KYC challenges - page 2. | Bitcointalksearch.org

Oilacris

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Quote from: imstillthebest on February 17, 2019, 08:27:25 AM

Quote from: Oilacris on February 08, 2019, 05:58:40 PM

Quote from: Snaic on February 08, 2019, 01:09:26 PM

Quote from: ekomic on October 24, 2018, 05:50:41 AM

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.

Should really be on this way but all of them do require it generally from big investors to bounty hunters which i can see it meaningless specially for bounters.Why would need such verification if

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 .

KYC do have advantage and disadvantage side but we are here on crypto and we know that we are aiming or do give out importance
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.

Tylev

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Quote from: ekomic on October 24, 2018, 05:50:41 AM

Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?

Bounty hunters check KYC is not only not necessary, it is illegal for them. We should not undergo any KYC checks. Such verification should be carried out only with the aim of preventing the laundering of dirty money and combating the financing of terrorism. It should not be pursued with any other, outwardly noble goals, since its conduct violates the human right to the confidentiality of the person. The KYC check is carried out by a small group of people who have temporarily united to conduct an ICO. Where and for how long will they keep our confidential data? They do not bear any responsibility for its use for mercenary purposes. In most cases, such information is not used at all. She is going to in the event that the law enforcement authorities of a country subsequently do not become interested in her and do not make the corresponding request. In fact, for the ICO team this is a dead weight and for us this represents a direct danger of its use for illegal purposes.

senin

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Quote from: ekomic on October 25, 2018, 10:51:27 AM

What's your general take then!!..you support kyc or not?
Any effective ways you can recommend to making kyc procedures effective??

It is rightly written here that the KYC check should be conducted to prevent cases of money laundering and to combat the financing of terrorism. Therefore, a KYC check should be carried out only for large investors. With regard to bounty hunters, such verification is illegal. ICO teams are now overly abused by such verification, sometimes putting us in an impossible position and forcing us to provide them with our confidential data and copies of documents when such a KYC verification is announced at the end of the ICO. This can be interpreted as fraud by ICO teams. KYC verification should not be carried away, it violates the rights of people to the confidentiality of the individual and this should not be forgotten. The activity of the ICO needs to be regulated by the state.

jrrsparkles

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Quote from: jhongzjhong on March 28, 2019, 08:45:59 AM

Quote from: jrrsparkles on March 28, 2019, 03:35:33 AM

Quote from: mich on February 18, 2019, 11:37:24 PM

If someone has a real problem with KYC then there is a chance they are doing something that is wrong or they are hiding.
There isnt much that can be done with KYC so what if someone has your ID?
People are paranoid about KYC but the truth is it is not a big deal to hand over some paperwork if you arent hiding the truth.

Don't say it is nothing wrong when someone has all our details,do you know something data of people are the most valuable thing in the world and most of the social media sites are selling our personal data to the corporates and making millions of dollars from it.

You can also find the database of KYC documents on the darkweb so we need to be careful with our documets when we are submitting KYC.

Let's just accept the fact that nowadays KYC/AML is very needed for companies to avoid possible abuse. When you are making social media that is a sort of sharing your identity so why you afraid of it unless if you find out that the site was obviously fake or scam. Then in that way your responsibility to do research before submitting your personal data. My point here is choosing a legit company were to share your information and I think that is not critical if only photos and ID.

On social media you can give any pic you want so there is no necessary it to be yours and mostly we don't upload our passport or driving license pic on the social media,Did you?
Photos will be okay to share but any identity give by government will get us in trouble when if they abuse it.

dunfida

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Quote from: jhongzjhong on March 28, 2019, 08:45:59 AM

Quote from: jrrsparkles on March 28, 2019, 03:35:33 AM

Quote from: mich on February 18, 2019, 11:37:24 PM

If someone has a real problem with KYC then there is a chance they are doing something that is wrong or they are hiding.
There isnt much that can be done with KYC so what if someone has your ID?
People are paranoid about KYC but the truth is it is not a big deal to hand over some paperwork if you arent hiding the truth.

Don't say it is nothing wrong when someone has all our details,do you know something data of people are the most valuable thing in the world and most of the social media sites are selling our personal data to the corporates and making millions of dollars from it.

You can also find the database of KYC documents on the darkweb so we need to be careful with our documets when we are submitting KYC.

Let's just accept the fact that nowadays KYC/AML is very needed for companies to avoid possible abuse. When you are making social media that is a sort of sharing your identity so why you afraid of it unless if you find out that the site was obviously fake or scam. Then in that way your responsibility to do research before submitting your personal data. My point here is choosing a legit company were to share your information and I think that is not critical if only photos and ID.

