Topic: KYC Demands - How Safe are my Personal Details submitted? (Read 487 times)
Now we are accustomed to seeing crypto running, there is a request to do kyc, but there are also those when they run the new information they need. sometimes too upset if we experience information in the middle of ico, that's what we need. Frankly, I really avoided the existence of kyc even though this project was fun, but I just wanted whether kyc could guarantee the confidentiality of personal identity for people we don't know, for that I really avoided kyc, as long as it could be avoided.
It's a common phenomenon among new projects and ICO's requesting for KYC before you can buy their token or participate in any giveaway they are offering. How safety the documents uploaded are is something that is still missing in the crypto space. No provision to audit or trace how our documents are being uploaded and protected from identity theft, abuse and the likes. The crypto space is still at an infant stage and most things will normalize as the time unfold. Just ensure you only provides KYC to legitimate projects after doing your own background research.
I dont understand why a lot of bounty hunters are risking their identities just to get small amount if not a shit coin.
Just like what you said, the security of the information uploaded in their system remains uncertain. So, where does this bounty hunters got their courage to expose their essential info over someone in the internet?
I myself even have a doubt at first on whether I should pass KYC verification in my local exchange to further enhance my withdrawal limits.
It's a common phenomenon among new projects and ICO's requesting for KYC before you can buy their token or participate in any giveaway they are offering. How safety the documents uploaded are is something that is still missing in the crypto space. No provision to audit or trace how our documents are being uploaded and protected from identity theft, abuse and the likes. The crypto space is still at an infant stage and most things will normalize as the time unfold. Just ensure you only provides KYC to legitimate projects after doing your own background research.
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I'm one with you, that is why I am very particular on bounty campaign and ICO that I'm investing in, they are not safe and they will never be safe, we have seen so many ICO running away, together with your sensitive information, they now have control of your online identity.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
When we send our personal details, it was safe. But the problem, we don't know what next they will do with our personal details because they can sell it to another person or send it to another company so they can invite us to join with them. I heard that in the darkweb, the personal details were being sold for money but I don't know if that is true or not.
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
The first KYC I've participated in was over a year from one project, the project is now gone and I'm still wondering what happens to my vital information I've uploaded in their website, could be in the hands of a syndicate one of my friend told me that you can buy people's information by bulk in the dark web, so it is very risky to do KYC in ICO.
But my question is , is the project scam ? If they payed you then its not a scam and you shouldnt worry about your personal infos because they wont use it on other illegal purposes . in my case i did not ever participated on a kyc oriented projects because i dont have the required i.d but im not afraid to give my personal info as long as the project is legit . you should also do because i notice that all kyc related projects do pays big compare to non kyc projects , most of them are also verified and seem to be legit
Where you do get that projects that do have kyc pays better compared to those who dont ask? Theres no assurance regarding on that IMHO.
Apart from big exchanges, if your instinct tells you not to go with it then you stay away to avoid regrets. I think scam is possible if it is not legit. Requesting for KYC is foreign to crypto but we are now observing it lately.
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
The first KYC I've participated in was over a year from one project, the project is now gone and I'm still wondering what happens to my vital information I've uploaded in their website, could be in the hands of a syndicate one of my friend told me that you can buy people's information by bulk in the dark web, so it is very risky to do KYC in ICO.
But my question is , is the project scam ? If they payed you then its not a scam and you shouldnt worry about your personal infos because they wont use it on other illegal purposes . in my case i did not ever participated on a kyc oriented projects because i dont have the required i.d but im not afraid to give my personal info as long as the project is legit . you should also do because i notice that all kyc related projects do pays big compare to non kyc projects , most of them are also verified and seem to be legit
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
The first KYC I've participated in was over a year from one project, the project is now gone and I'm still wondering what happens to my vital information I've uploaded in their website, could be in the hands of a syndicate one of my friend told me that you can buy people's information by bulk in the dark web, so it is very risky to do KYC in ICO.
I also was wondering why they need for KYC why I wish to remain anonymous in an anonymous platform. Cryptocurrency promised us decentralized platforms and as such anonymity should be promoted.
Your idea is very much considered. We didn't hear this KYC like in late 2017. With the dawn of the day and with things happening around cryptocurrency, I think this KYC is beginning to be everywhere now. Cryptocurrency and block chain should keep details as anonymous but the reverse is now being the case, it is beginning to have human face and identity. I think the purpose is being taken over.
isnt really correlated nor needed but as expected when these platforms and services involved with fiat money transactions,it will always tied up with governments policies.
