Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: sorel57 on February 19, 2020, 04:25:06 AM
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Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if hacker got my personal data.
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You give your data not only to exchanges, right? It's as dangerous as living in the modern world where everybody can find out anything about you if they want to. So don't worry... KYC is tough but it exists, somehow we have to deal with it
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did u do kyc too bro?
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Hi,
The exchange asks you the KYC for your security (for example if you lose the account) and for the regulation policy in many countries.
Anyway, you can skip this verification using the limited-account.
Regards.
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Its not only for KYC, that we give all our information. There are various other places too, where giving personal info is required. Can't skip these things.
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Its not only for KYC, that we give all our information. There are various other places too, where giving personal info is required. Can't skip these things.
true words, anyways these standards are needed in case when you lose your passwords or sth important connected to your accounts etc
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I'm afraid to do KYC... what is your experience?
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I do n,t think so that KYC is dangerous becasue so many peoples will do KYC and now almost sites will ask for the KYC specially the Airdrops sites and peoples will do that.
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You leave your data when registering at all payment services, including online stores and paypal. Crypto wallets are no worse
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KYC is against the idea of crypto.
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yes, sure.
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Yes, Some platforms are safe and you don't have high risks, but al ot of projects of ICOS, Exchanges and more asks KYC which can be used for bad things.
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Thanks for the information because I also afraid to do KYC.
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Thanks for the information because I also afraid to do KYC.
Sometimes we can't avoid it, But i Avoid it aways I can, some bad people can try to use your data, a lot of new ICOS do that.
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KYC is never dangerous if you done it on good platform I never doing KYC for Airdrop and exchange , I JUST used binance with kyc approved member's .
Read review about that platform you want to do kyc there.
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KYC it's the way that BTC found a place in the modern world, for me. With kyc there's a chance to inspire security into mayor activities, knowing that BTC is not being handle just by illicit transactions or dirty money.
It gives a necessary transparency to the process that cryptos honestly needs in order to survive in this world
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KYC can be dangerous and cannot be dangerous if manage properly by the service provided (exchange etc) but with the issue of data linkage which have occurred in crypto sphere people need to be careful and understand the honesty level of the site they do KYC.
Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if hacker got my personal data.
You cant espace KYC as crypto to fiat exchange site is concerned and if an exchange got hacked, the hackers are always after the exchange wallet. However, it only an inside man who work on the exchange can steal or link people KYC information.
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When someone does KYC, they are forced to hand over parts of their personal identity to third parties (such as an exchange, ICO, etc.). After that point, they are no longer in control of the process and are fully exposed to third parties to safely handle their confidential data. If something gets hacked, the affected people cannot do anything.
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Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if a hacker got my personal data.
It is dangerous if the project or airdrops are a scam, but if you are sure about the project or any exchange platform on which you are going to use for you to be able to trade your coin I think there will be no problem with it as long as you activate your 2FA. Just make sure the exchange site is one of the tops exchanges in the market.
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Well, we have had series of stories about situations where KYC documents were taken and sold to third party companies and thus, exposing several people to identity theft. A case has also been made involving the crypto project XDB who collected KYC documents of bounty hunters twice and refuse paying and it is alledged that hunters documents may be sold. Several exchanges demand for KYC for larger withdrawals and people don't really feel comfortable giving out their identities. However, KoinPro exchange has made it so easy by providing top notch trading services without demand for KYC whatsoever. Irrespective of the sums or amounts involved, you don't need any for of KYC for accessing and using the KoinPro exchange which also offers futures and CFDs trading. Check them out.
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If you have ever used the KYC/AML process of the hacked crypto exchanges, YOUR PRIVACY IS COMPROMISED. Also, anyone can use your leaked personal documents to open any fake account using your name and launder millions of dollars through fake crypto exchange accounts.
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It could be dangerous if you provide info to bad sites
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Yes, KYC contradicts the idea of crypto, but in many projects this is a mandatory step, unfortunately (
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the best solution if you want to secure the data you better not perform KYC in exchange if you want your personal data is safe because every KYC in exchange quite dangerous if exposed to hack the data exchange each account could be taken and misused.
