KYC Safe or Threat

[aurorabitcoin.96]

Know your customer known with the acronyms (KYC) is the essential regulatory requirements for the survival of crypto-currency in the digital world, project owners scrutinize investors for authentication using this innovation, Talking about the safety of KYC, this should be a huge challenge for the offeror of tokens or coins.~

The problem is "There is none 100% in this world", KYC made to fight AML, but in other case I hate it because broke the essence of crypto
I dont what other people do with my Real Identity and yeah, This Era We dont trust each other.
Say NO KYC because it can risk our life, although you have Best Security on it, someday it will be leaked and your bad life started from here.

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[weeklyeth]

KYC has both advantages and little disadvantages.

As there are lot of scams that are being faced by many traders, since it is hard to traced the person's identity. In one case recently, a person was blackmailed and he was forced to transfer his bitcoins that were lot of worth to another person's account. Since, the victim doesnt have his KYC atatched to his wallet, the police cannot legally confirm if the original bitcoin wallet was belonged to the victim, based on the identity process.

On the other hand, there are certain risks such as from hackers, if our details go to them, that will be an advantage for them to get more details from us without our knowledge.

[nikodavv]

In my opinion KYC is necessary part of crowdsale, because it permit disqualify most of fake investors.
The main problem of KYC is safety of personal data. As for me, i'm not sure that my data is securely stored and protected from hacking.

[Jpja]

I think that KYC is a serious threat to personal security. Your data can simply be sold to any persons - and they can find out that you are investing in cryptocurrencies, where you live, etc.

[TurboRyzen]

I think that KYC is a serious threat to personal security. Your data can simply be sold to any persons - and they can find out that you are investing in cryptocurrencies, where you live, etc.

It could be a good thing in helping out figuring out what's a good ICO and what isn't. Obviously someone looking to scam is less likely to go the KYC route, they just want your money. But it it's a trusted company, one can at least trust that they are not scammers.

[btcyoda]

I think that KYC is a serious threat to personal security. Your data can simply be sold to any persons - and they can find out that you are investing in cryptocurrencies, where you live, etc.

Yes, i can agree with your opinion so please don't send you KYC to that companies and if you don't believe them better don't participate in bounties and ICO also. No one is forcing you to upload the documents in the ICO or bounties, it is completely based on your interest.