What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
One has to be careful with this new pattern of requesting for KYC . For old and reliable exchange, well... I don't know exactly what to advise but for new exchange that has not proven her worth in security, it is risky. In fact, KYC can be an avenue for account hacking.
possible usage of those without your permission and this had always been the risk.
What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
One has to be careful with this new pattern of requesting for KYC . For old and reliable exchange, well... I don't know exactly what to advise but for new exchange that has not proven her worth in security, it is risky. In fact, KYC can be an avenue for account hacking.
I also was wondering why they need for KYC why I wish to remain anonymous in an anonymous platform. Cryptocurrency promised us decentralized platforms and as such anonymity should be promoted.
Your idea is very much considered. We didn't hear this KYC like in late 2017. With the dawn of the day and with things happening around cryptocurrency, I think this KYC is beginning to be everywhere now. Cryptocurrency and block chain should keep details as anonymous but the reverse is now being the case, it is beginning to have human face and identity. I think the purpose is being taken over.
The best way to follow a project is to carefully read clearly all the provisions made. if there really is an instruction to use KYC and we don't want it, maybe don't force it to continue. but sometimes there are projects that like to be naughty, just give information there will be KYC after the ICO is finished.
My principle is clear that if there is KYC, I certainly will not like to be followed, because I consider that personal identities cannot be shared by everyone, especially for projects that we will follow. because there is no guarantee that the confidentiality of our identity is not misused.
My principle is clear that if there is KYC, I certainly will not like to be followed, because I consider that personal identities cannot be shared by everyone, especially for projects that we will follow. because there is no guarantee that the confidentiality of our identity is not misused.
That will depend on each activity and each site that uses it, so you should investigate the site if there is any fraud of the documents
It really depends on the company itself. How do they arrange their security. But sometimes its the case when databases get hacked and all your personal docs will be sold in darknet. Nevertheless with current European GDPR legislation supposedly your docs should be even more safe.
No one can guarantee the safety of your personal details even though they promise same. There is a growing global trend of data breaches and this will get worse if not checked. So, be careful what you submit online and where you submit them.
I am bit doubtful about this whole KYC process, nowadays everybody does it. Unless it is not a company with proven records how safe they can handle sensitive data, I do not trust them 100%
In theory, they only need personal details to filter out money launders and those type of activities. I am always a bit suspicious though, especially in the ICO world, who knows how the sensitive data will be treated
It sounds easy to do in real from their side. I also was wondering why they need for KYC why I wish to remain anonymous in an anonymous platform. Cryptocurrency promised us decentralized platforms and as such anonymity should be promoted.
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
If you are not ready to work with KYC,then you have nothing to do on the crypto market.Recently, KYC is required even for many bounty hunters,not to mention investors. I am sure that in a year or two KYC will be almost 100%. This is due to the constant attempts of many countries to introduce regulation of the crypto sphere. Naturally, on this way some of our personal data can be stolen. But again,if you are afraid of this, you have nothing to do in this market. I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
Hmmmm.... almost all ICOs use KYC this days... what really are they doing with our details.?
In my opinion, you should check first if it is legit. It is using your personal information thats why you should check its background of the company or how long does it exist.
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
This has been the serious problem for everyone since KYC verification has been implemented into several exchange and ICO's. Identity theft would be the first thing that comes up to our mind, but have you ever though that most of the people around the world are already exposing their identity through social media in a more detailed way?
KYC verification enables us to be protected legally financially. But, I understand the risk as well, I might not use an ID verification that contains a very essential information such as SSN, instead I'll be using company ID's and such alike. I am in between the line of favoring KYC and not, as long as the ICO's and exchanges doesnt ask for too much information, then that would be partly fine, but the risks are always there.
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
Your personal details are safe with a third party until the day you discover they have been sold. It does not even have to be an ICO or exchanges, just be rest assured that your details will be used for nefarious activities one day as long as you keep on submitting KYC on every platform that exist.
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
Your personal details are safe with a third party until the day you discover they have been sold. It does not even have to be an ICO or exchanges, just be rest assured that your details will be used for nefarious activities one day as long as you keep on submitting KYC on every platform that exist.
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
For KYC requirement on exchanges i do feel somehow safer but not totally 100% since they do only ask KYC when you are upgrading your account and you can still use them without any verification but there are some exchange which it is mandatory.Most of them are regulated which is somehow we would be confident on the risk of leakage of such personal informations but risk will be there if those info is mishandled.I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
For bounty or ICO's then this is the thing would really put me on hesitation risk is higher thats why im really out when we do talk about KYC on investment unless on some exceptional situations.
