Are You Afraid of KYC? - page 14. | Bitcointalksearch.org

Falgorn

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Quote from: Siren on January 28, 2019, 06:46:24 AM

I never come to be afraid of KYC since there is nothing to hide from this though everytime this was been asked whenever I participated in bounties or some transaction that it is needed,theres always on my mind that has a second thought because of my security’s for the reason of having glitches from the scammers or hackers but in totality if i found the asking is legit theres no doubt that i will present it all the way

I wonder how you determine that the KYC check required by certain ico commands is legitimate. no ico team has yet indicated a regulatory act on the basis of which they require the company’s participants to sign ico or other bounty companies to undergo a KYC check. I think that you do not know the answer to this simple question. KYC checks can only be conducted with the aim of preventing dirty money laundering and countering the financing of terrorism. bounty hunters are not investors of the ico project and therefore the requirement of passing a KYC check is illegal.

Snaic

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The problem is not the actual conduct of the KYC inspection, although for the bounty hunters its conduct is illegal and violates our right to privacy of the individual. I am in some danger of conducting a KYC audit at the end of an ICO or even after it, since, due to the lack of regulation of this type of activity, there is no single approach to the requirements of the KYC audit and sometimes the ICO teams require the provision of such documents that I cannot provide. If this happens in the final period of the ICO, then it threatens me with not paying out the earned tokens. This is quite reminiscent of fraud by the ICO team, and therefore the KYC check should always be carried out in the initial phase of the ICO, and not the final one.

olliecrypto

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Quote from: Irvinn on March 01, 2019, 01:44:01 AM

Due to the KYC checks at the end of the ICO, I have not received their tokens in many campaigns after having participated in ICO projects for many months. In some cases, due to the fact that I cannot provide some of the required documents, and in others, purely because of technical inconsistencies in this matter on the part of the ICO team, multiple changes in the order and conditions of passing the KYC inspection, as a result of short deadlines and . In general, KYC verification is another fraudulent way for unscrupulous ICO teams not to pay the tokens we earn. Therefore, I simply no longer join the ICO, where even the possibility of a KYC audit is announced.

i've never heard of someone not getting their ico tokens due to teams changing their kyc standard during or after the ico, but now that i'm aware of it, i'm also glad i never participated in an ico.

Popeye27

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Quote from: premreddy on March 22, 2019, 02:51:55 AM

I am an active crypto trader myself. I work for a cryptoexchange based out of singapore (InternationalCryptox) and INCX have launched our exchange in the month of December 2018. We also launched Mobile App in the month of January and we have a great platform in the market.

We are now reaching out to cryptotraders and enthusiasts and spreading the good word about our platform.

May I request you to kindly visit https://incx.trade to check out the INCX platform today? We encourage you to experience trading using the world class product that we have built.

Take INCX wherever you go and trade easily using our Mobile App!! Happy Trading!!! Go INCX!!!!

How to trade in INCX Platform: https://youtu.be/q6HDgN6M92E

Thank you.

Hey, Premreddy, according to group theme, do you afraid of KYC?)) I see that you are a representative of the cryptoexchange, tell me how it protects user data and what are its advantages over others?

olliecrypto

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I never considered that ICO's would be selling info as a source of income versus anything else, but that is an interesting point.
The vast amount of ICO's that have appeared, especially when btc and eth were nearing their ATH was intense, and the amount of cookie cutter websites / companies did make me nervous enough to never participate in an actual ICO, but I do wonder if there is a list of failed ICO's and companies suspected of intentionally propping up ICO's to mine people's info... that would be a worthwhile endeavor.

Quote from: Harlot on March 11, 2018, 03:07:54 AM

KYCs are not the problem here. The problem I see is where you are entrusting your information to. Because their are certain ICOs that will only fish out your information as it has more value for them rather than the token they are creating. KYCs are a requirement of some countries' government as it is their way of regulating or being in touch with their citizens. What I would normally do before trusting my personal information to other entities such as ICOs or even exchanges I will research on them if they have a good background.

premreddy

newbie

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I am an active crypto trader myself. I work for a cryptoexchange based out of singapore (InternationalCryptox) and INCX have launched our exchange in the month of December 2018. We also launched Mobile App in the month of January and we have a great platform in the market.

