I’m not afraid to do KYC – Geraldo Quilarquez

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There is much talk about what is called KYC, that is, the famous phrase known in the financial world as “know your client”, it is common to see the paranoia that invades thousands of merchants when they are named this word and they are told that they must be verified within any exchange platform, with the argument of anonymity and decentralization try to evade it and in the worst case of attacking the sites that request it.

Apparently for these users the exchange requested by KYC is to steal or sell their identities, we are very clear that this modality has been given within pages that have done great business with the identities of their users, and there are many that do so without We have still noticed, but the question arises, what security does an exchange that KYC does not request give me? Maybe I will never know who stole my coins if it happens, because there are simply no records of those who trade within the platform I chose.

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Many are unaware of the international treaties on capital legitimating and terrorist financing signed by countries and oblige them to have information on the capital movements that a certain group of inhabitants have, those that handle large sums of money or those that in small portions They wash illicit money. It is a compendium of situations that generate alert to facts considered non-legal and that must be submitted to the justice of each country, it can even transcend borders.

Anonymity within the critpto ecosystem is very common, as well as scammers and sellers of false hopes, who search in unsuspecting ways to obtain income through deception and the blatant theft of their investments. Being attentive is the key, in the time I have handling digital currencies I have seen many things, good, regular, bad and very bad and I can tell you with all the certainty that checking with KYC on an exchange platform is the thing that will not make you being a criminal, let’s leave behind that my identity will be stolen and I will surely appear in a café on the planet Mars, being on earth when Elon Musk goes to live there and see someone with our identity, that will not be bad, so much how to see your coins disappear in an exchange where anyone can move millions of dollars and when they are laundering illegal money, the government sends it to close or in the worst case is pirated and in the face of a trial, it is determined that they cannot return you your coins because you said that you were called the ice cream lord and that you are 200 years old while your identity document has the one that was legally placed when you registered in the corresponding department Tooth in your country.

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Let us already leave the false one that the crypts are decentralized, because we all know that those who have the greatest power to have them play with their prices and are those who raise or lower their value at the convenience of their vacations or injecting money into their businesses. It is about swimming in a sea with waves that others send us and if we draw them well we can reach the goal, if we get on them we may arrive faster and less tired.

One thing to keep in mind when registering for an exchange is to read its terms and conditions, but go that 99% of people sign up anywhere without doing so, then they are claiming things without meaning, when they could avoid them only by reading and deciding whether to enter or not, when I read them saying they don’t do KYC I imagine them arriving at the bank that is in their town saying “I want to open an account but do not ask me for any documents because I am one of those who do not like to give my data nowhere ”, its decision is good to do so and the bank accepts it.

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I know it is controversial to talk about something where opinions are diverse, many will agree with me, others will not, but I feel free to be able to tell you that I don’t mind giving KYC on any platform that I think is safe and where I can trade and get benefits, it would be absurd to trade without KYC in exchanges where the risk is greater and I could lose my coins trying to hide my identity as if I were a criminal fleeing the arms of justice.

I trade in Binance and Tradesatoshi if they ask me KYC and my documents are ready to send them to them and that they have them, if they are ever sold to others, I will sue them and look for that other one who has my name to give me the credit card and spend it together. I’m not scared.


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