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Title: KYC - Connection of Identity and Wallet? Post by: Midoproj on February 09, 2018, 10:22:08 AM Hi everybody, I'm fairly new to the Crypto adventure, and as everything new can make a little nervous, I partnered with my brother on this journey.
However, does the KYC process establish a permanent connection between your identity and ETH Wallet-address, meaning, that only one of us can now undergo the process of any new ICO as his name is permanenty linked to that wallet address and the KYC-procedure would therefore not allow the other person (as he is not linked to the wallet)? Or is there no such linking and we can both apply for KYC using the same Wallet addresses. Does anybody know and is able to shed some light? Thanks in advance and best wishes Title: Re: KYC - Connection of Identity and Wallet? Post by: mk4 on February 09, 2018, 11:15:27 AM Give us more information. KYC for what specifically? Owning a BTC or ETH wallet doesn't need KYC. If it's about ICOs, then I'm really not 100% sure but why not have separate wallets to prevent potential issues instead? It's not like you'd have to spend hours on making/registering a wallet. It takes only a few seconds via MyEtherWallet.
Title: Re: KYC - Connection of Identity and Wallet? Post by: fatogre01 on February 09, 2018, 01:33:22 PM Give us more information. KYC for what specifically? Owning a BTC or ETH wallet doesn't need KYC. If it's about ICOs, then I'm really not 100% sure but why not have separate wallets to prevent potential issues instead? It's not like you'd have to spend hours on making/registering a wallet. It takes only a few seconds via MyEtherWallet. I guess he is pertaining to Exchanges and ICO's. They ask they because the government told them to do so. If you're not doing anything wrong there's nothing to worry about that. Title: Re: KYC - Connection of Identity and Wallet? Post by: Midoproj on February 09, 2018, 05:03:33 PM Give us more information. KYC for what specifically? Owning a BTC or ETH wallet doesn't need KYC. If it's about ICOs, then I'm really not 100% sure but why not have separate wallets to prevent potential issues instead? It's not like you'd have to spend hours on making/registering a wallet. It takes only a few seconds via MyEtherWallet. I guess he is pertaining to Exchanges and ICO's. They ask they because the government told them to do so. If you're not doing anything wrong there's nothing to worry about that. Exactly, it was about ICOs and the implemented and now compulsory KYC-procedure. I guess as long as I get a confirmation mail for a successful KYC everything should be fine? Best regards Title: Re: KYC - Connection of Identity and Wallet? Post by: stefarion on February 09, 2018, 07:23:52 PM However, does the KYC process establish a permanent connection between your identity and ETH Wallet-address, meaning, that only one of us can now undergo the process of any new ICO as his name is permanenty linked to that wallet address and the KYC-procedure would therefore not allow the other person (as he is not linked to the wallet)? Or is there no such linking and we can both apply for KYC using the same Wallet addresses. Does anybody know and is able to shed some light? Thanks in advance and best wishes A company for which you undergo the KYC process can only link your identity to the provided address for their own purposes. If you choose to apply for another ICO (of another company) by another name (your brother's) but with the same address, then there shouldn't be any issues. Understand this: sharing of customers' personal data between companies is prohibited by law in most countries. So, if you have any problems, you can sue them (and you should, they never should have played with your privacy and your trust in them!). Title: Re: KYC - Connection of Identity and Wallet? Post by: dothebeats on February 09, 2018, 07:48:38 PM To not stress anything about this one, you and your brother could just use 2 ETH wallets for the both of you and whatever proceeds you make in ICOs and whatnot could be pooled to another address which both of you have control. KYC on exchanges isn't strict, but on ICOs I'm not fairly certain. Also, how would another exchange and ICO know that X address is controlled by you and your brother? That would be highly alarming since exchanges can only give information to the authorities if it's something to do with illegal activities but not to other companies and services.
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