Bitcoin Forum

The requirement to pass the KYC (know-your-customer) test from the ICO companies is really a big problem both for investors in ICO campaigns and start-ups.


Some people (contributors) don't like to leave personal information to start-ups. What about you?
Would you participate in ICO if you like the project but your personal info is required? Please vote.


This poll will help ICOs to decide what should they do with this issue: apply KYC/AML and get lower rate of contributors or don't apply and get more contributors.

P.S. those who vote "No" should know that application of KYC/AML will help the project to avoid legal issues in the future and as a result increase token price (or at least not decrease it).

If the project doesn't look like a scam and has a great potential I would contribute even if my passport photo/selfie is required.

The KYC process is the only way Datum can check the source of funds raised during the token sale, and we do so by verifying each buyer’s identity and residency. This is something that isn’t only required by governments and regulators, but also by the banks, large corporations, and public bodies we’re bringing into the data trading market that is the Datum Network.

We spent a lot of time debating the pros and cons of KYC. If we want to interact with other partners in the industry, however, we really have no choice. We analyzed and evaluated numerous third-party KYC providers. None of these passed muster. In some cases, the providers wanted to send your documents halfway around the world to a call center where other people would then review your information. Since this isn’t nearly enough protection for something so sensitive, we decided to implement the Know Your Customer process ourselves. It’s the only way we can know exactly who’s handling these documents and make sure the information is used only for the specific purpose of the Datum token sale.

with the existence of the kyc program altcoin that we have will be more secure and more secure to invest our money in the ico.

Since, the cryptocurrencies has gone mainstream, governments are trying their best to keep an account of the investors and traders. This at one hand is completely against the idea of cryptocurrencies, but on the other hand, helps in tackling the problem of money laundering and illegal activities and thus, providing protection to the investors. Thus, KYC by the ICOs isn't a wrong thing. It is dependent upon the investor whether he wants to go through the process or not. But nowadays, cryptocurrencies aren't that anonymous since government has all the data from the exchanges who requires trader to go through KYC process. So, if you aren't much concerned about revealing your identity, participating in such ICO isn't a big deal.

Providing your personal data to someone online who hasn't even launched yet is not only risky but foolish. With the amount of hacks happening I don't think people realize what happens if their personal data gets hacked and sold on dark net markets.

No, I am not interested to participate in ICOs that require KYC. I don't want to send my personal details to get some stakes. I am concerned about safety of information.

Please vote (choose "no" above )

I also concerned about my personal data. At least if I see that KYC required in description, I can skip that ICO. But also I've seen ICOs which have weird strategy: you invest and after that you suddenly got news, that you have to proceed with KYC.

I voted YES because I did participate before on some ICO which requires KYC approval but it still depends on the ICO. If it has a promising future and it offers something new, I would definiteky participate regardless if it haw KYC approvak or not because I know that I will surely profit from it. If the ICO is not promising, I wouldn't give a damn thing about it whether there's no KYC approval or even if it offers a huge discount.

Why should I give sensitive data to somewhere that I dont know. And, I dont want my Identity use for Break the Law or False Usage!
Crypto made for Anonimity, so KYC will broke it. Except, the project are competent and promise destroy KYC ASAP after they receive it.

Nope, nor would I even participate in a signature campaign if they wanted my doc.  And for some people,their reasons might be to avoid the tax man, but for me it's because I don't trust the folks who run ICOs--and I definitely don't know them and don't know what they plan to do with my information. 

Crypto is infested with crooks, so it pays to be a little paranoid.

Without knowing (because it wasn`t stated anywhere) I participated in two campaigns that at the end required KYC. I felt somehow cheated and decided to skip it and lose my deserved tokens (I also skipped Polymath airdrop wich was worth more than $250). This KYC procedure doesn`t offer any protection to the investors, so I don`t really understand why are people so willing to give their sensitive info over the net to some new companies - how can we so easily forget that many reputable companies databases were hacked over time? Also, with that many ICO`s failing, what will happen with our data after an ICO project is abandoned or if there is a scam project? By the way, since in my country the taxes on crypto gains are quite acceptable (10%), I don`t think it`s worth the effort to hide something, so I`m not avoiding KYC just to stay under the radar.

In my opinion, KYC is good for ICO, but bad for investors.
This advantage belongs to hackers with an additional award - the reward is the data of tens of thousands of investors.
As an investor, I do not want my personal data to be leaked.

Not sure about that because of the fact that thousands of people are still interested to fill the KYC form to participate in the ico.

I'd liked to participate in the ico that applied KYC verification but that must have completed all of my personal requirements to be included as a promising project. How dumb those are following random ico but filled KYC form.

At least the promising project with the trustable developer can minimize the risk.

It depends on where will i submit the form, but as much as possible no KYC because i want to by anonymous, also to be safe for identity theft or fraud.

I'm willing to participate in projects that use KYC because I feel that if there is a problem later on the risk will be able to help us solve the problem better.

This cannot be a serious response.  Your willing to have your identity stolen to help fix those types of issues in the future?  Good lord who are these people?

In those projects where it is required to pass KYC, I provide a driver's license. I believe that this is the most secure, as scammers are unlikely to be able to use this document for other purposes.

Voted no,if the ICO has been requiring to send my passport,i wont because it could be used into identity frauds and illegal actitivities,many of the cindicates are in the deepweb and it could be use against you,dont want to risk my privacy just for the opportunity that an ICO has to offer? why not buy these coins after they got listed in the exchange?

I am personally not in favor of KYC for ICO projects, but I do recognize that it's required by governments in some cases.

Given that, I believe a better KYC system needs to be put in to use by everyone.  It has to balance the legal requirements that the business has with the privacy interests of the customers.  There's methods to explore to accomplish this and I plan on working on announcing a working group to focus on this issue once I can.

I remain concerned about U.S. regulators and am planning a trip to DC to sit down with lawmakers and regulators to articulate the different considerations that are necessary with respect to KYC in ICO/ITO offerings.  I'm looking at how stock exchanges perform IPO's and the personal information that is exchanged with the public company is not much, and it's done through their stock exchange.  There is no advance KYC for IPOs except for private offerings.

