What do you actaully consider KYC in terms of information that has to be given

[joniboini]

Example: the type of KYC exchange I am comfortable with.
1. KYC with SMS feature.
2. KYC with Authentication feature.
3. KYC with Email feature.
4. KYC with fingerprint feature.

The four KYC features above make me comfortable using certain exchanges, I am safe for these four things.

If you remove KYC from that list of features, you basically want a secure exchange that has multiple layers of protection from account hacking right? I'm pretty sure those features are available regardless of KYC in many exchanges, including the decentralized ones. I'm not sure why the KYC part makes you comfortable if your personal information is stored somewhere and you don't know who accesses it. We've seen many database breaches that result in varying degrees of consequences to the users, such as credit card info leaks.

[CryptopreneurBrainboss]

So, for me the 1st 2 are not a big deal. It's just the last one that *I* think is KYC.

What do the rest of you think? And do you really care so long as there are non KYC options.

-Dave

Previously me providing my email address and phone number when registering on an exchange won't have been an issue and I didn't consider them KYC since that's something I'll do voluntary just to add some level of security to my account. In the past I can always open an emails for that particular sites and get a phone number easily without any trace back to me but now I won't do such and any sites that mandate me to provide my phone number is a no for me, I'm still comfortable with emails as I can create one without delay as usual. In my country, the government mandated we all register our mobile number with our national identity number (NIN) our NIN is also linked to our bank account through BVN- Bank verification number so in summary, everything is now connected.

Both the NIN and BVN has our home addresses so technically you just providing your phone number, the government and those exchange especially the local ones can easily get other private information relating to you and some micro finance banks also make use of your phone number as your banks accounts. Which means they can verify your name and identity with your phone number. For over 5 years now I haven't verified any centralized service and I try to avoid using them entirely. I only use those that I verified previously when things weren't this strict but the information aren't that accurate.

[doomloop]

I think KYC should be implemented in every crypto exchange, I feel comfortable and calm using this type of exchange that has strict KYC features, it makes me a little relieved and without worry, Even though there were several exchanges that were hacked and went bankrupt, I think that's a different problem and understanding, but personally KYC has a sense of comfort for me personally.

Example: the type of KYC exchange I am comfortable with.
1. KYC with SMS feature.
2. KYC with Authentication feature.
3. KYC with Email feature.
4. KYC with fingerprint feature.

The four KYC features above make me comfortable using certain exchanges, I am safe for these four things.

The four features that you mentioned don't basically fall under the KYC category. KYC stands for Know Your Customer, and I don't really think that any of these things can make a platform know you at all. KYC is when you are asked to provide personal information and documents that prove that you are the actual owner of the account.

You can always use a number that isn't registered under your name, you can create an email with a fake name and use that for verification. Authentication and fingerprint are only for your security and not a part of KYC process.