I think it is safe to upload your documents to exchanges specially the big exchanges like Bittrex, Binance, and so on .. . Regarding ICO that requires KYC I usually do not join them but it became common requirement for most good ICOs to pass there KYC, I believe that with big known ICOs that have known strong team your documents is safe, they are most likely gonna raise millions of dollars I do not think they will be interested in selling our identity to collect few bucks . Also we kinda have no more options as I stated most if not all good now ICOs require KYC, they are just playing it safe .
Cryptocurrency promised us decentralized platforms and as such anonymousity should be promoted. I also was wondering why the need for KYC why I wish to remain anonymous in an anonymous platform.
There are other company who requires KYC due to regulation on certain countries but this KYC and we must be careful upon giving our data's since some of the ICO companies are placing that just to steal someones information. We need to be careful on this since Privacy is more important than money and we should be vigilant always and stay cautious or else we maybe slowly digging our own graveyards if we are so fool to research on the companies who requires it to do so.
Bear in mind that most companies, exchanges, and even ICOs at the moment, actually do not have the right to request for your personal details, or do not yet provide sufficient requirements to protect your data. I'm talking about GDPR now, which likely affects all these companies, since they operate with EU markets. These requirements extend to you, and you should be aware of your own rights (particularly, the right to opt out or request removal of your data, once the purposes of KYC have been met).
How safe they are? You actually have no real way of finding out until enforcement gets to see their audits or you request information on how it is stored and secured. They must legally produce this to their monitoring authority anyway.
How safe they are? You actually have no real way of finding out until enforcement gets to see their audits or you request information on how it is stored and secured. They must legally produce this to their monitoring authority anyway.
Thank you for the in put. Regarding my right on internet, cryptocurrency and bounty involvement. Is there a guiding document that stipulates these rights? Becuse I don't know my right on this really. And just so you know, these details, once submitted I do not seem to know when it could be withdrawn. It may be with them for as long as they exist. With is another concern here.
There are several documents that provide guidance... and these are all specific to GDPR, which doesn't exclude internet, crypto, bounty, etc. Almost every single service you use now that collects so much as your IP address, must now be compliant to this new data privacy regulation (point stressed on regulation, not a mere guideline).
This is a simple starting point for you as an individual: https://ico.org.uk/for-organisations/guide-to-the-general-data-protection-regulation-gdpr/individual-rights/
In particular, you should refer to the right to erasure (or the right to be forgotten). While not absolute, the people whom you give your data to must be able to demonstrate cause for keeping your data, should they refuse to erase.
I think it is safe to upload your documents to exchanges specially the big exchanges like Bittrex, Binance, and so on .. . Regarding ICO that requires KYC I usually do not join them but it became common requirement for most good ICOs to pass there KYC, I believe that with big known ICOs that have known strong team your documents is safe, they are most likely gonna raise millions of dollars I do not think they will be interested in selling our identity to collect few bucks . Also we kinda have no more options as I stated most if not all good now ICOs require KYC, they are just playing it safe .
Cryptocurrency promised us decentralized platforms and as such anonymousity should be promoted. I also was wondering why the need for KYC why I wish to remain anonymous in an anonymous platform.
Bear in mind that most companies, exchanges, and even ICOs at the moment, actually do not have the right to request for your personal details, or do not yet provide sufficient requirements to protect your data. I'm talking about GDPR now, which likely affects all these companies, since they operate with EU markets. These requirements extend to you, and you should be aware of your own rights (particularly, the right to opt out or request removal of your data, once the purposes of KYC have been met).
How safe they are? You actually have no real way of finding out until enforcement gets to see their audits or you request information on how it is stored and secured. They must legally produce this to their monitoring authority anyway.
How safe they are? You actually have no real way of finding out until enforcement gets to see their audits or you request information on how it is stored and secured. They must legally produce this to their monitoring authority anyway.
Thank you for the in put. Regarding my right on internet, cryptocurrency and bounty involvement. Is there a guiding document that stipulates these rights? Becuse I don't know my right on this really. And just so you know, these details, once submitted I do not seem to know when it could be withdrawn. It may be with them for as long as they exist. With is another concern here.
Just a tip don't you ever send any KYC documents to the projects that doesn't have enough credibility, if they're legit or not, etc.