Lots of things to work on.  But my view is if we don't come to some consensus on how to handle these things, the (legacy) financial services lobby will make it come out in their favor.  I am opposed to extensive regulation that will slow the pace of innovation and maintain large bank's grip over finance.

Best regards,
Ben

I would agree with the kyc if the purpose is to avoid money laundering but may have a contract that personal data will not be sold to call centers or any institutions. Except for passport, drivers license is sufficient to accept. ICO is also better off with its own kyc from previous investment or from its partnership, so not only the investors will be identified but the
ICO itself, you can prove legitimate.

Hello no I wont give up my information to be later sold on the dark web.

They cannot protect your data.  Even the most advanced security systems get hacked.  Every time you send it your taking that chance.  

No vote here.  

One thing to note.

99% of the time the price falls to the ICO price after a few weeks.  Just wait until then to buy it.  

Also if everyone shuns this activity and does not participate it will go away all on it's own.  You guys are giving up everything by participating.  From the movement of crypto all the way down to your personal security.

I go for No. But it is up to what kind of KYC is that. If they want selfie from me that's abosulately no. If they have soft KYC it can be.

Of course you do not give away your personal information.  The ICO price always crashes and you buy then.  Simple.  Never ever give a passport and a selfie to a stranger.  You guys get the fomo so hard you give up that type of info over the internet? 

Once you guys stop support those projects you do realize KYC will go away right? 

You can use fake data (passport and etc). There is no problem if you see problem.

I voted yes since I'm participating in such projects where verification of the KYC is required. The company that conducts ICO establishes own rules which I follow if I want to invest in their project. If you don't want it - it's your choice.

Crypto should be private and anonymous, the only people that should prove themselves are those that are running the ICOS.

me to, vote no ! beware with KYC verification guys. go to other ICO with no KYC verification required. your personal data is more important than everything guys. there are many ICO with no KYC verification guys.

I haven't taken part in ICO yet but I plan to do it.
I will think KYC requiring ICO over very cautiously. Most likely I won't take part in it.
Only if such project has a very firm background (e.g. MVP, working product, realty object) I will possibly take part in it.

its depends on what kin of ICO project,, if the project make me interested,
i will contribute with KYC procedure my friend
regards

oh HECK NO!   I can't vote, maybe because I'm new, or, because i just can't figure it out...  If I could vote though, it would definitely go to NO.  There isn't a chance in you know where that I will send any personal data or pictures over the internet.  Why would a company need to have my passport to identify me?!!?!?  Nope, KYC is for the suckers.  I can see it now, months from now, there will be a bunch of people somewhere complaining about how their Driver license and passport info has been compromised.  Well no kidding fools, you sent to to these companies for their KYC process.  Then, one of that companies employees decides they don't like working there, or, just have beef with life in general, and they decide to steal, borrow, leak the KYC info that they had access to out.    Yea, I'll avoid that part of this process as crypto grows.

Glad to see a majority of us value personal privacy and won't submit documents over the internet and risk private security. 

Also enjoy seeing all the potential money the KYC projects lost by dragging people through that process.  Keep strong guys!

.gov must have a 3rd world call center transitioned over to try to convince us KYC is ok.

The post above me cannot even be from a real human being.  Could you imagine navigating through life being this person if they are indeed sincere.  Just wow. 

Please vote (choose "no" above the topic name)

I do detailed research before investing, Ones I discover it is a viable ICO and not a scam team, I do not have problem with KYC , as it is part of  a way to avoid cheaters in the a ICO .

This is a total lie.  It depends who you give the data to.  Give it to a government official.  Then yeah.  Handing it over to a project or kyc compnay is good to go.

Your more likely to get into trouble from .gov handing over your identification to everyone on the internet which in turn gives the real data to the criminals.  

By the way very few people are unintelligent enough to send their most personal of documents over the internet.  These supporters of KYC are most likely the scammers themselves trying to get you to throw your passports at them so they can be sold on the dark web.    Think about it.  Who would be out here promoting they submitted to authority, sold out the crypto movement by jeopardizing privacy (one of the key factors), and did it all for money and lambos.  Don't buy into it and keep yourself secure.  You can almost always buy it for ICO price a few weeks later.

Personally I prefer bounty without KYC because there are no extra actions to upload documents, photo and etc. KYC takes extra time of investors and bounty hunters

I participate in such ICO, but I am very concerned about the safety of my confidential data. After all, when filling out KIC have to specify a lot of personal data, and who and how to ensure their safety is not known.

I would never submit my documents like that to unknown parties and never over the internet.  People have died to not have to show this information.  Maybe  we should not willingly give our information for greed and money.  My answer is clearly no as history proves that it is never a good idea to sacrifice your privacy and safety.  Especially for little colored pieces of paper. 

I would not participate for sure. I understand that the KYC is used to verify the identity of investors, but somehow I'm not cool with this yet. Cryptocurrency is still in its infancy and a lot of things have to be done to put the industry in the right perspective. Perhaps a better way can be devised or this KYC thing can wait until the industry matures.

My Vote is for NO.  I'm very surprised of the amount of people that have no problem at all sending their personal data online.  Some have even mentioned that they prefer it, because it makes them feel like it's less "scammy".  Well damn, even the good ones can be scams.  So, unless your some sort of personal investigator, I doubt everyone is going to become Sherlock Holmes and figure each scam out.  In the meantime, each time you send one of these documents back and forth, you take the risk that someone that you weren't intending on giving it to or seeing it can get a hold of it.  Take it from someone who has their identity stolen once, it is not fun.  It takes years to recover from.  My information was literally stolen, and it has caused so much ruin.  Then I come here and see people lining up to just give away their information freely.  It's insanity!  Maybe not all of you, but some of you who have decided to join KYC processes may realize just how big of a mistake this was down the road.  Just takes one scumbag to get a hold of your information, then it takes you hours, days, years of hard work to get your info back in line....   just my opinion of course.

I can't believe 15 people voted yes.  Next week they will be here with the topic  "Why is my passport on the dark web?"

Meanwhile half of us sent in fake id's and the other half bought 2 weeks later for ICO price instead of handing over our passports.  

