Why kyc is need and its important ?

[federicol17 29]

Basically this is a way for the promoters of the event to ensure that the registered account belongs to a single natural person and is not trying to abuse it by creating multi-accounts.

[alexjobs 228]

Serious companies do it for security reasons. This is supposed to try to prevent us from using your platform to launder money or things like that.

The truth, although annoying, is important to do them, since in most of the pages that I have known, when you do not do the KYC they do not allow you to make withdrawals and your money is frozen within the platform in question.

[kidblinblin 24]

The KYC (Know Your Customer) rules and from there we will start to understand their importance: These are procedures to assess and monitor customer risk, which incidentally are also a legal requirement to comply with anti-money laundering laws. More importantly, KYC is a fundamental practice to protect organizations from fraud and losses resulting from illegal transactions and funds.

[SergePhobia 94]

Kyc is only applicable for all centralized exchange platform and sometimes become a requirements to some of the project in cryptocurrency for them to receive their rewards in bounties, just like that mate. But on dex its not needed at all.

[Vilson25 6]

Personal experience- only thanks to kyc I was able to prove on the Binance exchange that the account belongs to me. Do not be lazy to go through it!

[Dorjoy12 8962]

14 hours ago, Cryptic said:

KYC or also known as Know Your Customer is a policy that the bank impose since there are concern of any criminal act like money laundering in any financial services so they required it to any user of that financial services, so if one of the customer did a criminal act then they could easily track the suspect since they have personal information of every one of their customer. 

@Cryptic you Are right friend..usually bank take the kyc from its members just for the security so that the bank authorities can caught them out if they do any mistake.. Again different legit site take kyc from us just for their safety as they also give us loan to do trading in crypto world.. Also many investment site which is legit take OUR kyc.. But we need to be careful about our kyc as some times bad people can take our kyc for doing bad thing..                     

[lio3 4]

My opinion with the kyc one
 can identify the country 
or origin of the user since
for reasons of false identities
 or using multi-accounts on a page 
prevent bots

[el.afinogen 9]

The whole purpose is anonimity so people can do even scam using crypto even though nobody loves scammers. Boycott KYC and KYB!

[simonsilva823 53]

Verification of personal identity is necessary and of the utmost importance to respond to project administrators that we are legal and not fraudulent investors, it also provides us with the security to recover our account in case of account loss.
 

[Dulceprincipal 10]

I believe that the KYC is necessary to ensure the identity and origin of the people who participate in an exchange or make transactions from a wallet. It also creates an environment of trust among those who do business on said platform.

[Yuberperdomo 28]

Since I registered with the first exchange that was in binance, I have found the kyc very good. Well, we are giving our data to have greater coverage and security in our exchanges. I agree with the KYC in the exchange, airdrop

[Teresa112 37]

KYC provides information about that user.  It will share your basic information including your country, your details, your mail id etc.  So nowadays a lot of airdrops are doing KYC because they are trying to find out about the initial information about the user whether he is in the restricted area or not thanks. But you always have to be careful.

[MohamedDawood 23]

On 10/17/2019 at 9:40 PM, Syedbesharat said:

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

In my opinion it is very important to keep security and baned the fake people on airdrop.

[Yoobitlover 30]

Kyc is important for the site who provide different service mostly in airdrops kyc is required must beacuse looters make multiples account and this is for avoiding this.

[carlos291 76]

On 10/17/2019 at 3:40 PM, Syedbesharat said:

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

Some exchanges that have p2p person-to-person exchange as it is in the binance exchange for this it is necessary to have the kyc approved and that the platform requires it as a security method, in that case the kyc is very important, but if an airdrop kyc asks you, you should investigate a little where you are going to send your documents

[ebuald5 14]

KYC is very important for all projects, because they must know their users to offer them good security and strengthen our accounts. Furthermore, this avoids the creation of excessive accounts created for malicious purposes, thus having a cleaner platform.

[Mahadi hasan Nayem 31]

Kyc is needed because in crypto currency no one knows any identity of others ! So as a exchange they want to know their customer ! They tell customer to complete kyc to collect customer information

[Cryptic 0]

@Dorjoy12 yeah friends, that's why I'm highly expecting that the financial services like exchange has a strong security since they have our money and personal information, because they stored this kind of things then they are also prone to hackers. But I think they have since those are their requirements to build a business that has something to do with financial services.

[Dorjoy12 8962]

5 minutes ago, Cryptic said:

@Dorjoy12 yeah friends, that's why I'm highly expecting that the financial services like exchange has a strong security since they have our money and personal information, because they stored this kind of things then they are also prone to hackers. But I think they have since those are their requirements to build a business that has something to do with financial services.

@Cryptic  not all the exchange site  ask our kyc because those site is not  much famous or popularity but some exchange site which has enough popularity and old enough they love to use kyc for Their security you know.. Also Some airdrop asked your kyc but be careful from kyc airdrop because most of them fake and they stole your information..                 

[Poezdec 1]

Perhaps I'll say a very obvious thing, but it's really important to weed out scammers. When airdrops occur, this is a protection against one person making multiple accounts. For trading, it is necessary to confirm the identity of a person in order to manage their money.

[nikitiy228 65]

KYC need to prevent illegal activities, such as scam. But it is always better not to leave your data on many sites. Because the main advantage of crypto is its privacy. When you complete KYC, this advantage, unfortunately, disappears.

[cesarladino1515 60]

The KYC challenge what cryptocurrencies profess about privacy but these years so many scams have occurred that it became necessary to avoid this and that is why decentralized exchanges arrived but for an airdrop to ask for KYC that is super rare.

[expert_para 80]

Kyc is important to know if a person is trading under a real or fake name.Because cryptocurrencies are used for negative business.Most companies require Kyc to understand who is doing these by the States and Stock Exchanges.Because they want to take legal action.When the state asks for an account one day tomorrow,they want to present the documents in their hands.

[lllife 32]

It should be noted that not all airdrops and bounties, and not all cryptocurrency exchanges require KYC. But why do they do it - some of them want to comply with official requirements to collect our data, others want to resell our data on the darknet. Notice how many sets of documents, including selfies with a piece of paper, are sold there and you can draw conclusions. 

[OMAR RODRIGUEZ 48]

The kyc is very important, it is used to verify our identity well and know well that if we are the person who gives our data or not, this kyc is also done to avoid multiple accounts, we have to be careful where or to whom we give this data eye with that.