Is kyc dangerous?

[Gurujebs]

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.

[Altcoin1998$]

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.

[Amaya]

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 

[Mexite]

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.

[damberg]

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.

[TERMINO]

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.

[labonikhatun]

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.

[sky20]

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.     

[Dj01864]

when a phishing site want information from consumer, then i think kyc is very much dangerous for consumer. otherwise kyc not bad.

[Delgado]

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.

[Ronald]

It is very much dangerous because when give your information if they are not legit then definitely steal your assts.

[iloveyobit]

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.

[Primo1760]

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.

[Sammy9ce]

The term “KYC” also references the regulated bank customer identity verification practices to assess and monitor customer risk. Is just the job.

[Positive]

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.