Is it safe to give KYC?

A. KYC process is completely safe and is carried out by authorized representatives who have undergone thorough background verification and intensive training.

Is it safe to do KYC on Coinswitch?

Know Your Customer Requirements: We are committed to protecting our Users from fraud, scam and other such financial crimes on the Platform. In order to prevent such activities, it is necessary to take measures to verify the identity of the customer and the authenticity of the transactions.

Is it safe to do KYC in WazirX Quora?

Yes, It is 100\% safe. I am personally using WazirX since January 2021. I did not face any single problem with trading, investing, KYC, payment deposit, payment withdrawal, other crypto deposits, withdrawal, and overall. It is one of the best exchanges in India in my opinion.

What happens if I dont update KYC?

The RBI has asked banks not to freeze the bank accounts till December 31, 2021, if the KYC has not been updated. Further, in relief for the State Bank of India (SBI) account holders, the bank has allowed account holders to send the KYC documents even by post or through registered email for updation of their account.

Do I need KYC for CoinDCX?

Without KYC – You can only trade (deposit + withdraw) up to 4 BTC per day…

Can CoinSwitch Kuber be hacked?

As opposed to other centralized exchanges like Binance or Coinbase Pro, CoinSwitch does not custody user funds. They do not have a wallet address and they do not store crypto on their platform. Because of that there is nothing for a hacker to steal.

Should you use KYC?

The point of KYC is to confirm that a customer is who they claim to be and to prevent illegal activities, such as money laundering, funding terrorism, and tax evasion. If a crypto exchange doesn’t perform KYC, then it could be liable for those kinds of illegal activities.