If you want to take part in an IDO, you must include KYC, of course I will stay away from it. After all, there is no guarantee that the IDO will be successful and the data provided will be more vulnerable to misuse, and it will be dangerous if the scammer holds the user's KYC data.
I usually prepare fake data for KYC, that's only I apply it to really good projects. Don't do KYC if your privacy is very important, nothing is more valuable than privacy.
Topic: i'm aware to do kyc on Crypto project (Read 286 times)
I agree with what @OP said. Doing KYC will be the responsibility of each of us because we submit personal documents to use all the features available on exchanges and other platforms. For this reason, we must ensure that such services can be responsible for protecting personal documents from bad things that can happen.
And it's true that we don't need to do KYC every time. We also don't need to do KYC in new projects that ask their customers to do KYC. We have to be careful with fraud that has happened a lot so that they can sell personal information. Don't trust new projects that say they are good and ask you to do KYC.
We must be wary of platforms we don't know that will ask us to do KYC. We also have to make sure before we do KYC on any platform. If you want to participate in a project, make sure the project doesn't ask for your documents because it's not worth trying.
And it's true that we don't need to do KYC every time. We also don't need to do KYC in new projects that ask their customers to do KYC. We have to be careful with fraud that has happened a lot so that they can sell personal information. Don't trust new projects that say they are good and ask you to do KYC.
We must be wary of platforms we don't know that will ask us to do KYC. We also have to make sure before we do KYC on any platform. If you want to participate in a project, make sure the project doesn't ask for your documents because it's not worth trying.
Yes. Many KYC/AML processes require user photos with ID/passport and We are facing a situation where globally enforced KYC/AML processes may compromise the privacy of millions of people. In addition, hackers can carry out impersonation attacks with stolen identities.
So, for options that I think are quite safe, you can use the Bisq link https://bisq.network/ which supports direct crypto-fiat and fiat-crypto exchanges without KYC/AML or you are looking for something simpler and easier or learn this too https://distribuyed.github.io/index/ so as not to add to the burden on your mind.
So, for options that I think are quite safe, you can use the Bisq link https://bisq.network/ which supports direct crypto-fiat and fiat-crypto exchanges without KYC/AML or you are looking for something simpler and easier or learn this too https://distribuyed.github.io/index/ so as not to add to the burden on your mind.
Then you probably shouldn't have said that "it's not a big issue to do it." It's a big issue. And the extent of this selling and/or sharing of information is something we really don't know. We actually have no idea where our personal information are shared. It would probably be less worrisome if they're shared with government agencies upon order, because they have no choice but to comply, but what if they're sold to different companies, legal and illegal?
Have you ever been surprised that certain offers suddenly arrive at your email without your knowing how they got hold of your email address? And this happens not just when certain projects go down. They're probably happening even if these projects are still up and running.
Have you ever been surprised that certain offers suddenly arrive at your email without your knowing how they got hold of your email address? And this happens not just when certain projects go down. They're probably happening even if these projects are still up and running.
It is often seen that some crypto projects require KYC and carry a lot of risk. And there are some such fraudulent schemes that can create problems with such information so we should be careful. If you register on any such platform and if it requires you to KYC then you never do it there unless required then fraudsters can harm you. But if you do KYC on a trusted platform or scheme then they won't cause any problem but you should always be careful as there are various scam platforms that will cause you problems. Therefore, you should be very careful when visiting such platforms so that they do not create problems with your information later.
The best is never KYC in any platform especially you who're live in Bangladesh where Bitcoin is illegal on there, as you said above those project are ready to share with government, what if they know if their citizen are associated with Bitcoin? you broke your country law, better to check the punishment about that rule.
Privacy is important, you can use Bisq to trade without KYC.
Completing KYC on platforms carry its own but completing KYC on cryptocurrency related platforms in a country where cryptocurrency is legal is double risk. If you by chance run into troubles you cannot relate to the police because they will either arrest you will not respond to you.Privacy is important, you can use Bisq to trade without KYC.
