Oliver Bit
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March 10, 2020, 11:39:56 AM |
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The AML/KYC is the best way to make the world of cryptocurrencies look safe, but many don't deceive us.
However the explanation is perfect!
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jamespoo2
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April 17, 2020, 09:57:04 AM |
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Wanted to ask regarding the same question for website like http://www.bonofe.com any response will be ideal. Thanks
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VintageBazaar
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May 05, 2020, 12:26:25 PM |
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To UPDATE this thread.
After possible using every exchange made since 2013. I can say with certainty that Kraken is now one of the least intrusive and one of the easiest places to Buy and Sell $BTC (and some alts). Cash in bank often with 24hrs.
Certainly avoid the likes of Bitstamp who are really terrible at wanting to know EVERYTHING.
So anyone here looking for a Safe, trusted and easy exchange, Kraken is your best bet.
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Believe in the impossible and make it Possible.
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billykannithi
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May 10, 2020, 02:55:11 AM |
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AML System is not protected our infront KYC leak. Moreover, I see many exchange AML KYC system to check KYC from user, but many people use KYC fake and they still pass KYC.
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BoostNow
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May 25, 2020, 02:00:56 PM |
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Essential or Destructive? Digital banks are capable of tracing fraudulent activities by customers via the use of the Know Your Customer (KYC) verification process and with the integration into crypto exchanges, there is a makeover in the exchange platforms ( https://fintechzoom.com/crypto-exchange-no-kyc/). The activities and transactions of clients on crypto exchanges can likewise be monitored. The crypto market needs this service? or it´s the beginning of Gov Regulation?
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SolarWindMiningCompany
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May 26, 2020, 07:14:17 PM |
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The AML/KYC is the best way to make the world of cryptocurrencies look safe, but many don't deceive us.
However the explanation is perfect!
it's a good explanation but it still defeafs the full purpose of crypto and decentralization if exchanges now have the profike details of its traders which can be easily fed to yeh government. What did satoshi think when he founded biycoin in 2019
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Igniterr
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August 28, 2020, 08:29:34 PM |
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Thank you for the article. KYC can be tough. Of course sometimes it's necessary for security etc etc... but then what is the sense of cryptocurrency? Crypto means underground... That makes me think if there still are services that don't use KYC. I know the exchange Cripto intercambio doesn't use it for example, but I'd want to learn about bigger and more known services
So everyone who is against KYC is simply obliged to start trading on exchanges where there is none of this. The most technologically advanced exchange without KYC is 50x exchange. Just look at my signature ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Thanks for sharing, This looks good; "Your ID, source of funds, or any private information are not required, and FIAT services aren't provided. Hence, your ID copies will never be made available to the public - because we do not have them. The interaction with 50X.com is the same as with the blockchain - the existence of a private key is enough." And Kingstown. A caveat: centralized, still. I wouldn't say then that my interaction, as a user, with the exchange would be the same as with the blockchain, the blockchain isn't custodial ad hoc. RD
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akramkhan0051231
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September 09, 2020, 09:50:04 AM |
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i think KYC/AML is okay .now almost every crypto exchange or wallet is doing kyc. i think which country is allowing to trade crypto they dont need to do it .its must be necessary for those countries they dont permittion to crypto what do you think
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JeromeTash
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September 27, 2020, 03:31:59 AM |
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i think KYC/AML is okay .now almost every crypto exchange or wallet is doing kyc. i think which country is allowing to trade crypto they dont need to do it .its must be necessary for those countries they dont permittion to crypto what do you think
Like anything else, AML/KYC has it's advantages and disadvantages. The most known advantage is that it helps fight suspicious activities like laundering of stolen money and tracking down of criminals. the bad side is that customer's data and documents can easily be leaked and used for other dubious activities. The idea of using KYC in only Countries that do not restrict crypto trading is not possible in the current situation because people use VPNs and proxies so in most cases the platforms just roll out general KYC verification for all their customers.
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nasipadang
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November 02, 2020, 06:28:43 PM |
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It seems that more and more sites are following this procedure on their sites. I think they do not like to do that themselves, but that they are in the minds of laws and regulations. It may scare a lot of customers, but eventually casinos will ask for documents anyway if you win a lot of money. So then you better start with this procedure of the KYC right away.
