Post
Topic
Board Economics
Re: Is KYC benefit to crypto people or not
by
Silberman
on 23/11/2019, 17:16:15 UTC
It is known that the majority of projects are scams, so why do you think that the scammers that are willing to steal your money without any remorse are going to suddenly stop when it comes to stealing your identity? For them this is a great win, they get your money and in the case your investment was small they can sell your full information on the dark web, since KYC was introduced we did not saw a decrease in the number of scams but we saw an increase in the consequences for investors when they choose the wrong ico.

Agree with you, for those who are not aware, there are also syndicates that are stealing your data or information for them to be able to sell it in dark web etc. So, let's be careful with our data and making sure that those KYC required can be trusted, if not and you have a doubt for it, then don't do KYC at all especially if you just doing it for a token that you don't even know if they will have value in the future, or their project hasn't even successful.
This is important if we have even the slightly suspicion that something is wrong with the project in which we want to invest then we should never send our money to those persons and even more importantly never reveal your identity to them, losing your money is already bad enough but at least that is a one time loss but if you lose your identity to them you could be victimized over and over again as they use your identity for all kind of fraudulent activities.