Of course I'll join an ICO project that requires KYC but it must be a truthworthy project cause I don't want my profile to be leaked out and sold for criminal activity. For now, as I know almost ICO project also require KYC so it's really hard to find out an ICO project that don't require KYC to participate in. But it'll be very terrible if anyone don't have much experience and join a scam ICO project that requires KYC

This cant be worked around.

Basically, if ICo does not ask for KYC this is very suspicious and you should think twice about this ICO.
Evry responsible ICO management understands that they can get in big trouble if KYC is not done nad kYC is not the problem if it is done by know and reputable KYC company,

KYC only needs to verifiy if you are residing in the U.S because SEC strictly prohibits the participation of any u.s citizens with these scammy ICOs,SEC see these ICOs as potential scams that is why they are just protecting their citizens from these things,investments should always be regulated so that there will be less scammers,but ICOs are decentralized that is why the SEC cannot oppose that.

regardless of what kind of project. But more often yes, since there are fewer participants in such projects, it makes payments large. Do you agree?

Remember the thread that said "When will crypto die?" 

It dies when we all give over the privacy we were starting to take back with the blockchain technology.  Now the blockchain will truly be a chain around our necks.  Bankers always win.

Nope.  Not happening.

Any crypto selling out and killing off privacy will never make it in the long run.  The only reason someone would choose crypto over traditional methods is for privacy.  Bankers/corporations got this shit on lock in almost all other aspects.  Crypto lives and dies with privacy.

I have a different opinion. On the one hand, if a very promising project, then of course you want to participate in it. On the other hand ... what anonymity it is if I need to give all the information about myself. I certainly understand that this is not a whim of the developers, but the requirements of the regulatory bodies. They are enraged that they do not eat from this trough.

Nope ICOs today sucks,most of the ICOs that are failing are having these verifications people doesnt want to risk their privacy and private informations to these people,because we can just buy these coins or tokens after they are listed in some exchanges,that wont risk any of our private and personal information because these informations can be sold and use to criminal offenses.

I dont want to give any personal information with these people,because it might be sold to the deepweb and could be use into some illegal activities,but it is really depends on you,but for me it isnt an option because the reason why i am using cryptocurrency is for my own protection while transacting online and privacy for me is a must.

I avoid such an ICO. But in some cases they require to fill out KYC after the end of the bounty. This is unpleasant, since there is a manipulation of regret about the time spent.

Why would someone ever send in your information online?  It can never be fully secured.  Even the highest levels of government are hacked and betrayed from within.  Your data is in no way shape or form safe with these projects or kyc companies.  You guys live very risky lives.  

Huge crime takes place and they leave a copy of your passport at the scene.  What are your going to tell the authorities?  Yeah I send my passport over the internet all the time?  It is probably more illegal to freely give out your passport to anyone who asks than it is to photoshop something up real quick off a real passport (you can probably buy one of the posters above me saying hell yeah I give that bad boy to anyone who asks) and send that in to these BS KYC companies.  They are not government officials.  Most are selling your data on the back end to boot.  

Next up.  We all know the guy on the boards crying "I was hacked and don't know how".  I do.  You gave all your information up and gave the criminals key information about yourself.  Prob even took a selfie.  Now your what they call a mark.  The more they know about you the easier it is to steal from you.  They know where you live, what you look like and even got a nice close up of your mug with that fancy selfie.  

Funny thing is the price of the coin is under the ico price and you didn't have to give any of that up!!!  

 No,not all the peoplea are going to risk their identity information especially when these ICO developers will sell our informations in the deepweb,the darkweb has full of cindicates that are collecting and buying critical informations about people and it could be used to illegal activities such as buying or selling drugs,guns and other stuffs that is why i will just wait these projects to be listed in exchanges so that i wont risk any of my personal informations.

We shouldnt be risking our personal and critical informations with these ICOs,only those U.S citizens should get these KYCs because in most of the countries there are no existing regulations like in the U.S that is why it isnt really necessary to have these KYC bullshit,they just want to collect datas from the people that could be sold in the dark web,so it a big NO!

I believe that KYC is not a hindrance to investing in a good project. I don't see nothing wrong to send your documents.

Too risky,and i wont put my personal informations into the hands of these unknown people as far as i know KYC will only be required if the ICO is residing inside the U.S premises,that makes these ICOs scammy because not all the KYC should be required to have KYC verifications.I wont risk my personal information instead i will just wait these projects to get listed in the exchanges.

This is a huge point.  99% of the time it's not required by the country.  They are simply scamming you for you information!

You can send them just your driving license, is it a problem for you?
Sending passport scans is quite risky,I agree,but what about driving license,what can they do with it?

Bloody NO! i dont really like sending my IDs to these people because i dont know who they are or how will they use these informations to some activities,especially when they have started selling these database to the deepweb,it could be the reason why we will face a lot of criminal offenses in the future because our informations has been used to some illegal activities.

better to be safe than sorry.

Um use it to sign up for ICO's? 

There was some guy the other day bitching about how someone used his ID before he did for an ICO.  The hackers are hopefully culling the weak for us.  The guys who do not value privacy are like a canker sore on crypto. 

No way.  Look at these results.  2:1 in favor of no way to KYC.

The project that respects our privacy will outperform over time due to the numbers off people not supporting the KYC projects.  More people means higher price and more project support.  

Imagine the risk of holding a token which did KYC and one day that data is breached.  That token is going down.  Counter party risk.  No thanks

Dont need to do that,risking your informations could cause a lot of problems because it might be sold by these people.We should wait for these projects to be listed to the exchanges so that we wont need to submit any personal informations to these people.Privacy and anonimity of transactions are the reasons why i have invested to bitcoin and cryptocurrencies few years ago.

this of course risky, better perhaps to send driver's license

There are no assurance on the security of the personal information submitted most times, we only work with the fact that the registration is necessary. Have seen cases where the information is used in the phishing mail with all the personnal details submitted. information beyond necessary security risk should not be submitted irrespective of how prospective the ICO is. Every ICO that divulge information after providing the assurance of safety of personal details should be prosecuted.

I have already did. And i certainly wouldn't mind doing it again if it's the only way to get my hard earned tokens to finally reflect in my wallet.

