Why kyc is need and its important ?

[Sapdrx 469]

2 minutes ago, laska smrtici said:

If you use cryptocurrencies, I do not advise you to activate this option on any website or platform because this may cause you some problems.

I would say it's an extra precaution that in case of loss of passwords or passphrases you can get access to your funds with your identity.

[Dmasked 1840]

KYC stands for Know Your Customer. Its a tool used by ICOs and IEOs to identify and authenticate its users and the region they are from. Some of the exchanges requires kyc to remove the minimum transaction limit but most of the exchanges donot require it and it is risky to fill the kyc for unknown airdrops or projects.

[noor job boy 77]

Actually I'll gain knowledge about it and tell you later. Because I don't know too much about this. So I have no idea about this .  If anyone knows about this, tell me, I can tell everyone later.

[Dawood shk 18]

KYC, as its name suggests, is utilized to distinguish clients who take part in airdrop or who are utilizing an activity on the crypto advertise, with the reason, they state, to stop the event of SPAM. Likewise through KYC they can distinguish the nation of inception of a client, being a few battles wherein the enrollment from a specific nation is disallowed. 

I concur with kyc with regards to trades, not airdrops.

[Upright 2688]

The know your customer or in short the kyc, is generally being needed by those who want it, as a more defining way to identify you and also to stop double Creation of a count on their sites or campaign

[Captain Karim 0]

I don't like this method, many websites ask KYC but this opposes the idea of privacy and anonymity that Satoshi Nakamoto adopted when inventing bitcoin.

[Mohstapha 16]

kyc is essential to recuperate reserves if there anything incorrectly happens like loosing the 2fa and so forth so they will help you in any sort of issue in the event that you are confronting.

[Mukty112 68]

I think giving our personal information to airdrop that was not good. I am always try to avoid kyc system    . And if that site are scammed then it was more risky for us.

[AmazingLicense 46]

I don't believe that KYC is needed or it's important.

KYC shouldn't exist in crypto world.

Crypto is about simplicity and anonymity.

[Balegi 112]

On 10/17/2019 at 8:40 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

May be to avoid fraudsters and scammers and fakers, to keep track of every one identity.

[Cammer 4609]

It's actually very important if you face a problem with your money. You can recover your funds with KYC I think...

[ahmed albasha 5]

Hi

Know your customer (KYC) is an important measure, following most sites that offer financial services, whether trading platform or self-employment, to avoid money laundering operations or the use of stolen payment methods.

[Grandmaster 245]

On 10/18/2019 at 3:40 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

As a principle I won't do KYC but of course there is always an exception, I don;t so KYC to airdrops, bounty campaign and ICO I only do KYC for exchanges, trusted exchanges that has compliance to the country where they are located because from there we know that our identities are safe.

[MohammadMohsin 569]

Kyc verification is really important cause it makes sure that your account is fully secured and also the transactions are secured too. So that's why it's important. 

[Goody28 259]

Dear mate the reason why the sites are requesting for kyc verification  I think its requested for authentication and proof of ownership   of accounts and to know if the user is a genuine or not

[Karani 99]

Crypto service providers use KYC to prevent fraud on their platforms. Attempts to control criminal activities on these sites increases trust from their clients.

 

[Sumayya 493]

16 hours ago, forhad khan said:

As yes absolutely right you will get good profit if you deposit in the yo bit and invest it this is good for you. but i didn't recommend you to submit your K Y C for airdrop. It's very high risk.. 

For airdrop there should be no KYC, but for exchange like binance you can give them your KYC data.

[Yarling Alvarez 254]

In simpler words, Know Your Customer (KYC), this method is applied in many companies today as a measure of security, reliability and fraud prevention. In the case of ICOs or Aidrops, which is important since it is a method to avoid piracy or multi-accounts

[energyl33t 443]

For first what KYC gives you is a safety of your account, and KYC can give you some bonuses for verification

[Efs 164]

They produced a ridiculous system called kyc to find stolen coins and catch calans and to reveal money flowing to terrorism, but the problem is that people who do this from kyc Everyone was affected, except for. these people can still easily trade on the stock exchanges with fake information.

[Robin Babu 5]

I think it's important to have a security. I think this is where our security or information can be collected.

[Win 1015]

It is a one way to know thier costumer but i really really hate this procedure as i see this i that requires in one platform.or exchanger i am avoiding it.i am too scared in the possibility of stoling my data

[Alex60 27]

I actually thought less of the post you made because I am new here but thank you for posting that I have come to know a good deal because of this post.

[Gg233 1061]

KYC can prevent those illegal country or those restricted country to trade in an exchange example those country that consider as an communists that have illegal activity.

[NAFIS287 353]

Sorry brother ..I really don't have any idea about kyc..

Now I will read comment and I will learn about KYC 

Thank you very much brother for sharing this type post..