If you complete KYC in a platform that is trusted and reliable you are facing a smaller risk, which is incase you data leak through hacking or other means. But if you complete KYC in a shady project, then will facilitate their exit scam and continue by selling your data.
Some project developers are very cautious about who they will whitelist for their crowdfunding. Since different countries have different approaches and regulations on cryptocurrency crowdfunding, the US of A I believe is very strict on this, and the reason why many crowdfunding projects restricts American citizens from participating in their fund raising. They solve this by requiring KYC to be whitelisted in order to prevent investors from restricted county to participate. That makes sense but many projects that do this did not even last for very long and the data they gathered is probably sold. So I never participate in any crowdfunding that requires KYC. I just wait for it to hit to the exchange and buy when the hype is over.
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies. also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
Any custodial service that has your data can do this, either they will be compelled by the government to hand it over to them, or the KYC information could leak and be sold in the dark web if the custodial service is hacked, as so many of them are. Scammers are also using people's KYC details to attack them via identity theft, their data is used to register on centralized exchanges for scam purposes and used to even steal money from their fiat accounts.There is so much that an attacker can do with your KYC information, and once you have given this data to at least one custodial service, you run the risk of being a victim, the more services you give it to, the higher the risk you run.
The best is never KYC in any platform especially you who're live in Bangladesh where Bitcoin is illegal on there, as you said above those project are ready to share with government...
Even if you live where Bitcoin is legal you should be aware that such laws change quickly and you cannot unshare your privacy.- Jay -
Laws take effect after it was officially enacted unless specified by a new law regarding the case, no laws are retroactive so if you are a holder of Bitcoin in your country when it's legal and they made it illegal afterward, they cannot charge you for being a holder of Bitcoin before the law is enacted, unless you continue to hold Bitcoin after the enactment of the law that made it illegal, then you will be charge.
That would depend on the laws of the country you live in. Although the most typical scenario is that previous holders shouldn't have a problem for prior holdings, I wouldn't discard a different one in the case of tyrannical regimes. And, on the contrary, it could also be that in, in some jurisdictions where Bitcoin is eventually banned, these holders are free to keep holding.
Although these aren't the scenarios we'll usually witness, depending on where one lives, that degree of uncertainty should be taken into account, just in case.
The best is never KYC in any platform especially you who're live in Bangladesh where Bitcoin is illegal on there, as you said above those project are ready to share with government...
Even if you live where Bitcoin is legal you should be aware that such laws change quickly and you cannot unshare your privacy.- Jay -
Laws take effect after it was officially enacted unless specified by a new law regarding the case, no laws are retroactive so if you are a holder of Bitcoin in your country when it's legal and they made it illegal afterward, they cannot charge you for being a holder of Bitcoin before the law is enacted, unless you continue to hold Bitcoin after the enactment of the law that made it illegal, then you will be charge.
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service.
Those projects running IDO on those exchanges are not the ones stealing your data, and you should worry less about your data being stolen because of them. The exchanges where you run those KYC should be held responsible for your data leakage, not the IDO project owners, as they don't have access to the exchange data base.
But hold a second, is IDO (Initial Dex offering) not done on Dex exchanges? and Dex exchanges don't request KYC verification, or do you mean IEO (initial exchange offering)?
KYC platforms should be avoided because they don't mind leaking your information out for money. If it comes to the point that you must use a KYC platform or exchange,do it with caution by opening an account with only one,so that your information wouldn't be scattered around the internet on different centralized platform. With this way you can be a little bit safer using just one platform. My privacy is my priority and I only have two platforms with my information, which is in the online casino where I gamble and on Kucoin. Don't share your information rampardly and think that nothing will happen,the more you share them on centralized platforms,the more attack that you are expose to.
