Topic: Are You Afraid of KYC? - page 7. (Read 31966 times)
Average Joes, don't care
You should be... a lot of the time there is absolutely no reason to KYC besides the fact that some bad guy somewhere wants your info to do terrible things with potentially or sell.
Kyc was invented to generate trust and mitigate crime
Bitcoin is only kinda trustless in terms of micropayment
So it is needed for exchange decent funds legally and secure
Bitcoin is only kinda trustless in terms of micropayment
So it is needed for exchange decent funds legally and secure
What are your apprehensions about the KYC procedures that will soon be as popular as noodles?
* There are some people who don't think KYC is needed in the crypto world.* Some of them are important in the world of cryoto.
Not afraid to do kyc, an object, leads to a detrimental factor for someone who gives his real identity.
These two things always contradict each other, my opinion if the kyc is in accordance with the expectations that our personal data can be safely accounted for does not matter, for example in the trading market.
What's worse is that KYC is not as expected, for example people do work in the campaign field, after doing KYC given tokens to participants, if sold for $ 5 dollars, this is annoying KCY.
That's where the kyc controversy occurred with most people in the crypto world.
I'm additionally apprehensive on KYC in light of the fact that it can truly be use into filthy things, yet I can't take care of business since I have to top it off as one of a necessities in huge trades. Simply be cautious on giving your data on any ICO in light of the fact that the hazard is high there.
I do not mind to KYC in regards to making my funds are legit. I DO mind the fact that a company stores my personal data and I have no way of telling how it is stored, if it has been leaked (during a hack) etc.
Most times KYC is not for disclosure purpose but to guarantee security of fund, so that third party won't run away with investors money. So it is a bar on the owner of fund only when KYC corresponds to provided information already and a total bar and exclusion of a third party.
This is what I'm talking about: https://www.coindesk.com/binance-kyc-issue
I don't like my information leaked on the internet like that, especially when it involves selfies/pictures of my official identity documents.
I do not mind to KYC in regards to making my funds are legit. I DO mind the fact that a company stores my personal data and I have no way of telling how it is stored, if it has been leaked (during a hack) etc.
Most times KYC is not for disclosure purpose but to guarantee security of fund, so that third party won't run away with investors money. So it is a bar on the owner of fund only when KYC corresponds to provided information already and a total bar and exclusion of a third party.
I do afraid don't wanna pay huge amount of taxes in the future
I do not mind to KYC in regards to making my funds are legit. I DO mind the fact that a company stores my personal data and I have no way of telling how it is stored, if it has been leaked (during a hack) etc.
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I think it is getting normal when countries/law asking KYC for cryto. It is inevitable.
When legal or government representatives ask for documents, there is nothing wrong with that. The problem is that the verification of KYC is asked by companies that operate in an unregulated market and we are simply not able to check whether they do it with good intentions or not. Unfortunately, but on the cryptocurrency market there were document leaks very often, which can lead to many problems for people whose data is in the hands of criminals.
Nothing wrong with providing personal info, the problem is who is asking for it and what use they will give. There should be a KYP (Know your provider) so far we don't have such a thing!!!! and nobody is thinking about it!!
That would be the first step, then after that KYC!! not just companies asking users personal data!!
I think it is getting normal when countries/law asking KYC for cryto. It is inevitable.
When legal or government representatives ask for documents, there is nothing wrong with that. The problem is that the verification of KYC is asked by companies that operate in an unregulated market and we are simply not able to check whether they do it with good intentions or not. Unfortunately, but on the cryptocurrency market there were document leaks very often, which can lead to many problems for people whose data is in the hands of criminals.
I think it is getting normal when countries/law asking KYC for cryto. It is inevitable.
Honestly i never liked the KYC implementation idea and i guess it's same thing with many on here but since KYC is what every popular exchange are turning to nowadays i have no choice since i have to sell coins and tokens i earned or owned, if not for selling off identity on dark web and other dangerous things involving stolen identity i have no problem with KYC
Actually I'm enjoying about kyc passing because i have still all documents which need pass kyc. I think if a project going to huge successful then we can do kyc fell free. So no need to worry it's simply and easy just you need take a good movement.