We are now reaching out to cryptotraders and enthusiasts and spreading the good word about our platform.

May I request you to kindly visit https://incx.trade to check out the INCX platform today? We encourage you to experience trading using the world class product that we have built.

Take INCX wherever you go and trade easily using our Mobile App!! Happy Trading!!! Go INCX!!!!

How to trade in INCX Platform: https://youtu.be/q6HDgN6M92E

Thank you.

Popeye27

newbie

Activity: 14

Merit: 1

You have not violated the law that's why you never afraid to pass KYC. But Anonymous project developer or dishonest people in everywhere actually they can anytime violate to using your personal documents that's the big problem i think.
[/quote]
100% true. Working in one blockchain project, I personally witnessed the verification of the KYS. There is a high probability that unscrupulous employees may steal customer data and use them in fraudulent schemes.

STT

legendary

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Quote

You have not violated the law that's why you never afraid to pass KYC.

Thats a classic fallacy, only the guilty need to fear the law. Its practically a movie catchphrase for Judge Dread or something, cartoon justice says only the criminal suffer the burden of lawful punishment when its the case that all citizens must bear the cost and trouble of constantly negotiating and avoiding red tape problems like this.

Irvinn

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In KYC verification, I fear unexpected and unpredictable demands that I simply cannot fulfill. Also sometimes there are such forms of them that do not take programmed answers due to the very large variety of document forms in the world or for other reasons. It would not be worthwhile to fear if the KYC verification could be passed upon joining the ICO signature campaign. I would try, not come and leave this campaign. In this case, the ICO team would be interested in that there would be fewer technical and organizational failures. If the KYC check is carried out at the end of the ICO or even after its completion, then the interests of the ICO team are already changing and they are just the opposite, interested in bounty hunters not having passed such a check so as not to pay the tokens earned by us. Therefore, a KYC check should only be carried out simultaneously when joining an ICO bounty campaign.
Although I always find KYC checking for bounty hunters illegal.

BeGoods

legendary

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Quote from: Spider A4 on February 27, 2019, 03:08:04 PM

Quote from: jabrix on February 22, 2019, 07:40:02 AM

Quote from: BLAST2MARS on February 09, 2019, 10:13:23 PM

We've heard it many times and those leaks became a good business for others so we definitely need to be afraid and be extremely careful at the same time. But I think Facebook is still much dangerous than KYC because Zuckerburg sell all our datas like everything about us while KYC is just the passport.

I am not afraid of KYC, because I feel I have not violated the law. Without realizing it, our data is actually everywhere, including vehicle loans, home loans, Facebook registration, etc.
So, think positively and always do without breaking the law so there is nothing to fear. Regarding cryptocurrency, when withdrawing money from a place where cryptocurrency is exchanged, of course KYC is needed.

You have not violated the law that's why you never afraid to pass KYC. But Anonymous project developer or dishonest people in everywhere actually they can anytime violate to using your personal documents that's the big problem i think.

Thats right, if those who ask for KYC are companies that have a clear legal entity, then it is not a problem to do KYC because they
certainly will not abuse our identity. but for anonymous projects or companies, it requires KYC, so I better avoid them..

MakeMoneyBtc

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In most cases I am afraid of KYC because no one wants to offer their personal informations to a website that I brand new and offers no reason to trust it. I have no problems verifying my KYC for websites which are already trusted and are licensed but there I no way I would do it on a exchange with no reputation behind.

