Please share any recommendations as to how to make KYC( know your customers ) effective!! and probably; is it even needed?
Now in all new project, KYC is required it's mean that where you are signing up you realize that if KYC is must then it secure 
Topic: KYC challenges (Read 1037 times)
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Right, it's a bit tricky and the result will be messy too. So there's a thin line between its effectiveness and abuse if it our data goes to the hands of a bad actor. That's why I said it should be case-to-case basis, however, it seems others doesn't mind giving out their personal data in receiving their reward for being a bounty hunter so again, don't be surprised if you found out that your information has been leak somewhere else.
Do you think that hackers are not smart enough and just would deposit the hack coins directly to an exchange? Of course, they will try to obscure and hide their tracks from investigators. And hackers would just go and deposit it to a exchange wherein there is no KYC needed get out and then just rinse and repeat. It would be very difficult to track them out or they could outsmart them by sending fake KYC.
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~ snip ~
Right, it's a bit tricky and the result will be messy too. So there's a thin line between its effectiveness and abuse if it our data goes to the hands of a bad actor. That's why I said it should be case-to-case basis, however, it seems others doesn't mind giving out their personal data in receiving their reward for being a bounty hunter so again, don't be surprised if you found out that your information has been leak somewhere else.
Do you think that hackers are not smart enough and just would deposit the hack coins directly to an exchange? Of course, they will try to obscure and hide their tracks from investigators. And hackers would just go and deposit it to a exchange wherein there is no KYC needed get out and then just rinse and repeat. It would be very difficult to track them out or they could outsmart them by sending fake KYC.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
You just follow the rules on how they want their customers to do KYC for them if they want a passport and a selfie with you holding your passport then you just have to give it to them, I think it is one of the effective ways to do KYC, some people are cheating the KYC by submitting other people's passport, and about your questions is it even needed, in my opinion, we don't need that if we are in their bounty campaign, but not if we are their investor.Providing KYC details for the bounty campaigns is not good actually.
When you want to participate in the bounty campaign please read the norms for the payments as well as about the ICO idea before you plan to join with them.
Mosly people do not take time to see all these things while joining the bounties.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
You just follow the rules on how they want their customers to do KYC for them if they want a passport and a selfie with you holding your passport then you just have to give it to them, I think it is one of the effective ways to do KYC, some people are cheating the KYC by submitting other people's passport, and about your questions is it even needed, in my opinion, we don't need that if we are in their bounty campaign, but not if we are their investor.Providing KYC details for the bounty campaigns is not good actually.
When you want to participate in the bounty campaign please read the norms for the payments as well as about the ICO idea before you plan to join with them.
Mosly people do not take time to see all these things while joining the bounties.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
You just follow the rules on how they want their customers to do KYC for them if they want a passport and a selfie with you holding your passport then you just have to give it to them, I think it is one of the effective ways to do KYC, some people are cheating the KYC by submitting other people's passport, and about your questions is it even needed, in my opinion, we don't need that if we are in their bounty campaign, but not if we are their investor. 
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
Depends on the laws and regulations in your territory. In many of the countries, KYC is mandatory if you are dealing with currency or financial assets. The level of KYC required can vary. In some nations, just a phone number may be enough. In some others, passport details and address proof may be required.
It's not really hard, it's just a basic requirement every time you invest and even open a bank account.
The law will be implemented, otherwise you will not be able to avail on the financial services.
In crypto, I have complied a lot of KYC requirement especially in bounty, but only those that I believe are legit and can be trusted.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
Depends on the laws and regulations in your territory. In many of the countries, KYC is mandatory if you are dealing with currency or financial assets. The level of KYC required can vary. In some nations, just a phone number may be enough. In some others, passport details and address proof may be required.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
If you ask me it's not recommended and would not even recommend to any project, unless they can prove that you are going to set up a company that is compliant to any government rules and guidelines, but if you are working on a company, don't do it, unless you are 100% sure that you are working in a real project.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
It is up to the company that asks for KYC, but if you are running a company and you want your customers to do KYC, a single pic with him holding his legal ID be it passport or driver license is sufficient enough it is needed for compliant but I'm not going to do this for any ICO.
but for hold id and a self photo it is a form of dismantling one's identity? I also won't do that, even though they have large rerward
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
Are you the one asking or are you the one who is going to submit KYC to the site, passport and driver's license is enough you can do or ask selfie, this is how they ask or do a selfie and I think that's enough to verify one's account.
sending out personal informations would really be a big hindrance to do so.
Verification is needed due to legal process but this had been abused by some just to collect data or documentations into its users.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
Are you the one asking or are you the one who is going to submit KYC to the site, passport and driver's license is enough you can do or ask selfie, this is how they ask or do a selfie and I think that's enough to verify one's account.
