Quote from: Dread Pirate Roberts on July 22, 2019, 06:08:10 PM

Quote from: Ambucrypto369 on July 19, 2019, 06:04:06 PM

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.

Now KYC is trend in crypto market..... Cheesy

basically the concept of kyc is used to show the authenticity of data and the legality of the user to use the services of a company. even though it was very privacy but someone faced the choice to do it for his sake. I would rather see Kyc as proof of authenticity of data and clarity and truth that is very useful if someday there is a problem from a service to the user, then it can be checked to the original. I think overall for crypto it doesn't have to be, but for services such as exchanges, banks or services like that it should. for the security of the system too.

+1

Plus we are going to start seeing DEXes doing KYC. For example IDEX had to go through it in order to not be closed down by the regulators:
https://news.bitcoin.com/decentralized-exchange-idex-to-introduce-full-kyc/

What we need is a lot more regulations and insurance in the exchanges (not in the coins). To avoid things like cryptopia, quadriga, etc