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Do we need to verify our account for these Coins?

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  • Do we need to verify our account for these Coins?

    As many might be aware that when we use payment processors or such options then verification becomes huge thing and is must to work out. I am new to this Coin world and that’s why I am not aware about the process we need to be in for getting these transactions done, so do you think we need to be verifying in order to be able to deal or for doing transactions in these?

  • Aristomenis Kakounis
    replied
    No, there is absolutely no verification required at all. It is the reason for the popularity, as everyone can use it and even people with black money can put it and be at ease because no one can catch them. It’s something that makes these options so vulnerable.

    But obviously there are also benefits for this with newbies able to use it easily without having to worry about too much on verification part which is tough.

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  • Andrey Tolstov
    replied
    I don’t think any such verification is required as far my knowledge. But, we need to be very careful with these things and read the policy because it is something that is going to make all the difference in the world. If we misunderstand these things then we will struggle and will not go anywhere at all. I always keep myself updated with these things and that has kept me in pretty good shape.

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  • Rexcon Khan
    replied
    No verification is not at all mandatory for having accounts for these coins and that's the reason everyone all over the globe is accessible to these coins.

    However, some wallets need verification to hold these coins nowadays due to the rules of those countries and also to protect the users from getting hacked and losing their beloved and valuable coins. So my best opinion is to have verification process for each wallets and coins to accumulate in those wallets in our account to safe guard the security.

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  • Veronica Safronova
    replied
    It’s not needed as of now, but in future, it is highly likely that we will see been a major requirement if no less. I think the major growth for Bitcoin will come when the verification thing is out of the way. It is what will help us with it. But if the verification is kept aside then you will find out that the growth is going to be affected. It is unlikely to grow too far especially if people don’t accept verification.

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  • Chameera Silva
    replied
    As of now as already said by people there is no need for verifying but this is going to change in future, for sure.

    I think it should change because it will only make it stable and all the illegal activities will drop dramatically but this is all easy said than done. I just like BTC to be more stable and this is the only step I see it been possible.

    Leave a comment:


  • Alexander Bukarev
    replied
    No, there is no such requirement for us. We can use it without any verification or anything of that sorts, I believe this is one major reason why newbies find it so good and prefer it. In future this could change as the popularity and the growth is amazing which is making it necessary for the verification and all those sorts of things, but as per now this is not really been required at all.

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  • Francis Fabrizi
    replied
    Yeah, there is no need to verify our wallet or identity to use crypto coins like Bitcoins. The transactions are anonymous which is what makes them quite attractive & unique. You can do all your usual transactions of buying, selling and exchanging without letting your identity known which is not possible with other forms of payments!

    But then this kind of system can be used by criminals too taking advantage of such feature to indulge in crimes!

    Leave a comment:


  • liron adania
    replied
    No, I don’t think we are required to have verification for using it which makes it so attractive. This is also the con that people talk about, but novice this is the ideal setting, as they can simply start up without having to worry about. Also, it’s become major player when it comes to sites like PTC/HYIP and such, as people can do transactions easily without any major worries at all due to such free fall system.

    Leave a comment:


  • Vikas Kiles
    replied
    There is no need for any verification as everything is on a different level as opposed to the usual payment processors. But some Exchanges/Trading Brokers might demand verification from their side and if you still want to use their service, then you need to do verification else not needed!

    Using coins without verification is for hassle-free usage but at the same time this might help the criminals to launder money which might be a different issue!

    Leave a comment:


  • Alan Muzwayine
    replied
    I think verification is harder for Youngers, as obviously many are under 18 and that’s why they can’t verify themselves and for them, it’s fair to say that Bitcoin is blessing in disguise for them. I too believe that it can be good for certain people, but overall you feel very much worried over when doing bigger transactions, so that’s one point that needs to be figured out nicely and it can bring a lot of profits as well.

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  • Papia Khatun Asha
    replied
    I too never worry about verification part of the scene, but it’s just that I hate over the top stuff, as that’s something not necessary. I am talking about stuff like PayPal, as they always trouble us even if we are verified.

    This is all to do with their dispute thing, I don’t like it one bit at all! I strongly believe that we must not waste time over this instead waste on something more serious and sensible.

    Leave a comment:


  • Monika Jurgenfeldt
    replied
    As far I know, it’s fair to say that verification is a really feared word, but I strongly believe this shouldn’t be the way. I believe that we should never ever fear verification especially if we have nothing to hide. I believe due to just lack of awareness, it’s what makes us fear things even when not required. I am always happy if I need to verify myself because this means I am limiting any scams and all such things.

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  • Michael Greenberg
    replied
    It’s obviously not required as there is no such system and that’s what I find very good. But, I think the biggest negative point with this is that we can get scammed quite easily. It’s the reason why some sort of coverage to stop scamming would be just priceless but of course, it’s not possible or is it?

    I will any day love to have verification if it avoids the scam and all the stealing that goes into these things.

    Leave a comment:


  • Francis Fabrizi
    replied
    No there is absolutely no such requirement at all for anyone with these Digital Currencies. I am using Bitcoin and there is no requirement for me to verify the account. It could be said as negative (con), but this can also be good (positive) for some people, so basically just how you see it and that’s how it is going to be. I take very caution approach with dealing with people since I know verification can be harmful for me.

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