KYC on CRYPTO??? Like what's wrong!!!

[khan22 3478]

On 4/11/2020 at 12:23 AM, Upright said:

Like on a serious note as to why exactly does Crypto wallets, exchanges even doing this of having to make their apps or sites fully accessible by the use of kyc, as the reason of Crypto was for a fair means of transacting without the a use or proof of I'D as to know who broadcasted this transaction on the decentralized network of blockchain,but just people get blind when propose an airdrop just like what the COINS BUT is also doing. And we SAY WE ARE CRYPTO ENTHUSIASTS when we are been blind

Doing KYC in the crypto market is the best way to secure your account and also it increase your withdraw level also. Crypto is the great market and it touch the sky soon in a short time because the small bull is now start.

[scofield64 943]

Most exchange site and crypto wallet now demand for KYC because of security reasons. But those KYC are used by scammers to defraud people of their money that's why some people are afraid to give their KYC. 

[rekter 8129]

20 hours ago, guatazoo said:

Sure through KYC it would be very easy to track even hackers because when they still bitcoins they must store in the wallet which they also verifying KYC.

Yes they can, but hackers can also use stolen passports and fake electric bills to cover their identity. In fact they can just use multiple of those accounts when they try not to get flagged with all the btc volume they provide.

[Zeshan Khalid 2577]

I think it adds a little bit as a perspective for the websites demanding it but it also adds reservations of security among the users. So the information asked in KYC must be balanced keeping in view both sides.

[mahdititus16 216]

i can tell you a little about that probleme just read what im gonna typing

The kyc feature that many wallets and websites use is a good service where one can get to know the real people, but some people do not like to provide their personal information, so they avoid working on sites that request kyc

so that all my information about that , good luck .

[betelihem 4766]

On 4/10/2020 at 10:23 PM, Upright said:

Like on a serious note as to why exactly does Crypto wallets, exchanges even doing this of having to make their apps or sites fully accessible by the use of kyc, as the reason of Crypto was for a fair means of transacting without the a use or proof of I'D as to know who broadcasted this transaction on the decentralized network of blockchain,but just people get blind when propose an airdrop just like what the COINS BUT is also doing. And we SAY WE ARE CRYPTO ENTHUSIASTS when we are been blind

Yeah most exchanging sites and wallets and also airdrops asks KYC verification when we try to trad hold and get large amounts of moneys, and that's because the want to make things safe and secure, most terrorists and criminals use cryptocurrency and that's because no one will trace them, but wallets and exchanging s site are still under low of the country they are living in so they don't want to help thus terrorists and criminal's. but personal i don't like KYC verification's because i am a student and i don't have thus documents.

[Jromz 2158]

I'm certainly uncomfortable with the whole KYC thing, especially when it comes to cryptocurrencies, whose one of their strong points is anonymity. Anyway, KYC is a measure that help somehow to prevent the illegal activities, namely money laundering mainly. It's a way for the exchange or platform to know who is buying our selling assets, how much and how often their clients transact, and taking action if noticing irregular activity. 

[Jonson Smith 343]

I would say KYC is not a good thing. I think KYC is not a good medium because all secret information is stolen.  Thank you for sharing the matter with us.

[MalikAdnan 1662]

Yes there are exchange site  that need KYC. Actually KYC is know your customer. Binance demand KYC because for this there are many illegal peoples that do scam with the others. So therefore KYC is necessary for this. But Yobit exchange don't need KYC.

[Hamza 2.2 631]

KYC check is definitely not an awful thing do either, it's useful for our own better security and assurance. The undertakings requires KYC confirmation from it's clients just to shield their discussion from programmers and con artists.

[Upright 2688]

19 hours ago, betelihem said:

Yeah most exchanging sites and wallets and also airdrops asks KYC verification when we try to trad hold and get large amounts of moneys, and that's because the want to make things safe and secure, most terrorists and criminals use cryptocurrency and that's because no one will trace them, but wallets and exchanging s site are still under low of the country they are living in so they don't want to help thus terrorists and criminal's. but personal i don't like KYC verification's because i am a student and i don't have thus documents.

It's true on by laws which country's can give out to this exchanges, as when looking at his bitcoin was created we do see it was on stress free transaction, having to be anonymous on having to hide your identity and such. But even though our identity are not broadcasted during the transaction details, as this kyc are instead on the servers of the exchanges. Things too like exchanges being hacked can also put this documents also in their hands, as we have seen and heard of such incident on exchanges which have been hacked

[betelihem 4766]

25 minutes ago, Upright said:

It's true on by laws which country's can give out to this exchanges, as when looking at his bitcoin was created we do see it was on stress free transaction, having to be anonymous on having to hide your identity and such. But even though our identity are not broadcasted during the transaction details, as this kyc are instead on the servers of the exchanges. Things too like exchanges being hacked can also put this documents also in their hands, as we have seen and heard of such incident on exchanges which have been hacked

That's true the other bad thing about sites who asks KYC versification is like you mentioned when they get hacked by cyber attacks our documents also get stolen and that is very risky, and some sites just sell our documents also.

[teebasas 3018]

Actually the KYC feature that many wallets and websites use is a good service where one can get to know the real people, but some people do not like to provide their personal information, so they avoid working on sites that request KYC.

[Serbberq 724]

KYC is very important, and some cryptocurrency sites require KYC to know the identity of the user and it help to know real and legit users and reduce fraud and illegal activities. 

[Arslan Ch 2163]

Although it is good for for the safety as it reduces the risks of scammers but it not that easy and comfortable to share your documents with an online site as most the exchanges and crypro wallets ask for KYC while registration.That's why I don't like the feature of KYC and like to use the apps who doesn't have any such requirements such as Yobit.

Edited December 29, 2020 by Arslan Ch

[Baba g Sialkot 527]

I don't care for any site or wallet that demands kyc from individuals and I like to move away from these locales rapidly in light of the fact that I don't believe how we will do individual data when you get it so I generally like to utilize free wallets and advantages without this confirmation.