Is KYC benefit to crypto people or not

[haidil]

KYC can be a solution for crypto abuse. You probably know lots of ways to commit fraud on the internet, including for crypto currencies. Not to mention other criminal acts such as money laundering. I think there is no problem if we have to do KYC.it's better to prevent it than something undesirable will happen later.

It is true that Kyc can be a solution to crypto abuse, but it can also be utilized as a crime, for that we must be careful in web registration, because our identity could be used for crime.

[desticy]

To my opinion people complain to KYC for no reason. Yes, they will lose a part of their privacy but on the other hand they benefit much more with protection.
Many are afraid that their personal data might be abused but serious companies wouldn't risk that much to endanger confidental private data. Of course, some data breaches are always possible but we are exposed to such risk every time we go online and use our data.
KYC helps with fraud and illegal activities so in general it's good for crypto community.

Perhaps you would be right if the personal data of users were not sold on the darknet.  
After all, all this data came from somewhere, more than once even legitimate projects were noticed in the e-mail information about their customers.  
Personally, I do not mind sending my personal data to an honest project, but where is the guarantee that they will be safe.
In addition, we are in the cryptocurrency market, the values ​​of anonymity and security reign here. I understand that not only cryptocurrency projects merge information, more often banks do it, but nevertheless this remains a problem.

[AicecreaME]

KYC can be a solution for crypto abuse. You probably know lots of ways to commit fraud on the internet, including for crypto currencies. Not to mention other criminal acts such as money laundering. I think there is no problem if we have to do KYC.it's better to prevent it than something undesirable will happen later.

It is true that Kyc can be a solution to crypto abuse, but it can also be utilized as a crime, for that we must be careful in web registration, because our identity could be used for crime.

It is our responsibility to ourselves to take care of belongings to not be a victim of fraudster and scammers online, providing such information about you will not change someone's mind if he really want to do bad things using cryptocurrency, on the other hand, you are just putting yourself at risk. Trusting too much will kill you (maybe not literally) but you'll know it soon enough by getting comfortable on submitting KYC requirements to achieve something you think is worth it.

[ReiMomo]

KYC can be a solution for crypto abuse. You probably know lots of ways to commit fraud on the internet, including for crypto currencies. Not to mention other criminal acts such as money laundering. I think there is no problem if we have to do KYC.it's better to prevent it than something undesirable will happen later.

It is true that Kyc can be a solution to crypto abuse, but it can also be utilized as a crime, for that we must be careful in web registration, because our identity could be used for crime.

It is our responsibility to ourselves to take care of belongings to not be a victim of fraudster and scammers online, providing such information about you will not change someone's mind if he really want to do bad things using cryptocurrency, on the other hand, you are just putting yourself at risk. Trusting too much will kill you (maybe not literally) but you'll know it soon enough by getting comfortable on submitting KYC requirements to achieve something you think is worth it.

Choose only those high potential of not being fraud and scam when you are submitting personal details. We know how important KYC but maybe as a customer, we also might get abuse from them for the possible reasons for selling our identity. I think there's no need KYC because here in bitcoin or crypto, in general, there's no need for us to reveal ourselves or that KYC thing. As long as you create an account even if it is not your real identity you can also create account here as long as you invest and earn. That KYC process is only good for banks process in creating accounts.

[wxxyrqa]

While in most countries the cryptocurrency is not recognized as a digital asset, there is no reason to require the provision of passport data to everyone involved in this activity.  And providing fraudulent courses by users, too, will not save you from fraud.  As always, cryptocurrency users are the first to suffer, who are faced with a condition from scammers to provide passport data.  The only opportunity to provide KYC is when cryptocurrencies are converted into fiat currencies.

[yoseph]

Most people have been using crypto just because of its anonymous naturelike others are using it because it's profitable when the value rises, KYC wouldn't matter to those who's motive is purely about making profits whiles to those who's main reason is anonymity it's going to be problematic for them.

[Xxmodded]

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.


