Quote from: Farma on November 26, 2019, 08:20:44 AM

Quote from: LUCKMCFLY on November 25, 2019, 11:30:07 PM

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

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Currently I do not see any advantage to do KYC, the idea of this is decentralization and maintain anonymity, the tendency of governments and banks has always been to end anonymity for them to have control.

The only advantage of KYC that I see is for the ICO, IEO projects, which is taken as a protection measure to avoid scams that have fallen so much some investors, however there is the latent risk of using that data for other purposes or worse still sell them .

the benefits of KYC are aimed at developers of the exchanger, ICO, or IEO. however, before there was a sales system like that, KYC was not needed. besides KYC is only used to obey government regulations, but some projects do it to avoid scammers.
in general, KYC is used for such things, but many investors do not want to do that, so KYC can only be seen as beneficial from the developer's point of view.

yes, they make excuses to take our KYC and sell it to businesses that need it and make a lot of extra money. This is the policy that new projects often mention because they want to consolidate part of the costs for businesses. Of course, providing your personal information to such organizations is completely not good and they can do anything with your information. so limit your KYC supply to developing projects. You should only provide KYC at exchanges holding lots of your money to ensure your assets are okay.