I honestly rather disagree if we are asked to provide our personal data when we want to follow ico because I think our personal data is very likely misused by others for their personal interests

These requirements are normal as I could understand that. Anonymity is not always so good. Of course, I will make good investigation about the ICO and if it deserves, for me it is not a big problem to go through the KYC/AML- procedure. But of coarse without any expirience or in some unpredictable cases the data can be exposed. But this is the price for the great potential and grow.

I also participate in projects that use the KYC system, but I do not agree with the KYC system. Because participation in a project does not require an accurate data system. Trading cryptocurrency passes the blockchain system to avoid fraud. So in my opinion, the KYC system is not very important, and can be eliminated.

Put me down for a no.  It's simple common sense to not send your documents over the internet.  There are bunches of stories right here on these boards of people having their identities stolen.

I would love to know the nationality of the people sending these in.  I wonder if it is region specific or cultural.  Over on my side doing a govt issues document over the internet is a big no no.  

I really don't like to provide my personal data to someone - i think nobody doesn't. But much more i don't like to give information about my adress, this is more dangerous. Some projects want us to send the scan of info about registration address. I'm not sure what they are gonna do with this info.

Am not going to send my details with these people because it can be use to some identity fraud or scams and you might face a lot of problems in the future.IDs and other personal informations should be private so that our privacy wont be compromised,protect your informations just like protecting your private keys so that there wont be much problem in the future.

You can wait for these projects to be listed in the exchanges so that you wont need to send your IDs to get these coins.

No, I don't take this risk, and I avoid participating in such ICO projects asking for KYC. The main attractive feature of crypto currencies in general is that they are decentralized and anonymous, if we have to give out our data and ID documents I dont see a great difference between such projects and forex or trading fiat currencies.

I think this is waiting for all projects. KYC will become an indispensable necessity for everyone and we are waiting for regulation by the government

many great projects require KYC. it's not a big deal. it's just their way to check people and their intentions. so if you don't have something to hide, just do what is required.

Not a very good idea since there are some cases that these KYC participants seen their IDs that has been sold in the deepweb,it could more dangerous and risky because these informations can be used to illegal activities and frauds ,because in the deepweb the worst people will use your informations to some crimes,do not let anyone to get your informations stay safe and alert.

Depends what ICO project it is. If it's worth it, I think we can verify our identity. Is ICO, where the first does not need verification, and after ICO the company of her please.

Hello no,this could be so risky because everthing can be different when our informations got into wrong hands,especially those people who will use informations to some illegal activities,or worst in fraudulent and scam activities and you will be just surprised you are in the news and you have a lot of criminal cases that you will face in the legal court.

it definitely discourages me from participating.

if an ICO requires your personal data, then it just means that there is more of a risk for your data to be stolen. Also since you know that other people will probably also not invest due to this, you'd think that the potential for the price to rise from ICO prices is lower.

But of course, if it's a good project, and you are willing to provide your ID, nobody says you can't participate either.

If you do proper research before investing in something that requires a KYC you won't risk any identity fraud. The problem starts when you start giving out your passport left and right to every single ICO available without research into everything about the project.

About your last question, the reason that it's not smart to wait to get the tokens from the exchange is because the best ICOs, when publicly tradeable will start with a minimum x3 of the ICO price and you'll end up losing potential profits if you would have just invested during the ICO.

No,hell no because it could be use to some illegal activities,when our IDs were sold to the deepweb.I am just looking to the posibilities because security is the most important here in cryptocurrencies,IDs and personal informations should be protected too just like what private keys because it could be use to some fraudulent activities by these greedy people.

Why would you join an ICO which you wont hold for a long time? it isnt always for the money sometimes you need to wait few more months to see the difference when you are sold your tokens right after the coin has been listed to exchanges,i dont usually do that dumping when i see potentials to the project because the reason why i am joining these ICOs is to get those cheaper coins to maximize my profits in just few months of holding.

I dont usually join ICOs,but as far as i can see these KYC verifications isnt worth the risk the risk of getting yourself in trouble is higher than the benefits of this to yourself.Sometimes you need to do something that oppose your decisions,but in this case i dont se the point of having these verifications because you could just wait for these project to be listed in exchanges if you really want to get those coins.

No,i dont it is worth the risk,because it could be use to some activities online and i dont think you will be safe if most of the cindicates has your information for example thieves have bought your IDs in the darkweb,and they know your exact address,you could be targeted as they know you have money to invest with these ICOs,did you understand that risk now?

I dont think it will be good to participate these verifications because it would risk your identity and personal informations,you could just wait for the project to be listed in some exchanges,then wait those bounty hunters and investors to dump these coins so that you can get these coins below the ICO price and still your privacy wont be compromised.

Not going to risk my identity to these people,because we wont know what will happen to in the future our IDs can be used to some criminal acitivities in the internet,it is better to wait for these projects to be listed in exchanges so that we wont risk our IDs and privacy,do not trust anyone online because it isnt worth the risk.

No,because i dont want my personal informations be used to some criminal activities,these people can easily sold these informations in the deepweb and we wont know what will happen after our IDs were bought by those cindicates especially those fraudsters who will try to use our identities into some fraudulent attempts.

I dont want to risk my privacy by sending my personal information and identification card just to get these tokens,because i can easily wait for these projects to get listed in some exchanges and wait for these bounty hunters and ICO hunters to dump those tokens and well i can easily bought it below the ICO price? isnt that easy? safe than sending your IDs that could be sold in the deepweb by these people?

in contrast to your thinking that KYC aims to protect us as investors. Because we get token legally and get security guarantee. Bounty hunter is also an investor because they work and get tokens to trade. KYC is also a threat to fraudsters in this forum they can not hire their multiple accounts.

Hell No! these verifications shouldnt be tolerated because we are a decentralized community and we should stay the same,it is like monitoring our identity,do not send any information about yourself,use fake ID if you can so that your informations will be safe even if these people sold it in the darkweb.

What bounties are you the manager of? Promote yourself.  There are people out here who will follow and participate and also hire you based off that stance.  Get out there and get us some bounties with a manager that thinks like us!!!

