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Author Topic: I sent passport id photo...  (Read 258 times)
1Referee
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October 08, 2019, 12:17:31 PM
 #21

I also have submitted some of my ID's and passport ID photo in the projects that i have participated with because of KYC, which i assume that they will not use my identity for illegal,

Even if the project or exchange you are sending your personal information to doesn't have any ill intentions, it doesn't mean that their way of storing your information is secure. In other words, there is always a risk of having their servers hacked, from where the hackers then end up selling your information to whomever it is that pays for it.

I am verified at Bitstamp and a few other services with a proven trackrecord, but I'm still somewhat uncomfortable today. Greed got the better of me back when I registered some years ago. If there was a possibility to undo it, I would, hence the reason I am no longer sending ANY crypto related business my ID and whatnot.

I can't roll back what I did in the past, but I can prevent further 'damage' today by not handing out my information anymore.
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October 08, 2019, 12:21:30 PM
 #22

You've already submitted a photo of your passport hence they already have your personal information anyway. Not sure how "changing" passports would help.

Anyway, submitting KYC information isn't necessarily 100% bad. Sometimes, it's really just necessary for you to submit KYC information to be able to use a certain service. Just make sure that you don't randomly submit your KYC information on every website that asks for it,and  make sure that the service your using is actually legitimate(do you due diligence) and is not some shady company from the Bahamas or something.

Most of the times, exchanges or projects ask for KYC such as passport or driving license just to make the people think that their project really works fine. It's not necessarily mean that they will use it for negative plans to users, but if so,  it is very dangerous to your personal info. In short, you should always be careful about your personal information, do not share it just in exchange of a little money, but to verify first the reliability of the service before you proceed.
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