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Be careful bro..doing KYC depend on situation and condition. If you need KYC, example KYC on Binance why not? you have to crosscheck before you give your data. Because so many web phinising to steal your data.
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I didn't think that KYC is dangerous , because kyc have a proff that we are legit perosn . I doing KYC in binance and localbitcoin website. I think to approved my KYC here also .
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When it comes to submitting our credentials to exchanges, we have no choice but to find exchanges that do not yet require our data. A much greater danger is posed by various kinds of new ICO projects that require investors and participants in ICO bounty campaigns to provide such data. Among such ICO projects, a significant part are scammers.
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Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if hacker got my personal data.
Though you have to give personal data when you gone to investment in any coin or IEO or project but we have nothing to do here. Its depends on the government that the project launch and there maybe some restrictions from government so company or team must be bond to do this. And if you want to invest here you have to give. Otherwise you can not invest any project which requires KYC.
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Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if hacker got my personal data.
Yes, some times KYC is dangerous for man but till now i did not hear about any violence about kyc elements that hackers hack and misused it. I think we should not worried about it.
thanks.
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I'm afraid to do KYC... what is your experience?
Some illegal team management steal the personal information via kyc documents.
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Do you know that it's even risky posting your pictures on Facebook and other social media. My advice, I don't do kyc with small centralized exchanges.
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Not at all. All kyc process not dangerous because some projects owners need to identify real and realistic customer and hence they proceed kyc with documents. But some fake and unsustainable illegal companies steal documents, so be careful.
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Before answering, answer the question yourself: Why do exchanges ask you to KYC?
They simply want to protect users, when you have information stolen or withdraw money at a strange IP. They will notify you by email so you know and can take control back.
And from what I see, while KYC they always make sure they won't use the information for another purpose. I think the law will protect us ;)
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KYC has both good and bad sides. The good side is that it helps to authenticate the identity of someone and ensure its legit but on the other side, if it falls into the wrong hands it might be used by others for different purposes that the owner is not party to. There are situations where some people sell KYC documents of others, at least I can remember that scandal in the year of ICO hype. It happened.
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I am generally very negative when any project asks for my personal data due to KYC process. Although I understand the importance of KYC/AML in contemporary world of finance, I am trying to avoid KYC at quite high cost.
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The purpose of KYC is to "Know Your Costumer." Some ICO requires KYC to determine their geographical location because sometimes that particular location is prohibited. Somehow KYC is safe but don't do it without knowing what kind they are. Though risky you need to do it for verification.
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You are right that many times they use kyc to find out the real information but they scam more through kyc this is especially true of hackers who hack into our personal information. kyc is very dangerous and good to stay away from now then they will not get our personal information and there will be no fear of being hacked.
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In this stage blockchain technology make a positive sense to every one. It is getting more popularity day by day on the other hand scammers are very active for assets. Here is the topic is kyc,is it dangerous? i think kyc is not dangerous thing. It is a normal process of the owner of web or exchanges or some thing like that. It is very simple. But it will very dangerous when it is required from any scammer. I think every one know what i am wanted to say.
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when a phishing site want information from consumer, then i think kyc is very much dangerous for consumer. otherwise kyc not bad.
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Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if hacker got my personal data.
A significant part of the exchanges will require our identification data and we cannot get away from this. Hackers don't hack exchanges that often. However, if you don't want to go through KYC, there will always be decentralized exchanges and exchangers that will not require this.
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It is very much dangerous because when give your information if they are not legit then definitely steal your assts.
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you should know first what kyc mean , and yes it can be dangerous if the platform or the site you verified your identify in chose to sell or to use your id or personal information for profitable reason ( you wouldnt know about that ) in this way the whole matter can go wrong and you will be in danger.
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KYC is the transfer of your personal assets. This is not good for everyone. We must make sure that our information does not fall into the wrong hands in the case of KYC.