Amazes me that people think it would be a good idea to send people this delicate information.  The most likely spot for the breech is a rogue employee making off with it.  I assume that's how most of these passports and ID's are getting out to the dark web.  Once they have this information your in big trouble.  Just waiting for the shoe to drop.  Please guys fake the id.  it is much much safer.

For now almost all ICO projects request KYC procedure. Another way to invest without KYC is participation in private presale pools.

It is very easy to create fake IDs just like the fake accounts. Check google playstore from any android phone and you will see at least 20 different apps that will let you create fake virtual IDs. So a person creating fake accounts can also use those apps and create fake IDs to participate in ICOs. However, from my experience with ICO bounties, I have seen companies are not asking bounty hunters to provide their identity (at least a majority of them), so we bounty hunters are safe as of now.

I have created a topic long back on the same issue and also mentioned three pointers of the concerns. Do visit and share your opinion as well.

https://bitcointalk.org/index.php?topic=2946614.40

Thanks,
Avikz

is it not required in such private pools to provide ICO start-up with your personal info (if you are investor)?

I would participate in such an ICO but only if I think that ICo is gonna be awesome
There is no point in such problems and paying so much efforts if the project is meh

In general, I would avoid participating in ICOs that require KYC ( know your customer). However, if the project is very good and offer very good stakes then it can be considered.

For the most of ICo my answer is "no" just because there is no use for that people in that information. Why does they want to have my passport copies? How does it helps them?

Some have to document those details. But that selfie thing is too much and contains many risks I think.

No.  I do not support all of these organizations trying to track and spy on everyone.  Privacy is very important to the crypto dream.

Honestly speaking I don't have any issue to participate in ICO that requires KYC but project should be legit or seems to be promising. Personally I feel if any company asking for your Kyc then there is more chance that project is legit and secured to invest. I agree many big investors doesn't want to provide their details if you are ready to pay the taxes then its not a big issue to give your personal details otherwise majority of peoples doesn't want to give their personal details but crypto concept is basically anonymous based.

I submit my documents to participate in ICO. Probably soon there will be a safer way to confirm your identity. But so far this has not happened. My country is banned in many ICOs. And there remain those who allow my country to participate but require  KYC. I have no choice. If you do not submit documents, you should almost completely refuse to participate in ICO. But I'm not ready for this yet.

I mainly participate in ICO campaigns as a signatory campaign participant. If I see in the context of joining the ICO campaign that they do not exclude the further conduct of the KYC check, then whatever the campaign and the token issued by it are, this is a purely I do not adhere to such an ICO campaign. If such a claim is made after the completion of the ICO before the payment of the earned tokens, then there is no choice and I provide my personal information and a copy of my passport. However, in this case, I consider such actions on the part of the ICO team as fraud, since they are already conducted with the goal of not paying the earned tokens.

I wont risk my privact just to get good discount with these tokens,IDs could be sold or stolen from these people and use it to some theft that is the worst thing that i will do,no way i wont send my IDs to these people because everything could happen and we should be vigillant because it could be the reason why we would have some problems in the future.

Not an option because it could be the reason we will have bigger problems in the future,these critical and personal informatios shouldnt be given to these people because first,we dont know them and it could be sold to the deepweb which will be a bigger problem fraudsters can easily use these informations agains us to it isnt an option for me,we can get these tokens in echanges.

Not a good idea,because these IDS might be used to identity thefts,and it will be a bigger problem to solve when your identity is stolen and used into criminal activities especially frauds,these people can easily use these informations to your banks,getting all your funds out from your banks would you want to have the same faith like others?

No because informations shouldnt be given to these uknown people that can use these critical personal informations to frauds,i wont risk my privacy to only get those token's discount.I will just wait for these projects to get listed on exchanges and wait these bounty hunters and ICO hunters to dump those tokens so that i can get these tokens below the ICO price.,easy!

Too much risk and the rewards are too small,not a good idea because your informations might be sold to someone else or worst to the fraudsters in the deepweb,it could be the reason why your identity will be put in danger why are we going to participate these verifications if we can just gt those tokens when its available in exchanges?

I must be very sure in reliability of that ICO.
I'll think it over many times before joining. Frankly I don't like the idea of giving my identity data to an unknown virtual company.

No , I would never give out my personal information out to any ICO . There are lot of scam ico's so be careful and don't give out to ur info to anyone .

KYC completely opposes the Cypherpunk Ideology.


https://w2.eff.org/Privacy/Crypto/Crypto_misc/cypherpunk.manifesto

A good opinion, there is always a way to make a fraud even if KYC is applied.
Let's think of the positive impact of KYC implementation, it is unfair to see this as a violation of the principle of decentralization and anonymous crypto / ICO.
BTW a very interesting topic and I have read it.

Yes. I join the icos that requires my personal data. Because the good project want to legal in funding, they want to do a real project, so they do things legal and require a knc to founder.

I understand that the majority of us, ICO investors, do not like the new mechanism installed in several ICOs right now. This KYC/AML addition has been received by ICO investors with frowning faces. However, I think I personally do not have any concern against this. For me, at least my personal take on this, this is not something that will put our information in jeopardy. On the contrary, this is for our safety to a certain extent. It would be bad for cryptocurrency in general if ICOs will be used by lawless elements to make money and use the same to terrorize us in any way possible. ICO is a great source of money that is why projects need to know the particular individuals that joined their ICOs.

Unfortuantely, KYC/AML is required...even for our ICO.

ICO website: https://rao.radioyo.fm
Product website: https://radioyo.fm







https://imagizer.imageshack.com/v2/640x480q90/924/83FoS8.jpg (https://imageshack.com/i/po83FoS8j)

NO, it is better to be careful with my personal information since personal things has to be kept within one's self.
Technology has grown so much these days that the internet can now see your personals staffs. People who has high education with internet that use their knowledge into something bad is what im avoiding.
What im talking about is scammers. Be as well be careful with them.

As poll results show most of people (almost 70%) would not participate in ICO if it requires KYC/AML;

But those who vote "No" should know that application of KYC/AML will help the project to avoid legal issues in the future and as a result increase token price (or at least not decrease it).

