Has the purposed of kyc been diverted?

[opeku]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

[pishite]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

Your documents are never safe, as this is a cryptocurrency and any exchanger and project can then sell your data. I personally try to always bypass projects that require my identification, since it is not known who will own my data further.

[Malam90]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

Any document submitted for KYC aren't safe. The team who are taking KYC document from the investors and bounty hunters may sell your documents to the others.

[semobo]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

ONe who knows how the internet and websites work says that anything on the internet is unsecured even if the site we are giving the documents keeping it safer and cared about our privacy there will be security breach ad can steal all those documents if they want.

[Distinctin]

You don't have to ask this question if you trust the exchange you are using, of course there's a risk because they are holding your information, and if they will think of violating the law which is to keep information private or confidential you are at risk but they are at big risk also and I don't think they will do these stupid things and just sacrifice their business.

Trust only an exchange that could loss their business if they leak information.

[DoublerHunter]

This question has been discussed a hundred times here in the forum.
You can simply avoid KYC/AML if you feel don't safe to them, no one force you to join in the ICO's project that having the implementation of submitting personal data. Submit only when they have already trusted the site and operate almost a year without fraudulent activities. In crypto space now usually they implement KYC/AML to the users which feels us unsafe.

[Upgrade00]

Data has become more important in the present day,with even popular websites compiling data on those who regularly use their sites. So it's no surprise people are wart about who/where they submit their personal details.

It is also becoming more difficult to circumvent the KYC on exchanges. So do your background research, the history and track record of the website. Also endeavour to read the privacy policy this gives you an idea of your legal stance.

[Byakuga]

There is no proof that our KYC details is in safe hands and its a must for most of us because 80% of exchanges use KYC now and its only a matter of time before KYC will spread to other exchanges too

[traderiphy]

My kyc details are my personal information so I gladly skip any exchange or bounty that places such requirement before. The more reason why I will always clamour for decentralized exchanges is because, they hardly require kyc.

[robelneo]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

it still depends on where you're submitting your documents, I don't go for airdrops and bounty campaign, there's no guaranty that they will not run away, past actions of airdrops and bounty campaigns have proven that they are not 100% safe, if it exchanges and they are considered legit and top exchange in the market I can do KYC even if there's a probability of the exchange closing down.

[arnoldrimmer]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

Most people stay far away from projects and exchanges that require KYC as most of them end up using that personal details to their own  benefit. For me a KYC exchange and project is a no no

[stigmacryptonight]

I think the documents we send to the project seem insecure. But with that, I have never found a case like the project selling our data. And KYC for investors seems mandatory, if we want to invest.

[vladimirhf]

some projects ask even for airdrops due to the high number of fake referrals, people with multiple accounts...

[yazher]

I only do KYC to some trusted exchanges, I don't gamble my identity to the other exchanges that only emerged lately who knows if they turned out to be a scam? and run away with your money and the worst part is they will use your Identity to take peoples money.

[peter0425]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

It's not safe of course, there are a lot of exchanges and projects being hack so your data is always exposed. And you don't know what they are going to do with personal data, perhaps they can sell it to another party to make money out of it. And what happens if it ended up to the hands of the criminals?

[Herbert2020]

first of all you should never compare exchanges asking you for KYC documents with some random ICO project asking you for your KYC documents. they are very different. the exchanges are legitimate businesses with real business going on! they may not all have to be forcing KYC but when they do, you are still giving your documents to a place that is legit. in comparison an ICO project that requires KYC is just scamming you because there is no business, no company, no known person,... there is some random dude on the internet that you are handing your personal information to!!! and they ALL sell it on the dark market without exception.

secondly safety is another matter. assuming you gave it to a legit place, it still can never be 100% safe. many of these exchange databases were hacked. many even leaked it or sold it themselves. for example Bittrex sold their user's KYC documents online and pretended it was a leak/hack.

[asriloni]

Day in day out there are new projects requiring kyc from investors
Exchanges requiring kyc, for some in order to maximize your ability to withraw large sums of cryptocurrencies and some even before you can trade on the exchange
The bigger question is how safe are our kyc documents?

It's not safe because if you are not located in the countries that supported GDPR (EU) and then there is no regulation that gives guarantee for your identity. I can say that our identity is still lack of security because it has bee holding by the third parties.

[Lantind]

If KYC for a bounty depends on the manager asking for it, because with KYC at least it has prevented the existence of fake accounts or participants entering the bounty, as well as those who ask for the KYC when we trade, and it will obviously be safe if we trade in exchanges already popular or already large, in this case everyone is obviously worried if our KYC is used on things that are not good, but it all returns to their individual, because if we are still doubtful about something then don't follow it.

[indah rezqi]

Currently, KYC is a tool for seriousness in crypto activities, whether it is a bounty participant, investor or exchange. When the exchange requests KYC, this shows that we are not robots. In my opinion, the KYC that we provide is safe, as long as the exchange is serious in its function.
For those who are afraid of KYC security, it means that they are not serious in participating.

[awakpane]

In my opinion, the purpose of sending KYC documents is to ensure that each member is genuine. From the positive side, that KYC goal to be able to identify members if there is an error or fraud so that the manager or managing KYC can recognize it. I am also sure that the KYC documents that we send are safe and secure.