Tax ID for KYC makes me nervous


#1

Am I the only one that finds the idea giving up my SSN a potential deal breaker? I want to trust Electroneum but have been burned many times by alt coin investments in the last year.

Identity theft is something I’d like to avoid for obvious reasons. My identity was confirmed by YOTI. That should be enough for tier 2. Heck, I’d upload utility bills and paystubs no problem, just not my SSN.

If Electroneum was certified or verified by a 1st world nation, that would ease my hesitations also. I’m sure that many people are backing away, not because of KYC, but because of nervousness.


#2

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I’ve done it and so have many others , to me it’s no different going to the bank and opening an account. Yes I’m nervous but if it all goes wrong … Etn will have to put it right.

I trust in this team … more than I trust some of my family hahahhahaha


#3

Sure it’s a risk, but how many other places are out there with your SSN? Any one of them could be hacked at any time. I don’t think this would be any more risky than anywhere else.


#4

Most larger exchanges also require kyc to withdraw so it’s no different.


#5

That’s a great point!


#6

Make money pay tax. Standard Life rules. If this goes where I hope it’s going then it’s only fair. I’m assuming that as a British company ETN has to comply with European directives regarding data protection which are much more private than USA ones. Don’t worry so much.


#7

I’m not trying to avoid tax. I just want to protect my personal information. When major business partnerships are announced and ETN incorporated into other companies I think I’ll have the reassurance I’m looking for.


#8

Does anyone know that there are documents that stipulate KYC cannot be used in Chinese? (Traditional) Is it normal to confirm eight days? thanks !


#9

I thought this was optional. I didn’t provide this and got approved.


#10

Instead of having to verify every ETN account for KYC purposes, the Electroneum team uses Yoti to do all ID checks for them. Yoti on their part, only use the data on your passport, ID, whatever… They scan the data of the document and safe quard all info seperately AND encrypted! They do not store the full document you provide.
Check HERE to see for yourself how they take care of your private docs and use it for identity verification.
Yoti is a very nice and straight forward app to use. I think very clever (and timesaving) for the Electroneum team not having to check every ID, but use a third party like Yoti.