Bitcoin Forum

I downloaded their app and during the signing up process I got bit worried of all the personal details they ask such as:
my name, residential address, identity verification.
Personally, I don't feel relaxed giving away such personal detail, am I overreacting  and it is safe or you think the same as I?

It's safe if you can trust the company but it will never be safe to give your KYC if you are thinking the company can't be trusted. You can also try to ask another user on its swissborg's telegram group about this too.

I personally will never try to give my KYC to the new company that has good reputation before.
Just caused by the CHSB gets a pump last month didn't mean if the company can be trusted.

It's never safe to give away personal information to any third party as they can sell it without you knowing or their system can be hacked leaking out data. You gotta ask yourself first if what you're getting from this Swissborg is worth the risk. Is it something that you really need? I don't even know what they do but I would not give mine if this is for some bounty or airdrop.

I don't know anything about swissborg, but if you don't feel safe when disclosing your personal data, then don't. You could get stressed and paranoid and it is really bad for both mental and physical health.

Not quite sure about if they are safe since I'm not familiar with that upon looking through web it looks like a normal site. Just my opinion if you are not comfortable giving your personal details I suggest to stay away from it but if you think that investment is really good that would cost your personal details then so be it.

Based on their terms of use it's mandatory requirements for you to be able to use their apps/service.



I don't really know about swissborg but I can say giving your personal information to a third party service isn't completely safe even it comes from a trusted company, there's the possibility that the service you use is being attacked/hacked. So if you feel uncomfortable with giving your personal then it makes sense for you to leave and uninstall the apps.

This is a great walkthrough to understand the risk of giving your personal information - Why KYC is extremely dangerous – and useless (https://bitcointalk.org/index.php?topic=5221497.0)

 It is normal for you to feel that way. It's also difficult to entrust and submit personal details while signing up such as home address, etc. But since it is part of their KYC before using the app, it's for you to decide if you'll trust the app or not. Is this the swissborg price prediction plus managing financial crypto assets you are talking about?
 
 You can check out some feedbacks here (https://www.trustpilot.com/review/swissborg.com) about Swissborg before giving out your personal details.

it's not safe, also you can't just give personal details to random site's

In the end, it will still be your decision you should follow and your intuition towards it. It's safe to assume that we can't trust them because what we are trying to risk here was our privacy and we value it. You're not overreacting most people feel the same way if they are in the same situation as you are now. For me, I'd rather avoid it but once again it will be your sole decision if you pursue it or not.

When you give out your residential address to a website, then you expose yourself to the possibility of a $5 wrench attack, and we've seen that happen quite a couple of times, plus those that go unrecorded. I don't know the website called SwissBorg, but I know that users data are usually sold on the black market, and if you complete KYC on some sites, there's no way to be sure yours won't be sold.

Users have given informations like this, only for their mail box to be spammed with phishing links that they click and their device gets compromised, imo, I think you should stop anything KYC related, it's your responsibility to protect yourself and to uphold your privacy, whatever use you have of the site may not actually be worth your private data/info being sold to scammers/hackers.

I wanted to try their services buying and switching crypto, I decided to halt the signing up process as it's not so important for me.
I can somehow understand KYC for large sums but I think it deters users from joining, maybe in the future.
Your comments supported my thought so thanks.

If you give personal documents to a company where you will be a member of the company, you must trust that company.  the Swissborg project has been running for 2 years as I remember.  My search of the Swissborg project found no crime about the project.  You have to visit Swissborg ANN thread to find some of the information you are looking for https://bitcointalk.org/index.php?topic=2161736.0

If you plan to buy crypto currency and yo don't want to use large amount I think its better to find other alternative website which is they are not requiring users to have a KYC for small transaction of crypto . there are many centralized exchange choices just make sure that exchange is available in your country and you are able to buy without problem and then your good to go.

You have every right to be suspicious, after all we don't want to send any of our personal details specially to an app. I'm not familiar with SwissBorg, so I will give it a benefit of the doubt.

So we understand your concern, I myself it confronted with that, I will do the same and stop using this app because it is asking for my identification which I'm not comfortable giving with, and it's not over-reacting, as we all know, we crypto users won't just trust any apps out there. Just look for other alternatives though that won't compromise your identify when buying cryptos.

If you have doubt then don't, you should trust your feeling it's your personal details that is in peril here, if the site that you are going to send all your personal details are not compliant and you do not know who are the people behind the project, it's better to do an investigation to make sure that you are doing the right thing better safe than sorry.

In my opinion, it is inevitable to be nervous about sharing personal data, especially knowing that there are different cybercrimes in the account of KYC. You should check for what purpose they will use your data before allowing them to access it. KYC is not only about you share your information, it is also about opening some opportunities for people to defraud and steal from you. I can see that SwissBorg respect the decisions and the security of their users, so they allow them to request for the erasure of data. You can check it here.

