Why kyc is need and its important ?

[Honny143 13612]

Present most exchange want to do kyc for withdrawal purpose, are they launch any airdrop, because they check the person who take this benefits real are bot,that's why they want to verify our identity but not all exchange are genuine, so first check exchange legit and the offer is real then submit kyc, because now so many exchange sell this data for money.

[Zues 1069]

13 hours ago, UT2001 said:

I have also been wondering the exact same thing many times as there was a point where I was doing kycs like crazy for many airdrops only then to ask myself that exact question, where does all of this stuff eventually go and who all sees such, I guess we will never know.

Yes I think that you are right and I think that why they need so much information for the users it is dangerous because something so trivial asks for so many information and I think tsht it could be dangerous to give them many information 

[Cammer 4609]

On 2/24/2020 at 9:00 AM, MohammadMohsin said:

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. 

I agree with you. But remember that not every website on the web is a secure website. That means do not give any of your identity verifications to unknown sites.

[Mcd0d0 5882]

Well, KYC is more important today to know if their costumer is legit or not, many people are just using some dummy emails or information just to scammed some people so that some platforms are now securing that their members are safe doe this kind of people.

[Zalaks007 543]

I think KYC are only requested when the amount of withdrawal you want to do is much  or maybe on some faucets sites. But I don't like sharing my KYC because they can be use in defrauding you or get access to your account.

[Zues 1069]

On 5/22/2020 at 7:30 AM, Mohssine said:

I think kyc is something really important in something like exchange or wallet , because is make this more secure , you will be make your money safe, so for me is useful, but in airdrop I think this is not good because this airdrop  need your data , and this is bad and this airdrop Is a scam.

Yes I think that you are right and I think that kyc is need for verification of accounts and I think that it is not that important of you will only use it for worthless airdrops and I think that it is a Scam and I hope that people would protect their security

[Soaib khan 1035]

On 2/13/2020 at 10:02 PM, GRKMAN1 said:

In General, KYC was invented to prevent fraudsters from laundering money and blocking some part of it so as not to spread it out

but some new cryptocurrency project are misusing it they are asking to complete documents verification after that you will get paid otherwise you won't receive any token so many people are completing documents verification

[Rahul11 292]

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

Crypto are anonymous. And mostly we can't trace any transactions. And for this most of the terrorist using crypto as their illegal payment system. If all the user complete kyc, we will easily trace anyone with their wallet address.

[BTC Future 3946]

On 5/25/2020 at 4:41 PM, Mcd0d0 said:

Well, KYC is more important today to know if their costumer is legit or not, many people are just using some dummy emails or information just to scammed some people so that some platforms are now securing that their members are safe doe this kind of people.

Since we can't be sure on how securely websites and projects store our private data, we can't make this assumption that they are secure. Both in theory and in practice it has been proven that most websites mishandle the private information and there have been countless issues and leaks. 

I would never send my private information to anyone online.

[TimopheyKa 3900]

This is a special selection system that does not allow you to get your prize so easily! After all, this kind of airdrop involves various bots, and of course, they need to be sorted somehow, and I think this is the only adequate option!

[Omar Ommeish 4872]

KYC is an additional way to avoid hackers or robots, but there are many people who reject them because they do not prefer to put their personal papers on the Internet.

[Moaz 7239]

I don't prefer doing KYC because most of these sites and airdrops are scams and they are likely to use your personal data for illegal actions and this is really bad so we must be careful

[whatislovebabydonthurtme 23]

To verify that you are not a bot or robot and that you are a real person and you qualify to trade or recieve an airdrop or to participate in a tokensale

[Jromz 2158]

I guess we all agree that KYC is an important measure to prevent crime and having a good record of clients using exchanges, but at the same time, I wonder how safe is our personal information within these exchanges. Many people are not confident with sharing their ID information and are fearful such information can be sold or hacked. There should thus be strict measurements preventing this to happen.

[moatez 9]

its very important to remove scammers from crypto world. that why KYC i

[kotto19 49]

What do they do with our KYC? That is what we all wonder, it is like a double-edged sword, many airdrops are simply lies and only accumulate the information, quite possibly they will trade the information they gather, who knows haha

[Elpipotema 119]

When talking about cryptocurrencies it is synonymous with security, in my opinion I do not agree with the KYC since anonymity is a virtue of the cryptographic world, but although it is true there must be some control to prevent those funds from being used for improper things such as it is terrorism.

[racentenog 61]

The KYC arose to provide greater security to the exchanges and platform, thus avoiding a bit the attacks of robots and malicious people. Although sometimes it gets annoying to check it is very necessary if you want to have our funds secure.

[Calvinpriva 17296]

I think many project owners need KYC so that they can identify real members and fake members, the only problem it's when you will upload your identity to a fake project. So we should be careful to review each project before we complete KYC.

[Cryptic 0]

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. 

[Humberto77 10]

In my opinion, I believe that it is a necessary measure, although annoying, but essential, especially for companies that give away bonuses to advertise and what they want is to capture the largest number of real users, that is, they are not cheated and that a person multiply by 10 for example.
There is also the issue of security regarding the exchange of currencies, since cryptocurrencies are practically independent of the governments in consequence, all security measures must be implemented.
 

[dvorya 68]

KYC - this means "Know Your Customer", that is, the creators of the exchange know who registered on their site.  This is done in order to confirm the person's identity.  If you have any problems , you can prove that the invoice was issued to you

[SALOMON CASTELLANOS 56]

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

In the cryptocurrency market that is of recent date, many people have decided to invest in them.

Among all these people there are some whose funds or income come from illicit activities.

One way to avoid money laundering in any way is with identity verification or KYC that protects both parties.

The company is protected and the customer is protected.

Who has nothing to fear or hide the KYC is a great benefit for their safety

[nana1607 42]

It is used to identify users who participate in an airdrop or who are using an action in the cryptocurrency market, with the purpose, they say, of stopping the occurrence of spam. Also through KYC they can identify the country of origin of a user..

[LoganCano 55]

I try not to participate where KYC is needed.  Because no one knows what will happen with our data.