The proliferation of Crypto Cards by established and regulated companies like Coinbase makes we worry about proper un-monitored and BTC adoption. I can foresee a scenario where only cards by companies such as Coinbase are allowed to be used in stores (because Coinbase has done the KYC) but payments through a wallet app where the Bitcoin is anonymous are banned.
Topic: Crypto Debit Cards and KYC - page 2. (Read 416 times)
I don't understand why we need debit cards. This is old money and old technology.
Banks have already created mobile wallets, with tap and pay technology, so you can transact with your mobile phone with all modern POS.
Banks already understand that plastic cards are a thing of the past. Any service offering a crypto-debit card is moving backwards.
Banks have already created mobile wallets, with tap and pay technology, so you can transact with your mobile phone with all modern POS.
Banks already understand that plastic cards are a thing of the past. Any service offering a crypto-debit card is moving backwards.
I think your analysis is goods as regards to your question at least, as much as I'm aware of. Most of the exchanges respect your privacy except of cause, there are investigations to be carried out
However, I will like you to mention any of the crypto debit cards you have particularly tested and works.
I ordered a TenX card (and I knew it worked).
I received it but as soon as I did, that mess happened and everything stopped.
I should receive the new one in the second half of 2019.
I don't know about other cards and was gathering informations right now because I would like to buy a couple of those...
So guys, please, if you already have a good impression regarding any of those cards, please share (European customers in particular
)Yes, KYC means Know Your Customer and it is implemented by RBI. they say that doing KYC is very essential and it is only for tracking the users and maintaining the economic balance. Crypto Debit Cards are still an experimental system but the principles are same as banks are trying to track users involved with cryptocurrencies. but I do not think that is very much possible as that needs a lot of physical ATM's.
So, according to you, when you use an ATM you are identified through the card? Why? Perhaps you are talking about visual identification and artificial intelligence because if you're not, that means things are not anonymous at all...
That's exactly what I mean... If I withdraw some cash, am I identified or not?
Of course I'm talking about those cards "in which you added your ID" (when you requested it, sorry for my English) because with low limits, you can also decide not to give any data.
Usually, after 1000$, they die.
p.s. if you are asking yourself if anonymous cards for ATM already do exist... yes they do... (UNHCR cards for migrants and refugees for instance...)
p.p.s. it seems John McAfee's gonna release some sort of anonymous card too...
Yes, KYC means Know Your Customer and it is implemented by RBI. they say that doing KYC is very essential and it is only for tracking the users and maintaining the economic balance. Crypto Debit Cards are still an experimental system but the principles are same as banks are trying to track users involved with cryptocurrencies. but I do not think that is very much possible as that needs a lot of physical ATM's.
From my own understanding, the docs and other information submitted during kyc process remains private and not shared with anyone, but in a case where by an individual is found wanting and needs to be investigated, the AML company is bound to release your data for proper investigation.
You have already answered the question. The KYC documents are not transferred to the third party but rather remain with them. Many of the providers are subjected to AML and just in case you are found wanting by the third party for money laundering, your identity can be requested from them in order to prevent them from been sued. In such a situation, your identity will be made known and you will be fetched out just like water from the well . However, I will like you to mention any of the crypto debit cards you have particularly tested and works.
. However, I will like you to mention any of the crypto debit cards you have particularly tested and works.
Thank you very much 
edit: I assume you knew about this of course
https://www.coindesk.com/beyond-kyc-global-regulators-appear-set-to-adopt-tough-new-rules-for-crypto-exchanges
edit: I assume you knew about this of course
https://www.coindesk.com/beyond-kyc-global-regulators-appear-set-to-adopt-tough-new-rules-for-crypto-exchanges
KYC is something know and stored by the company only (or a 3rd party when it's 'prepaid account'). Sharing information isn't allowed. So no, it's not something shared each time you pay with your card.
And yes in case of an ongoing investigation the companies are forced to give anything asked, name, address, IP, and so on...
And yes in case of an ongoing investigation the companies are forced to give anything asked, name, address, IP, and so on...
Hi guys,
I have a question about these cards and hope someone can help me understand
Today we have some cards that work anonymously, some that don't and some that do both.
Obviously without the KYC thing, limits are low and that's ok.
I was wondering though:
when you send your information to them, verify your identity and obtain your higher limits, do your KYC data "travel" beside every payment you do?
Or are those info only stored in the company where you required the card from?
That would mean that the payment is still anonymous but if something happens (if you are a criminal and do something bad for instance) the authorities can ask them who you are.
Can anyone clarify this to me please?
Thanks in advance
I have a question about these cards and hope someone can help me understand
Today we have some cards that work anonymously, some that don't and some that do both.
Obviously without the KYC thing, limits are low and that's ok.
I was wondering though:
when you send your information to them, verify your identity and obtain your higher limits, do your KYC data "travel" beside every payment you do?
Or are those info only stored in the company where you required the card from?
That would mean that the payment is still anonymous but if something happens (if you are a criminal and do something bad for instance) the authorities can ask them who you are.
Can anyone clarify this to me please?
Thanks in advance
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