So what’s kyc?
Discussion
"Know your customer"
There's legislation that mandate many businesses require their users to hand over personal info, date of birth, SSN numbers, living addresses, essentially forcing the customer to dox themselves, so the business can operate legally in certain jurisdictions.
Or something like that. I'm sure there is a more eloquent version.
Hmmm so it’s like buying bitcoin legally compared to not buying legally ? Idk sorry to ask
Well... it's more that a lot of the on ramps and exchanges are required to follow those laws depending where they are available.
There's nothing illegal about peer to peer non kyc... it's just that many, due to ease of use, do the kyc option and give companies their personal info. And honestly we've been conditioned to accept this as a normalcy.
Basically companies recording your biometric details in the name of preventing tax evasion and money laundering in an effort to keep you a slave to the government to some degree
Well America 🇺🇸 do what you must I’m moving down south and I pay taxes so do I still need to kyc ? Lol sorry for the questions
If you wanna use a service that requires it, but I’d suggest to look for non-KyC options first and see if those works for you…
We are trading out biometrics for convenience without knowing. Unlike a password you can’t change your biometrics!
