Re: Is KYC benefit to crypto people or not

Quote from: ArIMy11 on March 10, 2020, 01:05:12 PM

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

Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.
Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.
Now KYC is trend in crypto market..... Cheesy

For me, KYC has no benefit to people. In fact, I think it can cause harm to people when their information are in the wrong hand. But of course not all things that requires KYC are bad people. The one that will benefit the most are the people behind the KYC because they will be able to know their customer very well.

I don't like KYC and have no plan to use it anytime soon. However I've been thinking what if crypto companies can only be profitable (at this stage of market growing up) if they sell our data to 3rd party services?
If this is the case, if this is the cost we need to pay to see crypto developing further?
I don't know if I will use it then