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Re: Is KYC benefit to crypto people or not
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on 17/10/2019, 23:31:16 UTC
Quote from: Thanasis on July 19, 2019, 06:15:17 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
Kyc not needed for using crypto currencies but you may need them for buying crypto currencies a lot which I think indeed to stop people from money launder their black money apart from this no other advantages we can get but lot of disadvantages by having KYC like our details are in hands of someone which can be used for anything if they want.
By having KYC our document details data are in hand of exchange website or ICO project, what they do at the future with our document we don't know, will use for bad thing or not. Investing money in bitcoin not needed KYC if we buy with exchange market have limited withdrawal but we need KYC when selling bitcoin cash out with money, you can withdraw without KYC your data by convert your bitcoin with other digital currencies like PayPal or you can use Perfect Money for cashing out your bitcoin.