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The term “KYC” also references the regulated bank customer identity verification practices to assess and monitor customer risk. Is just the job.
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The term “KYC” also references the regulated bank customer identity verification practices to assess and monitor customer risk. Is just the job.
KYC actually reference Know Your Customer and it was introduced by the SEC when there was simultaneously an increase in cryptocurrency scams.
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Yes brother if you do KYC then it will never be fatal it will always be good. Because KYC Security is the only KYC of any exchange and project, then no one can hack your account. So if you do KYC, you will never lose but the profit is more so we will express the validity with KYC.
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If you do IC, it will never be fatal, it will be profitable because KYC is the proof of how illegal things are seen.
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I think that KYC will be dangerous if:
- KYC in a certain platform where it may belong to the scammer
- KYC for an uncertain reward
- KYC for airdrop or bounty
- KYC in unclear projects
Actually, this may be dangerous because our data may be used for something illegal or they steal our ID
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I'm afraid to do KYC... what is your experience?
KYC is just kind of risky because your personal information can be leaked
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KYC is a requirement by FATF for exchanges, and we can't trade some exchanges without KYC. Some allow with low volume without KYC, so if any exchanges hacked, then most of the hackers collect funds and hack KYC, but we can't survive without KYC verified account in exchanges.
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I've always say KYC is like two sides of a coin. It comes with good and bad sides but I personally think its good side is much more that the bad sides. We've seen recent attack on exchanges lately. We only think of the lost assets and very few think of the numerous information's of users that the hackers have been able to access. Even with this, KYC is still important and inevitable because it protects users and exchange at the same time.
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I do n,t think so that KYC is dangerous becasue so many peoples will do KYC and now almost sites will ask for the KYC specially the Airdrops sites and peoples will do that.
do you think giving your personal information such id to an airdrop on twitter is a wise move ? i mean you can earn 5$ in most cases but only god knows what they gonna use your informations in , be careful mate .
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I've always say KYC is like two sides of a coin. It comes with good and bad sides but I personally think its good side is much more that the bad sides.
KYC is required depending on the situation and conditions, if KYC is required in exchange. It doesn't matter if it's reliable, if KYC is needed to receive airdrops and bounties, I say "No"
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I do n,t think so that KYC is dangerous becasue so many peoples will do KYC and now almost sites will ask for the KYC specially the Airdrops sites and peoples will do that.
do you think giving your personal information such id to an airdrop on twitter is a wise move ? i mean you can earn 5$ in most cases but only god knows what they gonna use your informations in , be careful mate .
Right, in case of bounty and airdrop, it is very dangerous to do kyc that worths nothing excepts only few small amounts but this documents can be used in illegal ways. We have to be careful about this from next time.
I've always say KYC is like two sides of a coin. It comes with good and bad sides but I personally think its good side is much more that the bad sides.
KYC is required depending on the situation and conditions, if KYC is required in exchange. It doesn't matter if it's reliable, if KYC is needed to receive airdrops and bounties, I say "No"
KYC for reliable exchange like Binance, Kucoin and top trusted exchanges is ok. It will remove scammers from exchanges. The OP is in thinking about exchange hack and its consequence of information after hack. Hence, we have nothing to do with hack. This problem can be solved only with DEX where kyc isn't necessary and trade can be done only connecting wallet.
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KYC for reliable exchange like Binance, Kucoin and top trusted exchanges is ok. It will remove scammers from exchanges. The OP is in thinking about exchange hack and its consequence of information after hack.
Yeah. I agree with KYC on exchanges like Binance, I do that too. At my local exchange, I must also use KYC to prevent money laundering. I thought it was fine
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KYC can never be terrible. I think KYC is a healthy solution for any project. If KYC is done in any project, they are good for the users.
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One thing that comforts me why I choose to give kyc if it is needed to withdraw my find, I just say to myself that I am not important person in this world to get their attention. Besides kyc is part of digital matter in some digital matters so we have no choice.
