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Should services like relai.app and dfx.swiss be listed on kycnot.me?

These services allow users to buy/sell cryptocurrencies for fiat (card/transfer) without KYC under certain limits. However, using a bank account (or card) is considered "soft KYC":

While the service doesn't require a formal KYC process, the bank account used for fiat transfers is typically linked to the user's identity. This allows the bank and the provider to potentially identify the user if needed.

If listed a warning would be displayed informing the user about this issue. Also, a new attribute for services would be set up to reflect this.

KYCNOT.ME 1y ago 💬 4

I find Soft-KYC equally harmful as KYC, if not more so, since it may give a false sense of security to inexperienced users. Although not as direct as traditional KYC, data points such as bank accounts, credit cards or phone numbers can still be used to trace a user's identity, often with minimal effort by authorities or determined third parties.

Thank you for for all your comments. I will maintain the decision not to list such services.

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Discussion

Mynymbox - Privacy friendly hosting solutions 1y ago

There is no Soft KYC like there is no a little bit pregnant. You are pregnant or you are not 😀

KYCNOT.ME 1y ago

Well, it is considered soft because the party that offers the service won't know your identity unless they take action (which they can easily can). There's an extra step for them to get to you. Your bank has the KYC, and the does not, but there's a very easy step to fully identify you if required.

I see more like: I can kill you, or I can break your spine and put you on a wheelchair. Soft KYC is the wheelchair option.

Mynymbox - Privacy friendly hosting solutions 1y ago

They have everything on the bank statement. The only missing thing is a smily photo with the date on a paper.

mister_monster 1y ago

So we have talked about this before elsewhere, but what's the difference between listing this with a disclaimer and listing swap services that sometimes KYC and even sometimes hold funds until KYC? Isn't listing those also giving a false sense of security to inexperienced users?

Not saying this hoping you'll delist them, I think a disclaimer is enough. But, I also think listing someone that sells BTC or XMR for KYC'd fiat payment processor money is perfectly fine with a disclaimer also. And honestly I think it is less risky than listing swap services that hold funds for KYC at random.