Your opinion about KYC

[hani20980]

Some exchanges and wallets asking for KYC verification to let you trade without limits and most of airdrops
asking for KYC are u against KYC verification or not

 

[Anis Boukezzoula]

if they demand it for Paypal or any payment option like Payeer, Skrill, Web Money... then it's okay because like that you make your account safer but for airdrops and some sites is totally crap.

 

[Ehizzy1]

I am against kyc verification because it might be used by those exchange sites for illegal purposes

 

[Vladv26]

Well, KYC contradicts one of the main advantages of cryptocurrencies and that is your anonymity when using them. You are no longer anonymous and the coins you buy on exchange can be traced back to you. But in the same time KYC is something mandatory because bitcoin and cryptocurrencies was not created for people to make illegal transactions. So as long as you know everything you are doing is legal and you are not breaking any laws there is no reason for you not to complete a KYC. The only thing you need to make sure is that you only complete KYC on websites that are secured and can be trusted, do not complete KYC on new websites or websites that look suspicious and don't have any reputation

 

[Ehizzy1]

Well, KYC contradicts one of the main advantages of cryptocurrencies and that is your anonymity when using them. You are no longer anonymous and the coins you buy on exchange can be traced back to you. But in the same time KYC is something mandatory because bitcoin and cryptocurrencies was not created for people to make illegal transactions. So as long as you know everything you are doing is legal and you are not breaking any laws there is no reason for you not to complete a KYC. The only thing you need to make sure is that you only complete KYC on websites that are secured and can be trusted, do not complete KYC on new websites or websites that look suspicious and don't have any reputation

Yeah i think this is right most people makes mistakes completing kyc information on site without without reputation , i think most times they do so because of the little cash they want to earn from airdrop

 

[mikenova22]

It is mandatory for all service providers to undertake to provide services. It basically collects valid ID from the customer. You can not open a bank account, buy a mobile SIM or pay taxes without them validating your identity.

From now on, Crypto is not in its illegal age, it is in its pre-legal age.

Meaning it gets recognized, damn it's ten years here with us. With regulation and legislation, it goes from nothing to everything.

Look, if you do not know your customers, according to the already existing law, you are laundering money. Is there any crypto money now? Legal no. It will probably never even count as money, it is too volatile, it has no tax function. Law theory says that not me. Not having KYC in place will ruin you if not this year the following years 100%.

You can thank the US Gov (and their 5 eye lap dogs) for KYC / AML laws.

 

[Braga13]

I think it's made it safer ... for me if there's no KYC it means that the site is fraud .

 

[Ralphjoe]

The KYC also known as know your customer is a great idea to ensure transparency and good ethics in the operation of cryptocurrencies. In this age where by so many people are alleging that cryptocurrency encourages illegal transactions, the introduction of KYC would be a great way to prove these people wrong.

 

[Patrik]

i would do KYC (know your customer) only if it's about a legit and trustworthy trading platform, i don't trust airdrops as they might sell your data later

 

[Chibson]

Know your customer popularly known with the acronym kyc is very good in the sense that it reduces fraud and impersonation. I think I would only do a KYC if the website is legit and reputable.

 

[Trexxxy]

I don't understand why an airdrop would ask for KYC. I think it is understandable when it comes to trading platforms and the likes.

 

[Aaron625]

I think kyc as a way to remove the fraudsters and scammers entering into airdrops or crypto exchanges. So there is no problem in providing our government ID or passport which they ask for kyc. Make sure the exchange or crypto to whom you are providing your personal details are legit companies.

 

[Nurudeen]

Know your customers KYC is a form of verification where companies use to know who they are dealing with because a lots of scammers are now on the internet. So I think it's good for everybody to prevent scam from people

 

[Monster Masterpiece]

KYC is for distinguish of different people so it is intended to prevent that a person open more than one account and avoid that site blocks your account if someone else login with same IP because KYC is differentiating people even they login with shared wifi.

 

[Setfragil]

Asking for KYC is just to protect you, your account and others that you might want to transacts with on a platform. Most exchanges requests for KYC before you can use their services in other to prevent frauds and scams but airdrop asking for KYC is a total waste of time.

 

[eLdavis]

Like they say, anything with a advantage also have Some disadvantage. The use of KYC was created to limit fraudulent activities on this plathform But it also being used by scam site to steal information of others. Before going through a KYC verification i believe you might have made research about the site asking for it

 

[Aaron625]

Like they say, anything with a advantage also have Some disadvantage. The use of KYC was created to limit fraudulent activities on this plathform But it also being used by scam site to steal information of others. Before going through a KYC verification i believe you might have made research about the site asking for it

Yeah exactly , we should be very careful about that. I always do kyc for legit and reputed crypto exchanges , never for any type of airdrops that asks for kyc.

 

[Destiny030]

KYC, it simply means Know Your Customer,
Many online banking, many company and institutions do as for KYC ,
In our modern business, it's highly recommend, to filter scammers and also to know more about the individual , if he is reliable or not, so KYC is needed and it helps a lot in our partnership with individuals.

 

[eLdavis]

Yeah exactly , we should be very careful about that. I always do kyc for legit and reputed crypto exchanges , never for any type of airdrops that asks for kyc.

Exactly, that is what i also do. If its a legit exchange plathform like luno, Binance or roqqu and the likes i have no issue doing KYC as such plathforms are tested and trusted or even bank apps. But sites that i know notting about, i dont do it

 

[Aaron625]

Exactly, that is what i also do. If its a legit exchange plathform like luno, Binance or roqqu and the likes i have no issue doing KYC as such plathforms are tested and trusted or even bank apps. But sites that i know notting about, i dont do it

Yeah , but I have taken risk once of verifying kyc in a high paying airdrop before , and also got rewarded for it but I am never sure whether my personal details are safe now with them or not.