budi691
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August 22, 2020, 01:20:20 PM |
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KYC is only required to comply with regulations and is harmless if used on proper exchanges, and it is natural that KYC is needed to control the exchange of each individual, maybe in every country there are rules for every citizen when exchanging Bitcoin for Fiat money and other cryptocurrencies,
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sarmrakib
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August 22, 2020, 02:12:58 PM |
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You can Use DEX if you want to avoid the kyc system on Centralized exchange . I think centralized exchange collect user kyc to make secure the transaction level .If you think its making trouble you, you can use easily the DEX .
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Cryptoreflector_666
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August 22, 2020, 02:40:23 PM |
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I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.
The main problem is scammers who use a lot of accounts and do not allow honest people to earn good money. Good and honest. I believe that this is the right strategy as companies do not receive their HYIP and consequently attract new investments. For us, this may not be so obvious, but the problem exists and KYC is the solution.
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carriebee
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August 22, 2020, 02:45:22 PM |
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You can Use DEX if you want to avoid the kyc system on Centralized exchange . I think centralized exchange collect user kyc to make secure the transaction level .If you think its making trouble you, you can use easily the DEX .
Op should know that there are other exchange does not impose on having a kyc. Not all exchange requires users to provide personal document just to use their services. So we still have the freedom on using the exchange just like dex which you mention and also binance.
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Anna138
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August 22, 2020, 02:48:34 PM |
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You can Use DEX if you want to avoid the kyc system on Centralized exchange . I think centralized exchange collect user kyc to make secure the transaction level .If you think its making trouble you, you can use easily the DEX .
Op should know that there are other exchange does not impose on having a kyc. Not all exchange requires users to provide personal document just to use their services. So we still have the freedom on using the exchange just like dex which you mention and also binance. Eventually, all exchanges will require proof of identity if the amount of turnover exceeds some set General limit. This is a normal scheme that would protect both yourself and the exchange, where you may have more than ten thousand dollars that you do not want to lose because of scammers.
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Yamifoud
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August 22, 2020, 02:49:08 PM |
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I understand that you are worried about your privacy and that is also our main concern here. But we still believe that there is an option to keep our privacy at all costs. There is a reason why many sites require KYC for all registrants but it was your option as well if you make it or just leave it. Mostly centralized exchanges did that but there are decentralized exchanges that could save us for that.
Well, all it matters to you, I don't think we should need to keep anonymous all the time and forever, and afraid of doing KYC. Besides, doing KYC isn't hard thing to do or being afraid of losing our privacy, I didn't find it wrong if I only give it to trusted exchanges, not in phishing sites.
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bitbunnny
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August 22, 2020, 02:58:24 PM |
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KYC is only required to comply with regulations and is harmless if used on proper exchanges, and it is natural that KYC is needed to control the exchange of each individual, maybe in every country there are rules for every citizen when exchanging Bitcoin for Fiat money and other cryptocurrencies,
KYC has become s standard and it's not a novelty anymore. People often have negative attitude towards KYC not realizing that is for their own protection. In that case they often point out their privacy thinking it's endangered and on the other hand they reveal all sort of their private data all around internet and social networks. So, it doesn't make much sense.
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aioc
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August 22, 2020, 03:19:19 PM |
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I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.
Bitcoin is till decentralized for me if you subject yourself to the regulations of this exchanges then you surrender your freedom not Bitcoin, there are hundreds of ways to trade without compromising your privacy you can trade peer to peer use a reputable mixer, you can still use these exchanges and not surrendering your privacy there's a way you can also create your own system, use your imagination.
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lumeire
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August 22, 2020, 03:32:56 PM |
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KYC has become s standard and it's not a novelty anymore. People often have negative attitude towards KYC not realizing that is for their own protection. In that case they often point out their privacy thinking it's endangered and on the other hand they reveal all sort of their private data all around internet and social networks. So, it doesn't make much sense.
KYC is not for the protection of individuals or the customers of the exchanges, it is for the protection of the exchange operators that the funds coming to their wallets aren't involved in money laundering, can you give me an example of how KYC will help you in your life in cryptocurrencies, I guess there isn't any use case for consumer protection of KYC that the exchange does. If you complete your KYC and then your account gets hacked or the exchange gets hacked then there is no way they would prioritise you over other people and the funds won't ever come back to your account, no matter whether you have done the KYC or not.
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ghost424
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August 22, 2020, 03:44:55 PM |
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That actually depends on the exchange since some old exchanges does not require KYC before and its users are allowed to trade whenever they want. What's actually scary are the new exchanges that allow KYC since they are not yet known and they are forcing their way by using campaigns to have users register on them. We just need to depend on our own decisions since we are the one's who are giving our personal information.