I will include this point into the topic.

I just don't feel safe handing out my personal information over the internet to a shady ICO.  I barely even trust my information with big companies like amazon.  Databses can be hacked anytime then criminals have access to all your info.

Hopefully these icos wake up and stop requiring KYC.

KYC is good to provide some information to let the customers be inform about personal information. This is like a legalization of the company business. I am not disagree rather agree to KYC. Bitcoin is decentralized place of business so providing the personal information will change the decentralization to centralization.

Lately, more and more projects require KYC to pass, sometimes this is required after you have purchased tokens or after the end of the ICO. And there is nothing left but to pass KYC. But the airdrops where KYC is required, I do not participate .

I voted Yes, I would participate, as a matter of fact I have completed some KYC forms, I don't see nothing wrong with leaving or proof my identity! I am not a criminal and pay taxes, why should I be worried. I don't think in any way, it can be used against me. It takes a little time, but it's fine by me!

This requirement is very important due to the peculiarities of legislative regulation of different countries. Nothing special, it's a simple formality that will allow you to participate legally.  But the other side it's not good to give personal data to companies with unknown reputation. So it is necessary to make a decision about giving KYC in each specific case.

Hello, I will gladly answer your question, I do not agree with you the process of identity verification is one of the aspects of secure investment in the project, and in my opinion this is really a useful option for participation in the sale of tokens

So what is your vote: "no" or "yes" ?

Nowadays it's mandatory to pass KYS almost for every good ICO. If's always a risk to share your personal information, as it can be sold to frauds. Sometimes we have to pass KYC even to recieve bounties or airdrops. So we have no choice actually.

The main reason that I don’t invest in ICO’s requiring KYC (know your customer) is that the process is sometimes time consuming and the ICO wont even be worth it. Also, revealing private information just to register in some ICO can be quite risky specially of the ICO is not a legit one and has flaws. ICO’s requiring KYC might and might not be a scam or ponzi scheme, but its hard for people to register for airdrop or pre sale just to get some coins.

I think there should be a third option in the voting poll "Undecided". The truth is that this KYC requirements are of genuine concern with regards to protecting investors and or illegal trades happening with crytpocurrencies and it is a legit concern. The trth also is that we have legit people who like to be anonymous donors for good causes or charities, so also there are people who would want to be anonymous investors... Its just their personality. I would vote undecided, coz I just don't want my data everywhere, but also I don't have anything to hide. Imagine I want to participate in 100 ICOs does that mean i have to give my data to 100 projects? That is very uneasy for most people. There should a be a way to track funds activities and ban wallets or seize wallets that are suspicious, then it forces the "suspect" to then provide proof of no wrongdoing.

If they are strong ICOs with serious, professional team and advisors with extensive background in cryptocurrency and expertise in their area of influence, yes I would feel comfortable with completing KYC. BUT, ALWAY do your own dilligence on projects, don't rely solely on another person's opinion about a project. ;)

i absolutely agree with you, if the ico is worth it, and you checked all the information about them. i send my personal information, only when i believe in the project.

Though we can do research before investing an ICO whether it’s a scam or not, but one can never surely say as some scams are designed so perfectly and their whitepaper seems so legit that it is nearly impossible to differ it from the real ICO’s. so sharing personal information before knowing if the ICO is legit or not is quite hard and plus KYC’s sometimes can be time consuming and annoying if the document gets rejected or matters like that. One has no security against it when he/she invests in ICO’s and provides personal information.

Wow, i didn't expect such a number of "no". But that's the rules we have right now. I wouldn't like ICOs to be used for money laundering. That's a serious problem

Speaking frankly, I do not participate in such ICO, because I do not want to share my personal data especially if we take into account the fact that often we do not even know whether it is reliable or not

I believe on bounty and project I invest that needed kyc for the distribution of tokens so i don't mind sending my personal information to them as i support this regulation as well because this makes a strong point to the community that not all ICO are scam.

Completely agree with this, anyone can create a token and setup a quick half decent looking site and claim to be launching the next best thing, so handing over your details is very risky, even with an ICO that you think looks legit.

I think for large investors there will be some need for information but for the smaller guys there really shouldn't be a need to go through this process.

If i see that the project is great like medichain, i will send my documents....

That means you do not understand the fundamentals this entire scene are built upon.

How would you differentiate large investors from smaller guys? what contribution amount might be considered as small? 2k or what?

ICOs are good way for money laundering and funding illegla activities. That's reason why governments require  from exchanges to register on security organizations like SEC in order to provide their data of customers. KYC procedure should be mandatory and everyone who participated in ICO have to pass it for not get in in trouble with both company and government.

It is simply a fact of what kind of company does the KYC, do i trust this company and what is the reputation of them.

There are so many ICOs that require KYC these days. It really is a shame that all this government regulation is being forced down the decentralized community's throats.

I think history will look back on this time and wonder about how we were so close to a utopian future but how long it really took in reality to get anywhere close to what humanity is ultimately capable of. I still think crypto will play a huge part in the future, but for now we will see dwindling projects completely overshadowed by major projects that suck up all the funding like a giant squid.

With the existence of KYC, no other than government and the company launching ICO shall have more security. For customers to have security while investing in an ICO, the government must make a rule for all the launching companies to register under them will all info and getting a trade mark before launching the ICO in the market.

This shall ensure that if the ICO scams and runs away someday, its affected customers and government will be able to take legal action against them and arrest them for the same.

I do not want to participate in such ICO because my trust of ICO and many of the project has changed a lot, after I trapped into a scam.

Definitely not, I'm pretty fond of having privacy and I must admit that I have not really been into the whole ICO craze.
Keep in mind that your data could get into the wrong hands by uploading your personal documents. You can't know for sure that they will handle it with proper care.

You wouldn't be the first one who gets his identity stolen that way.

On the one hand, it is good that during the time of ICO the companies ask for information about the investor and this basically means that they carefully select people, and it does not seem like a scam.

not when I did not send documents and do not advise you!

KYC lets the companies to run ICOs in their respective countries without getting in trouble with SEC, I do not claim perfect knowledge but I think this is if not the only one, a reason for ICOs to be conducted legally without any conflict regarding scams and stuff.