Now KYC is trend in crypto market.....

Kyc not needed for using crypto currencies but you may need them for buying crypto currencies a lot which I think indeed to stop people from money launder their black money apart from this no other advantages we can get but lot of disadvantages by having KYC like our details are in hands of someone which can be used for anything if they want.

By having KYC our document details data are in hand of exchange website or ICO project, what they do at the future with our document we don't know, will use for bad thing or not. Investing money in bitcoin not needed KYC if we buy with exchange market have limited withdrawal but we need KYC when selling bitcoin cash out with money, you can withdraw without KYC your data by convert your bitcoin with other digital currencies like PayPal or you can use Perfect Money for cashing out your bitcoin.

[jamesndungu1]

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.


Now KYC is trend in crypto market.....

For any market or system to be safe, it is important for a customer to go through intense and thorough verification to eliminate any cases of fraud. In the crypto world, one of the ways to ensure identity verification is Know Your Customer which is a great way to ensure there are no cases of any illicit activity. KYC makes the crypto space more friendly to use and instills some level of trust between buyers and sellers. It is needed if the ultimate goal is to ensure there is mass adoption of cryptocurrencies.

[Edraket31]

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.


Now KYC is trend in crypto market.....

For any market or system to be safe, it is important for a customer to go through intense and thorough verification to eliminate any cases of fraud. In the crypto world, one of the ways to ensure identity verification is Know Your Customer which is a great way to ensure there are no cases of any illicit activity. KYC makes the crypto space more friendly to use and instills some level of trust between buyers and sellers. It is needed if the ultimate goal is to ensure there is mass adoption of cryptocurrencies.

Yes, if it is for exchange regulations and security then it is fine, but, if it is for airdrop or bounty, I don't think it is worth it, but if bounty required and you think that the bounty you joined is a good project and that they are just requiring KYC because there are lots of cheaters, then you can do KYC if you want.

If we really want crypto to become legalize, then be prepared for KYC, as it will be required by our government.

[Silberman]

after all lately, identity trading is everywhere and involves crypto in that business. please be more careful if you need verification of kyc, especially bounty & airdrop.

I don't see that complying kycs when joining airdrops and bounty camapaign leads you to danger, the risk was present I know but I haven't heard cased of leak personal informations so far so I think it still okay. The only thing which bothers me is the fact that is it even necessary? What I mean is it really worthy to give info like that to a not so important thing? For me it's not.

The danger of your personal information being leaked out is real, just because you have not seen it it doesn't mean that it doesn't happen, most of the people that are leaking that information are doing it on the darknet, I have never been there but it's obvious that if you want to sell that kind of information you have to do it there in order to avoid being caught by the authorities that are looking for people like that, as you can see the danger is real and you should never give away your information online to people you do not know.

[craZyLovE0916]

Kyca is a benefit in the long-term because we need regulation so that governments do not have to worry about cryptocurrency only being used for illegal activities.

[DiamondCardz]

KYC benefit for crypto people with many investor use bigger amount with bitcoin and altcoin investing, when you trade at Binance you have push your limited withdrawal by KYC account, without KYC you only have 1 bitcoin for daily withdrawal, after KYC you can withdraw 100 BTC every day and you have big chance to get profit after submit KYC.

That's such a weird way of looking at it. You've phrased it as if the fact there are KYC regulations allow you to withdraw more Bitcoin from exchanges, almost as if it wouldn't be possible to withdraw more than 1 BTC if KYC didn't exist. But KYC is a restriction, not something that opens the playing field up.

That being said KYC is obviously to our benefit as it's within our interest to have cryptoassets (as HMRC in the UK calls them) and their associated exchanges be completely within the law. I doubt there's any desire to have Mt. Gox v2 but this time due to an exchange being taken down by a government for not complying with laws.

[Bagaji]

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.


Now KYC is trend in crypto market.....

