Are You Afraid of KYC?

[Ozero]

I pass the KYC check only when there is no other way out, that is, when the ICO team only at the end of the ICO declares such a check, although it was previously stated that it will not be. There are quite a few such cases of simple deception. In all other cases, I join the ICO signature campaign only when the team or manager confirms that they will not have KYC checks. I do this fundamentally, because I believe that checking KYC against bounty hunters is not legal. It must pass only investors.
I really fear KYC checks, because I don’t live at my registration address and in this case I can’t confirm my residence at the place of registration with appropriate certificates from a bank or municipal authorities, which is sometimes required in this case.

[1714186587]

1714186587

[Chikitita2004]

When you decide to involve into crypto trading, you are ready the risk of it.
So when you decide to involve into project ,are you willing to take the risk by giving your KYC ?

For me, If I trust the project, I won't doubt to give it !

Another problem here is even in bounty campaigns participants are being asked for KYC and they will not be able to get paid if they don't do the KYC process. This is ridiculous, because if you think of how much bounty participants are getting in every campaign compared to investors, they are just getting peanuts for their effort and yet they still have to risk their identities.

[CryptoBry]

I am not afraid of KYC but I am concerned about the security of user information, it can be used illegally for many different purposes, adversely affecting users.

Things on KYC boils down to how trustworthy and credible are the people receiving our data. Considering that we are dealing with new projects and with people whom we don't know in the real world, I am not wondering why many are sounding the bell of alarm. Had I been saying this before that there should be a platform to deal with KYC should be acceptable by all parties...so that we can easily pinpoint who is responsible for keeping the data and we can sue in case of security breach. In reality, when projects and sites imposed KYC it is hard to complain we have no choice but to follow otherwise we can be excluded.

[jhongzjhong]

I am not afraid of KYC but I am concerned about the security of user information, it can be used illegally for many different purposes, adversely affecting users.

Things on KYC boils down to how trustworthy and credible are the people receiving our data. Considering that we are dealing with new projects and with people whom we don't know in the real world, I am not wondering why many are sounding the bell of alarm. Had I been saying this before that there should be a platform to deal with KYC should be acceptable by all parties...so that we can easily pinpoint who is responsible for keeping the data and we can sue in case of security breach. In reality, when projects and sites imposed KYC it is hard to complain we have no choice but to follow otherwise we can be excluded.

Definitely, you are right. We really don't have any choice if they were implementing KYC, or why not avoid those projects that impose KYC to their clients if you don't like to pass your personal data right? But for me, I don't hesitate to undergo KYC once I have been checked very well if that company or project launch is legit and just to be trusted.

[fortunecrypto]

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?

If they show that they are compliant and regulated why not, I prefer doing KYC to exchange that host an IEO than ICO where the people behind those projects are dubious, there are so many debates about KYC but people should be aware of what they are getting into and should know the repercussions of doing bounty and KYC to projects that looks dubious.

[Vishnu.Reang]

Another problem here is even in bounty campaigns participants are being asked for KYC and they will not be able to get paid if they don't do the KYC process. This is ridiculous, because if you think of how much bounty participants are getting in every campaign compared to investors, they are just getting peanuts for their effort and yet they still have to risk their identities.

If the bounty manager specifies that requirement in the beginning, then it is fine with me. We can just skip the bounty campaign, or ask someone else to do the KYC for us in return for a small reward. On the other hand, if the requirement is made just before the payout, then I would call it as cheating. And it happens so often here, in order to deny the payments to the campaign participants.

[Ridwan Fauzi]

I am not afraid of KYC but I am concerned about the security of user information, it can be used illegally for many different purposes, adversely affecting users.

That's what you should be afraid of. You won't know if a project that you follow ends in a scam, unless you know that and you definitely avoid it. I just can't understand when there is a project that requires KYC from each participant and then he gets paid with a litle amount of money like $ 5 $ 10 or $ 30 because that is not reasonable. You really sacrifice to your anonymity for small money even though you can get the money with an easy way through trading or other means.

[lepbagong]

I pass the KYC check only when there is no other way out, that is, when the ICO team only at the end of the ICO declares such a check, although it was previously stated that it will not be. There are quite a few such cases of simple deception. In all other cases, I join the ICO signature campaign only when the team or manager confirms that they will not have KYC checks. I do this fundamentally, because I believe that checking KYC against bounty hunters is not legal. It must pass only investors.
I really fear KYC checks, because I don’t live at my registration address and in this case I can’t confirm my residence at the place of registration with appropriate certificates from a bank or municipal authorities, which is sometimes required in this case.

Your obstacle regarding KYC is indeed very understandable to almost anyone who does not want personal data to be known without clearly asking for and using it. especially if your data is not appropriate, it will clearly complicate yourself. Until now I am still trying to avoid KYC before following anything. at this time I still think that KYC still cannot prove that it can maintain confidentiality, besides indeed there will be a credible authority.