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Lizzie_Girl
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August 22, 2020, 04:56:57 PM |
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I was reading something about how to avoid scams online. One thing to avoid is KYC entirely. There are very few reasons to ever give out your KYC info. Scammers use KYC as a means to "appear" legitimate. ALl that happens is you give a criminal your info.
BTW anyone can open an exchange. You can buy a script for a few hundred $$$ then fund it with your own crypto. Or even not fund it at all and scam people. You can claim just about anything you like and demand KYC for "legal" reasons. It is just a way to prevent you from doing something.
Funny how you don't need KYC to deposit yet you need it to withdraw. The sign of a clear scam.
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Asuspawer09
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August 22, 2020, 05:31:55 PM |
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I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.
I guess exchanges just needed this extra requirement, to avoid a lot of issues in their exchanges. Having a lot of funds in the exchange I guess we can't blame them taking so much security and getting KYC from their users. This day KYC is already a thing in a lot of exchanges, in the past year's exchanges don't Require KYC and you could pretty much trade in their exchanges and withdraw without any problem.
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akram143
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August 22, 2020, 05:51:32 PM |
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I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.
Still there are ways to buy bitcoins without completing KYC services like localcryptos which is a p2p trading platform with KYC procedure.But why we have to get afraid that much they can trace the bitcoin usage but as long as we are not doing anything which goes against the laws of your government you no need to worry, and also people who uses bitcoin for illicit purposes may not use it completely.
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seramania
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August 22, 2020, 06:06:42 PM |
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KYC is useful for avoiding criminal acts due to the use of crypto, there are two things between the pros and cons. but with the KYC, many people feel safe with their assets and people will feel safe because they can avoid criminal acts
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suvo05
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August 22, 2020, 06:52:34 PM |
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There still P2P option available. An exchange that associates with fiat conversation from crypto must need gov permission, and you must understand while using those exchanges that you are trying to make a profit in terms of fiat, being associated with centralized system the exchanges will certainly ask you for the KYC.
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ChrisPop
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August 22, 2020, 06:58:12 PM |
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If completing KYC is a problem for you, then you will be surprised how many people actually have possession of your personal data. Starting from banks to utility and service companies to online service providers of any kind. Now.. of course that you should only provide your data to registered companies which actually have regulation like GDPR. But again, you have NO GUARANTEE whatsoever that the company is not selling or leaking info about yourself to third parties & you're also exposed to hackers. As an alternative to centralized exchanges you can do P2P/OTC transactions. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Actually I know a crypto project that is working on offering cross-chain P2P transactions.
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shield132
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August 22, 2020, 07:04:33 PM |
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I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.
Bitcoin was leaving the trace from the very begining, blockchain alone is an opened book of transactions but this doesn't mean that bitcoin and cryptocurrencies are getting dangerous. What gives you a reason to say that? If everything you do is 100% fine and legal, then believe me, no one will seek for your transactions and do deep investigation around it, so finally you are still secured and aren't traced. But if you do illegal things, then yeah, bitcoin isn't secure cause as you see lately, a lot of people who used bitcoin for bad purposes were caught and it's not so easy to hide your bitcoins because people already learnt how to trace it. And KYC, yeah, I don't like it too and still there are some business that offer crypto services without KYC but very limited in number. Governments request them to ask users for their KYC documents but at the same time they can't protect these sensitive information carefully and lose it multiple times (we got hacked and other blablabla).
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Yatsan
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August 22, 2020, 09:52:38 PM |
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What do you mean that Bitcoin and other cryptocurrencies are getting dangerous? It is because of the exchanges asking or enforcing you to fill up KYC for your identity verification? Then it is on the exchange itself not on the cryptocurrencies that you have an issue. Basically you have get along into a centralized exchange so you must not be surprised that there is a KYC process for it is a needed process based on the regulations stated by the government for allowing adaption of cryptocurrency services to be running in a certain country on which it is done to prevent malicious activities to be tolerated and to keep people safe on doing transactions since centralized exchanges ask for concern and permission to operate from the government.
If you do not want to be monitored or shared any of your identities because you want to feel secured and keep your identity in private, then get into a decentralized exchanges to end up such problem but do not blame the cryptocurrency itself for asking you information because exchanges specifically centralized are just doing what is stated on the regulations to keep its users safe and why do you fear KYC if you have nothing to hide from the authorities for doing crypto transactions?
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jpnl0006
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August 22, 2020, 10:00:50 PM |
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The need for KYC is to better filter the inorganic members in projects and also be accountable for the investors investing or using a particular channel that concerns finance and other financial driven transactions,this goes to reduce the danger in the space.
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arditiyan
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August 22, 2020, 10:52:42 PM |
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many people are worried and feel threatened because of the KYC regulations. but I think that with KYC rules it makes it easier for all matters including sending the right rewards, and also ensures that there is no misuse of assets against the wrong people. So they say if bitcoin or crypto is a danger it's not a danger but a security status
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