It is up to the company that asks for KYC, but if you are running a company and you want your customers to do KYC, a single pic with him holding his legal ID be it passport or driver license is sufficient enough it is needed for compliant but I'm not going to do this for any ICO.
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We have the same sentiment regarding this issue mate
. I am into KYC if it is only implemented for acquiring long term services of a particular company. The best example I could present is when I sign up to coins.ph (the digital wallet I used right now). I have no hesitations to tell them about my credentials (including my full name, address, birthday, government issued ID and my picture) because first and foremost, they are a trustworthy company and second, I understand that they need those parameters in order to reach out their customers when complaints occurred and as well as protecting their company against dirty transactions. But saying that it will be implemented for every ICO we join? Nah, I don't think it would be necessary at all because it absolutely makes as feel uncomfortable knowing the fact that our personal infos are handled by a team in which credibility still remains a question.
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We have the same sentiment regarding this issue mate
. I am into KYC if it is only implemented for acquiring long term services of a particular company. The best example I could present is when I sign up to coins.ph (the digital wallet I used right now). I have no hesitations to tell them about my credentials (including my full name, address, birthday, government issued ID and my picture) because first and foremost, they are a trustworthy company and second, I understand that they need those parameters in order to reach out their customers when complaints occurred and as well as protecting their company against dirty transactions. But saying that it will be implemented for every ICO we join? Nah, I don't think it would be necessary at all because it absolutely makes as feel uncomfortable knowing the fact that our personal infos are handled by a team in which credibility still remains a question. Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
It is up to the company that asks for KYC, but if you are running a company and you want your customers to do KYC, a single pic with him holding his legal ID be it passport or driver license is sufficient enough it is needed for compliant but I'm not going to do this for any ICO.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
From the point of view of stock exchanges and ICO teams, conducting a KYC check cannot be effective at all. KYC checks should be conducted to prevent the laundering of dirty money and combat the financing of terrorism. Therefore, only law enforcement agencies of states that used the information collected about them about the clients of the stock exchanges and the ICO can assess the effectiveness of such verification. I think that there are not so many cases in the world when the collected information made it possible for someone to expose in the laundering of dirty money or the financing of terrorists. 
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
KYC checks should be conducted only for traders with large trading volumes and large investors in ICO projects. For other categories of people it is meaningless. With respect to bounty hunters, KYC checking is generally illegal. It should be used only for the purpose for which it was created - the prevention of money laundering. In any case, it cannot be used on this forum to combat the presence of multiple accounts for some users. Violation of our right to privacy cannot be justified by this.In general, KYC verification - this should be a problem of state bodies.
I completely agree with your opinion, although it seems to me that you can not say that KYC is illegal in relation to bounty hunters. Companies are not obliged to collect data in their case because the purpose of introducing KYC was definitely different (as it has been said many times) but I am afraid that there is no law that prohibits the collection of personal data. So it's always your decision whether you will want to take part in bounty and pass your personal data or not.
Personally, I am an opponent of such a solution and I try to protect my data as much as possible - that is why I would not risk losing my sensitive data for a few miserable dollars.
I suggest people do a thorough background check with any companies requesting KYC documentation because potentially this can be misused or sold into the black market. When possible, it's best to avoid KYC, but to the extent that it is needed for legal compliance and to trade cryptocurrencies, people should be very selective.
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
KYC checks should be conducted only for traders with large trading volumes and large investors in ICO projects. For other categories of people it is meaningless. With respect to bounty hunters, KYC checking is generally illegal. It should be used only for the purpose for which it was created - the prevention of money laundering. In any case, it cannot be used on this forum to combat the presence of multiple accounts for some users. Violation of our right to privacy cannot be justified by this.In general, KYC verification - this should be a problem of state bodies.
they are just part of marketing area.Just to tell my recent registration on a unpopular exchange, even withdrawing $50 do already required you to get verified.
I feel you bro . kyc is really a though thing and this is the hottest issue that we are facing nowadays . bounty and airdrops should be excluded in kyc's because people dont invest a money on these kind of activities . but it is okay if kyc can be included on wallets and exchanges even if the deposit or withdrawal amount isnt really large enough . that is to avoid fruadsters and other illegal activities . kyc is for our own good and it is really beneficial if done properly .
about anonymity and giving out any personal docs is fully contrary on what we do like here on crypto space but as part of reality we are facing
these services and institutions would really need to comply on whats being asked by the government.
Why would they follow the government ? You already mention that cryptos are anonymous or decentralized , in short its independent . no government can dictate it . kyc does not makes no sense to me . kyc is only trashing the real purpose of cryptos . i dont do kyc and other users should not also do it . if no one will do kyc, no bounties/airdrops/ico's will also require it . trust me .
I do not know what you mean under the word "effect". Isn't it can be counted as effectively use of KYC instead of just let people to join incognito? The system has shown itself already and due to positive results now it seems like everyone wish to use it. That's what I call effective use of something.
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