KYC Verification links coins to identities. Businesses, companies and exchanges more often than not are required to take KYC in order to operate, or else face regulatory scrutiny. Yes, KYC is dangerous. If everyone were to KYC then all coins would be linked to identities, and the blockchain would become the opposite of private. Luckily, there are ways around KYC and many tools out there that can help you to avoid it. Check out kycnot.me for example. You can use Bitcoin and most services without having to complete any verification and uphold your privacy.
Unfortunately, KYC procedures will probably never be banned. They can however be boycotted by users. The more people who catch on and personally boycott/avoid KYC, the better the privacy is for them and everyone else.
Topic: Is kyc verification dangerous? - page 2. (Read 446 times)
KYC will be very dangerous if it is used by irresponsible people. there are so many negative impacts of KYC if it is used in the wrong way because KYC has almost all the information about a person. However, why is KYC verification still being enforced today? It's because of regulations in a country that require companies to know who their users are. this aims to avoid money laundering or other negative things that can come from consumers or companies.
This is why people here stress you should buy bitcoin without KYC. Privacy is essential!
KYC is bad and should be avoided at all costs.
At very least, XMR swap, or mix your coins!
KYC is bad and should be avoided at all costs.
At very least, XMR swap, or mix your coins!
Most apps usually request for kyc verification before you can withdraw any coin or money from their wallets as this is very necessary to verify or certify you as a customer.
It seems you already know the consequences of KYC, there are positive and negative values that will arise from the KYC process, if you think this action is unnecessary, then you should leave it and look for another application that offers privacy guarantees to users.Kyc verification for long has helped prevent identity theft, financial laundering or fraud, terrorism and all financial crimes.
There is no guarantee that when KYC is carried out, money laundering, fraud and all crimes can help prevent it, although though the reason for KYC is one of the steps for prevention.Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification
For applications that offer KYC verification, the danger category received by the user cannot make withdrawals and the most dangerous is user database leaks caused by irresponsible people, that's why avoiding KYC is the best choice in keeping database leaks You. 
Hello guy, I was reading a thread on this forum
https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497. recently and some other online blogs which said that kyc verification is extremely dangerous. If this is true, why do most crypto apps or other business ask for it, shouldn't it be banned or removed.
Most apps usually request for kyc verification before you can withdraw any coin or money from their wallets as this is very necessary to verify or certify you as a customer.
Kyc verification for long has helped prevent identity theft, financial laundering or fraud, terrorism and all financial crimes.
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497. recently and some other online blogs which said that kyc verification is extremely dangerous. If this is true, why do most crypto apps or other business ask for it, shouldn't it be banned or removed.
Most apps usually request for kyc verification before you can withdraw any coin or money from their wallets as this is very necessary to verify or certify you as a customer.
Kyc verification for long has helped prevent identity theft, financial laundering or fraud, terrorism and all financial crimes.
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
KYC is necessary and also not necessary, people who do not like KYC are mainly criminals, they are afraid to do it, besides some people like privacy because they do not want to be disturbed. The benefit of KYC is to limit crime of money laundering, avoid fraud… In short, KYC is both harmful and beneficial depending on your purpose.
Ideally, it should indeed be banned and removed. However, on the contrary, they are officially ordered by the government to implement it. It is not a choice as far as these centralized platforms are concerned. It is their license to operate that's on the line, after all. It's either they comply or cease and desist. They've got no choice.
For us consumers, we can only avoid it as much as possible. But can we totally avoid it? I don't think so. Banks and other financial institutions require it. We have a national ID system. The government conducts all kinds of surveys and census. Just recently, in the name of contact tracing, we are all required to fill out forms every time we enter ports, airports, bus terminals, and even ordinary business establishments. We scan codes that transfer our personal information.
For us consumers, we can only avoid it as much as possible. But can we totally avoid it? I don't think so. Banks and other financial institutions require it. We have a national ID system. The government conducts all kinds of surveys and census. Just recently, in the name of contact tracing, we are all required to fill out forms every time we enter ports, airports, bus terminals, and even ordinary business establishments. We scan codes that transfer our personal information.
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
if you are a person who wants to remain anonymous and are not comfortable with KYC, then you don't have to. if you are worried about how your trading might be disrupted, you can use a DEX exchange.I don't mind the KYC I did for several exchanges or even the casino platform. if it concerns the security of our documents, it is clear when we allow third parties to access our documents, of course, there will be other factors that make our personal data insecure.
even in the real world, some banking companies or service provider platforms also ask for KYC. more and more people don't mind this.
Hello guy, I was reading a thread on this forum
https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497. recently and some other online blogs which said that kyc verification is extremely dangerous. If this is true, why do most crypto apps or other business ask for it, shouldn't it be banned or removed.
