Wallet vs Verify

[Saj555 2250]

KYC is a very good process to verify the identity of an user. Through the KYC a user can easily give information about him so that the authority could have a trace about that specific user if he does something unpleasant. Actually kyc is needed only in some legit wallets. This is actually essential  because if a person give kyc information then other can feel safe also in using that wallet and also the storage of cryptocurrencies will be much safer that way. 

[scorpiali 5626]

On 1/31/2020 at 9:34 AM, huyasdad08 said:

There are only a few requirements for kyc. But I don't like it. They only collect our data and say it is for security purposes only.

I think it's a good way to secure your wallet to verify it that's why the majority of wallet ask for verification the most famous of them it's not just like that or collect your data Coinbase and Blockchain wallet 

[Calvinpriva 17296]

I think there is no any problem for wallets to use KYC or other projects. KYC verification is the top security that used by site owners to secure their sites by ask their users to upload picture of their documents so that they can have full details about them.

[yuwira 0]

There are innumerable wallets out there in the app keep and playstore. however not all of them are verified wallets. One ought to use verified wallets so that you can maintain his cash comfortable

[scorpiali 5626]

On 5/14/2020 at 8:33 AM, yuwira said:

There are innumerable wallets out there in the app keep and playstore. however not all of them are verified wallets. One ought to use verified wallets so that you can maintain his cash comfortable

I know just two wallet who ask fr the verification ,the Coinbase and the Blckchain wallet other wallet dont ask for verification and the majority are application and dont have a website version like other wallet 

[Thekingcallme 1975]

I the wallet I use does not ask you for any verification and I believe that the wallets that ask you to confirm your identity are trying to control the crypto and delete the privacy feature

[BTC Future 3946]

On 1/16/2020 at 10:25 AM, Beeba said:

In my opinion if you wnat that your crypro coins is more secure then you must be used KYC option and provided all documents which wallet demanded. If you do use the KYC option then you use all feature of this wallet.

I suggest you must be provide KYC.

I have a different opinion having seen how all these services treat their users private documents. I recommend not to pass any KYC and take some extra steps to never sent any private documents online to anyone, unless you want your data to be sold in the darkweb and the police to call you some day about debts on your name from fake credit cards produced in your name.

[BitcryptoHan 2557]

On 5/16/2020 at 4:21 PM, Shakill33 said:

I would love to know why KYC checks wallets the most online.  What is the problem in allowing users to use the wallet without KYC verification?  I think that's why they want to stop creating multiple accounts that are trying to get users information.  I don’t like to do KC for wallet use.

@Shakill33 only people that do not know about wallets use KYC wallets, I have never used it before, I prefer no KYC wallet like electrum and atomic wallet, and they are safe to use. Even hardware wallets are not KYC but also non custodian wallet

[magd 5231]

Verification is a very important step, especially when it comes to the wallets that will put your money in order to protect money from theft and prevent the penetration of your wallet as the verification proves that you are the only person who manages the mail and the wallet

[nykas 2812]

I think that the most significant reason why cryptocurrency wallets require users to pass KYC, because they want to avoid abusers because most of them earn a lot of money on wallets airdrop events 

[BitcryptoHan 2557]

2 hours ago, Majeshi said:

Many wallets and other projects are now using KYC security to protect their sites from scammers

They are not using KYC to protect their wallets from scammers, even KYC wallets are more risky and not safe like no luck wallets. Do bot get this wrong, KYC are for recovering of wallets and also to know about their customers. 

[Treat1234 0]

Using kyc is another form of user verification if you lost your wallet you can retrieve your wallet using kyc verification you provided earlier .no any third party can access your wallet information.

[Yomose 3704]

16 hours ago, Treat1234 said:

Using kyc is another form of user verification if you lost your wallet you can retrieve your wallet using kyc verification you provided earlier

On non-custodial wallets, you can use seed phrase to recover back your wallet and cryptocurrencies stored in it. 

16 hours ago, Treat1234 said:

no any third party can access your wallet information.

What tells you that there could be no data breakers? You are not right about this. 

[Brand1 1336]

KYC is one of the security systems that many websites use for the purpose of verifying the user’s identity and protecting it from penetration or theft, but during the recent period, fraudsters used this system to steal user information and use this information in all illegal matters and for this reason I hate this system and do not prefer Join the sites that you request

[BitcryptoHan 2557]

9 hours ago, Brand1 said:

KYC is one of the security systems that many websites use for the purpose of verifying the user’s identity and protecting it from penetration or theft, but during the recent period, fraudsters used this system to steal user information and use this information in all illegal matters and for this reason I hate this system and do not prefer Join the sites that you request

@Brand1 which illegal matters are the stolen KYC used for? 

We need to talk about this by even opening a topic for this. 

[Zaino34 0]

Most sites and wallets use the kyc feature in order to increase their level of security, but I do not like a lot of people prefer to use wallets that ask them to kyc so they do not share their private information and I prefer to use wallets that do not require kyc

[Jessica Karren 1242]

Crypto wallets needs KYC verification from their users to identifying and verifying the real identity of their customers. The use of cryptocurrencies for money laundering and other illegal activities led the authorities to apply KYC on the crypto market and services. But my suggestion is to always do KYC if the platform is trusted and legit otherwise hackers can use your personal information in wrong way.

[Honny143 13612]

Some exchange and wallets wants to do kyc, because they want their user loyal and not do any scam, so they verify the user details so exchange not gives withdrawal, when we not complete this kyc process mostly we see airdrops do this kyc compulsory, because they wants only single person use this benefits not multiple fake accounts join their airdrops, in my suggestion do kyc if you think its genuine platform.