KYC-Know Your Customer

[annayks 2314]

The governments don't trust anybody and want to know where we send our money online. This is why they enforced KYC. About the AML they don't actually care, they just made this law to monitor everyone. I don't see any of these systems working as they were supposed to but they are a massive network for surveilance.

[kryptonick 2659]

On 11/11/2019 at 10:39 AM, 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.

Many exchanges were demanded to ask for KYC because of new regulations about finance. They wouldn't have asked but I prefer not to use them and use the rest like Yobit that do not require something like that. It is unpleasant for me also and most users of crypto feel the same. We are in fear of our data being used for scams and impersonation and no exchange is handling the data safely.

[Jromz 2158]

It has always been a concern of mine to give away my personal information and documents to exchanges, it's impossible to know how safe our information is there. Many exchanges offer different levels of KYC depending on the amount of money one is managing, if amounts aren't so big they're okay with just your name and some general information. Also there are now some interesting innovations like Bright ID that enable users to get verified by means of social connections.

[Onden 2098]

I think we have to be careful if there are exchanges that ask for KYC, but I can't refuse it because I need an exchange to be able to convert crypto to fiat, to be able to make transactions, KYC is needed as verification. In addition, KYC is also used to match bank savings account numbers.

[Cryptic 0]

Of course it is normal to be afraid in providing your documents that has your personal information, since it can use to hack or account and stole all your crypto. But I think it is the requirements of any financial services like exchange, for me the best way to do is to find a legit and secure exchange like BInance, in that way you don't need to worry much, and of course you also need to do something like using a password that don't have your any personal info there like names, and use the most secured wallet like ledger.

[Mark wood 2970]

1 hour ago, Cryptic said:

Of course it is normal to be afraid in providing your documents that has your personal information, since it can use to hack or account and stole all your crypto. But I think it is the requirements of any financial services like exchange, for me the best way to do is to find a legit and secure exchange like BInance, in that way you don't need to worry much, and of course you also need to do something like using a password that don't have your any personal info there like names, and use the most secured wallet like ledger.

@Cryptic agree with you, they want such information even everything like they will in that stage to reach you easily so I think it's not good we have to know about these things and not to provide information because that will be possible to we lost something ..

[Dorjoy12 8962]

12 minutes ago, Mark wood said:

@Cryptic agree with you, they want such information even everything like they will in that stage to reach you easily so I think it's not good we have to know about these things and not to provide information because that will be possible to we lost something ..

@Mark wood  you need to know that kyc needed exchange site is enough popular plus legit.. They will take your kyc for security.. Also its  your duty to take research about those site where you going to submit your kyc..  Usually many airdrop asked kyc but some of them fake and some are legit.. Like you can see coinsbit exchange site giving airdrop 500 usd but you need to pass kyc first  😆       

[BraveHeart01 1569]

I personally will prefer not to earn at all instead of sharing my personal information  with someone because it can be used for criminal purposes.

[ramonn22 731]

On 11/11/2019 at 9:39 AM, 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, dear colleague, I am with you totally and your way of thinking, I distrust many of the platforms that ask for your data to perform the kyc because in the end they are usually scams and they keep your data Therefore only perform kyc with large platforms reputation
Good luck and big profits for the whole community
A big greeting

[khan22 3478]

KYC is the best process in the crypto market in which our account is 100% secured and peoples like the good and best exchanges which is most secure and the transaction is fast. Crypto is the best and great market in the world and soon it is going to be legal in all over the world

[yonkii 3205]

I don't like anything that is KYC related. I found there are people asking for this for some fake airdrops probably they will use it to open accounts in our name in exchanges and can even try to launder money using our personal information. We have to be wary and not allow scammers take control of our private data.

[Masterrex 559]

IMO, I have no problem with KYC as long as it was done legally, and the exchange who required it must do anything to make those data safe from the wary eyes, Our governments is required us to do KYC specially when we are doing banking and financial transaction so there's nothing new about KYC the only difference was it was made by private entity. 

[Alex9876r 1408]

Some platforms when operating are subject to the laws of the country when the country is legal to cryptocurrencies Consequently, it has to request the personal information of its users to abide by the laws of the state first, to secure their money and investments Secondly, some of them are used for statistics, and here we talk about reliable and internationally known platforms. Of course, unknown sites when you request them are considered SCAM and you should not register with them

[The Game 2059]

Keeping identity anonymous in the digital market when trading is one of best options one have made in life because during exchange some site will like you as customer to reveal your identity before proceeding I will advice that is not a good idea either you cancel it or just  forget about it for the safety of your account.

[mzk7736 1592]

KYC is not a problem until the exchange or franchise asking for this is a well reputed one but if it is asking by an unknown website then it's not safe for the privacy of your wallet and other accounts.

[Fa19ba045 453]

if we keep an eye on the history of KYC - know your customer or client,  The KYC program was introduced by the Reserve Bank of India in 2004. The main purpose of this kyc was to protect the laundry of money and accounts from the spamming.  So by giving idea from its history I would think that don't be afraid to give your documents to them because this is trusted and using in banks. 

[SvenIronheart 44]

Some exchanges require their users to provide their identity because it's for the sake of all their users, it's some kind of their way on securing and making each of their users safe. But the essence of anonymity in crypto world will be missing if we provide our personal data to those platforms. I think KYC is not that bad since we can avoid a lot of bad things like being scammed.

[RonaldB 48]

There are many profit sites and platforms that require submitting KYC documents, and these sites and platforms do not deal with them at all, because I do not like submitting any of my documents on the Internet, and I do not know the purpose of requesting these documents from clients.

[Goyaa 2414]

Yes, I think we should always be careful with exchanges that ask for KYC, if it's needed and the Exchange is listed in your country I think it's okay to give it away. The problem that arises from the impact of KYC is that the theft of personal data is very likely to occur. I think if you come across a campaign or airdrop asking for KYC it must be a scam.

[MalikAdnan 1662]

Yes KYC know your consumer. Mostly of the crypto exchange site demand KYC for the exchange and run their site. I never use these type of site. Because in this age scammers are active and attractive. So, please it is very hurdle for us. 

I use that site which have no need for KYC such as Yobit.

[Mcd0d0 5882]

Well, if the exchanger site is legit, you can submit some application for kyc because kyc is a kind of verification to know if you're a scammer or not just to protect their users and also their site but if the site is suspicious, Don't submit any kind of information about fron you.

[khan22 3478]

On 11/11/2019 at 2:11 PM, bitcoin-shark said:

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

Almost the airdrops are fake and that get the data of the peoples and when we submit our data they close their site or they just make that exchange for scamming to make money through their coin and then close the site.

[sarahmoses202020 251]

Many exchanges take KYC very seriously because they will restrict your account from doing certain things. Infact there are exchanges that you can't withdraw from unless you have completed KYC. So it seems KYC is becoming is compulsory stuff in crypto currencies.

[Simon London 1749]

Hello everyone, know your customer is a process of identification and verification of customer identities by companies. In terms of cryptocurrencies there are many of the recognized exchanges like Coinbase Pro that require identity verification and other exchanges that do not request it yet like KuCoin and BitMax,

[The Game 2059]

In term of customers online these days is not something you joke it because there are many ways to scam through your customers, is adviceable every exchange you do online try and be anonymous just incase you did not trust the second party or you are suspecting him of fraud. Lastly always make exchange with a legit company that have zero fraud cases.