Quote from: Tigorss on March 18, 2018, 03:40:19 AM

Quote from: samcrypto on March 11, 2018, 12:37:04 PM

Im also afraid on KYC because it can really be use into dirty things, but I cant do anything about it because I need to fill it up as one of a requirements in big exchanges. Just be careful on giving your information on any ICO because the risk is high there.

Because it relates to the trust given to the bank, the trust is manifested in the form of secrecy of who buys his valuable letter. Or, in everyday language, banks maintain the confidentiality of information relating to their customers.

Though there are legit ICOs, its worth spending time in analyzing the ICOs who are asking for KYC. This is only the right thing to do before handing over to the respected. We can not escape from being caught by scam ICOs though. Still we can be pro-active and spend time in going through the profiles and background of the companies to make sure yes we can go ahead in handing over our documents for KYC.