Quote from: asus09 on November 16, 2019, 01:24:22 AM

Quote from: ice098 on November 11, 2019, 04:58:39 PM

Quote from: Natalim on November 11, 2019, 07:08:49 AM

Quote from: Yatsan on November 11, 2019, 06:49:54 AM

Quote from: befriendmywater on November 11, 2019, 04:02:54 AM

Yes, and our information is really valuable to some businesses. Bitmex was also recently condemned for issuing KYC by users to sell to other businesses.
So now providing KYC is really dangerous and we shouldn't do it for a few dollars. Think of the far future and the higher goals.

Trading websites require KYC to maintain their website because that is required by the law. I think our identity is safe on a bigger and legitimate exchange, just like what you said, which is Bitmex. What I don't like is ICO and bounties that are requiring KYC. First of all, they are not proving themselves if they are legitimate or not. And for the user, there's no guarantee that their personal information is safe from those ICO and newly startup crypto business.

This depends on where the business is situated or registered since every country has different approach in crypto but as a trader we should make sure we are in the safe side and those exchange that are regulated by the law is safe but they will surely require KYC as that's the basic requirement for any regulated exchange.

Actually we can choose, there are some exchange that does not require KYC but in case of some trouble, we will surely feel the disadvantage of not complying with the KYC, non KYC is not advisable if you are transacting with big amount of money.

Indeed. They need KYC in order for them to confirm identity. But the thing is I do pass KYC only in the exchanges that I trust, example of it is binance, I trust binance because of their security also in yobit ofcourse. It depends on the situation and purpose whether should I pass my KYC or to avoid it, but I dont want to join campaigns that requires KYC specially if it is only a campaign not a project.

I have Binance exchange account but still not KYC because I just withdrawing under 2 btc on day, for investor have breat 2 btc withdrawing in daily I think better to make KYC and use your valid data for accepting in binance KYC, don't worry with your KYC in binance because they are trusted exchange site market and your data is safety.

With that said. It is a proof that submitting KYC should depend on the website that you are using. KYC is helpful even though you are not exceeding 2 bitcoin per day in withdrawal because it will make your account more secure since you have a proof of ownership to your account because of the identification documents.