Is kyc dangerous?

[Msweet]

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.

[Nikawe]

I don't like kyc because they are stealing our personal information and in future they can use our personal information others sources.

[msz900]

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.

[Istiak]

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.

[Malam90]

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.

[Bravo]

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

[babu10]

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.

[Papusha20]

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.

[Filo]

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.

[moantana]

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

[Freemind]

@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.

[sacrotic]

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.

[Freemind]

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.

[earncryp2]

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.

[Freemind]

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.