Topic: Are You Afraid of KYC? - page 19. (Read 31678 times)
If I, as an investor, trust the project team my money, then I can entrust my personal data to them. I think this is logical. Therefore, I am not afraid of the KYC procedure.
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I am not afraid KYC but only if my document used for the legal things. I am worried if my document will be used for something that I don't know because we don't know what is their purposes to ask our document. But in the exchanges, I think it is fine if we need to send the document to make our account to become verified because they want to know who is their customer. I think in the local exchange, we need to send the document too because the government wants to know who are the people that join in that exchange. But for the ICO, I am too afraid to send any document because we don't know what they want to do with the document.
I am not afraid of KYC verification, at least when dealing with cryptocurrencies. We have a lot of alternatives with decentralized exchanges, so if you're afraid then look to use the DEX and you're good to go.
In the opposite when it's about banks I am tired of, they ask ridiculous questions like what is my monthly revenues and/or when the money comes from. I have even met a bank refusing Cash deposits
In the opposite when it's about banks I am tired of, they ask ridiculous questions like what is my monthly revenues and/or when the money comes from. I have even met a bank refusing Cash deposits
I don't really afraid to expose my identity. There're no ways to avoid KYC in modern society.
Some things in the world having dark and bright sides. The dark one is that there's a risk that your datas will get into third parties hands.
The bright one is that KYC can be some sort of garantee that exchanges and projects gonna function properly.
Some things in the world having dark and bright sides. The dark one is that there's a risk that your datas will get into third parties hands.
The bright one is that KYC can be some sort of garantee that exchanges and projects gonna function properly.
I’m strongly opposed to third-party resources knowing my personal data, firstly, while reading Internet news, I often see that even large social networks merge data into free access, and secondly, damn it! Is crypto anonymous?
KYC is something that guarantees our safety, how you can be afraid of that
I think KYC is not guarantees our safety. Because we are exposing our identity to other people. And they can take advantage into it. And there are allot of bounty hunters who don't get their rewards because they don't fill the KYC.
I expressed my opinion on the provision of your documents for the KYC in my topic on the forum. Categorically against this and I think that it is unnecessary when investing in projects.
Read here: https://bitcointalksearch.org/topic/m.45783618
Read here: https://bitcointalksearch.org/topic/m.45783618
KYC is something that guarantees our safety, how you can be afraid of that
ico that has KYC is pretty much demanding but it is better for us and for the project itself. to us because we secured our tokens available. because they can not be scam or be duplicated by tokens to their ico partners.
How this is going to be beneficial for the ICO investors? Please enlighten me. I am not very keen in providing my ID information to relatively unknown people. If anyone needs to submit their ID documents, then that should to be the ICO promoters.
ico that has KYC is pretty much demanding but it is better for us and for the project itself. to us because we secured our tokens available. because they can not be scam or be duplicated by tokens to their ico partners.
There are multiple risks associated with KYC. We are uploading the scanned copies of our passports and national IDs to these unregulated exchanges. What is the guarantee that the exchange promoters will not sell them to hackers?
n way we not afraid for the required KYCs i think its good for our security
I do not understand how it can be good for security that you transfer your personal data and copies of your documents directly into the hands of scammers? According to statistics from 902 ICO projects, a third turned out to be scammers. Even if a company that conducts an ICO and is registered in a country where it is required to conduct a KYC audit, this does not mean that such a company will not later be fraudulent.i actually get your point but KYC is for the company so that they know that you are real and not some scammer that would just buy and probably do something afterwards.
In this way, it is true that KYC is needed for a proof that the exchange was indeed carried out. So there is no need to be afraid or suspicious of the KYC. All is done to reduce fraud that is happening.
n way we not afraid for the required KYCs i think its good for our security
I do not understand how it can be good for security that you transfer your personal data and copies of your documents directly into the hands of scammers? According to statistics from 902 ICO projects, a third turned out to be scammers. Even if a company that conducts an ICO and is registered in a country where it is required to conduct a KYC audit, this does not mean that such a company will not later be fraudulent.i actually get your point but KYC is for the company so that they know that you are real and not some scammer that would just buy and probably do something afterwards.
KYC is basics, if you have no problem with the law or smth, what to be afraid about?
People afraid of their data to be passed to third party. Thats not about being criminal. Also to avoid multi accounts and prevention of money laundering.Also to avoid underaged to participate in Token sales and also restrictions for USA citizens are exists for security tokens, to avoid the consequences the ICO management do so.
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.
Thats exactly my point, check where you submit your data, else I doubt you can participate in any ICOs or trading without KYC. I would even doubt the ICO if its without passing KYC and no AML prevention. Recently and soon all ICOs and already all trading platforms require KYC. But for example, the European Union has the General Data Protection Regulation since May 25, 2018, that regulates the data usage and protection, the basic principle of which is that Data should be deleted when it is no longer needed for the stated purpose, so no third party to keep the data after KYC done.
KYC is basics, if you have no problem with the law or smth, what to be afraid about?
If KYC is really important to get bitcoin, then I will not worry about KYC. I think KYC is needed to reduce fraud or multiple accounts.
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.
in this case we all will not be able to avoid what is happening with the price of bitcoin, which we might do to ask why? when will it back up again?
and the answer we don't know ... if you really say many investors who take their money from bitcoin means that they sell everything they have, don't get it wrong who knows one of the goals.
KYC is beautiful. ico's great help is that they are not fooled by participating in their project. And as much of us as we do here, we can not just hack anyone when we get KYC. so for me it's good to have KYC.
KYC on exchangers is charged as a preventive measure for money laundering cases, they do not require for every normal transaction with a nominal value below 2 btc per day. This is indeed out of the topic of anonymity, but if it is not done, one day the exchanger will be forcibly frozen because it is considered a covert money laundering media. I have no problem with this and accept it.
In other cases (different from the topic), KYC on the campaign is charged in all directions, including the bounty with the smallest allocation, this is very surprising because this should be sensitive data with a large accountability issue, I think something is wrong with this concept, it should required only for investors.
In other cases (different from the topic), KYC on the campaign is charged in all directions, including the bounty with the smallest allocation, this is very surprising because this should be sensitive data with a large accountability issue, I think something is wrong with this concept, it should required only for investors.
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