Ninjastic
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Board Legal
Re: KYC challenges
by
jakezyrus
on 08/04/2019, 03:43:36 UTC
Quote from: Oilacris on April 03, 2019, 08:56:13 PM
Quote from: imstillthebest on February 17, 2019, 01:27:25 PM
Quote from: Oilacris on February 08, 2019, 10:58:40 PM
Quote from: Snaic on February 08, 2019, 06:09:26 PM
Quote from: ekomic on October 24, 2018, 10:50:41 AM
Please share any recommendations as to how to make kyc( know your customers ) effective!! and probably; is it even needed?
KYC checks should be conducted only for traders with large trading volumes and large investors in ICO projects. For other categories of people it is meaningless. With respect to bounty hunters, KYC checking is generally illegal. It should be used only for the purpose for which it was created - the prevention of money laundering. In any case, it cannot be used on this forum to combat the presence of multiple accounts for some users. Violation of our right to privacy cannot be justified by this.
 In general, KYC verification - this should be a problem of state bodies.
Should really be on this way but all of them do require it generally from big investors to bounty hunters which i can see it meaningless specially for bounters.Why would need such verification if

they are just part of marketing area.Just to tell my recent registration on a unpopular exchange, even withdrawing $50 do already required you to get verified.


I feel you bro . kyc is really a though thing and this is the hottest issue that we are facing nowadays  .  bounty and airdrops should be excluded in kyc's because people dont invest a money on these kind of activities  .   but it is okay if kyc can be included on wallets and exchanges even if the deposit or withdrawal amount isnt really large enough .  that is to avoid fruadsters and other illegal activities   . kyc is for our own good and it is really beneficial  if done properly  .
KYC do have advantage and disadvantage side but we are here on crypto and we know that we are aiming or do give out importance
about anonymity and giving out any personal docs is fully contrary on what we do like here on crypto space but as part of reality we are facing
these services and institutions would really need to comply on whats being asked by the government.

Why would they follow the government ? You already mention that cryptos are anonymous or decentralized , in short its independent .  no government can dictate it .  kyc does not makes no sense to me   .   kyc is only trashing the real purpose of cryptos  .  i dont do kyc and other users should not also do it   .  if no one will do kyc, no bounties/airdrops/ico's will also require it   .   trust me  .