Really,i heard first time who guy enjoying KYC.You think a big successful project can not abusing your personal documents? How you will get ensure that project team will be never sell your identity.You adopt wrong concept about KYC.KYC is always worried things no matter what type of projects you will pass.There are no guarantee from project core team to keep safe documents.
They will always give their identity as long as there is no case about the misuse of identity, but if there is come I'll bet they will keep their identitu but it was too late.
not all airdropers are like that . i have read a thread before that tackles about kyc and many airdrops replied and said they arent willing to risk thier identity for a small penny or even if its 30 dollars or more because they knew that thier identity are cost more than those payments made by airdrops but there are still desperate hunters that does not a job or other source of income and badly needs cash so thier last resort are only airdrops and willing to do anything ,
Bounty & Airdrop hunters can't earn enough money doing this job, now more difficult to search which projects will pay and i think hunters should be select these projects those are must be pay.
Actually I'm enjoying about kyc passing because i have still all documents which need pass kyc. I think if a project going to huge successful then we can do kyc fell free. So no need to worry it's simply and easy just you need take a good movement.
Really,i heard first time who guy enjoying KYC.You think a big successful project can not abusing your personal documents? How you will get ensure that project team will be never sell your identity.You adopt wrong concept about KYC.KYC is always worried things no matter what type of projects you will pass.There are no guarantee from project core team to keep safe documents.
They will always give their identity as long as there is no case about the misuse of identity, but if there is come I'll bet they will keep their identitu but it was too late.
not all airdropers are like that . i have read a thread before that tackles about kyc and many airdrops replied and said they arent willing to risk thier identity for a small penny or even if its 30 dollars or more because they knew that thier identity are cost more than those payments made by airdrops but there are still desperate hunters that does not a job or other source of income and badly needs cash so thier last resort are only airdrops and willing to do anything ,
Actually I'm enjoying about kyc passing because i have still all documents which need pass kyc. I think if a project going to huge successful then we can do kyc fell free. So no need to worry it's simply and easy just you need take a good movement.
Really,i heard first time who guy enjoying KYC.You think a big successful project can not abusing your personal documents? How you will get ensure that project team will be never sell your identity.You adopt wrong concept about KYC.KYC is always worried things no matter what type of projects you will pass.There are no guarantee from project core team to keep safe documents.
They will always give their identity as long as there is no case about the misuse of identity, but if there is come I'll bet they will keep their identitu but it was too late.
Actually I'm enjoying about kyc passing because i have still all documents which need pass kyc. I think if a project going to huge successful then we can do kyc fell free. So no need to worry it's simply and easy just you need take a good movement.
Really,i heard first time who guy enjoying KYC.You think a big successful project can not abusing your personal documents? How you will get ensure that project team will be never sell your identity.You adopt wrong concept about KYC.KYC is always worried things no matter what type of projects you will pass.There are no guarantee from project core team to keep safe documents.
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?
well I am not afraid of KYC but I am afraid of misuses of my documents cuz I have no idea what they will do with my documents after getting them on the name of KYC,Infect its only the reason for not going for KYC and avoid the projects where KYC is must.
Everyone is afraid of KYC only because there is a big chance that our privet information will be misused. There are lot of situation where in name of KYC in airdrop some people collects the privet informations. And afterall KYC simply destroys the decentralized nature of the cryptocurrencies. And now almost every trading exchanges want KYC. So it's impossible trade ignoring the KYC.
I don't afraid of KYC beside i want it to become more strict and difficult because i could see that the current existing KYC is useless as the thieves are still able to stole from the people. I have nothing to be afraid of KYC as long as the project is legit and we have nothing to hide too.
You will be safe if you have an analyst to differentiate legit and scam project. Thus far, as far as I know to differentiate them is really difficult, moreover with the project that open an airdrop and offer a lot of money. Such as an exchange, have you know there are a lot of new an exchange popping up and they give several dollar for new user and through refferal? That hard thing to guessed IMO and when you give your KYC for airdrop event you will get used to give it. you mean to hire an analyst ? but that would cost us while we only want to apply for a job to earn . we can always be analyst our self if we educate our self well . good for you that you are already a good analyst .
airdrops that i join have a kyc but i choose to not give my kyc for thier pennys . kyc is a sacred thing and we must be kyc fearing at all times . that is the only way to lessen the scams that currently happening . the longer we do it , scammers will get tired and move on .
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