As we know, many gambling sites have Kyc requirements when making withdrawals. Some people may not have a problem with this condition, but some people think differently about doing Kyc. Some people refuse to fill in their Kyc data for fear of being misused. That's a natural thing, but is the worry too much?
One of the purposes of KYC was for the platform to know their clients' identities, for them to know who they are dealing with, his or her age, where they live, their tax level, and to some point, their sources of income. These documents are what they use most often to justify if a customer is worth the amount of money they deposit into their account or not, and most times they use this data to track if the money that was deposited through the customers to their platform is legit and doesn't have any illegal activities attached to it.
But now, KYC is far, far above that. The majority of these companies, which require your KYC, use your documents for their selfish gain, sell your data to third parties without your permission, which can be used on other sites, and perform some illegal activities that you, the real owner, are not aware of, and you might be held responsible for a crime you did not commit.
Kyc actually has a function to prevent dangerous actions, such as money laundering. In addition, Kyc can also protect customers from account breakers.
I don't think KYC has any means of preventing attackers from penetrating your account; there are other security measures that could be set for you to protect your own account by yourself. Other forms of security are left for the platform security team to handle because if the security is handled from their end, then your own security is likely to be worthless. And if these attackers happen to gain access to the platform, then every user who has passed the KYC verification is at a higher risk, not just for their funds but also for their data, because nothing will be left behind.
Now there are several gambling sites that do not require Kyc to withdraw funds. That's good news. But I don't know if big money withdrawal need Kyc or not. I've never withdrawn much money.
Any gambling site that requires KYC will always make it known on their T&C, which you as a reader will read before passing a successful registration, but I doubt most of us usually pass such a test. Nevertheless, some sites, not just gambling sites, have a limit to the amount you can withdraw without KYC, and when you hit those limits, you must pass their KYC before you can proceed. But I notice that passing KYC on sites is always easier when you newly create the account because your balance will be empty as of that time, but when you have enough funds worthy of seizure, that's when you will go through hell to pass their KYC. So it's always advisable to go for gambling sites that won't talk about KYC for your withdrawal, especially those that will allow you to withdraw through crypto. Lots of them don't usually care about KYC, but most do.
Are you one of those who agree or refuse to fill out kyc on gambling sites? So far, the Kyc that you have filled in on the gambling site is safe? I've never had a problem with the Kyc that I filled out at the gambling site. Have you ever felt cheated from Kyc submitted?
Yes, I usually don't feel too good about sites that require me to pass through KYC. But if I desperately need to use that site for which I have no other option, I do pass such KYC, but I know the limit of the information I share with them.
I do also feel cheated when I come across sites where, from the beginning, they don't tell you about KYC, but after seeing some huge deposits or huge wins, they will suddenly come up with KYC options. That kind of behavior is spamming and is being done by people who have the intention to scam their users.
