KYC-Know Your Customer

[Oluwaseun 522]

Very important and very logical as well. This must be done to know the caliber of people you are dealing with. Because this can have a very lasting determining effect on the growth of your vision and the organisation as a whole and we know Crypto Currencies need very tight security check because of hackers.

[Shahud 1319]

kyc standa for know your customer.most of the wallets made mandatory to complete the kyc.and to complete it we have to upload our identity card and selfie of the same card holding the same person.once it is verified by the wallet team then we can hace transactions through the same wallet

[Pearls Before Swine 815]

Exchanges are required to collect this information if they want to operate in their country of origin.  They generally don't have a choice in the matter.  But would I trust all of these exchanges with my personal info?  No, I wouldn't, which is why I've never gone through the kyc process with any of them.  There are still some exchanges that don't require it, but they're rare. 

 

I'm always scared my info could end up on the dark web for sale.

[Romaan1987 601]

Just now, Gogular said:

with the basic of charge client records and construction it confidential without exploiting it in other matters.
 

Yes it is confidential matter, but in most cases the less trusted sites sold out our data, which is concerning, we have to be careful regarding KYC.

[ShakilA 373]

KYC verification is very important for all company or cryptocurrency platform.Recently many scammers use fake identity to cheat people.To prevent spammers KYC very important

[Ahmedabdallah12 169]

You should do kyc with trusted exchanges only , not all exchanges you know , but I prefer not to do kyc , I prefer hiding my id 

[khan22 3478]

On 11/11/2019 at 1:39 PM, 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.

Now this time so many exchanges need KYC and they allow us withdraw on that time when we complete the KYC and this is not good but i just say that if we make an account in the new exchange almost the new exchanges are fake and the KYC rules are just introduce the new exchanges.

[McCree 713]

Not all exchanges store your documents safely. Imagine if a KYC exchange got breached then not only will the coins be stolen but all of the identities and passports of the users to which amounts to identity theft and is worse than losing all of your money.

[patitaycute 648]

KYC has also a risk of losing basic information and I am not agree on this system of KYC. Although, I find KYC a fast way for every transaction.

[Sumayya 493]

46 minutes ago, patitaycute said:

KYC has also a risk of losing basic information and I am not agree on this system of KYC. Although, I find KYC a fast way for every transaction.

You can lose your information and data if they don't store it well, which is bad enough and I hate KYC

[Luciferludz 1442]

8 hours ago, Esha23 said:

KYC is really very irritated for me i don’t like it though it was a good system for your security but still it was tough for me Sometimes i can't verify it properly   

KYC verification is really good in the our accounts securities but actually its really bored to verifying them because they have too much complication

[Satya31 865]

Only the kyc is useful to knowing the customers. But what is the need to know the customers. In the market of Internet everything is happening without knowing each other. Then why the kyc needed. If it comes the question of fraud then there is many other ways to restrict the frauds. The next thing is the bad person can sell you data to others and they can misuse it. So i never suggest to do kyc. 

[miskyming 1588]

It is really risky if we submit the KYC to the exchanges, we never know what will they do after we submit it, they can sell our information or trying to access our email accounts. It's better to register a non KYC exchange there are many of them.

[Linkkoin 116]

1 hour ago, miskyming said:

It is really risky if we submit the KYC to the exchanges, we never know what will they do after we submit it, they can sell our information or trying to access our email accounts. It's better to register a non KYC exchange there are many of them.

Fewer and fewer as the times go by, as payment systems providers simply refuse providing you services as you have no KYC.

[Casinoval 330]

I don't like sites that compelled their users to KYC, they take your personal information and sell it to the highest bidder, I avoid them the best way I can.

[Investors Blog 385]

I am no fan of KYC that's why Yobit was my first exchange and i learned all the basic things about trading in yobit platform. My 2 best nonKYC exchange platform is Yobit and Crex24 both are nice and had a good user interface and fast trading engine.

 

The only exchange i complete my KYC was in blockchain.com and coinbase and binance. other than those 3, i will never entrust my KYC to other unknown entity.

[nicolas1234789 2566]

I more prefer to use KYC program to get maximum protection about my account. In exchanges side KYC is safety to avoid scammer, if something goes wrong ( money laundry, selling drugs, etc ) exchanges can track who involve and report it into law enforcement.

[dinabolt 514]

They can sell our data for illegal activity and everyone don't want that happen. Users only afraid about this because they don't have any control about their private data and account. If something bad happen you are the person who get trouble not them.

 

[whymeidontknow 676]

My friend had a situation when he sent his passport data for verification in order to get 50 dollars for KYC on the exchange and then in the end he was issued a loan. So I don't pass KYC anywhere

[DreamStage 2105]

If the country you live at does recognize Bitcoin as a valid currency (legalized for self profit usage) then i would not be worried about KYC at all as i feel more safer considering my government just wants to validate where my source has come from and if it was indeed legal or illegal.

Also protects me over some bad people that uses for bad transactions such as buying drugs.

[el-Muhammady 718]

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.

You don't need to be affraid of anything. Just forget and make your exchanges is yobit.net it is safe,fast reliable and doesn't ask of KYC . So I will recommend yobit for you if you allow me

[steve197 522]

simply don't do it if it's not an trusted site

otherwise don't do it

i can understand how it's important to prove that this person is legit and not just a scam

if you want to open an a bank account they do that also

it's the same thing 

when you make a wallet or a profile on a trading platform you have to prove your identity 

it's money not a game

[Usman Abdulmumin 354]

Nothing to afraid by providing our document the Exchange or wallet, they can't do anything with it except to know who are you and where are you from. But me i don't like anything else that has a KYC verification before using.

[Dolpharius 675]

10 minutes ago, profpank said:

I assume that KYC is supportive for both cryptocurrency trades and their customers. Because of its a protection cowl for trades that need to conduct due perseverance and for customers to do commerce with completely compliant trades.

I believe that this is total ownership control and protection is also the opposite topic for your anonymity - which disappears with this process - all actions are veiled and it seems to you that this is for your sake but in reality it is a total control of you

[Oxygen 1004]

Off course KYC is needs to be afraid as we are giving our most important data to a website on which we can not catch and can not sue in law court anywhere worldwide. Our documents could be used for illegal purposes. Dont do KYC on unknown sites which does not have much popularity and new sites. Always have complete studies about a website where you are doing KYC.