Why kyc is need and its important ?

[Edwinvicky 819]

I think only Yobit has no kyc which some people prefer while most of the exchange has kyc and many people don't like disclosure of their information.

[Ivanvlad4 0]

I think KYC is important because it gives you security, as we are not completely safe and we prioritize security first. And KYC is good for both parties, not only for members to be safe, but exchanges have member control with each kyc made. I think everyone wins with that, so it’s good.

[Johermi 1170]

I think it is very important for serious projects to eliminate multi-accounts since a person if he has two accounts with different KYC with the same IP is totally legal because two different people

[Goyaa 2414]

Some local exchanges need to verify KYC to be able to transact between crypto and fiat, a rule set by the government as a condition for using local exchanges. I think for this reason we can accept it. For airdrops with KYC conditions, in my opinion, there is no need, if you have to use KYC you have to use KYC, it's definitely a fraud.

[matias estigarribia 1605]

The KYC is very useful to avoid multi-accounts and that the platforms are sure that our identity is real. The problem is that there are many fraudulent platforms that can steal our personal data to do anything so that is a very big risk. We must know to which company or platforms we provide our personal data.

[Bond07 166]

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

Actually they just want to give the airdrop only one account per person. But people still joining those airdrops with all the family members kyc. On the other hand, People now think if an airdrop asks for kyc, it is real. So many scam airdrops are also requesting for kyc.

[Zeshan Khalid 2577]

KYC is useful is tracking the payments of a user. But it must be done only by reputed sites. All sites demanding KYC can be a serious threat to privacy of a user.

[cryptolover45 1187]

KYC needed a Airdrop, Bounty project, ICO and IEO project because restricted country can not participate the IEO and ICO. At Airdrop and Bounty project need a KYC because many people create a multiple account, so that people cunt do that.

[VijithaVarghese 1994]

There are lots of risk with any efficiency to make bigger and easy profit. This inorder to protect the funds KYC is important. It's the real security aspect behind our funds. Inorder to keep our funds safe it's important for KYC to verify.

[Joseph J 608]

Know Your Customer (KYC) It is the practice that companies carry out to verify the identity of their clients,, complying with the legal requirements and the rules and regulations in force.KYC it is important to know if you are real person who registers on a platform, this avoiding scammers,KYC platform that is the centralized exchange. Some platforms are not necessary and are governed by other security standards such as Email code and Google 2 Factor Authenticator that will depend on the exchange using KYC to provide access to larger amounts of transactions and VIP users.

 

[wassim19 645]

In order to make sure of the identity of people and that fraud does not occur, as well as not using bots, it means that when the site confirms that it is a real person, it gives you an airdrop

[mias15a 1102]

On 17.10.2019 at 22:40, Syedbesharat said:

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

KYC is "Know Your Customer". I admit, that it is uncomfortable, but adequate in terms of gifting people money for subsribing some instagram or telegram channels.

[glyk85 166]

Kyc is required by some countries to run a financial institution but it is not required from projects and I have seen bounties and even airdrops asking for kyc something that is against why we are using cryptocurrencies as we dont have to give our identity to somebody to transact

[Amiami 1362]

As a general rule, a kyc is intended to verify the identity of the user, in order to avoid money laundering, however, airdrops or reward campaigns sometimes also ask for them, in those cases there is controversy since many  Sometimes the data is stolen and then sold, my advice is to only send kyc to platforms that are reliable, for example an exchange such as binance.

[Ndayebo8 0]

I think the same way.Now our data is been used for manipulation .Most of new exchanges and air drops suddenly disappears with members data.So we have to be alert from these scammers to save our data.

[Ndayebo8 0]

Now maximum exchange site are asking for kyc also some site at the stage of ico do kyc. kyc is very important to ensure the security of the account. if any account lost then you can recover very easily if the account kyc is verified. The kyc exchange are secured as the scammer don't scam here.

[Tom Brandon 226]

We have seen some cryptocurrency project ask to complete kyc verification.To prevent spammers from their project they ask for kyc.From kyc verification they can know who is real person.

[Malik9532 1276]

Sorry friend I don't give you any suggestions about this . Because I don't have more knowledge about KYC verification . KYC verification is a big risk for your identity . Can anyone explain about KYC verification with me  ? Advance thanks .

[Mansoor sumaan 29 0]

I don't think so that you should do kyc for the airdrop and bounties. I think they are all scams airdrops of which require kyc if you will do kyc there then it may be a kind of scam with you and you can be scammed easily so please don't do that. Basically kyc is not required on the airdrops so you have to be careful about that.

[freelancer 900]

In reality, I do not absolutely like KYC. However, a few cryptocurrency exchanges or initiatives do want to undergo that technique to meet the policies in their base countries so I wager at the same time as the trade or venture is working I'm able to do the KYC method. For airdrops it relies upon, for instance like XLM Airdrop on blockchain and coinbase, of the route, I'll skip KYC and I might not skip on some airdrops, relying on how the airdrop is.

[cryptoman22 1026]

On 10/18/2019 at 6:39 AM, kjames said:

kyc is very important to recover funds if there anything wrong happens like loosing the 2fa etc. so they will help you in any kind of problem if you are facing.

If I agree with you since if it is a platform it would be the KYC it will be very important in case of loss of Cryptocurrencies but I also think there are many airdrop that ask you for the KYC simply to collect data where you are never interested in anything
A big greeting to the whole community and good luck to all

[1qDan 478]

KYC is supposed to be requested by exchanges as a means to avoid money laundering or targiversion of funds, but in the case of airdrops, it seems totally unnecessary to me since it is supposed to prevent abuse but for me , it is just an excuse to steal data and resell it on the darknet.

[godislovefll 1880]

If I have asked myself that, but I do not use much jyc in unknown projects, I fear that my identity will be misused, but of course I understand on the other hand that this is requested to avoid the creation of multiple accounts in some project or platform and it is a very good security measures.

[betelihem 4766]

On 10/17/2019 at 10:40 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

You are right this days most airdrops and exchanging sites asks KYC verification, and airdrops asks KYC because they try to inhabit multi account for one person, and exchanging sites asks for making our accounts more sfe for us, but personally i don't like KYC because its bit complicated.

[Pranto1 40]

This may prevent you from using the exchanges intentionally or unintentionally.Nowadays everything becomes virtual and you don't have to go out of your house to open an account and if you want you can open an account on the other side of the planet but the problem remains the same.You need to KIC to enable you to withdraw your tokens for the cryptocurrency giveaway platform.