Post
Topic
Board Beginners & Help
Re: Why KYC is extremely dangerous – and useless
by
Shimmiry
on 01/03/2020, 10:56:01 UTC
All of us are afraid of losing money due to hacks, scams, our own mistakes or even bad decisions (buying useless shitcoins, selling coins too late or too early, etc). Most topics cover issues such as these. But when it comes to losses, you should be aware that there’s more than money which can be lost. By this, I’m talking about identity theft of personal data of any kind. Protecting this data and paying attention to privacy should have at least the same priority of protecting your money. After all, money is replaceable; it’s "only" a financial loss. Once identity is stolen, however, there is no chance of its undoing.]

Ever since that I started studying and doing stuffs that are related on cryptocurrencies,  I never been a fan of this Know Your Customer or KYC.  I always have doubts to give any sensitive information to the exchanges or wallets or any other cryptocurrency sites that requires its members to file a KYC form.  If is always better tk remain anonymous. That is why I prefer those that did not require KYCs. On top of that,  it's dangerous to give your personal identity specially if there are money and assets that are involved.