Passport and also driver's license will do seeking lender assertion will be a lot of yet in the event you actually rely on the particular ICO that you will be investment next just do it nevertheless they must present compliant for the authorities in which they may be positioned, I think, you may simply offer the lender assertion with a authorities license business,
Topic: Why exchange want to bank details for kyc??? (Read 1908 times)
A friend of mine told me about KYC with bank details I immediately told him not to do it and forget about it because i was very suprise about hearing that. But in general am careful when it comes to KYC.
Hello every one please post your valuable suggest, why an exchange required bank account details to complicate their user verifying, are is it legal for crypto market , generally we give passports, or national I’d card to verify exchange account . I see some one exchange require bank details to verifying their user account. Please everyone give suggestion about this. Thanks everyone
Maybe it would have been best if you listed down the exchanges that does that and how it happened. If they do, maybe it’s for a way to send your payments to you, cause I’m sure they will always ask for details whenever you want to withdraw your money, unless they are paying the money to your Bitcoin wallet, but if it’s to your bank account, then you’re gong to give them your bank details to be able to receive your payment. hero member
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Hello every one please post your valuable suggest, why an exchange required bank account details to complicate their user verifying, are is it legal for crypto market , generally we give passports, or national I’d card to verify exchange account . I see some one exchange require bank details to verifying their user account. Please everyone give suggestion about this. Thanks everyone
I don't know what their purposes but so far, when I verify at the exchange, I don't need to send the bank account details and I only send my national ID card, telephone number and of course with the face holding the national ID card. And if there is an exchange require bank details, then I don't want to verify in their site because I don't want the exchange knows about my bank details. Many other exchanges don't require the bank details, and you can register with them.
I dare not to tender sensitive information about me in the name of kyc it is not that important for me to participate in that ico i would buy on exchange instead of tendering my personal information.
Hello every one please post your valuable suggest, why an exchange required bank account details to complicate their user verifying, are is it legal for crypto market , generally we give passports, or national I’d card to verify exchange account . I see some one exchange require bank details to verifying their user account. Please everyone give suggestion about this. Thanks everyone
LOL.
You are scared about your bank details? What are they gonna do send you money ?
You should be worried about givig your passport data easily away, if one is not trading against fiat, there is no legal reason for KYC. So be carefull who you give your data to, otherwise one day you will recive a letter saying that you are in debt for purchasing something you did no buy,
Basically if your withdrawal request is small you can use many exchange without KYC verification.But most of the time small exchange is not asking KYC. Hitbtc and IDAX both of big exchange but normally you can used it for limit withdrawal.
They only want to comply AML and Regulation, but actually not all exchange required KYC to able to trade in their platform. Exchange that located in USA like Bitrex and Poloniex is required KYC for all customer because they want to follow rules of SEC. But others Asian exchanges like Binance, Okex, Bibox etc offer account unverified with limited minimum daily withdrawal.
Hello every one please post your valuable suggest, why an exchange required bank account details to complicate their user verifying, are is it legal for crypto market , generally we give passports, or national I’d card to verify exchange account . I see some one exchange require bank details to verifying their user account. Please everyone give suggestion about this. Thanks everyone
They are asking for your bank details because of when you are to withdraw the money to your bank account which makes it easier. If you do not want to put your bank details then you don't have to. If an exchange makes it mandatory to put your bank details to verify your bank account then you should move away from it and find another exchange. Hello every one please post your valuable suggest, why an exchange required bank account details to complicate their user verifying, are is it legal for crypto market , generally we give passports, or national I’d card to verify exchange account . I see some one exchange require bank details to verifying their user account. Please everyone give suggestion about this. Thanks everyone
Usually I use national Identification card for kyc requirement just to claim my reward tokens but bank accounts are too much and it looks like a malicious intention .
I think even if most of us who invest in cryptocurrency the important is anonymity, for big transaction I think is more secure to us since there are a lot of scammers that can even fake documents. KYC aims to verify your identity and will assist you in the event of a problem. This safeguards you and that is also the law of transactions through the bank.
The only moment that they can ask your bank details is when you want to withdraw, it's strange if the exchange ask this information initially except if you want to buy through your bank.
The only moment that they can ask your bank details is when you want to withdraw, it's strange if the exchange ask this information initially except if you want to buy through your bank.
I think the information contained in my you know your customer details should suffice for any accreditation and confirmation of your identity. Asking for bank details is way above the regular requirements for trading cryptocurrency.
Probably it is connected with the regulation of the SEC, I think that it will definitely be connected with the SEC, because it is from them that this requirement comes and they integrated it, how do you think this complicated the work of ICO? I think that most of the problem is still a scam project.
Because this is necessary with all your transactions through the bank. It aims to verify your identity and will assist you in the event of a problem. This safeguards you and that is also the law of transactions through the bank
If for cryptocurrency it is not necessary to KYC because KYC is damaging the image of the cryptocurrency that is Anonym.Maybe if we are in contact with a conventional bank then we also need to for KYC (maybe for some people).
I think governments wants to see if you earn alot of money on cryptos that's why the charge some exchanges and taking a huge taxes. For me KYC is not good even if you had a huge amount money. We don't want government control us. I'm sure people in crypto space wants to have a decentralize exchange.
Because this is their security guarantee. Scammers are now a huge number and a lot of forged documents. And the passage of verification confirms the identity
Yeah, I agree with you. Now, there are many scammers in crypto industry, maybe that's the main reason for the team to do that. Besides that, I think the team of the project wants to anticipate any money laundering activities. So, it's just for the security reason actually.
Because this is their security guarantee. Scammers are now a huge number and a lot of forged documents. And the passage of verification confirms the identity
Hello every one please post your valuable suggest, why an exchange required bank account details to complicate their user verifying, are is it legal for crypto market , generally we give passports, or national I’d card to verify exchange account . I see some one exchange require bank details to verifying their user account. Please everyone give suggestion about this. Thanks everyone
The best way for a newbie is to follow experienced bounty hunters, you can find a lot of them on the forum. And please do not multiply existing topics, you are not the first one who asks such a question, use forum search 
It is not very good that they do so, but then if you can be judged with them. They are required to keep these documents and not to pass it on to anyone. Though still can transfer if you press for example a tax or a commission on securities. The future is likely to be decentralized exchanges in which kyc is not required if the government tightens the laws on crypto-currencies and blockchain.
most exchange that do KYC are centralized and subject to be prosecuted if charge for break AML because they hold license that originate from a particular country which give them freedom to carryout their business. KYC is very important for them because they do not have control in determine or knowing the nature of the asset being deposited to the platform by the users but in case the matter arise that a user deposited a stolen asset then they have opportunity to reveal the true identity of the culprit.
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