Let's Learn How to do KYC safely!

[miyaka26]

some ICO KYC procedures require Full scanned ID without any blur or tampered parts then another picture of yourself holding your scanned ID with a required colored background they are so demanding you are not going to pass the requirement if you did that suggestion worst part if that is an airdrop campaign giving out a few bucks? Is identity worth risking? nope, be careful of sending personal info.

[richan]

The safest way is to not to send your banking details as proof of address , but you can use a gas payment bill or electricity bill. It is safer than revealing your account details through your bank statement.

[FalcoonRed]

to apply for all data kyc must be complete and detail should not have a picture that is less clear, if the data is correct then our kyc must pass. a lot of kyc fail because the picture is less clear.

[iv4n]

It's good that someone made a tutorial how to do KYC, I also noticed how much confusion it makes among new people who never done it before. It's good, but this thread should be updated and nicely arranged, for new people to see I'm first post what kyc is, how to do it, and what kind of problems people have.
KYC is becoming normal thing in crypto, especially with new services and government regulations. For people who lice under the grid there will always be escape with some coins, but who wish to participate in new projects must do kyc, most of the new projects asking for that.with

[dunfida]

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.

Very well said. Only knowing up a persons full name can really already put you on risk to unmasked you and might used on other impersonation.Suggestions posted on OP arent bad after all but same as other people mentioned above most project or Team do ask KYC do need a clear and uncovered picture or image of your ID which means hiding something will still lead you failing up such procedure.

[stompix]

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.

Of course, because you can't cover that data. It's common sense.
The article you point out clearly specifies the name:

For example, 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.

Following the logic that it only asks for the full name, you could send them an ID with a photo, right???

The documentation-based safe harbour procedures involve:
an original or certified copy of a primary photographic identification document, or both:

You know what original means? It means something that hasn't been tampered with.

[Linhkej]

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.

  But in some ICO projects, they do not accept such type of KYC. They need a full image because they are afraid we use photoshop software and the excuse for us to provide full information.
But in return, you'll get a fair amount of money from the campaign. We can do nothing but accept the rule.

[bedulook]

I don't think hiding those verifiable numbers  will be accepted by companies or project demanding kyc. These numbers on it is the one to be use to trace if the bearer of the ID is truly the person he claim to be.

[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.

In the main dignities, crypto currency, always indicated confidentiality. To find the target bandits enough: name, surname, nationality and date of birth. With the help of these data, you can easily find any person.
Passing their personal data, no responsibility for security is not.

[Anandhi]

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 ?

If people start to ignore every projects that require us to do kyc, soon or later they will be gone and won't hurt us as crypto lovers. Anonyminty is everything and I don't believe that our data will be safe with them.

[ranman09]

I will try to study KYC and update this thread. Thank you for your concerns.

[Bagani]

We cant less the risk of kyc, no edit must be done. For me just do kyc for a ICO which 100% you do believe real and scam. Or can be avoid bounty that has a kyc program.  Yes, there is a risk behind that kyc and its hard to determine which are the best ICO and no possibility of using our identity. Dont easily fall in a bounty campaign, use the internet, gathered some data and decide if you want to do kyc with them