Quote from: d3nz on Today at 06:46:52 AM

Quote from: Eternad on Today at 06:19:17 AM

Quote from: yat97 on Today at 05:28:00 AM

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 its the way to determine the people background. Its purpose is to detect any fraud that involves money laundering etc. Its just bad on crypto space since most of the project here doesnt have the capacity to safely store the data of their consumers thats 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.

Yes, this is correct. The only problem that I can see is how they make sure that the information that we have provided is secure and will not be compromised or sell our information to unknown people since it can be used to make crimes or suspicious activities. I guess that some people may not feel comfortable sharing their information and avoiding exchange or other platforms that are required to provide personal information.

What do they do to assure you that your information will not be sold? I don't trust those commitments, we don't know what they're doing with our information. If you accept KYC as a good thing, it is like agreeing to let the government control and regulate the market, then we will lose our freedom completely.

I also don't like KYC very much because, to tell the truth, in my country, even banks sell customer information, I am often bothered by real estate, forex, and securities organizations. But I can't stop using banks, nor centralized exchanges, because I also trade often, being a trader with almost no options. In general, we have to accept privacy trade-offs when using centralized services, and that is up to each person.