Even the facebook (Mark Zuckerberg) itself uses our personal information or our privacy right? There's no safe place in the internet and also a KYC documents is just for investors they used it to avoid money laundering also to know if the person itself is a legit investor to know their credibility. (Just according to my opinion)
So be careful on sending your personal information to the internet because if you've made a mistake and share it to someone unworthy they may use it to scam others or use your identity (Identity theft)
Even the facebook (Mark Zuckerberg) itself uses our personal information or our privacy right? There's no safe place in the internet and also a KYC documents is just for investors they used it to avoid money laundering also to know if the person itself is a legit investor to know their credibility. (Just according to my opinion)
So be careful on sending your personal information to the internet because if you've made a mistake and share it to someone unworthy they may use it to scam others or use your identity (Identity theft)
This is exactly my point. They some fraudulent individual coming in contact with my private documents or any one else's may use it negatively. If I need KYC to participate in bounty it is too much a requirement and I don't like it. How come more and more sites is requiring it now. This is risk I think.
My advice is, treat all of these platforms with the highest possible distrust. If they are asking for your private details, then ask back for all their agreements on these details, how they are kept and what they will be used for and how you can ask them to remove it later. Make sure the company has a legal entity (that is, a company that you can verify or locate). This is so that, in case you are not able to ask them to remove the data later, as is will be your right, you can always report or lodge complaint with the right authority.
If they cannot provide any of that. Don't. Not worth it.
If they cannot provide any of that. Don't. Not worth it.
This is helpful. It is becoming a common requirement and it leaves me very sceptical. I will follow your advice on this. That's if they ever get to reply.
Just a tip don't you ever send any KYC documents to the projects that doesn't have enough credibility, if they're legit or not, etc.
Even the facebook (Mark Zuckerberg) itself uses our personal information or our privacy right? There's no safe place in the internet and also a KYC documents is just for investors they used it to avoid money laundering also to know if the person itself is a legit investor to know their credibility. (Just according to my opinion)
So be careful on sending your personal information to the internet because if you've made a mistake and share it to someone unworthy they may use it to scam others or use your identity (Identity theft)
Even the facebook (Mark Zuckerberg) itself uses our personal information or our privacy right? There's no safe place in the internet and also a KYC documents is just for investors they used it to avoid money laundering also to know if the person itself is a legit investor to know their credibility. (Just according to my opinion)
So be careful on sending your personal information to the internet because if you've made a mistake and share it to someone unworthy they may use it to scam others or use your identity (Identity theft)
Bear in mind that most companies, exchanges, and even ICOs at the moment, actually do not have the right to request for your personal details, or do not yet provide sufficient requirements to protect your data. I'm talking about GDPR now, which likely affects all these companies, since they operate with EU markets. These requirements extend to you, and you should be aware of your own rights (particularly, the right to opt out or request removal of your data, once the purposes of KYC have been met).
How safe they are? You actually have no real way of finding out until enforcement gets to see their audits or you request information on how it is stored and secured. They must legally produce this to their monitoring authority anyway.
How safe they are? You actually have no real way of finding out until enforcement gets to see their audits or you request information on how it is stored and secured. They must legally produce this to their monitoring authority anyway.
My advice is, treat all of these platforms with the highest possible distrust. If they are asking for your private details, then ask back for all their agreements on these details, how they are kept and what they will be used for and how you can ask them to remove it later. Make sure the company has a legal entity (that is, a company that you can verify or locate). This is so that, in case you are not able to ask them to remove the data later, as is will be your right, you can always report or lodge complaint with the right authority.
If they cannot provide any of that. Don't. Not worth it.
If they cannot provide any of that. Don't. Not worth it.
If you are submitting the details to the old and well known exchanges than it is safe. But if you are submitting to some newly open exchanges or to the one which is not heard or something which is fishy than you will be doing at your own risk. So better to avoid such instances else you will regret later.
I think it is safe to upload your documents to exchanges specially the big exchanges like Bittrex, Binance, and so on .. . Regarding ICO that requires KYC I usually do not join them but it became common requirement for most good ICOs to pass there KYC, I believe that with big known ICOs that have known strong team your documents is safe, they are most likely gonna raise millions of dollars I do not think they will be interested in selling our identity to collect few bucks . Also we kinda have no more options as I stated most if not all good now ICOs require KYC, they are just playing it safe .
I am new to crypto guys. Some exchanges and high paying bounty sites are requiring KYC before you can claim your reward. What do you all advice?
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
I have recently been having some serious thoughts about the safety of my personal information supplied for KYC. Who else has ever thought about identity theft? Or am I the only one considering this? What if a scammer uses your details submitted for KYC to perpetrate some massive scam job and you are being hunted sooner or later for what you know nothing about? What's your say? 🏾
Jump to: