These days, some friends have become friends and want to know how to buy bitcoin. At this time, Dabai will generally send their own trading platform invitation links to them, let them register and go directly to the trading platform.
However, I don't know if you found out that after the trading platform is registered, you need to upload ID card and other materials for real-name authentication, which is KYC.
1, KYC and its role
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Real-name certification, in technical terms, is called KYC, the full name of Know Your Customer, the simple translation is – understand your customers.
KYC plays a pivotal role in the financial sector. This is also very easy to understand. The essence of finance is based on the cooperation of trust. If the other partner does not know who it is, what will be the trust? At the same time, the implementation of KYC can also protect personal assets, prevent corruption, combat money laundering and terrorist financing.
As the saying goes, "I know you better than your mother, except your partner, and the bank." Hey, your important information is controlled by the bank, so don’t mess around~~
2. Why KYC is also needed in the field of cryptocurrency
For KYC in everyday life, I believe you have become accustomed to it. After coming to the field of cryptocurrency, you might think that this is a "decentralized" and "anonymous" world, then you think too much.
In the early stages of cryptocurrency, it is indeed anonymity, and we still don't know where Bitcoin founder Nakamoto is sacred. However, with the development of cryptocurrency, more and more people with ulterior motives in recent years have used cryptocurrency for illegal fundraising, money laundering, and trafficking of contraband, which has attracted widespread attention.
Therefore, with the joint efforts of governments and financial institutions around the world, the cryptocurrency sector must also implement KYC rules.
3. The risk of KYC
Although KYC can reduce the possibility of users doing evil, but for users, our important information is not in the hands of others. Far from saying that Facebook’s user data leak last year triggered a huge panic.
Completing the KYC of the cryptocurrency trading platform is the first step in the transaction. According to CoinMarketCap data, there are more than 18,000 trading platforms in the world. Think about it, is your KYC data safe on the trading platform?
In a blog titled "Be Careful With Your KYC Documents," the authors found that a team photo of a blockchain project was faked and then found more than 15,000 KYC files on their platform. In such cases, everyone needs to be vigilant.
4. How to ensure the security of KYC data as much as possible
Here, Dabai gives you a few tips to help you maximize your KYC security:
(1) Don't be greedy and cheap, such as "Register to send 0.1ETH" and other news, do not trust;
(2) Selecting a large trading platform and a widely recognized project;
(3) In the KYC data, add a watermark and write a timestamp and other information.
In the sea of cryptocurrency, there are treasures and beasts. You must first protect your own safety before you can reach the other side of wealth.
Do you think the cryptocurrency trading platform should let users complete KYC? why? Welcome to leave a message in the message area.
Author | Listening to the wind | vernacular blockchain (ID: hellobtc)
『Declaration : This series of content is only for the introduction of blockchain science, and does not constitute any investment advice or advice. If there are any errors or omissions, please leave a message. 』