KYC which simply means Know Your Customer is now a requirement for most of the crypto currency business activities in recent time and I believe it both has its advantages and disadvantages. Some of the advantage includes but not limited to: (1) It is a requirement for trader in an exchange to increase his daily withdrawal (2) It help gambling companies to identify those leaving in a country that are restricted by law to participate in the gambling site. And the disadvantages include but not limited to: (1) If one private information get to hand if the people on the other world they can sell it or do something bad with it.

[nasipadang]

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.


Now KYC is trend in crypto market.....

Know your customer (KYC) KYC is used to find out users, especially those who purchase crypto in large amounts. KYC also involves regulations from the exchanger, user security and anonymity not in the negative direction. In doing business in a country, they set several regulations for offline and online businesses, digital currency uses too much anonymous so that KYC regulations are often done. There is no market control only with KYC, benefits or not in my opinion depending on their security to protect users information.

[reality18]

The idea behind KYC is a good one because it is meant for verification purposes. It only turns out to be negative when bad actors on the market decides to gather the data of participants and sell for their personal gains on the dark web. This is why KYC participants must be certain about the authenticity of the project before submitting their personal details.

[Fappanu]

The idea behind KYC is a good one because it is meant for verification purposes. It only turns out to be negative when bad actors on the market decides to gather the data of participants and sell for their personal gains on the dark web. This is why KYC participants must be certain about the authenticity of the project before submitting their personal details.

Yes this is the darkside of using KYC, as it can be used in illegal activities. Therefore, the ICO campaign should also be regulated so that we can determine if this ICO campaign is trustworthy.

And once these two problems have been resolved, the campaigns are likely to get better and we can avoid these scams.

[DevilSlayer]

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.


Now KYC is trend in crypto market.....

Know your customer (KYC) KYC is used to find out users, especially those who purchase crypto in large amounts. KYC also involves regulations from the exchanger, user security and anonymity not in the negative direction. In doing business in a country, they set several regulations for offline and online businesses, digital currency uses too much anonymous so that KYC regulations are often done. There is no market control only with KYC, benefits or not in my opinion depending on their security to protect users information.

KYC is a threat to customers like me. I do not know if my identity is safe because there is chance that my identity will be sold to others. I do not know trust campaigns that need ICOs due to the risks of getting scammed.

[kolonel_x]

The idea behind KYC is a good one because it is meant for verification purposes. It only turns out to be negative when bad actors on the market decides to gather the data of participants and sell for their personal gains on the dark web. This is why KYC participants must be certain about the authenticity of the project before submitting their personal details.

Yes, they should do the work and try do find out if the project or the website that they are submitting are legit. They should also think if they going to get is worth it in exchange of their personal data or information. KYC or personal documents are really sensitive and we should really take care of it so we need to make sure first before risking our lives.

I prefer KYC in exchange which is well known and has been proven safe because our data will be safe if on a large project such as an exchange, but I am not sure whether KYC should participate in ICO very vulnerable to fear of abuse, the gift asking KYC is still hesitant in providing data us to them despite the huge rewards.

[Casdinyard]

KYC wouldn't matter to those who's motive is purely about making profits whiles to those who's main reason is anonymity it's going to be problematic for them.

Of course, it won't matter but because of the rampant selling of kyc documents on darkweb, many of us gets hesitant. According to report, for every 10 to 20 documents it can be bought at $25. Imagine how they can earn big from thousands of documents they hold.

Eventually, the essence of anonymity of crypto currency will be fading and transactions can be traced. Though this couldn't be happening if people didn't exploit cryptos.

[White Christmas]

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.


Now KYC is trend in crypto market.....

KYC doesn't benefit the people in the crypto nor the whole community. Just like what you've said crypto's biggest strength is being anonymous so when we submit kyc or any of our informations then we are not anonymous at all because some people knows who truly us and also we don't need to be known if we are in the crypto because when they knows us then they can control us and also the world of crypto right? It would be better to not send kyc so that all of us become unknown. Unless you guys want to be known and someone can control you.