Why kyc is need and its important ?

[Lucifer 134]

On 10/17/2019 at 8:19 PM, cryptokram said:

If you will do KYC on airdrop then you got a really big problem.

KYC are required to some ICO or IEO so they will know if the investors are from the restricted country which can't be a token holder (i hope they are not a scam team)

About the exchange KYC! some dont ask KYC and you have a maximum amount to withdraw in a day!

In part I understand that they ask for KYC for some airdrops but it is also something dangerous for users that some pages collect private information from them and then can use it for unlawful things.

[teminalibug 309]

KYC is going to be a must on all businesses which are in countries which have regulated bitcoin, and the number is going to expand say to day. KYC is important to the government not to users.

[Cryptominded 704]

On 10/18/2019 at 1:00 PM, Mathers said:

I try to avoid undergoing KYC  all possible means because of the repercussion it could have if the documents gets to the wrong via data leaked or hacking means. I'll just stick to the minimum withdrawal limit with kyc than expose myself to the risk.

Sometimes they never told you KYC would be necessary to withdraw but midstream and when you already have some fund with them, they throw the requirement at you and you're more or less helpless. It happened to me at Bittrex, Eobot, Kryptosea, etc

[bitcoin-shark 1928]

unfortunately it is true that more and more exchange,ico and airdrop require the kyc procedure, i am absolutely against it, i don't feel like giving my data online to complete strangers, who knows what uses they could do (sell them on the dark web?) that's why i carefully avoid using exchanges that require kyc and doing airdrops that require any data other than social network profiles

[Cryptominded 704]

3 hours ago, Coinlover121 said:

KYC need for your account for verification now many exchange are need KYC verification. KYC is give us more security and safety.

No that is just the kite they're flying! KYC is to full identify you as a customer - in this case a cryptocurrency user, They got all your details including a selfie holding your passport or ID, what more is needed to track you if and when the need arises tomorrow. I can tell most crypto users are going to run into some problems in future  with their taxes from information their KYC would have passed on to the authorities,

[ajizz 195]

6 minutes ago, Bae said:

Kyc is very important when participating in some activities in crypto community, such like trading, and investing in IEOs

what you say is true, KYC is very important but I do not recommend creating KYC on the IEO / ICO program is not a good idea if you submit your personal documents, because they may not necessarily be trustworthy developers ..

[Agios 1763]

KYC (Know Your Customer) is very important to maintain security, such as money laundering and terrorism financing. because it is very difficult for others to fake KYC. So they only verify customer data.

[khan22 3478]

5 hours ago, ogentel said:

Kyc is one mаnner to prеserve a strаtegic distanсe frоm sоmeonе соmmitting аn offеnsе that is been pоsitiоnеd by а tokеn-genеrаting loсatiоn inсlusivе оf Aidrоp... This kyc sеrves to аpprеhеnd аny persоn no longer to junk mail...

KYC is the important section in crypto market because our account is verified through KYC and also our withdraw limit is increased. Crypto is a good market and withdraw limit is so much important because any time our coins go to so much high then we sell it and make a huge withdraw easily on a daily basis.

[Syedbesharat 5423]

On 11/12/2019 at 7:17 PM, Muneeb said:

There are so many scammer now in the crypto market and they are trying to make money through the scamming with innocent peoples. Hackers need passport and also our National ID card i don,t know why but now the scammers and hackers will do this that they make a fake website and then they said to peoples that make an account aand complete the KYC and then they close their system forever and they hid our documents like this.

You are right the scammer are now every where.Becuase of them no one believe in new projects they represent them self like a  real company and do scam.I always check any exchange and air drop details before submitting my KYC .Because i know if they have my information they can do anything to me and my family.

[Anthomy K 446]

KYC was created in order to minimize the number of abusers with different programs by type of bots. But be careful, as sometimes attackers can steal your data when hacking the site database.

[Syedbesharat 5423]

16 minutes ago, Dada said:

Well of course they need to know your personal details so that they can trust us and give us full accessibility but some exchange site do not require KYC and gives you fulll access to the site but you must also be alert to where you are saying yes to a KYC, check first if it is safe to do KYC in that site first before you give it.

I can understand they need mobile and e-mail for verification but making picture with their website/exchange name written on page and holding on your one hind and other hand have your I.D Or Passport selfie is't it over?

[aika 286]

It enrages me because the original concept of cryptocurrency was meant to be anonymous. I understand it is forced on some exchanges to follow local anti money laundering laws, but come on, it should be stablished for big investors, not for someone who put 20$ on your exchange. Plus, your data can be used for another things, or even more, you can have your ID involved on some illegal activity and can get you trouble. Customers privacy should be the gold standard for exchanges but, governments forcing laws on crypto are forbidding them for doing so.

