Are You Afraid of KYC?

[milewilda]

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?

Yes I'am afraid of this KYC implementation because you will must give your personal identity , it has disadvantage and advantage though but we can't totally assure though , some are using this to an illegal purposes , it's so risky though , so I don't approve on kyc procedures yes I'm definitely afraid , instead of being decentralized it's now a centralized.

When it is already coming to a point on where weve been asked already documentations then it wont really be considered to be decentralized anymore.We have given our identity to someone which will really compromised informations and if we do like total anonymity then this thing would really be a big no for us but still its your decision if you would risk up your own information for the sake of this kind of investment.

[BTCeminjas]

Yes I'am afraid of this KYC implementation because you will must give your personal identity , it has disadvantage and advantage though but we can't totally assure though , some are using this to an illegal purposes , it's so risky though , so I don't approve on kyc procedures yes I'm definitely afraid , instead of being decentralized it's now a centralized.

For me, there's nothing wrong with the KYC implementation they are only implemented that because to protect the law of some countries that prohibited cryptocurrencies. Of course if one of their members were in the banned country how could they purchase to their project I'm right? Giving information in KYC is not totally revealed your real identity, just like you are joining facebook campaign don't tell me that you facebook account used is not yours.
But still in anonymous identity is pretty good.

[burner2014]

Yes I'am afraid of this KYC implementation because you will must give your personal identity , it has disadvantage and advantage though but we can't totally assure though , some are using this to an illegal purposes , it's so risky though , so I don't approve on kyc procedures yes I'm definitely afraid , instead of being decentralized it's now a centralized.

For me, there's nothing wrong with the KYC implementation they are only implemented that because to protect the law of some countries that prohibited cryptocurrencies. Of course if one of their members were in the banned country how could they purchase to their project I'm right? Giving information in KYC is not totally revealed your real identity, just like you are joining facebook campaign don't tell me that you facebook account used is not yours.
But still in anonymous identity is pretty good.

Yes, that is right, it is just law required that is why there is KYC but if there is no law requiring it then we are not obliged to submit our personal documents, but even if law requiring some people still are afraid of it and are refusing to join a certain bounty campaign, or ICO as they don't want to submit their personal info.

[LegendzX]

Yes because if i will do that I am voluntarily unlocked my privacy to others and it can be a tool of scammers to use my identity in illegal activity.

[cotton ball]

kyc will shift the initial goal of bitcoin about decentralized anonymity, and I'm sure if all countries agree, bitcoin will soon be replaced by a more perfect altcoin with the responsible and accountable CEO setting all things anonymous are very dangerous, the state put aside the history of crypto currency (bitcoin) and later acknowledged the more complex altcoin. I almost disagree with KYC, but there needs to be another rule not to publicly display full identity.

[hwBPKH]

yes and no
yes, what if leak my personal info
no, i am a clean bg

[Salesman4coinZ]

I would not have any problems with know your customer process. But there an issue on every kyc process. Theres always some problem, or somethings dont run well. I had to contact the support to make it right, and thats why im so annoyed about know your customer process. There no initial coin offerings which has smooth kyc process without any problems. And sometimes they ask just to much questions. You got a scan of my passport, what you guys want more?

[Bitze]

basically, I don't have a problem with that.
if it helps to expose scammer and fake users. but for airdrops I find it exaggerated.

at ico it is now standard and there is no way around it 

[QuynhVu2302]

I'm very scared of KYC, I'm very confused why they need KYC. Can we be harmed?

[KrishaBitcoin]

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?

For me, KYC is not a problem as long we are a legit person in which this KYC is required by the law for security reason for both investors and the ICO. So therefore to ensure the safety of our privacy we should also to double check the ICO to see if they are truly a legit too because if the certain ICO is a scam in which it might connected to international syndicates the possibility to steal our identities and use it to illegal activities is very high.

[onebtcforlife]

To integrate KYC procedure on the website for audit is very difficult and it completely depends on their security level they are maintaining. KYC is a different kind of approach in order to prove the company as legit and ability to secure the funds.

[zngit]

As far as I know KYC is not too long when it was started to required to every participants in one particular campaign. This is to secure the people who live in the country that they prohibited to joined. Nevertheless, KYC is not required to all bitcoiners for it is decentralized.

[Alice123]

I'm additionally apprehensive on KYC on the grounds that it can truly be use into messy things, however I can't make a move since I have to top it off as one of a prerequisites in huge trades. Simply be cautious on giving your data on any ICO in light of the fact that the hazard is high there.

[crisanto01]

I'm additionally apprehensive on KYC on the grounds that it can truly be use into messy things, however I can't make a move since I have to top it off as one of a prerequisites in huge trades. Simply be cautious on giving your data on any ICO in light of the fact that the hazard is high there.

I am not afraid of KYC, I am much more afraid of the things just like they are using KYC and my details to scam people, for sure that is all what we are afraid at when they are using our details to some people, so for me, but if I invest something I would be glad to give my details when required.

[warrior333]

I'm not afraid of checking KYC. But we must understand that once we have provided our personal data, we cannot hope for confidentiality. Today, I was called to the phone and offered to attend a conference on the development and use of cryptocurrency that will be held in my city. On question about how where they took my phone they responded that cooperate with many exchanges. Here's a concrete example.

[Tapyaks72]

I'm additionally apprehensive on KYC on the grounds that it can truly be use into messy things, however I can't make a move since I have to top it off as one of a prerequisites in huge trades. Simply be cautious on giving your data on any ICO in light of the fact that the hazard is high there.

I am not afraid of KYC, I am much more afraid of the things just like they are using KYC and my details to scam people, for sure that is all what we are afraid at when they are using our details to some people, so for me, but if I invest something I would be glad to give my details when required.

For  the purpose of registration to inter into their trading site there's no problem, giving my personal data or important documents.because we dealing very important business transactions. But  the big question is how they keep the the data safe and assurance of never be divulged to anybody who  has a motive of using it in criminal activities.

[MCVXYZ]

It may not be as bad as it seems,So this is a fact in the digital realm,Goverments must create more Anti money loundering rules such as KYC or Mandatory reporting rules to protect honest consumers,I just want to say that If they want to use our identificial information only for our well-being and not for their special purposes of course,It will be good and in this case I don't have problems with this...But I think the better approach is Mandatory reporting rule which regulates more ''nourishing'' relationships,by this rules companies are obliged to report transactions that are over $10,000,This regulation as I remember correctly is only in USA.Anyway I mean every liberal approaches/regulations will be good which are created for public safety,Even KYC...

[chaoscoinz]

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?

Agreed, but this is why it is crucial to practice due diligence for every single potential investment. Never go all in on a investment, research everything you can about a company before you invest in one. Read reviews, watch videos, ask about the team members of a project, making sure you check for academic achievements, and what ever else background information you can find. Just because a prospect appears within the threads of this forum, doesn't  necessarily make it a legitimate project.
   There is a lot of scams out there, but remember, an investment is similar to a bet, whether it's horses or stock, it's  still a gamble.

[ololajulo]

It's a risk worth taking if the team is not asking too much. Asking for unnecessary document more than identity, requesting location, bank statement e.t.c doesn't feel safe. Safety of the document matters most in the hands of the team not the apology when it got in wrong hands.

[budz0425]

It's a risk worth taking if the team is not asking too much. Asking for unnecessary document more than identity, requesting location, bank statement e.t.c doesn't feel safe. Safety of the document matters most in the hands of the team not the apology when it got in wrong hands.

We do have different perspectives in KYC and majority of us feel not safe if someone was trying to ask about our information, that is why as much as possible I also don't like something like that as I don't want to give my personal information for security reason.