In my experience, CBS is required for passage in those campaigns that do not apply to certain countries! On the other hand, the crypto industry was built on the anonymity of the data ... Contradictions arise everywhere! There is information that the campaigns then sell the database to shadow forums. Therefore, I personally do not participate in such campaigns!

Another interesting question is how often those who reply "no" are actually participating in ICOs.

If they don't trust ICOs that ask KYC/AML info then probably they also don't trust to start-ups that don't require their personal data.

I try very carefully to select ICO in which I participate and usually  I screen out those projects where they require personal information about the investor

Do not be afraid of this procedure, because if you are worried about your safety, I want to upset you, we can be found in any case)

to be honest, I feel uncomfortable with verification like KYC. so far, i have done several times for reward bounty business.
but it is an obligation to complete the KYC verification if the ico rule tells it.

Now almost each ICO requires KYC, so no KYC no ICO for us :(

ICO should still maintain the principle of freedom, I think KYC only fosters new fraud. everyone will still be easy to manipulate data.
KYC is not a good solution for crypto.

I also feel uncomfortable with sharing my ID data but we have no choice due to legal limitations in several countries. I voted but this will change nothing because this question doesn't depend on the community decision.

Do you know what countries (of ICOs origin) don't require KYC?

NO WAY!

Any ico that requires KYC is actually a humongous red flag!
This shows that they do not have a solid legal team and are just following this horrific trend.

The only time an ICO should require a KYC is if their company is actually located and registered in Singapore or America.
These are countries that have specific laws that define tokens as securities that would require a KYC process.
(There might be other countries I'm not aware of).

Smart businesses will either:
Just not allow Chinese, Singaporean, or US citizens to participate and have you sign or check a disclaimer.
Or,
Just make sure their coin or token can be classified as a utility instead of a security.

Also, something important to note, NEVER give out your personal documents over the internet!
It is not paranoid to say that you can be a victim of identity theft.
It is real and you are just making yourself vulnerable by doing so.

This is not true, many country's have regulated ICO's to collect KYC.

This is not to say I agree with it, but it is the law in many countries now.

I completely agree with the bolded.

Just don't join ICO's that require KYC if enough people don't then they will launch under the umbrella of countries that do not require KYC. And if they are unable to figure out how to do that then you shouldn't give them your money anyway. :)

this security system is personally understandable to me, so that we know what we are investing money in, or what we are involved in, gives more hope that this company is safe.

KYC requirements varies from certain countries,even if we comply with the certain requirements it doesn't give us absolute privacy on our personal data. There are lots of fraudulent ICOs nowaday that collecting personal data for identity theft and sell them to other for other monetary reason. There are still los of god ICOs there that need no KYC, so better to choose one them. So for me, i don't participate with ICO that needs KYC.

I think providing personal data is dangerous for you if this amount of data is lost you may be in trouble. I recommend that you consider carefully before providing personal data to someone else.

I think it is alright if the ICO company is asking for our personal data. This is to ensure that our data is secured and valid. This is also for future reference. But we should still keep our data safe by installing internet security in our computers and devices.

i see no problem to submit personal data this time.
i have many times subject myself into KYC before i don't think i'd have to hide anymore after all anyone can pay me a visit in my house but i would choose which project or exchange to do it with. also i'm making sure the profile i have can't be connected to outside profile like facebook and linkedin. if anyone wants to find me, i guess they still have to search for me.

I try not to participate in projects with KYC.  And the answer is one - the anonymity of crypto-currency is violated, and this was one of the advantages of crypto-currency.  Secondly, I do not know how projects can use the information.  They can use all the information for their own purposes.

Someone shy can lost important information of them. I think all opportunity invest are included with risk, so if you scared, you don't should join market, because after invest ICO, have so much work to do  ;D

I am still hesitant to participate in ICOs that require KYC. I do not want to if the data from KYC was leaked. Even if they can guarantee our data is safe I will not participate. We do not know what will happen if it leaks.

I think the days of 'secret squirrel' ICOs is beginning to leave us behind, at least for many of the industry-related ICOs or exchange/lending/finance ICOs that hope to do business in the US or simply be listed on US-based exchanges in the future.  I can say I would readily hand over my details to just any ICO, but if the they used a reputable 3rd party KYC/AML provider, then sure, I'd participate.

Yes I have in the past and will in the future (for quality, and trustworthy ICOs).

Question, how does the poling work? Are you manually tallying it up because I did not see a place to cast an actual vote.

The real purpose of KYC is to provide the security to the developer itself. the majority of icos are getting threatened by the government that's why they are all doing KYC verification to provide the more security to the project and not allow those from countries are banned ico to join in the ico.

My rate is 50:50 if I feel a bad project I will not provide personal data for them. It's dangerous if my personal data is exposed outside of me, and I'm going to have a lot of trouble.

It depends on the project I am not so fixated on needing KYC or not and even if project is good but required KYC then i will participate, because some ICOs are banned in the country then KYC is required, also I have to make sure that the identity I provide is safe in the hands of the developer.

Yes, because investing in ICO, I hope to make a profit, so I do not care about anonymity in this case

I think, KYC can alternate from another project like ID verification from 3rd party, so we do not share those private information to any random startup project. but to answer the question i might say yes i still want to fulfill my KYC if this is a good projects that i like.

I participate in ICOs that require KYC, I would even go so far that I wouldn't trust an ICO which doesn't require a KYC :O but yes I am aware of giving away my private information :(

Fore sir, it depends on the power of the project. If that project has a big possibility to gain high amount when launches in some exchanges, im very sure that all investors are no doubt in giving their kyc. They are requiring kyc because they want to know where are investors from. Its okay at all mate.

I would never participate in the ICO I don't trust in, that is why I usually participae in the ICOs that require KYC. Usually I don't use my national passport whuch I think can somehow protect me from the frauds.

I do not support this idea. But without it you do not have the right to take part in the project. Therefore, you have to undergo a procedure like everyone else.

For me, this practice of obtaining documents is very unpleasant. What then can be done by owning such information. Spam is a trifle, you can remove it.

