Post
Topic
Board Bitcoin Discussion
Re: Is kyc verification dangerous?
by
Eternad
on 11/03/2023, 06:19:17 UTC
This is why people here stress you should buy bitcoin without KYC. Privacy is essential!

KYC is bad and should be avoided at all costs.

At very least, XMR swap, or mix your coins!

KYC is not bad because it’s the way to determine the people background. It’s purpose is to detect any fraud that involves money laundering etc. It’s just bad on crypto space since most of the project here doesn’t have the capacity to safely store the data of their consumers that’s why undergoing KYC on crypto projects is dangerous but KYC purposes itself is good if you are a law abiding citizen since your privacy is safe if the company handling it is license and trusted due to the confidentiality clause for the KYC procedure.