Avoid any project that expects you to pass KYC especially if you don't really know what the future holds. KYC on new projects under development is a bit risky as most of these projects have a high probability of failure. You still have to be wise in protecting your personal data including documents, so you really should care about that instead of ignoring it.
KYC is completely useless for those of you who care about data security and privacy protection, but of course keeping it safe and untouched in this highly centralized world is always difficult. We can still avoid KYC on any centralized platform in the crypto space, while we grant access to that data for non-crypto platforms. That is the average case so far, even if you are very anonymous in the crypto space.
KYC is completely useless for those of you who care about data security and privacy protection, but of course keeping it safe and untouched in this highly centralized world is always difficult. We can still avoid KYC on any centralized platform in the crypto space, while we grant access to that data for non-crypto platforms. That is the average case so far, even if you are very anonymous in the crypto space.
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies. also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
SO, last things is don't do KYC every time if it's not neceserry...
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it.
It's big issue because of Why KYC is extremely dangerous – and uselessQuote
but, sometimes this type of project get down.
It is another big problem which is harder to see. Why do you need to KYC to buy shitcoins when eggs have yet become scam chickens? You want to take risk earlier than others and have to accept KYC, if you are ready, do it but I don't do it, never do it.Quote
On this sisuation they are able to sell our information on Dark web or other Agencies.
KYCing means you accept to lose all documents you submit to more people, not people on the platform you submit those documents. 
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies.
As long as you're using a centralized crypto platform, expect anything to happen from them regarding your information given to them, if you think you have the mindset to protect your own privacy then you can stay clear away from them because they cannot be predictable, also don't present any information of yourself on any platform as part of KYC requirements if you think you can't afford to risk them been used against you any time, especially the sensitive ones.
also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
Government can demand for anything from them as long as they are centralized and regulated, they are subjected to government regulations, law and authority.
OP, you write that filing KYC is not a problem for you. If you look at your history, then you probably showed your documents more than once. But for some reason, I think that all the projects in which you participated, sooner or later, will not be anything important, and the developers will have no choice but to at least make money on the sale of your documents.
Have you ever thought about it? The honest word of those who say that your documents will not be shown to other people is not worth a dime. This is the Internet, where everything is bought and sold.
Have you ever thought about it? The honest word of those who say that your documents will not be shown to other people is not worth a dime. This is the Internet, where everything is bought and sold.
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies. also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
SO, last things is don't do KYC every time if it's not neceserry...
Many aware about the risk so most of the people make sure that they are going unto legit platforms and never risk on exchange where they don't know if legit or not since maybe they can really encounter that problem about selling their identities anywhere.
We should never give our identity easily and we need to see if the platform ask has a credibility also don't have any identity leaking issue so that we can assure our safety with them.
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies. also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
SO, last things is don't do KYC every time if it's not neceserry...
I thought IDO meant Initial decentralized offering, what is coming over these guys these days or is Defi now Cefi. People were neglecting IEO back then because of the KYC issues and then people came up with the idea of IDO, some investors that value privacy started having the advantage of getting earlier to this project public sale through a mechanism and policy but it strange that they now request for KYC, this is really bad or perhaps this is the reality of bear market to reduce participants.
It is not a must that you will have to partake in IDO, if they insist, kindly allow them to do their things, it's even difficult to get high returns on the new project they sell, they don't have any returns, and the max you can get is 2x or you may get dump on if the project is not worth it.
My recommendation is that you should pick a trustworthy cryptocurrency exchange or platform that has robust security procedures and a reputation for protecting user data and, if practical, utilise additional security measures like two-factor authentication in order to reduce this risk.
Almost every platform even the centralized ones definitely set out to be a trustworthy one, they would say that they wouldn’t give out your information out but that is by the way except some circumstances faces them. The issue of KYC leak is not something two-factor verification can solve but rather something it is scary in the sense that the platform could give them out base on government requests or the most common and scary one is when there is a data breach, the hackers get full access to your information and could use it to get to you not only on that platform but probably some where else. And this isn’t something that two factor authentication can solve, so ones you do a KYC just be hopeful and be extra cautious on some mails you receive
Arent IDOs made on exchanges like Bybit, and Kucoin? Although I know some of them require identity verification (probably to make sure that no one is cheating the system) I don't believe that the data is shared with the projects.
