Has anyone been through a KYC?

[Ccexicocartel]

Hey guys,

Been looking into cybermiles for a while and right now their pre-registration is goin on and it's KYC. Has anyone been through that process?

What I found is that they're doing KYC and then the token sale will happen, but those that didn't pre-register won't be able to participate in the sale. Anyone else see other ico's like this? With only 6 days left in their pre-registration window, is this enough time to get everything verified??

[MisO69]

So you're buying into a marketplace huh? You do realize that we already have a few and they are kinda under performing.. OpenBazzar, BitBay are two that come to mind.

So the KYC thing, I did that before with ICO and exchanges. All they want to do is verify who you are. You'll need government ID and possibly a scanned bill with your home address and name.

[desomnomnom]

If there's 6 days left, then yes there is enough time to get everything verified. Usually when an ico does KYC, the timing indicates that as long as you submit your KYC before the window closes, you'll be fine.

[MEDVEDja2]

This is a normal process that is used in many processes. Any financial transactions require its passage. Such short terms are sufficient for a simple verification of documents and the formation of a database of registered participants.

[PeterKh]

I think KYC is going to be a growing requirement in the ICO market. It's easier to deal with banks/regulators later on if you can explain where the funds came from.

[Ccexicocartel]

So you're buying into a marketplace huh? You do realize that we already have a few and they are kinda under performing.. OpenBazzar, BitBay are two that come to mind.

So the KYC thing, I did that before with ICO and exchanges. All they want to do is verify who you are. You'll need government ID and possibly a scanned bill with your home address and name.

I initially got into cybermiles because of their partnership with the app 5miles which would kickstart them 12 million users when they launch. Was also interested in all of the network services like lending, identification, and supply chain management. I really like that they are commercializing it for other businesses

Have you seen other ico's doing this kind of timeline where they have a KYC period and then the actual token sale is after?

[Ccexicocartel]

If there's 6 days left, then yes there is enough time to get everything verified. Usually when an ico does KYC, the timing indicates that as long as you submit your KYC before the window closes, you'll be fine.

Hopefully! From their telegram group, I'm not so sure that's the case though.
But what's crazy is that as of today there are 15,000 people from 129 countries already approved to participate in their sale (quoted from their site). Seems to be that a lot of people all over the world don't mind providing that kind of info

[PeterKh]

If there's 6 days left, then yes there is enough time to get everything verified. Usually when an ico does KYC, the timing indicates that as long as you submit your KYC before the window closes, you'll be fine.

KYC should ideally be done before funds are accepted from the person. And what if a token buyer fails KYC, will there be a manual refund for such person?

[bribed]

Hello there, I dont know about this ICO, but I have been through a KYC once. It more or less was just like verifying your account on an exchange to get higher trading and withdrawal limits. I had to submit residential documents, copy of ID/ Passport and so on. It sure can be a hassle, but sometimes you got to undergo such things. As for the time window, I would suggest contacting them and ask them directly if they will be able to process it in time. Could also be that only the submitting date counts.