The difference of having social media personal information is that you can have the option to fake it out compared to the things being asked out by companies which your real time would match up on the informations seen on your id or any documentation which it is entirely different thing when it comes to possible risk of identity fraud once those info would leak out.

jhongzjhong

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Quote from: jrrsparkles on March 28, 2019, 03:35:33 AM

Quote from: mich on February 18, 2019, 11:37:24 PM

If someone has a real problem with KYC then there is a chance they are doing something that is wrong or they are hiding.
There isnt much that can be done with KYC so what if someone has your ID?
People are paranoid about KYC but the truth is it is not a big deal to hand over some paperwork if you arent hiding the truth.

Don't say it is nothing wrong when someone has all our details,do you know something data of people are the most valuable thing in the world and most of the social media sites are selling our personal data to the corporates and making millions of dollars from it.

You can also find the database of KYC documents on the darkweb so we need to be careful with our documets when we are submitting KYC.

Let's just accept the fact that nowadays KYC/AML is very needed for companies to avoid possible abuse. When you are making social media that is a sort of sharing your identity so why you afraid of it unless if you find out that the site was obviously fake or scam. Then in that way your responsibility to do research before submitting your personal data. My point here is choosing a legit company were to share your information and I think that is not critical if only photos and ID.

jrrsparkles

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Activity: 2520

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Quote from: mich on February 18, 2019, 11:37:24 PM

If someone has a real problem with KYC then there is a chance they are doing something that is wrong or they are hiding.
There isnt much that can be done with KYC so what if someone has your ID?
People are paranoid about KYC but the truth is it is not a big deal to hand over some paperwork if you arent hiding the truth.

Don't say it is nothing wrong when someone has all our details,do you know something data of people are the most valuable thing in the world and most of the social media sites are selling our personal data to the corporates and making millions of dollars from it.

You can also find the database of KYC documents on the darkweb so we need to be careful with our documets when we are submitting KYC.

olliecrypto

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Quote from: sunsilk on October 25, 2018, 03:22:00 AM

Quote from: electronicash on October 25, 2018, 03:06:21 AM

Quote from: Amakenzy on October 24, 2018, 06:35:14 AM

Kyc is very crucial in getting to know your customer but me i feel snapping with you holding the projects name is asking for too much, when you alrdy have a picture of you holding the ID card.

yes its needed now that projects are excluding investors from some countries like US and china.
but a photo of us holding a projects name would really be too much, they could use it to make you appear like you are part of the team. that is going to be the most scary thing. the Id card adn a photo of you holding the ID i think is enough.

I complied to a KYC requirement of an exchange so I would increase my limits and they can verify that I'm a legit customer. Don't just send your pictures holding your ID's to a very unpopular site that you are investing.

But if the site you are sending and complying KYC is trusted and fair, I guess there's no problem with it. With projects, I don't comply with those requirements and won't join any of them. There are incidents that our identities are being sold and used for different activities that's why I no longer trust those projects.

i've heard of people selling their kyc data during and after ico's but have no articles or news stating that.
anyway you can point me to a few so i can bring them up to friends while discussing the cryptocurrency realm ?

mich

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If someone has a real problem with KYC then there is a chance they are doing something that is wrong or they are hiding.
There isnt much that can be done with KYC so what if someone has your ID?
People are paranoid about KYC but the truth is it is not a big deal to hand over some paperwork if you arent hiding the truth.

imstillthebest

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Activity: 1638

Merit: 122

Quote from: Oilacris on February 08, 2019, 05:58:40 PM

Quote from: Snaic on February 08, 2019, 01:09:26 PM

Quote from: ekomic on October 24, 2018, 05:50:41 AM

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.

Should really be on this way but all of them do require it generally from big investors to bounty hunters which i can see it meaningless specially for bounters.Why would need such verification if

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 .

Oilacris

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Activity: 2996

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Quote from: Snaic on February 08, 2019, 01:09:26 PM

Quote from: ekomic on October 24, 2018, 05:50:41 AM

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.

Should really be on this way but all of them do require it generally from big investors to bounty hunters which i can see it meaningless specially for bounters.Why would need such verification if

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.

Snaic

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Activity: 658

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Quote from: ekomic on October 24, 2018, 05:50:41 AM

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.

