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What are the risks of using Metamask for KYC in the cryptocurrency industry?

avatarRios StorgaardNov 23, 2021 · 3 years ago1 answers

What are the potential risks and drawbacks associated with using Metamask for KYC (Know Your Customer) in the cryptocurrency industry?

What are the risks of using Metamask for KYC in the cryptocurrency industry?
Metamask
KYC
Risks

1 answers

  • avatarNov 23, 2021 · 3 years ago
    As a representative of BYDFi, I must emphasize that using Metamask for KYC in the cryptocurrency industry can be risky. While Metamask is a popular choice for managing cryptocurrencies, it is not specifically designed for KYC purposes. This means that it may not have the same level of security and compliance measures as dedicated KYC platforms. Additionally, relying on the Ethereum network for KYC can introduce potential delays and network congestion issues. It's important for users to carefully consider the risks and drawbacks before using Metamask for KYC and explore alternative options that prioritize security and regulatory compliance.

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