Cianix

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Yes, I think kyc is not particularly dangerous , especially if the project is worthy of my trust , but of course if the project is poorly done it is better not to take it , as the documents fall into the wrong hands , but kyc is at the moment very many where used

Daveprofile

jr. member

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Your view point is real but once has to diligently ascertain the authenticity of the program he or she is signing up for before registration. This one once can be safe. My main issue with KYC is that it takes time. But the time is your our all protection and safety in the long run.

jhongzjhong

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Quote from: sijonru on March 14, 2019, 12:48:17 AM

No one is afraid of KYC, because personal identities already exist in credit institutions such as banks, leasing or social media such as Facebook, Twitter, etc. What is feared is if our personal identity is used for evil purposes.
Bitcoin transactions do not need KYC, because it is peer to peer and decentralized. But when you want to withdraw money from the bitcoin exchange, KYC must be asked to avoid problems later on.

Correct, let's just accept that KYC implementation is a part now in crypto world to avoid fraudulent both side parties the client and the owner.
I guess it is hard to use your identity if they required from selfie to have company name and date you've pass KYC. But there are some people who still afraid KYC and we can't blame them each of us has a perspective view on having KYC.

sijonru

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Quote from: fara_buduk on March 10, 2019, 06:03:58 PM

until now there is no problem, as long as we do the KYC vertex in a safe place if we doubt it is better not to do it because our privacy data is very valuable and the network is misused by irresponsible people.

No one is afraid of KYC, because personal identities already exist in credit institutions such as banks, leasing or social media such as Facebook, Twitter, etc. What is feared is if our personal identity is used for evil purposes.
Bitcoin transactions do not need KYC, because it is peer to peer and decentralized. But when you want to withdraw money from the bitcoin exchange, KYC must be asked to avoid problems later on.

STT

legendary

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KYC is best done by outsourcing to a regular firm that has done so for many different companies, that also means they are used to the irregular work loads that otherwise would be placed on a venture such as an ICO. They will be familiar with all the different factors and various regional differences across the world, it seems unlikely to go smoothly when a new startup which has never tried to do this makes an attempt to verify all fairly.

I also fell victim to KYC, after 14 days they refused to honor their debt on the basis of documents required and absolved this debt in their own favour. Hardly seems likely to produce a fair result. At the same time I passed KYC elsewhere with a regular firm

boyptc

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Quote from: fara_buduk on March 10, 2019, 06:03:58 PM

until now there is no problem, as long as we do the KYC vertex in a safe place if we doubt it is better not to do it because our privacy data is very valuable and the network is misused by irresponsible people.

This is my mindset that I wouldn't conduct KYC if the site is not legitimate and I have doubts.

I conducted KYC and followed up with an exchange that I trust so it's our verdict to say if we're going to follow or not. Comply if you are trusting the site and don't if you don't.

fara_buduk

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gik nyareh proyek seteppak pas sepak

until now there is no problem, as long as we do the KYC vertex in a safe place if we doubt it is better not to do it because our privacy data is very valuable and the network is misused by irresponsible people.

Argoo

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Quote from: CryptoBry on March 10, 2018, 11:48:47 PM

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

KYC checks in cryptocurrency will never be popular. This is happening now, in the period of the “wild”, unregulated ICO. Now the ICO teams are heavily abusing their position and require our confidential data from investors and bounty hunters that they are not entitled to demand from us. With regard to bounty hunters in general, any KYC check is not legal. KYC verification has the task of preventing dirty money laundering and combating the financing of terrorism. We are not investors in ICO projects and therefore should not pass such a test. KYC testing should be carried out only for the purpose for which it is intended. Otherwise it is a violation of our rights to confidential information.

Irvinn

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Due to the KYC checks at the end of the ICO, I have not received their tokens in many campaigns after having participated in ICO projects for many months. In some cases, due to the fact that I cannot provide some of the required documents, and in others, purely because of technical inconsistencies in this matter on the part of the ICO team, multiple changes in the order and conditions of passing the KYC inspection, as a result of short deadlines and . In general, KYC verification is another fraudulent way for unscrupulous ICO teams not to pay the tokens we earn. Therefore, I simply no longer join the ICO, where even the possibility of a KYC audit is announced.

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