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Your account will not be verified if you do not provide personal data. If you do not do KYC on the account where you will buy and sell tokens on the exchange, then your account is not secure. Because if you don't provide your personal identity, if you reverse the dollar, it can be hacked, but it is less likely to be hacked whenever you do KYC.
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You must deal with it bro. yes we knew that their are some hackers that may use our data but I think this Kyc is also improving their security so that their are no data breach in their system.
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We would not feel safe if hackers found our personal data. But there are many people who are trying to embezzle. Verification is essential for the exchanges to get rid of their trap.
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I guess to make it short,,,,
If you think KYC is dangerous, then do not do KYC and immediately leave the project.
If you feel safe, then obey the rules and passed KYC process.
Everyone have the authority to process KYC or not.
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I guess to make it short,,,,
If you think KYC is dangerous, then do not do KYC and immediately leave the project.
If you feel safe, then obey the rules and passed KYC process.
Everyone have the authority to process KYC or not.
I am very afraid of revealing my personal information and whenever I can be deceived by other people and appropriated your property. Be careful with projects that require you to provide KYC
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You must deal with it bro. yes we knew that their are some hackers that may use our data but I think this Kyc is also improving their security so that their are no data breach in their system.
I think projects that require KYC are usually big projects and they usually pay us a reward. So I often participate in projects that require KYC
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Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if hacker got my personal data.
I find it very dangerous as well. But the value it brings cannot be ignored so usually I will do all the quests so that I can return the prize code.
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Actually, I do not care KYC anymore lol. All bounty hunters and even bounty participants had learned my all info last year. It is kinda annoying but I do not care any more if I think a project is good and promising I can give my all info them.
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If you don't want to give your personal info to the exchanges that's your choice no one will blame but remember that sometimes we don't have choice because of rules.
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Please check The 2nd Halving - or KYC halving (https://www.altcoinstalks.com/index.php?topic=184079.0).
From now on,
100 points = 1 ALTS (For KYC verified users / and exceptions)
200 points = 1 ALTS (For none KYC verified users)
Are you ready to complete KYC on ALTS forum to own more ALTS token?
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Are you ready to complete KYC on ALTS forum to own more ALTS token?
I don't think I'll be able to :-\ I think I suffer the halving along with other non-mods and non-ambassadors and non-donators.
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As we know it, the KYC itself is not dangerous, what is dangerous is moral and the ethics of the company that stores our personal data as well as the security in the servers of said companies. I have seen several bounties and also some ICOs that have asked their participants and investors for KYC and then they have disappeared, so it all depends on the company.
On the other side it would be nice if we all demanded KYC for the project team.
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I do n,t think so KYC is hazardous becasue endless people groups will do KYC and now nearly destinations will request the KYC extraordinarily the Airdrops locales and people groups will do that.
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Don't think KYC is dangerous. If someone needs your personal information, they will get it anyway, there is not much safe on the Internet. KYC was introduced for the safety of the user, you just need to carefully select projects to which you are ready to provide your personal data
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I do n,t think so KYC is perilous becasue countless people groups will do KYC and now nearly locales will request the KYC extraordinarily the Airdrops destinations and people groups will do that.
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I believe some exchange. And i feel free to competing KYC.
But, some exchange is dangerous. If you effected by scam exchange, Then KYC can be dangerous. They can use you documents for anything bad, Which you will never want.
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We give our data to many peoples in our physical life amd is always a risky thing but in crypto some of the good companies may require to fill kyc. For knowing there customers. They do this to avoid fake people, because many fake peoples do multiple account.
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Don't think KYC is dangerous. If someone needs your personal information, they will get it anyway, there is not much safe on the Internet. KYC was introduced for the safety of the user, you just need to carefully select projects to which you are ready to provide your personal data
Can you get my personal information? Try it and then we will compare it with documents I've sent to pass KYC. I'm sure you will find something, but that wont be as detailed as it is in bills or passport.
Imho, KYC is not dangerous, but in most cases is useless. Some exchanges ask for KYC to avoid people from countries where cryptocurrency is prohibited. Yet still they allow to pass KYC by sending drivers license. I have to drivers licenses, one is local, one from US. I can send my local, use VPN but trade from US, which is often prohibited...