Source:

Swissborg isn't a small company and many have already completed their KYC, I don't think there is any reasons to be worried about this, you can find reviews about the company online, I'm sure you will be satisfied with their review but if you feel it's not safe then don't bother using the platform 

You may be right. The organization is not small, but you should always consider such points as the possibility of hacking. Where this information will go can only be imagined. Today, amid the pandemic, a lot of people have been quarantined, and the number of scammers has also increased. Moreover, fraud has now reached the levels of social engineering, which greatly simplifies the hacking of various sites. Therefore, I prefer not to trust my information to any applications at all, since there are a lot of bad stories about the theft of someone else's data and further consequences.

Are you using any such app or service for the first time?
Because almost all such services ask for atleast the basic data to create an account and use their services.
If you are sensitive about sharing even your basic data then you should switch to only decentralized services that just require connecting your wallet.

Not everyone will comfortable sending their IDs to a company so the reason why I kept using the dex from waves platform to EOS exchanges. But while we are free to do anything on DEX, the time to cash out profits isn't easy.

If you haven't yet not withdraw or cashout coins going to your bank, you would need a 3rd party just like SwissBorg which you can use to withdraw going to your bank. This is where you will be forced to submit KYC.

Any decisions you make will always be up to you especially if you think giving such private information to someone or company is risky or you have a doubt, then you can cancel it or refuse anytime. If you don't have much needed as that important risking your data then it's best to uninstall that app for better purpose. Do sometimes basic information will do as much as needed of any legal and trusted apps out there before you can fully use the app.

Just simple things:
1. Is the application trusted?
2. Do they have enough reputation and are they reputable?
If you are worried about your data and you are doubtful, I think it is better not to do that. It can minimize you being reglet in the future, what happens probably.

They have good reviews, I just don't like to spread my information everywhere, helps me sleep better at night.

Honestly, I also really object when I want to trade and have to meet requirements such as providing identity. But make sure first if it really has a good reputation or not. Don't just give your data to something you don't know yet. It will be detrimental for you.

When talking about KYC, it's actually not new. And this has been discussed a year or two ago. I think almost all platforms require to verify the identity of the user. Even some exchange platforms cannot make withdrawals without KYC.
Yes, most of the identities I use are secure. But it comes back to you for trust in the platform.

You say if you have provided all personal information means you must be sure that the data will be safe with them (even though not 100%). but personally I am very worried if I have to submit personal data on a new project

Any project you have will ask for any information, email, your real name, address. If you do not want to share your personal information and are afraid that it will get to third parties, then generally avoid such projects. Recently, control over cryptocurrencies has been increasing. On January 10, 2020, the Fifth anti-money Laundering Directive (5AMLD), which was adopted in the EU in may 2018, comes into force. The Directive contains requirements for mandatory verification of all clients of cryptocurrency platforms in accordance with the KYC and AML standards, according to which all users who make transactions with cryptocurrencies must pass verification.
Buy/use Bitcoin/Monero/Dash/Zcash/Grin/Beam and be anonymous online.

Before submitting any personal data you must gather some information first about the application if it is safe. Actually almost exchange or application they require their users to provide kyc. I’ve tried this swissborg and check their apps but I did not submit kyc, it just I’m not comfortable providing my info.

Check their compliant first and their terms of service if the people running the project are transparent and they are government regulated if they are then they are bound by a law you can trust and proceed doing KYC but if something here is missing then have second thought if you still want to do KYC here.

i'm not really sure about the company but one thing i'm sure about. it's that you don't give you personal information online even if it is regulated for me it's really risky to give your personal information to internet or online better stay away from it if you have doubts.

It is your personal responsibility to know more about, besides requesting your personal details is only trying to know and authenticate the real owner before you can be allowed to use their app. It is just like any other app though most of them don't required personal details.

If you do hate up KYC then simply skip it and everybody does have the same feeling when it comes to personal information verification.Im not that ware about the app you've been talkin.

I did make some search up about SwissBorg  which there are several threads that do talk about it here on this forum.
https://bitcointalk.org/index.php?topic=3079685.0

and also in reddit: https://www.reddit.com/r/swissborg/comments/avh9oc/if_you_have_invested_to_swissborg_ico_you_must/

This might talk about ICO times but basing on that behavior i wouldnt trust up this one.

regulated means controlled/centralized , if this isnt regulated they wont ask personal infos  . i heard this name before and its one of those talk about projects but if im part of it i will still think twice if im going to give my personal details or not because they are only new on this space and they can run away anytime.

@op i didnt see you over react but what you feel is verry common now , now that almost all projects as the same thing but it looks like you are really worried alot. that was enough signal to not proceed on this one .

I don't know much about this platform, but before indulging in such you need to research on how strong and trusted the platform is, because personal information is something that means a whole lot. Also, the reason most platforms asks for private details is because of their services and their way of being compliant to law enforcement, although they can still use it for their own gain, hence reason why decentralization is very important.
Nevertheless, considering how important personal information is, I would suggest you check if there are other decentralized platforms offering the same services. Everyone gets that feeling, so you are not alone.

This company was legit and i have been doing KYC verification to use CHSB's service. I don't encounter any problem with it. I have been doing the same when i wanna try to use crypto.com service too and everything went smooth. There are also so many people who did it before.