Post
Topic
Board Legal
Re: Why I don't Support KYC in cryptocurrency as it is
by
pinoyden
on 28/07/2018, 23:36:00 UTC
KYC is a very, very bad thing for the customer. KYC is only good for the government. So sad. The only identification one needs in crypto, is a private key, nothing else.  Cool

yes kyc is bad because it causes a lot of hassel . crypto is built to become anonymous , so that people will have a privacy but why will they introduce kyc with it?

I also agree when you said that kyc is only good for governments or for government related purposes such as when applying for a job and you need to get a requirement for your job .
Quote
The only identification one needs in crypto, is a private key, nothing else.  Cool

what about password  and pins ? both of these are also needed in order to access your account aside from private keys . private keys are only  needed for account recovery.