Topic: KYC public service announcement. - page 5. (Read 609 times)

Much as I see reason with your line of thought, I also see it as extreme thinking. KYC is important. It is not only in the crypto world. And come to think of it, are we really saying that the decentralized nature of blockchain is sacrosanct that all identity should be hidden?


Most KYC requests are related to exchanges and those who want to buy tokens, not bounty hunters. Does it mean you will not signup to an exchange, note that there is no single exchange that lists all tokens?

KYC has always been a sensitive  issue for cryptocurrency enthusiast, the bottomline is cryptocurrency community are not in favour of KYC and whoever think KYC add anything to cryptocurrency project is actually a learner! I totally agree with point raised by the Op!

Right, it's so important to be careful who you are submitting a KYC to.  Some illegitimate projects can be selling your personal information and scanned documentation to who knows where.

that is true, i don't really know most of the project and exchanges are requesting for our personal details, just as you said the system is a decentralized system while people asking for our details. well the truth of the matter is that i can't release any of my document to anyone any exchange because they are going beyond the system authorities so we have to careful.

Everyone need to be hold all information about his/her KYC. Because it’s contain their many personal identity and if it reach to bad people they should use this badly.

I have seen quite a few topics arise over the last few days regarding KYC.

Do not give your KYC information to anyone over the internet.  Period.  Think about this for a second.  Your sending your personal documents (which contain everything needed to assume your identity) over the internet. The ways your information can be grabbed once you have used the send button are numerous.   Once the criminal has gotten your personal data they can make illegal transaction under your name, leave your documents by the scene of a crime and even set you up to take the fall for a terrorist attack (by leaving your information).  There are numerous articles on this forum speaking about stolen identities from the KYC procedure. 

Any project and project team with any value at all will recognize that its not appropriate to ask individuals to take these security risks to gain access to their ICO or bounty/airdrop program.  The projects should realize that crypto is about decentralization any privacy.  If a project is asking you to break these rules look elsewhere. 

There are not many things in this world more important than your personal documents and privacy.  Do not make a foolish mistake and send your documents in.  If you do your running a huge risk and more often than not the project you sent the information in to will be a scam or failure.  Then what?

Finally, once the governments of the world can connect you with your blockchain address you are now a complete tax slave as they will be able to see every transaction you make.  Even the .005 Bitcoin you slide to the homeless guy.  It's now a traceable and taxable event. 

Stay safe everyone.