IDOs are usually held on DEXs (hence the name), but instead they often accept new tokens subject to regulations. Even though requesting KYC is actually contradictory, I saw many IDO platforms implementing that requirement during the popularity of defi projects. In the end, there is no difference between IEO and IDO, only there are no locked tokens on your purchases. 
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies. also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
SO, last things is don't do KYC every time if it's not neceserry...
@Ratimov provided us with list of exchanges that can offer us services without KYC HERE
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies.
It is a big issue and that's why because of what you've said in the latter. And if you think that it's not a big issue to pass on with that, for the most as much as you can issue it's a matter of concern.also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
SO, last things is don't do KYC every time if it's not neceserry...
If the government steps in and that exchange or project is registered, they have to comply what's being asked on them. This has happened several times in the US and I think in some other countries as well. It's not just all about the projects that we're complying for KYC but also in many exchanges where we're sending our IDs and as well as for the casinos that might ask for it. If you don't want to comply for it, much better to choose wisely the platforms that you're using. SO, last things is don't do KYC every time if it's not neceserry...
if you have concerns regarding your privacy data, it is better to stay away from KYC wherever you access the platform. but if indeed you are required to do KYC for a trading platform or something else, of course, you have to verify that the platform is indeed reputable.
as for the IDO project, the KYC request is related to their launch platform. I don't know if the project personally asks for KYC documents before their product goes live. but if there is something like that, you better be careful and more serious about researching the project.
Seems difficult if aware for exposing data trough KYC in exchange account for investing in cryptocurrency, all exchange required with KYC and some new project launchpad trough IDO required for KYC. Personally I don't get problem with exchange market required for KYC and need to submit our ID but with new project and not popular yet I don't agree for submitting my document ID. Right now not only with participating in IDO required for KYC but also many kinds of airdrop project need to us to expose or submit ID document if want get airdrop reward, you will miss receive coins reward if not pass KYC. as for the IDO project, the KYC request is related to their launch platform. I don't know if the project personally asks for KYC documents before their product goes live. but if there is something like that, you better be careful and more serious about researching the project.
Can't denied with new rule for uploading document ID trough KYC because want to trade or withdraw fund in exchange market account required for KYC.
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies. also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
SO, last things is don't do KYC every time if it's not neceserry...
as for the IDO project, the KYC request is related to their launch platform. I don't know if the project personally asks for KYC documents before their product goes live. but if there is something like that, you better be careful and more serious about researching the project.
Arent IDOs made on exchanges like Bybit, and Kucoin?
There are also so called "launchapds" like (for example Enjinstarter, BSCPad etc) where majority of altcoin projects usually conduct their IDOs.My rule is to pretty much only submit AML/KYC when totally necessary. If my memory serves me right, the only crypto-related platform that I submitted AML/KYC is Binance simply because I really need(liquidity is quite high) their P2P platform.
Same here, I only went through KYC on Binance and it was only because I had to do it. What happened is that I lost access to 2FA (my phone suddendly died) while I couldn't find recovery code and it happened at the worst possible moment as I just sent some crypto there so it was either to forget about the money or go through KYC and I opted for latter as the amount was quite big. 
You do have a point, however in order to succeed in life, one must take risks. However, one must always choose their risks carefully. Anyhow, KYC (know your customer) verification means that the cryptocurrency exchange or platform may be exposed to your personal identification and transactions. If you are not watchful and careful, you may end up using a platform without adequate security measures, which leaves your personal information open to unauthorised access.
My recommendation is that you should pick a trustworthy cryptocurrency exchange or platform that has robust security procedures and a reputation for protecting user data and, if practical, utilise additional security measures like two-factor authentication in order to reduce this risk.
