Financial value of KYC verification - page 2.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18771

You can Google the answer to these questions. A basic identity sells for around $20-40. Add in things like a bank or paypal details and a picture of your passport and you are maybe looking at $100 from what I can tell. If you also add in bank or paypal logins, you are pushing up around $500. The reason big exchanges do KYC is so they comply with regulations. The reason most random ICOs do KYC is so they can sell your data.

Also, Coinbase have admitted that they sold customers' data without their knowledge or consent: https://cointelegraph.com/news/coinbase-former-provider-sold-user-data-to-third-parties-prompting-neutrino-acquisition

Bikerbmt47

newbie

Activity: 15

Merit: 0

Quote from: George199 on May 05, 2019, 06:28:47 AM

Hello, I would like to ask:
1. For how many dollars could you give someone KYC verification?

2. Do you know what value our KYC has for companies (such as Coinbase), why do they pay for it? They sell them to someone?

Thanks

kyc is not for sale, it is just a verification that you are a real user. In terms of law, ID is an asset, anyone who buys or sells papers in any item is a violation of the law.

Harlot

hero member

Activity: 1806

Merit: 672

So far I haven't heard or seen any news about Coinbase buying KYC, since in the first place they don't need to as they are already requiring their clients KYC to give it to them for their accounts to be verified. You maybe might just have misread some news about people buying verified accounts of exchanges with KYC of other people which is a prevalent thing happening right now not only in Coinbase but in other exchanges, just to remind you that this practice is illegal in every way and you are literally impersonating someone.

George199

newbie

Activity: 16

Merit: 0

Why are they willing to pay for it?

Quote from: eckmar on May 05, 2019, 06:32:10 AM

Quote from: George199 on May 05, 2019, 06:28:47 AM

Hello, I would like to ask:
1. For how many dollars could you give someone KYC verification?

2. Do you know what value our KYC has for companies (such as Coinbase), why do they pay for it? They sell them to someone?

Thanks

Lol...

KYC info of your users should not be sold... Companies such as Coinbase are required to have that information by law because of the AML regulations.

eckmar

legendary

Activity: 1878

Merit: 1038

Telegram: https://t.me/eckmar

Quote from: George199 on May 05, 2019, 06:28:47 AM

Hello, I would like to ask:
1. For how many dollars could you give someone KYC verification?

2. Do you know what value our KYC has for companies (such as Coinbase), why do they pay for it? They sell them to someone?

Thanks

Lol...

KYC info of your users should not be sold... Companies such as Coinbase are required to have that information by law because of the AML regulations.

George199

newbie

Activity: 16

Merit: 0

Hello, I would like to ask:
1. For how many dollars could you give someone KYC verification?

2. Do you know what value our KYC has for companies (such as Coinbase), why do they pay for it? They sell them to someone?

Thanks

Topic: Financial value of KYC verification - page 2. (Read 399 times)