Post
Topic
Board Economics
Re: Is KYC benefit to crypto people or not
by
cutesgirl
on 07/11/2019, 01:36:43 UTC
KYC and BTC are diametrically opposed concepts. One advocates privacy and non-stalking, while the other aims to reach out publicly to their credentials. Yes, you can use BTC without KYC, but most bounties or similar charities will be abused because KYC is a requirement.

They do KYC was because they need to know their customer and also to know if the person was the same as other person who participant in the bounty campaign. From privacy, it was okay because sometimes the manager will be the want who need the info and for that, there are a lot of people who do KYC too so it was like Facebook account information only and not all of your information in life.
Need KYC to know with costumer data to avoid from hacked and use account for wrong way, almost exchange market needed KYC for withdrawal with higher amount and Bittrex exchange market not allowing for withdraw if not pass KYC, KYC have benefit to protect costumer account from hacker and to keep investor not from allowing country investing with bitcoin and altcoin.