My recommendation is that you should pick a trustworthy cryptocurrency exchange or platform that has robust security procedures and a reputation for protecting user data and, if practical, utilise additional security measures like two-factor authentication in order to reduce this risk.
It’s probably not safe on to do kyc on every platform you come across rather just stick with reputable platforms that we know would last for some time. I only settle for platforms that have good reputation and is well used by alot of people rather than a new platform which may offer lesser fees and other enticing offers and services just to lure more customers to utilize their platforms. Let’s be careful how we give out our information on different platforms.
Generally nobody likes to undergo kyc but it's the urgency and necessity of the project that makes us give out our details granting us access to now be able to make use of such project. But if you feel you can't give out your details then there are alternative exchange with no kyc requirements, it all depends on what you're looking for and from which you can get what you're in need of.
When dealing with exchanges be sure to make use of exchanges with good reputation over the years, in the crypto industry reputation is an essential commodity that every crypto user should be interested in about an exchange before going on to register with it. For an exchange like binance even though been a Cex, owing to their reputation I doubt it's in the business of selling out customer's details to some dark web.
When dealing with exchanges be sure to make use of exchanges with good reputation over the years, in the crypto industry reputation is an essential commodity that every crypto user should be interested in about an exchange before going on to register with it. For an exchange like binance even though been a Cex, owing to their reputation I doubt it's in the business of selling out customer's details to some dark web.
My rule is to pretty much only submit AML/KYC when totally necessary. If my memory serves me right, the only crypto-related platform that I submitted AML/KYC is Binance simply because I really need(liquidity is quite high) their P2P platform.
IDO platforms though? I can live without 'em. I'd rather buy the shitcoins on DEX platforms.
IDO platforms though? I can live without 'em. I'd rather buy the shitcoins on DEX platforms.
Arent IDOs made on exchanges like Bybit, and Kucoin? Although I know some of them require identity verification (probably to make sure that no one is cheating the system) I don't believe that the data is shared with the projects.
You still cannot trust Kucoin or Bybit with your personal information. They may not share it with the projects can share it with some other third party who could use it for nefarious purposes.The best is never KYC in any platform especially you who're live in Bangladesh where Bitcoin is illegal on there, as you said above those project are ready to share with government...
Even if you live where Bitcoin is legal you should be aware that such laws change quickly and you cannot unshare your privacy.- Jay -
The best is never KYC in any platform especially you who're live in Bangladesh where Bitcoin is illegal on there, as you said above those project are ready to share with government, what if they know if their citizen are associated with Bitcoin? you broke your country law, better to check the punishment about that rule.
Privacy is important, you can use Bisq to trade without KYC.
Privacy is important, you can use Bisq to trade without KYC.
Arent IDOs made on exchanges like Bybit, and Kucoin? Although I know some of them require identity verification (probably to make sure that no one is cheating the system) I don't believe that the data is shared with the projects.
Now if you're referring to other platforms, then it's probably better to stick to exchanges you already have an account with. You don't want to just submit your documents to every platform out there. Besides, any big project will more than likely end up in one of these exchanges.
But if you're concerned about your identity (and you should be) then it's probably best to avoid KYC platforms alltogether..
Now if you're referring to other platforms, then it's probably better to stick to exchanges you already have an account with. You don't want to just submit your documents to every platform out there. Besides, any big project will more than likely end up in one of these exchanges.
But if you're concerned about your identity (and you should be) then it's probably best to avoid KYC platforms alltogether..
Many of the crypto Trading platfrom and other such as IDO platfrom required KYC for full access to their service. it'a not a big issue to do it. but, sometimes this type of project get down. On this sisuation they are able to sell our information on Dark web or other Agencies. also, if our goverment force them to share personal information i think they might be ready to share. so, it's hard to get full access from a KYC required project.
SO, last things is don't do KYC every time if it's not neceserry...
Jump to: