Let's Learn How to do KYC safely!

[ranman09]

Will be updated soon!

KYC or Know Your Customer procedure is now a requirement on most ICOs. It is used to check customers or investors and also for them to comply with AML or Anti-Money Laundering Laws.

Most of us don't want to do KYC for reasons that it might leak or endanger our privacy. But I saw procedures that may make our data and personal documents still safe.

What I want for this post is to actually build a list of what are positive with KYC on the customers or investors view/side or what they can do to protect themselves. Let me add one;

1. You can HIDE your identity numbers in the images of the Documents you will send. You can only show;
   a. First Name
   b. Last Name
   c. Address
   d. Nationality
These are the only data needed. This will somehow protect your personal referencing data and protect against some unwanted legal usage.


Help me build this list guys! As we all know we will need to adopt with this kinds of regulation. We all want Bitcoin to succeed and for that, I believe it needs to be legal.

[salita23]

I'm new here and I'm still in the learning stage. KYC is new and I'm glad to know that there are some people here that giving idea and knowledge about this bitcoin. In this case I can enhance my idea fast and properly on this forum.

[retampan]

Most of the KYC procedures need full-image of your documents while covering or hiding some part of the documents can might failing the KYC.

[ramzifcb47]

You should never send your personal documents to untrusted individuales, i mean it's crypto we all got to crypto because it protects our privacy, so why should we give it out  just to have some worthless tokens ?

[digaran2]

Most of the KYC procedures need full-image of your documents while covering or hiding some part of the documents can might failing the KYC.

yes, many kyc need full_image, how solve the problem?
i think u must select the trust  ico and do not part in untrusted projects.

[Timere]

KYC is the opponent of all crypto currency. Thus, the Crypto-currency is once again wanted to take control. And control is the enemy of everything as we see in this world!

[Kakmakr]

Your first name and last name is already enough for most hackers to target you. If these people hack these centralized services and they get their hands on this information, then they can track you and steal your identity or they know you are a Crypto currency holder. They follow the money and these KYC/AML infringe on your private identity and your private financial data.

Let's be very cautious on the indirect attack on our privacy and the unmasking of Crypto currency users.

[tegarp90]

KYC or Know Your Customer procedure is now a requirement on most ICOs. It is used to check customers or investors and also for them to comply with AML or Anti-Money Laundering Laws.

Most of us don't want to do KYC for reasons that it might leak or endanger our privacy. But I saw procedures that may make our data and personal documents still safe.

What I want for this post is to actually build a list of what are positive with KYC on the customers or investors view/side or what they can do to protect themselves. Let me add one;

1. You can HIDE your identity numbers in the images of the Documents you will send. You can only show;
   a. First Name
   b. Last Name
   c. Address
   d. Nationality
These are the only data needed. This will somehow protect your personal referencing data and protect against some unwanted legal usage.


Help me build this list guys! As we all know we will need to adopt with this kinds of regulation. We all want Bitcoin to succeed and for that, I believe it needs to be legal.

I don't know if we can hide our ID numbers and our photo if filling a KYC.
I've ever submitted a KYC for one of an ICO, buat my ID (driver license) on the photo area is blurred because it was ever damaged by water.
But they reject my KYC, they said it's a scam ID.

[Mr.Jovetic]

It is useful cus KYC is required anywhere and we should know how to use it properly

[kucritt]

is this true that KYC only need the first name, last name, nationality, and address? if yws i think we can hide other privacy as you said like the number of our identity, oh is photo is important too for KYC? i dont know about KYC at all because every time i do KYC i only scan my identity card only and send t them

[stompix]

Most of us don't want to do KYC for reasons that it might leak or endanger our privacy. But I saw procedures that may make our data and personal documents still safe.

~

Everything you say below that, about hiding numbers on your scanned documents is wrong.

If there is an ICO that says they follow KYC requirements and they do accept your card with blurred info, then run away as that is not legal and they have no idea about what real KYC is, they just do that to fake trust.

No serious service in this world is going to accept a scanned copy that was tampered with but cutting parts from it.
None!!!!!

Besides, in less than a few years in most of the EU, scanned documents alone will no longer be enough for KYC/AML requirements as you will need a legalized copy from a notary. 

[ranman09]

No serious service in this world is going to accept a scanned copy that was tampered with but cutting parts from it.
None!!!!!

I really can't find any supporting blog or documents for the number 1 in the list. I have seen in some (about 30%) of the ICOs I study that they REQUIRE hiding of identifying number in the ID before submission. So I guess this is a real thing?


I found this just now, in a website here http://www.austrac.gov.au/part-b-amlctf-program-customer-due-diligence-procedures

"a reporting entity could verify the customer’s name by referring to their driver’s licence that shows the customer’s first name, middle initial, and family name. "

But it says nothing about the covering of some data.

[Dukjila]

KYC or Know Your Customer procedure is now a requirement on most ICOs. It is used to check customers or investors and also for them to comply with AML or Anti-Money Laundering Laws.

Most of us don't want to do KYC for reasons that it might leak or endanger our privacy. But I saw procedures that may make our data and personal documents still safe.

What I want for this post is to actually build a list of what are positive with KYC on the customers or investors view/side or what they can do to protect themselves. Let me add one;

1. You can HIDE your identity numbers in the images of the Documents you will send. You can only show;
   a. First Name
   b. Last Name
   c. Address
   d. Nationality
These are the only data needed. This will somehow protect your personal referencing data and protect against some unwanted legal usage.


Help me build this list guys! As we all know we will need to adopt with this kinds of regulation. We all want Bitcoin to succeed and for that, I believe it needs to be legal.

And what about the bill: "the dignity of the crypto currency - confidentiality"?
If someone wants to distribute their GDPR with KYC it is his desire. Then these personal data can be transferred to anyone, including robbers.
There must be one authorized representative (the company with a guarantee of reliability), which can own information and confirm, if necessary, other companies.

[rutherford]

I think it is a good idea though it might not worked. Because the idea of personal data through KYC is to identify the participants. And if there is a slight that is missing, the process of identifying might be unsuccessful.

[pavelkor]

Kyc is necessary for many projects now, what is the general point of this? to avoid the multi accounts? or what?
i dont see any problem with it, but i hope they wont lose the data base

[Koro-Sensei]

You should never send your personal documents to untrusted individuales, i mean it's crypto we all got to crypto because it protects our privacy, so why should we give it out  just to have some worthless tokens ?

You've got a point but it doesn't apply to anyone i guess it's good for anybody who wants to risk it even as selling their most important information about their lives it's upto them not ours so giving harsh opinions are out of the line take note not all tokens are trash some have greatly produced large sum of money by spending or investing through it also it's not worthless if you put a great amount of money in it and watch your target move. Of course all of this will work somehow if the site is totally legit and if not you're doomed from the very beginning.

[LbtalkL]

Your proposal is good but I dont think some ICO, etc. will accept that or your kyc will be denied, I'm hoping theres a list of fully verified ico by SEC to minimize the risk of losing our data but still many hackers out there can stole our data its a matter of time if they found out a hole.

[cellflash]

I have encountered that in some airdrops.. Filling up the KYC.. But we have our choice to choose if we want it.. We refuse it of course.. But most of the airdrops that required KYC are those who offer a good prize..

[TooDumbForBitcoin]

Most often requirements include a rule about no editing for uploaded  image. So this can't be implemented in most cases

[bigmelons25]

How to do KYC safely- You don't do it, if everyone stops doing KYC these people will stop asking for it.  don't trust random strangers over the internet with your information.