Why kyc is need and its important ?

[elizabethdlock 213]

On 10/18/2019 at 1:40 AM, Syedbesharat said:

Now a days every exchange and airdrop diffrent sites are requesting  KYC  .what they do with our KYC.kindly reply dear members

If any exchange need a kyc verification than we have to submit our document so that they can verify our account. They use our document to verify our account I think but we should give our document in Airdrop project because most of the Airdrop are scam in now day's.

[Sayma11 16]

I think, KYC is a very big risk for identity.  You have to imagine it right.  Because kyc scam confirmed on the site and this site uses your card ID in cybercrime.  Through it the social media site can verify and take your counter.  So be very careful and aware in this direction.

[Zaino34 0]

There are a lot of people who do not like working on sites that request KYC, they fear for their information and privacy, and I also do not work on sites that request KYC

[lifelline1262 15]

Kyc is needed to verify the real member of ant community this will help to make things easy for the sites

[Rifade01 6]

I know KYC validation for exchangers and wallets is very important now because there are so many spammers nowadays they use fake details to create accounts on the exchanger.

[DokAgsikap 145]

It is important for the company owners so that people would not cheat the campaigns they are doing or joining. But i am against with this because they can use our identity in bad things that we might not know.

[Shorif4455 0]

I do not recommend you submit your KYC for Airdrop. It is very high risk. Your personal data should be kept secure. Don't sell it for some penny. KYC is required to be AML on the exchanger. If..

[Luismare135 2]

in point of fact I don't truly like KYC. But about cryptocurrency exchanges or projects make hardship to move out through that course of action to make somebody's acquaintance the set of laws in their sordid countries as a result I presume even as the swap over or plan ahead is effective I will organize the KYC process. For airdrops it depends, for case like XLM Airdrop on blockchain and coinbase of lessons badly card KYC and I force not pitch on nearly airdrops, depending on how the airdrop is.

 

[cryptousd20 141]

It is to verify that you are one person and not two people and verification is a good thing for your account and to ensure your finances on all platforms and to protect your information from any external damage so checking out an account is a good thing

[malik6314193 5449]

I don't know about kYC. As i am beginner and i don't have much knowledge about that but I'm improving my knowledge through this forum. 

[George10 9932]

Yes KYC process is very essential to go through especially when dealing with cryptocurrency because it protects against fraud or scam activities to go through in that certain platform or site where it is requested.

[Joni888 23]

May be i am wrong Kyc is required just when you have to overhaul your breaking points as far as withdrawal in the trade, or it is required for you to get your abundance remunerates just, however don't simply present your kyc at the new trade in the market make a survey or research first.

[Raqeebzy 6456]

KYC is fantastically notable to delete scammers from crypto world, But how are we sure how information are safe? By KYC verification argument and a lot of ICO admin bottle verify that you are officially wish for to carry out control with them consequently KYC is important.

Edited June 6, 2020 by Raqeebzy

[BitcryptoHan 2557]

KYC have no importance. So far I can invest and trade on no KYC exchanges and wallets. I don't see it importance. 

[Joni888 23]

I unquestionably don't feel that is the situation. Programmers don't have to have any relationship fit as a fiddle of purchasing and selling with the exchange to hack it if they need so change requesting KYCs don't have something.. May be i am wrong 

[Sapdrx 469]

KYC is also very useful in case you lose your passwords or passphrase.  When your account is connected to your id it gives an extra access method in case of emergency. 

[Riazkhan 1]

It is more important for more sites to become not scammers in the mean time .Thanks for bieng here and for sharing your love.

[XMan07 6]

Its to prevent banks from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities. KYC procedures also enable banks to know/understand their customers and their financial dealings better which in turn helps them manage their risks prudently.

[Abiaan 1209]

KYC is for people like me who is trading and associated with cryptocurrency even after being on the country which has totally banned the crypto currency business

[Hanan951 841]

On 2/6/2020 at 3:57 PM, Nehak said:

There are many exchange who took their users money and also those exchange are targeted by the hackers as the very famous exchange like cryptopya is hacked multiple times.

Can you please tell me more about these exchange to avoid them as I can ? 

[Altcoinfan 448]

I would not provide KYC to any airdrop website since I don't think they need such detailed data about me. I think  all people should stop provide such data to such websites and they will learn their lesson.

[jekich.chan 1439]

I am sure that KYC is superfluous. When we go through KYC, we confirm our identity, that is, all anonymity disappears, centralization appears. And the main idea of cryptocurrencies is decentralization.

[Vivek1997 437]

Doing kyc provides information regarding that user. This will share your basic information including your country, your details, your mail id, etc. So many airdrops are doing kyc nowadays because they are trying to know about basic information about user that if he is belonging to restricted area or not. Thank you.

[BitcryptoHan 2557]

I don't know the reason. There are some wallets and exchanges that don't support KYC. 

[AshikSakib 5]

KYC means know your customer. Many exchange ask KYC because cryptocurrency now used in different ways. Some of them crime. So they want to identify everyone. But many airdrop's ask KYC for useless cause they will go in short time.Thanks...