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Different hackers store different personal data in each person's wallet in different ways. From these you lose a protection of the wallet. If you ever have to pay Wallet's privacy to join a ghost or a campaign, refrain from joining those campaigns. Because from there you can be deceived, thank you.
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I don't like kyc because they are stealing our personal information and in future they can use our personal information others sources.
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I don't like kyc because they are stealing our personal information and in future they can use our personal information others sources.
Dear mate, KYC is required for some bounties and no one is forcing you to do it. The other thing is that if you are connected with the digital world then everyone who is good at tech can steal any kind of your data.
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I think we should do KYC if we use a centralized platform. It will be easier to retrieve back that account if something unexpected happens with your account. But doing KYC in any platform can be dangerous.
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KYC for bounty is dangerous. It can steal your documents and sell in dark sites which may create problem for you. KYC for centralized top exchanges is not bad idea. This is up to you. Most of the top Centralized exchanges don't want KYC as compulsory. You can trade and withdraw easily but it is limited, hence KYC will increase limit of withdraw volume.
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For me KYC is not good because ur personal details can be stolen. And is very dangerous to share our KYC. But if the platform u are working on is legit it good because if u mistakenly lost ur account it will be easier to restrive it back
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Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if hacker got my personal data.
I think KYC is not dangerous at all. Because maximum are from other countries and they can not do anything with my NID card or driving licence or address of my residence. But maximum exchange now not allowing kyc as their business policy when they saw negative effects of kyc. No no tens about it.
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It is very dangerous to give personal information if you have said that. But if you want to verify your account, you must provide the correct data. Otherwise you will not be able to KYC your ID. I don't think there will be any problem if you send the correct information here.
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For me, it is too late to think about it lol. I guess 100 different projects (some of them are scams) have my KYC info. I hope I will not be arrested when I visit a foreign country because of a bastard who uses my info for illegal activities.
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choose exchange selectively if you want to do kyc because many trusted exchanges if there is a data exchange breach can guarantee your data remains safe
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@moantana the problem is not the exchanges, or not all, the best known do not give a problem with KYC, the problem is with the projects (IEO and ICO) that require doing the KYC in order to participate and buy. Not all teams that require KYC are real projects, many are scams and can use this private user data to commit crimes.
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If you feel not safe please do not give personal information, just go and get another one. So far, connect wallet is more dangerous because they can take control and we can't do nothing. KYC is important for safety but see what we do and the function, use our brain to see it. Not all people like KYC because we also knew there's people without ID join crypto market, so give them chance to grow up.
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When a team requires KYC, I think it should be both ways, if IEO/bounty participants need to submit their private data, team members need to do the same, participants need to know the identity of team members, even in video. That way there wouldn't be a lot of scams and everything could be a little safer. But sadly most teams wouldn't want to adopt that idea.
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Why would we give our personal data to exchange? What would happen if the exchange got hacked? imagine the hacker got our personal data, that would be bad...... I feel really not safe if hacker got my personal data.
I agree that there is a risk your personal info will leak once the exchange got hacked, but centralize exchange need it because of the law, if you don't like KYC then us DEX. I don't know though that there is DEX that let you deposit fiat money.
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I agree that there is a risk your personal info will leak once the exchange got hacked, but centralize exchange need it because of the law, if you don't like KYC then us DEX. I don't know though that there is DEX that let you deposit fiat money.
The problem is not that an exchange can be hacked and your personal information stolen, security on exchanges is usually "good". The problem is when you participate in an ICO/IDO for example, security is not always good and neither are the intentions of the teams, that is the problem.
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KYC is very dangerous because your personal data we be required for exchange, and if mistakenly the Exchange got hack our personal data can be used against us.
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It depends on the platform. It's obviously dangerous. In this case, I trade on all the exchanges where KYC is not required.
Here you can find where you can trade btc without kyc.
https://articles.whalesheaven.com/why-where-to-trade-bitcoin-without-verification/