For example, one project recently shared KYC participant's Phone numbers right in the spreadsheet. It was open for all next to their BTT and social profiles.

No. Because I do not like when some project wants my passport data, I do not know how they will use them.

Every good ICO requires to pass KYC for participation. So if you wan't to get a profit you have no choice but to fill the KYC. Of course I wouldn't like to share my personal information for unknown people, but I take all the risks in order to earn some money. Even some bounty campaigns started to require KYC, so it can happen that you've been working for several weeks and then couldn't pass KYC and didn't receive anything. So I don't know how to deal with it.

I can tell you.  For example Fiancia  shares personal data (private phone numbers) of KYC participants right in its own bounty spreadsheet.  ::)

As a participant in the ICO signature campaign, I do not fundamentally join ICO projects, which, under the conditions of accession, provide for or do not exclude the conduct of a KYC audit. Such a requirement for participants in the signature campaign is illegal, because we do not invest any money in the ICO project. If we also consider the verification of investors, then in fact this is not a test, but the collection of personal information regarding investors. The ICO team is not a law enforcement agency with the authority to verify the data provided. They just compare this information to each other and if this information is not something suspicious, it is counted. However, even the law enforcement agencies of a particular country can not simply conduct a check against citizens of other states. Therefore, in the end, this is not a test, but simply the collection of confidential information and such a collection must be discontinued. This is a very bad trend. I think that for the entire period of the conduct of KYC inspections, no one has been identified who would attempt to launder "dirty" money. Therefore, the collection of such information under the guise of verification brings more harm than good. In addition, such an audit is easily circumvented by providing copies of other people's documents.

I dont participate on ICO requires KYC who knows they have your data and sell it. Its ok to give your information on ICO if the company is known and they provide information about them that we requires KYC.

kyc is for me a no go. first i thought kyc is a good thing, but after thinking about it, i am against it. i can not be sure before that I do not give any scamer my data.

so i vote no. maybe I will miss some ico, but i can live with that.

Yes, there was a complete failure with this company. Such a database of phones was merged into the network. After this, start to wonder whether to send documents for KYC or not ...

The KYC process in my opinion is not very correct from the protection of personal information and personal life, because I believe that scanning of documents can only be performed by accredited agencies or government agencies.

If I'm going to join an ICO project that I like as a signatory campaign participant and under the conditions of this campaign I see the possibility of passing a KYC check, I basically do not join such a project. There are a lot of ICO campaigns and I can find myself another suitable project without this illegal verification. And such companies are possible, because of this in the future will not succeed if such as I will be a lot and they will boycott such projects.

And you also don't care about what happens with your information , just to make a couple of hundred dollars if you are lucky. You have no idea who these guys are and what they are gonna do with your info.

I analyze the company, then make a decision. There are companies with a good idea, a team that everything is transparent. I have no doubts about such projects. And there is a very troubled company. From such try to put to cling away!

Yes, I do participate in ICOs with KYC registration as long as I believe in the project and has a potential to make profit, I think people are overplaying all these KYC of a thing, as long as you use facebook or any platform that require you phone number or email, you are likely to be tracked

if i really think a project is serious and worth it, i undoubtedly provide my personal data for registration. the thing is today almost every person put his or her personal data in their computer or smartphone. and nowadays it is not difficult to steal personal data at all. so if you think that the only "evil" and dangerous is kyc, you are wrong)) there are so many harmful apps for phones, virus programs for computer. in most of the cases a person doesn't have a clue of what is going on with his or her information that is "safely" being kept on a device.

If the project has good potential without fraud and can get bigger results, I will definitely follow the existing rules even with the KYC system. But if the project is doubtful and unclear, I would rather not continue the project and look for other projects that do not use the KYC system.
What I am worried about if we enter our personal data to follow the project, will there be security guarantees from ICO in our data? afraid later will be abused by the person who is not responsible for the evil deeds.

Yes, I already participated in such ICOs and I don't see any problem with that - why it should bother me?

If i choose between two identical campaigns, then of course I'll choose one that does not require a KYC procedure. The problem is that you sometimes find out about the need to undergo this procedure at the end of the campaign. I do not think it's honest.

I've been submitting for KYC a lot this year. It's required to participate and if it looks like a good ico I'm happy to do it.

If the project I like and I want to be its investor, then the answer to the question that was asked here is: Do you participate in the ICO that requires KYC (your personal data)? Yes, I take part in promising projects, and I see neither what is wrong with this

I don't have any problems to validate my profile using KYC.... I just take a look before in order to check it it's a scam or not....

Kyc requirement sometime more untill the bounty hunter but actually its only for investor and not for bounty hunter.
My personally will never being an investor of such project if i know in the beginning of time before investimg my money into it. But sometime dev hide that requirement and direct ask when the ico finish.

Yes I have participated in projects that require KYC. I did a lot of research before in order to determine if it is a scam or not. Everything looked ok and the product very promising. In such cases I don't mind giving my details

I do not have a problem in submitting my KYC details for a legitimate project. It gives even more trust that the company is doing things the legal way.

However, I would never give away my  KYC details if the project appears to be a scam.

Its fine for me joining an ico with a kyc requirement because we have a proof that none of them is scammer and in order to reduce the probability of being scammed by an ico then kyc is really required, there are a lot of successful ico's today that has a kyc requirement today so do not bother to invest or join their campaign here in this forum.

Yes, do not store personal data on such projects. All the more if they want my personal information, canvassed give 100$, roughly so much are worth on the black market? xD

I am/would for a sizable sum (reward wise). But if the reward is of a small nature, it is just not worth the risk as you can rapidly find scans of your ID-s on the deep web markets if something goes wrong.

If the project is reliable and I'm sure of it, then I can participate in the ICO, I am ready to provide my personal information.

Every good ICO requires KYC nowadays. So if you wan't to invest your money in a prospective and profitable project you have no choice but to pass KYC. Though I don't like to share my personal data, I need to do it if I want to earn money, I'm just accepting all the risks.

    I also prefer no to kyc because there are many ICO was succeeded even they are not requiring kyc at the start. Since we are dealing with cryptocurrency, and the word crypto means secret, I think it's best to remain cancelled our identity.