[imstillthebest]

I am not afraid of KYC but I am concerned about the security of user information, it can be used illegally for many different purposes, adversely affecting users.

That's what you should be afraid of. You won't know if a project that you follow ends in a scam, unless you know that and you definitely avoid it. I just can't understand when there is a project that requires KYC from each participant and then he gets paid with a litle amount of money like $ 5 $ 10 or $ 30 because that is not reasonable. You really sacrifice to your anonymity for small money even though you can get the money with an easy way through trading or other means.

Trading is not easy  . and there are no easy way to earn .  including bounties and airdrops because their payments are not also sure  . for a poor person like me i wont mind doing a kyc for a few bucks but ill first check if the company is trusted or not  . we all are afraid with kyc because on kyc our details and pictures are involved  . i can imagine bad things that will happen to me if ever criminals will use my kyc for their criminal acts .

[pdutta]

Kyc is a requirement of some countries' government as it is their way of regulating or being in touch with their citizens. I am not afraid of Kyc. Presently, most of the exchanges require Kyc. I have done kyc for trusted exchange only. I don't give my kyc for airdops because most of the airdrops are scam.

[troy.gold]

Out token sale is regulated in Malta and is offering gold products with its token. We are conducting KYC / AML, but only during the purchase process.

Customers cannot complete a transaction until KYC has been passed. Our KYC provider can process your application in under 60 seconds to make the process as painless as possible.

Also, bounty campaigns which earn tokens will not be KYC / AML checked.

To have a look at how it works, check out https://www.troy.gold/

[FatAnt]

Yes, KYC requirements from an exchange can cause us major problems.  Ex:  QuadrigaCX exchange required photo ID, drivers license and bank details to be verified.  Didn't matter that they were the oldest exchange in Canada with the largest user base.  The QCX operators have all their clients KYC data and account balances.  They can only steal the account balances once,  but the KYC data can be resold multiple times.

[ramverma]

hello,
i am from india and in India  bitcoin or cryptography is illegal.
can any one give me idea how to complete kyc for Indian account


 

[Dunlap]

surely, you are proper. We honestly don't have any desire if they were enforcing KYC, or why no longer keep away from the ones tasks that impose KYC to their customers in case you do not like to skip your non-public records right? however for me, I don't hesitate to undergo KYC as soon as i've been checked very well if that corporation or undertaking release is legitimate and simply to be depended on. https://bestswertres.blogspot.com/

[monalia]

Definitely no one will wish to share their KYC information to any site or any kind of services
That too in cryptocurrency field we people never believe all the sites.  There are many companies in internet finding our information and selling some of the data business companies. People never wish to get involved in such problems.

[imstillthebest]

we are not expected to be afraid of KYC though,

what do you mean we ?  no not all courageous about this kyc thingy  .  me myself is scared with kyc because kyc is a more seriuos thing than providing your name and email on the web because kyc requires a personal i.d and a picture of your self  . you wont know if whether they will use this on other sites or will they sell it for an extra money while you are the ones that loose  .

.... in my oiwn country to get your national Identity card is not just as easy.

same here and i think almost all the country in the world does that because processing an id is too crucial as it requires more process  to check if your name has a simillar  .

[Schirer]

I am a little bit scared  to give my information to some ico . If ICO asks for it, I do my research carefully, if the ICO or even exchnage is locate din some 3rd world country, forget it. It is not worth it, the value of my ID is high there and they will leak it or sell it eventually and I wont be able to do anything. If the ICO is from legit country , in worst case , there will be options to sue them according to GDPR.

[DoublerHunter]

I am a little bit scared  to give my information to some ico . If ICO asks for it, I do my research carefully, if the ICO or even exchnage is locate din some 3rd world country, forget it. It is not worth it, the value of my ID is high there and they will leak it or sell it eventually and I wont be able to do anything. If the ICO is from legit country , in worst case , there will be options to sue them according to GDPR.

^ Definitely you aright, our personal details are worth it of us because we don't know that in the future the ICO we'd participated is a scam and took our personal data and most probably they sell it into the dark web which is might use for terrorism interest. Nevertheless, you can simplify avoided on this if you are not joining them and for sure exchange platforms were usually asking these kinds of implementation.

[Tylev]

Of course, I am afraid to provide my confidential information to virtually strangers and who are not government employees and in most cases do not know how to store and how to handle confidential information received. In addition, we know what a high level of fraud is among ICO teams. Therefore, I try not to join the ICO signature campaign, if there is information about the possibility of passing the verification procedure (KYC verification).

[Arkham Knight]

ICOs  hiring 3rd parties to conduct KYC so I don't think there is anything to worry about. Only if the project itself did the KYC is the only situation I will worry about my personal documents. And also guys, the responsibility is in your hands. If you see a red flag about the project and asks for KYC then don't hesitate to refuse and just leave them.