Are You Afraid of KYC?

[bitmilano]

Everything depends on where you live... If you don't pay tax like me, you have nothing to fear from KYC regulations.

the BITSTAMP is asking KYC
don't know how to deal with

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[Ozero]

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

KYC should be checked only by authorities and their employees, who themselves cannot use the collected confidential information for illegal purposes. If such a test is carried out by the ICO teams, which practically do not pass any checks themselves and are 80% masters of mine, then this is generally absurd. Here either the ICO teams should be deprived of this right, or this process should be completely. controlled by government agencies.

[Rustamm]

I am not afraid of the KYC verification itself, although the procedure itself is a bit humiliating. I’m afraid of the consequences of sending my confidential information and copies of documents to unknown persons and I’m not sure that this information will not be used by anyone for an illegal purpose. Moreover, the ICO team itself, as a rule, does not pass any checks and does not bear any responsibility for the safety of this information. In addition, a very large percentage of frauds among ICO teams should be taken into account; here we generally place our confidential information in the hands of criminals. It would be foolish to hope that they will not take advantage of this.

[maler61]

V tomto ohledu nevidím žádný problém, ale myslím si, že úplně stačí mít každý účet zabezpečený 2FA kodem.

[carlfebz2]

Showing an honesty doesn't need to be afraid of, because if we're true to the people whom we're taking part of the project then it's not a serious issue. Besides, if you're not a criminal there's no need for us to be afraid of showing our legitimate identifications towards providing proof of identity. So be confident enough on answering serious questions for us, and in fact money transfers of fiat currency already implemented KYC so as crypto currency did lately.

You have a point and comparing fiat transactions that do require KYC anytime then its not surprising yet we are abiding governments laws.Its easy to say on just to be relax when sending out documentations online specially if you do know that the team do ask doesnt really have true identity and you aren't sure on where those informations gathered would be stored up unlike on traditional institutions that do ask documents you are somehow assured that they are being kept but here on online world theres always a possibility of identity theft.

[gayletot]

KYC is good because it is secured that our tokens are secured to just around the corner, and it is the need of ico's projects so they do not mislead other participants. in their ico. and nothing bad to fill up KYC and it's very easy.

[yndye]

KYC is good because it is secured that our tokens are secured to just around the corner, and it is the need of ico's projects so they do not mislead other participants. in their ico. and nothing bad to fill up KYC and it's very easy.

It may be easy to comply with the KYC but still, there is always a risk involved with it. You are giving your private information to the team that you don't even know of and even if the team may seem legit, they may just appear that way but the truth is that they would sell your information in the dark web and your information would be worth $20 perhaps and if you multiply it to thousands of people who would comply with KYC then they were able to make money from it.

[bryant.coleman]

Anyone should be afraid, if he is providing the scanned copy of his passport or national ID to relatively unknown people. A lot of fraud and identity theft is going on nowadays and it is not something which I can recommend.

[Thyristor]

Anyone should be afraid, if he is providing the scanned copy of his passport or national ID to relatively unknown people. A lot of fraud and identity theft is going on nowadays and it is not something which I can recommend.

@bryant.coleman yes bro and i am just worried about this something like that. I provide my scanned copy "Government National Identity Card"  in several ico projects from the last 2 years. I heard well a lot of fraud selling our information in others people who actually using for illegal work.

[dianepot]

Im a little bit worried since there are lot of ICO's who asks kyc. I've been sharing my identity in all these projects. The more risky here is that if that company sells your/our identities to those bad persons. We do not know maybe this wil happen, maybe not know but im hoping this wont really happen or we'll be all dead.  

But, at the same time this is for the better to see if who really is authentic and who's not.

[SaltedCrypto]

Depends, if I submit KYC to a shady exchange or ICO I always afraid. But to submit KYC to well known exchange like coinbase I wouldn't be afraid because I am sure that they will protect my data.

But if someday I become a whale I think I will be scared of KYC  

[shekt4]

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

Lol....aren't afraid of KYC ..to me personally; only criminals wouldn't want to subject themselves to KYC procedures!!
And the issue of saying that you don't want to do kyc because your personal data can be stolen isn't a good reason! Proposing and suggesting ways in which ICOs platforms can safeguard kyc data is the way to go!!!...kyc is a great way to go if really we are really about massive adoption for cryptocurrencies!...there are so many institutions and individuals who have invested in ICOs with illicit proceeds- which is really bad!! Kyc is the way to go!!!

[ekomic]

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

No sir!! Kyc is a great way for ICOs projects to monitor funds!!... and am totally in support of it

[glowing10]

Anyone should be afraid, if he is providing the scanned copy of his passport or national ID to relatively unknown people. A lot of fraud and identity theft is going on nowadays and it is not something which I can recommend.

It is scary and due to which many [people this days do not join ICO where they require the KYC to be done. As no one would like to provide the KYC details to unknown people unless it is well know or being endorsed by some familiar known name or manager on the forum. If you personally know such people then you can think of providing them the details.

[fallz]

I think knowing the site before submitting the KYC is important, since they are using our legal data...
But after all I've been joining some of KYC, and hope it's alright.

[TBboys]

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

Lol....aren't afraid of KYC ..to me personally; only criminals wouldn't want to subject themselves to KYC procedures!!
And the issue of saying that you don't want to do kyc because your personal data can be stolen isn't a good reason! Proposing and suggesting ways in which ICOs platforms can safeguard kyc data is the way to go!!!...kyc is a great way to go if really we are really about massive adoption for cryptocurrencies!...there are so many institutions and individuals who have invested in ICOs with illicit proceeds- which is really bad!! Kyc is the way to go!!!

Criminals are certainly not willing to accept KYC, but have you ever thought that if your KYC falls into the hands of criminals, would you be afraid?
We are against KYC not because we are criminals, but because we are worried that our KYC is not properly kept and that it may be used by criminals.

[Alex_Zi]

I'm not afraid KYC. For the one side, the market need regulation, but i prefer crypto looks like anonymous system, free of control from government, banks etc.

[OriginTrain]

The whole cryptocurrency movement has been cuckolded by KYC, particularly ICOs. A decentralized currency outside of centralized control should never require KYC, end of story, period. The current "leaders" in ICO launches and this industry generally don't give a shit about what blockchain is all about, or why it was created. These con artists could not launch an IPO the proper way due to their lack of business experience, so they launch their ICOs hijacking the decentralization idea, creating a parody out of it with their con-tokens, and causing huge financial losses for investors at the same time.

What ever happened to DAOs and tokens that run these DAOs? Since when did cryptocurrency cuck itself so bad that it's now centralized and bowing and curtailing to the very people that it was originally created to avoid?

[Bizard]

Yes, I don’t really like all of this, especially in the bounty of the program, of course it’s not nice to give information about yourself, especially since there are a lot of breeders.

[bchain22]

I am a little bit skeptical. I don't want to give all my personal details to everyone. There are exchanges that are scams, who would want to provide them with all their personal data?