Most apps usually request for kyc verification before you can withdraw any coin or money from their wallets as this is very necessary to verify or certify you as a customer.
Kyc verification for long has helped prevent identity theft, financial laundering or fraud, terrorism and all financial crimes.
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
Dangerous on the sense that those companies or platforms been accumulating kyc information through those users and then somewhat been leaked nor been sold out on dark market then this is https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497. recently and some other online blogs which said that kyc verification is extremely dangerous. If this is true, why do most crypto apps or other business ask for it, shouldn't it be banned or removed.
Most apps usually request for kyc verification before you can withdraw any coin or money from their wallets as this is very necessary to verify or certify you as a customer.
Kyc verification for long has helped prevent identity theft, financial laundering or fraud, terrorism and all financial crimes.
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
where it should be considered to be dangerous and risk and this is why lots of people are really that keen on submitting or dealing up with things which does have
these verification.
This is why this decentralized and anonymous market becomes really that known and popular because people couldnt really be able to have that risk like identity theft or being
used due to misused of those passed up information.
It is somehow of a double-edged sword- KYC is a guarantee and a requirement to most gambling websites and exchanges for their compliance with the government standards. In addition, this gives them the security that what they are dealing with is actually a genuine person that can be located in the event that the latter commits any illegal means and activity.
The downside is, this gives you vulnerability on your personal and contact information which can put you at the risk of data and personal information breach. The catch here is before you submit any KYC documents, make sure that you are providing this data to a genuine, legit, and real exchange or gambling website to avoid any unnecessary conflicts and problems in the future.
The downside is, this gives you vulnerability on your personal and contact information which can put you at the risk of data and personal information breach. The catch here is before you submit any KYC documents, make sure that you are providing this data to a genuine, legit, and real exchange or gambling website to avoid any unnecessary conflicts and problems in the future.
There are several pros and cons of handing your personal email for the sake of KYC but with Bitcoin you won't need to do the KYC thing. I'd prefer to use Bitcoin than use any other third party or banks that's asking for your personal information.
It's like, yeah, KYC might have its benefits and all, but handing over your personal details to some random company just feels sketchy AF. That's why I'm all about using Bitcoin - you don't have to go through all that nonsense. It's just you, your wallet, and the freedom to do what you want with your money. No fuss, no muss!
Dangerous indeed if you'd be doing it under unregistered and not acknowledged by communities, platform. Risk is for fraudalent sites to steal your information and use it for bad intentions or worse, steal your assets or savings by any chance. So if it is risky, why would it be required by some trusted platforms? One of the intentions I guess is to limit the accessibility against minors and to limit as well, easily withdrawing funds. Prevention is always better than cure so I have no problem with it. So far, I had no problems at all with undergoing Kyc procedures and maybe risk can be lessen if you'd be able to analyze the security of a platform which could be determined by factors such as its reputation in this industry as well as other users' experience.
Ah, the age-old question of KYC verification. I understand perfectly, it can be a little unnerving to hand over personal information like that. But the truth is, KYC is an important part of preventing fraud and other illegal activities and is actually a legal requirement in many countries and is designed to prevent fraudulent activities such as money laundering.
That being said, it's understandable to be cautious about giving out your information. And you should be. It's the only way to protect yourself from potential identity theft or fraud. To minimize your risk, it's important to do your research and only share your personal information with reputable companies. It's up to you to decide if the benefits of using a particular app or service outweigh the potential risks.
That's the only problem I think handing your personal information to anyone which is kind of dangerous if fall by the wrong hands. It's true that it's needed as for verification to identify who's who but if you keep sending this information to any different company then you have a high chance of being a victim of an identity thief.That being said, it's understandable to be cautious about giving out your information. And you should be. It's the only way to protect yourself from potential identity theft or fraud. To minimize your risk, it's important to do your research and only share your personal information with reputable companies. It's up to you to decide if the benefits of using a particular app or service outweigh the potential risks.
There are several pros and cons of handing your personal email for the sake of KYC but with Bitcoin you won't need to do the KYC thing. I'd prefer to use Bitcoin than use any other third party or banks that's asking for your personal information.
First reading that thread and coming to make another thread to me I can see it to be spamming because all it takes for you to understand is purely stated over there.
Then back to your question, before you start anticipating anything online you should try as best as possible to provide your identity verification details. If you are afraid of releasing your personal data also as well to avoid associating your self online or alternatively you can just avoid by using those platform that doesn't require kyc to operate on their site.