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█▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄ | . 1xBit.com Super Six | | | | ▄█████████████▄ ████████████▀▀▀ █████████████▄ █████████▌▀████ ██████████ ▀██ ██████████▌ ▀ ████████████▄▄ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ▀██████████████ | ███████████████ █████████████▀ █████▀▀ ███▀ ▄███ ▄ ██▄▄████▌ ▄█ ████████ ████████▌ █████████ ▐█ ██████████ ▐█ ███████▀▀ ▄██ ███▀ ▄▄▄█████ ███ ▄██████████ ███████████████ | ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ███████████▀▀▀█ ██████████ ███████████▄▄▄█ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ | ▄█████ ▄██████ ▄███████ ▄████████ ▄█████████ ▄██████████ ▄███████████ ▄████████████ ▄█████████████ ▄██████████████ ▀▀███████████ ▀▀███████ ▀▀██▀ | ▄▄██▌ ▄▄███████ █████████▀ ▄██▄▄▀▀██▀▀ ▄██████ ▄▄▄ ███████ ▄█▄ ▄ ▀██████ █ ▀█ ▀▀▀ ▄ ▀▄▄█▀ ▄▄█████▄ ▀▀▀ ▀████████ ▀█████▀ ████ ▀▀▀ █████ █████ | ▄ █▄▄ █ ▄ ▀▄██▀▀▀▀▀▀▀▀ ▀ ▄▄█████▄█▄▄ ▄ ▄███▀ ▀▀ ▀▀▄ ▄██▄███▄ ▀▀▀▀▄ ▄▄ ▄████████▄▄▄▄▄█▄▄▄██ ████████████▀▀ █ ▐█ ██████████████▄ ▄▄▀██▄██ ▐██████████████ ▄███ ████▀████████████▄███▀ ▀█▀ ▐█████████████▀ ▐████████████▀ ▀█████▀▀▀ █▀ | . Premier League LaLiga Serie A | . Bundesliga Ligue 1 Primeira Liga | | | | . 6 BTC PRIZE POOL | │ | . TAKE PART | ▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄█ |
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BitcoinAccepted
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November 05, 2020, 02:45:40 PM |
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Thank you so much for this thread, it really helpful knowing the difference between KYC and AML.
They are in principle linked to each other. at the KYC you request documentation, which in turn can consist of an AML. You could see that KYC is the primary process and the AML a secondary or ancillary process. Many users are scared when they read AML, but this seems to be something increasingly and more entrenched by a government. Companies or casinos cannot do much about that. They are guidelines that must be adhered to.
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Imran232
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November 15, 2020, 04:48:52 PM |
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I had a little bit knowledge about kyc but i didn't have any knowledge about AML. After reading your writting now i fully understand about KYC/AML. And how much need this both point in out online crypto journey. Thank you for explain clearly both most important subject.
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johnmurphyy
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January 11, 2021, 05:45:53 AM Last edit: January 11, 2021, 07:01:43 AM by johnmurphyy |
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Well, In simple words KYC refers to a process whereby companies commit to identifying and verify the identity of their clients. Banks use this process, for example, to try to avoid money laundering.
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ak_Merin94
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January 12, 2021, 01:06:39 AM |
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I use simpleswap.io mostly because they don't require mandatory login and KYC. So maybe this info will be helpful to you who do not want to waste time on this extra fuss!
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freigeist
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January 12, 2021, 05:39:24 PM |
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Well, In simple words KYC refers to a process whereby companies commit to identifying and verify the identity of their clients. Banks use this process, for example, to try to avoid money laundering. To be 100% fair the clients or the customers of the company, bank or whatever legal entity should have the ability I mean rights to do same KYC/AML of any person working for the company that is dealing with his/hers data.
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hv_
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January 15, 2021, 07:08:19 AM |
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Well, In simple words KYC refers to a process whereby companies commit to identifying and verify the identity of their clients. Banks use this process, for example, to try to avoid money laundering. To be 100% fair the clients or the customers of the company, bank or whatever legal entity should have the ability I mean rights to do same KYC/AML of any person working for the company that is dealing with his/hers data. ? - You know the company and find out lots about in public KYC and prove source of funds / beneficial ownership helps you to really own things - cause: who finally ensures you 'own' things ? Hint: Law & Gov
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Carpe diem - understand the White Paper and mine honest. Fix real world issues: Check out b-vote.com The simple way is the genius way - Satoshi's Rules: humana veris _
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freigeist
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January 15, 2021, 06:31:16 PM |
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Well, In simple words KYC refers to a process whereby companies commit to identifying and verify the identity of their clients. Banks use this process, for example, to try to avoid money laundering. To be 100% fair the clients or the customers of the company, bank or whatever legal entity should have the ability I mean rights to do same KYC/AML of any person working for the company that is dealing with his/hers data. ? - You know the company and find out lots about in public KYC and prove source of funds / beneficial ownership helps you to really own things - cause: who finally ensures you 'own' things ? Hint: Law & Gov Yeah right! A company is fiticous legal entity in which in a lot of physical people that are working there are "hidden". I know the company but I do not know the people who handle my data. What does it mean if I know a company? Company data is public but my private data should be private and not shared with anyone. Once the data is stolen knowing the company won't help me. Once when they come to your home to extort your bitcoin because you shared your info with a company what you gonna do about that? KYC/AML is bullshit is totally hypocritical. For years drugs and weapons are smuggled around the world and this for years before crypto were invented. How so that for all this years authorities ware unable to stop it applying this KYC/AML policies? They come with that bullshit idea of AML/KYC to fuck us (common citizens) over few hundred bucks that we transact in crypto while billions are laundered using FIAT money by invented fake "companies" using fake bank accounts!
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mijanibal
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January 24, 2021, 10:10:23 PM |
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Any cash deposit or cash withdrawal of more than $10,000 is required to be reported to the Federal government.
Really?! $10k seems too low to warrant reporting.
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Atek33
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February 11, 2021, 03:51:13 AM |
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I can usually talk about KYC here because KYC here means you will have an account on any site or exchange or website. There is a need for your security. You must verify your account in order to make a transaction. You can work with security on different site exchanges
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