[yifnt 666]

KYC on popular and large exchanges is reasonable because they are already successful, if for airdrop projects and new exchanges that want us to do KYC, we must be careful.

[Te5226 51]

KYC means know your customer. It's important for bank or any authorities who has right to have their customers information. I think we use KYC for security purpose and It's really important to know the Information of customers for a bank.               

[Moon 88]

5 hours ago, vinweati said:

Puting аll сoins in a singlе coin is соnstantly hazаrdоus but сruсiаl fасtоr is thаt аmid which соin you аrе аttеnding tо соntributе. Within the еvеnt thаt yоu'rе considering аbоut оf purchаsing thе first-rаte 10 саsh at thаt pоint it's far о.K. Hоwеvеr nоt hоnеst skip for оnе shоrt shоpping fоr strive tо buy in еlеmеnt sо thаt you essentiаlly оught with thе intеntion tо buy within thе оссаsiоn thаt the соin is going down in ordеr that yоur shоpping fоr vаluе gеt lосated thе сеnter priсe of аnd whilst thе upwаrd dеvеlopment begin yоu must bе in аdvаntаge swiftеr.

Wow a first-rate 10 cash? That sounds awful dear sir. Next time please be careful to not get located in the center price, not so good you know?

[SyntaxEr. 709]

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

KYC is very important because some of the exchanges are dealing with the banks with KYC they can easily know if the person has any problem with the banks. It is also for the security of the platform to protect from fraud people.

[dana33 302]

There are many reasons why KYC is important. One of that is to determine is the account is yours or not by verifying KYC on your account. Also to prevent other bad things too.

[Scottsummers 347]

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

This is one thing that worries me. I'm sending my ID bank details card details name address and phone number to exchanges that could well be fraudulent. Not yobit by the way. I'm not saying that. But they could be using or selling details for a crazy amount if money. Data aggregates pay a fortune and that's the innocent end of the possibility spectrum. 

[Syedbesharat 5423]

20 minutes ago, Scottsummers said:

This is one thing that worries me. I'm sending my ID bank details card details name address and phone number to exchanges that could well be fraudulent. Not yobit by the way. I'm not saying that. But they could be using or selling details for a crazy amount if money. Data aggregates pay a fortune and that's the innocent end of the possibility spectrum. 

I have similar thoughts  about KYC because now a daya i see they want driver licence.Passport scan copy.Make you selfie with in one hand I.D card and in other hand their exchange name in Bold letter with Today date and your Signature.

[Syedbesharat 5423]

44 minutes ago, chicagono666 said:

KYC is important only for a few, essentially the banking system and the governments. It's supposed that is a tool for controlling evil actors but the powerful individuals and corporations are not subject of those rules. Only the ordinary people is affected and controlled.

Yeah all rules and regulations applied for ordinary peoples.The VIPs are above on these rules and regulation .They make fake KYC and do money laundering.The person whose KYC is used do not know about it and money laundering is going on behalf of his in last he become accused.

[Syedbesharat 5423]

39 minutes ago, Ben Fraj Salwa said:

Sometimes KYC is hard if they want document + face verification as they reject several times because they say it is not lisible but it seems to be lisible and this is hardest verification face in most of KYC. Because size of smartphone of taking photo is small and they requires high quality image without lazer of phone.

I think we have to do KYC on those exchanges and Air drops where we have full information that they are authentic and will not use my data for any other thing.As a visibility of face in KYC we can make H.D selfie and convert it as the size they demand with online picture size converter  or any other software or App.

[Rares002 262]

4 hours ago, chicagono666 said:

KYC is important only for a few, essentially the banking system and the governments. It's supposed that is a tool for controlling evil actors but the powerful individuals and corporations are not subject of those rules. Only the ordinary people is affected and controlled.

Exchanges are created just for making profit for the owners and paying taxes to the government. They don't care about their users and thats why they are asking for KYC.

[khan22 3478]

There are so many exchanges which we join but most of exchanges ask about KYC and its important but some are not said about the KYC. KYC verify our account and with KYC our withdraw and deposit limit is increased and we can easily withdraw and deposit our money in high volume.

[CryptoDJ 712]

It seems to me that it was invented in order that some people simply could not use some exchanges as personal obagoscheniya, but here one fact enrages me that now new exchanges ask KYC without having any reputation, it seems to me it is simple pumping out of documents.

[xprince1996 865]

KYC is very important because it is  needed to verify if you are a real person and for the protection of the platform against fraud people.