Then back to your question, before you start anticipating anything online you should try as best as possible to provide your identity verification details. If you are afraid of releasing your personal data also as well to avoid associating your self online or alternatively you can just avoid by using those platform that doesn't require kyc to operate on their site.
KYC is dangerous if you give KYC to every company I would only give my information to companies I trust. I bought a hardware wallet and had to give KYC but I think it was worth it to make my Bitcoin safe. I do not know if they keep the information on record or for how long they keep it in their records but I think you can send a email and request that they delete your information after a while. I think KYC is needed for most exchanges and I think that is the only things I would trust giving my information too.
Ah, the age-old question of KYC verification. I understand perfectly, it can be a little unnerving to hand over personal information like that. But the truth is, KYC is an important part of preventing fraud and other illegal activities and is actually a legal requirement in many countries and is designed to prevent fraudulent activities such as money laundering.
That being said, it's understandable to be cautious about giving out your information. And you should be. It's the only way to protect yourself from potential identity theft or fraud. To minimize your risk, it's important to do your research and only share your personal information with reputable companies. It's up to you to decide if the benefits of using a particular app or service outweigh the potential risks.
That being said, it's understandable to be cautious about giving out your information. And you should be. It's the only way to protect yourself from potential identity theft or fraud. To minimize your risk, it's important to do your research and only share your personal information with reputable companies. It's up to you to decide if the benefits of using a particular app or service outweigh the potential risks.
Hello guy, I was reading a thread on this forum
https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497. recently and some other online blogs which said that kyc verification is extremely dangerous. If this is true, why do most crypto apps or other business ask for it, shouldn't it be banned or removed.
Most apps usually request for kyc verification before you can withdraw any coin or money from their wallets as this is very necessary to verify or certify you as a customer.
Kyc verification for long has helped prevent identity theft, financial laundering or fraud, terrorism and all financial crimes.
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
This is very common on the centralized app or platform, it is also a part of their business and they are forced to do this especially if they are licensed and fully regulated by the government --they must have a KYC/AML. It is a necessary step for ensuring the safety and security of financial transactions. As long as you use reputable apps and platforms and take the necessary precautions, KYC verification should not put your funds and personal data at risk. It is always wise to do your research before providing any personal information to an app or platform. Ensure that the app is reputable, has good reviews, and is transparent about how they handle and protect user data, and also provide only the necessary information required for KYC verification and avoid oversharing personal information.https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497. recently and some other online blogs which said that kyc verification is extremely dangerous. If this is true, why do most crypto apps or other business ask for it, shouldn't it be banned or removed.
Most apps usually request for kyc verification before you can withdraw any coin or money from their wallets as this is very necessary to verify or certify you as a customer.
Kyc verification for long has helped prevent identity theft, financial laundering or fraud, terrorism and all financial crimes.
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
If this is true, why do most crypto apps or other business ask for it, shouldn't it be banned or removed.
Because by asking you to go through KYC/AML they are covering themselves and not you. If they don't ask for it, they will have governments on their ass so they will do everything they need to let them operate.It will only be dangerous if you submit your KYC to non-reputable crypto services or exchanges. But if you DYOR first before trying to submit your KYC, then that will prevent you from being abused from your own KYC details.
There are dangers of doing KYC even on the most reputable exchanges and crypto services as none of them are foolproof, and some of them are probably even selling their users data. Take for example Ledger data leak; you would expect from company that is into security and that sells hardware wallets to know how to take care of data of their own users, while we know what happened in the end. 
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
The most worrying thing is that if you do a KYC verification and send your sensitive documents and information to a scam application or exchange platform, your KYC data will be in the hands of scammers, who may use it for criminal activities and financial fraud. They can use your information to steal your identity and open accounts on the platforms in your name. They can sell these documents on the dark web and get money from them, so you should do your research first and avoid sending KYC documents to suspicious or unknown parties from applications or exchanges or anyone who asks you to do so. 
Is this true that kyc verification can put your funds and personal data at risk? Should we stop using any app that ask for kyc verification?
Services like casinos and exchanges need KYC to avoid money laundering and isn't an option for them to have it or not, is a must for them to operate in a legal way, business without KYC is kind of illegal.
And that's right, our data is at risk because if the exchange gets hacked then the bad guys can access all the credentials submitted by the users on the KYC process... And this is why some casinos and exchanges use a 3rd party for the KYC process.
It will only be dangerous if you submit your KYC to non-reputable crypto services or exchanges. But if you DYOR first before trying to submit your KYC, then that will prevent you from being abused from your own KYC details. KYC is unstoppable these days, as even small banks and small insurances are asking it, but what is more important is that you only pass your KYC if it’s really necessary, otherwise don’t bother submitting KYC.
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