Agios 1763]

Exchange sites must follow local regulations so use KYC. know the identity of the customer, monitor customer transaction activities including reporting suspicious transactions and has become an exchange obligation to implement them. KYC can also anticipate money laundering crimes in the crypto world.

[soupster 239]

Yes, you should alwayd be wary of such things and be pn constant alert. Goving kyc is a very serious thing and you must carefully check whether the exchange is to be trusted before you gibe them any of your infos.

[faceless 296]

All regulated exchanges are going to have to implement KYC as a demand of the governments, In later years people will trust regulated exchanges more than unregulated ones. But if i'm been honest people needs centralized exchanges even though we hate KYC.

[Akbor 1042]

Mainly kyc is secured for reputed site. it may harm if anyone submit kyc documents to any scam site. so before doing kyc all should be aware about the platform where he submitting his all documents. 

[CryptoBoy20 170]

KYC is a good option to avoid scam. I have no problem with kyc because good project always required kyc. But we shouldn't do KYC without reputed or trusted website.

[MCSGlegend 2210]

I believe that you should provide documents only if you withdraw amounts from $ 5,000, with withdrawals below $ 5,000, it makes no sense to do user identification, since there will be a lot of such.

[Sumayya 493]

Data's are sold for huge sum of money, you should give your data to only exchanges you can trust. Some are not trusted

[Iamstrong 563]

I do not use exchanges that require to know your customer because there is a chance that this data will then be in darknet for sale and an attacker will use it and make you guilty.

[Mursanna 211]

I am not afraid to provide document data for kyc, if I have checked the exchange and it is appropriate that I register, such as zt.com exchange