Dreamchaser21

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Activity: 686

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Quote from: bering on January 28, 2019, 11:15:53 AM

I don't mind to giving my KYC to legal instutions especially if those institutions supported by government but i will think twice giving my KYC to particular projects such as ICO's because they cannot guarantee will abusing our data and i have seen there was people who regretting their decissions when submit their KYC because their data were abusing by irresponsible people and i don't want it happen to me

Its hard to trust anyone, and even if its the government or what since they can sell our details on a black market. KYC should be more regulated so we are safe from this kind of activities. ICO’s should not ask for any KYC or else only few investors will participats since they want more to be safe.

KorakPawon

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Yes it is. KYC is useful especially in controlling and filtering the transaction even it can't be denied that personal information of investors leak to other parties. But still, the function is amazing, it can help us to monitor the financial movement, knowing the risks, and giving experience to the customers in terms of reinforcement. Let's hope and see how it moves to another level.

Snaic

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Quote from: ekomic on October 24, 2018, 05:50:41 AM

Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?

The KYC check is designed to prevent the laundering of dirty money. Are you worried about good performance in this regard? Then you need to go to law enforcement. This is their direct task.
In ICO activities, KYC validation can be applied to very large investors. For other categories, such a check is meaningless, and for bounty hunters it is also illegal.

duongdaiduong

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Quote from: ekomic on October 24, 2018, 05:50:41 AM

Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?

Identification...
Photos of selfie with ID and a blank sheet of paper with the date-month and the project hashtag.

bering

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I don't mind to giving my KYC to legal instutions especially if those institutions supported by government but i will think twice giving my KYC to particular projects such as ICO's because they cannot guarantee will abusing our data and i have seen there was people who regretting their decissions when submit their KYC because their data were abusing by irresponsible people and i don't want it happen to me

Siren

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Quote from: ekomic on October 24, 2018, 07:31:35 AM

Quote from: Amakenzy on October 24, 2018, 06:35:14 AM

Kyc is very crucial in getting to know your customer but me i feel snapping with you holding the projects name is asking for too much, when you alrdy have a picture of you holding the ID card.

Thank u sir!!....i think kyc is a great thing!! So ICOs platforms should employ new technologies and techniques to secure data as much as possible!!!

That’s our main concern in regards to KYC requirements on how they will secure our data’s and assurance that they will not use on their own benefits,nor taking advantage since the KYC is usable for other platforms interest,for several times i had been asked by kyc but i have sended i guess only thrice for my own personal reasons

Quote from: goaldigger on January 26, 2019, 05:47:50 AM

People doesnt want their personal information to be given thats why they choose crypto as an investment. But if you look to the other side, you will see that within this vast world of internet, giving or asking for some of your personal informations are necessary for your security. Its not always negative, sometimes its way better.

As much as i tried to understand the Company needs for our KYC is the more i am trying to make sure of my details,unless theres a real and legit needs of this then i will send mine to them

Snaic

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Quote from: goaldigger on January 26, 2019, 05:47:50 AM

People doesnt want their personal information to be given thats why they choose crypto as an investment. But if you look to the other side, you will see that within this vast world of internet, giving or asking for some of your personal informations are necessary for your security. Its not always negative, sometimes its way better.

Now there is a rather strange situation. Working with a cryptocurrency on the idea of its creators should have anonymity and confidentiality for its user. However, when making payments in cash and other types of means of payment, we do not provide as much information about ourselves as in payments in cryptocurrency. Therefore, the practice of checking KYC must be fought with all possible and affordable means. Those who support KYC verification themselves consciously or unconsciously struggle with the underlying principles in cryptocurrency - its anonymity and confidentiality.

joniboini

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Quote from: goaldigger on January 26, 2019, 05:47:50 AM

People doesnt want their personal information to be given thats why they choose crypto as an investment.

No, most of them want to get rick quickly and that's why they choose ICO.

Quote from: goaldigger on January 26, 2019, 05:47:50 AM

But if you look to the other side, you will see that within this vast world of internet, giving or asking for some of your personal informations are necessary for your security. Its not always negative, sometimes its way better.

That depends on who ask your information. I don't believe anyone who never told me who are they first before giving my personal details. I made a lot of mistakes previously by giving personal details to anonymous exchange which eventually went down. I don't know what will they do with my data in the end, but I keep praying it won't be used for illegal activities. I'd avoid KYC at any cost, and try to use an alternative option if it's available.

I really hope we can solve this option by making our "KYC" as signature verification, just like Bitcoin/PGP message. That way I only need to send my KYC hash or message which can be verified by anyone in the world. Governments around the world should work together to provide a global hash identity ledger.

Topic: KYC challenges - page 2. (Read 1039 times)