KYC is bullshit and the same tactic casinoes used to not pay people. Only when you investing a lot of money should you need KYC. So say over $10000.
will need KYC. KYC is banks. How legit are these ICO's?? The people running the ICO should show us their KYC not the other way around.
My local bank asks for KYC let us compare them to an ICO.
I will give my info to a bank because.
1. They are legally registered and can get into big trouble for leaking personal info.
2. They have been around for years and have a physical location as well as many people working there so if there is an issue it can be sorted out.
3. They respect you as a customer and are there for you at any time during work hours.
Why I won't give my KYC to ICO.
1. I don't trust some random person online claiming they legit when they have no physical location and are a faceless organisation.
2. No legal repercussion for sharing your info.
3. How safe is my info and where is it stored?
4. Who are you? Who are the people behind the ICO and what can I do if I am scammed?
5. I cannot meet face to face with ICO projects like I can with the bank.
If I cannot physically meet someone why in the hell should I give them my info? They can disappear and I can do nothing. How long till my info is in the hands of a scammer who uses my info to commit crimes?
? I have no protection against this and can do little to stop this.
ICO is perfect for a criminal. If I were a criminal I would ask KYC and run an ICO and sell the KYC info and noone can stop me. Do you see where I am going with this? These people are not banks they have no legal standing why do they want out legal info when we don't have theirs?
Do ICO projects even have an address, these pictures of the ICO team??? Are they real?? I think not.
You cannot ask someone for money and remain annonomous whilst they must not just give you money but surrender their person info.
No thanks. I wouldnt even give my KYC if I was to invest. I would however give my KYC to an actual registered company with an actual HQ that is physical.
How many of these ICO's are even legally registered??
I want to see some legal info of the people running the ICO not the other way around. It is them that must prove they legit to us not the other way around.
Oh and btw KYC means nothing. Scammers who run scams will open different bank accounts with different people they find. Say a homeless person or someone off the radar. THey then simple close the account and open another or have 20 accounts with 20 random people they get info off. It means nothing. Right now I can go to the corner of the road and ask someone there waiting for a taxi or work to give me their info and I can pretend I am them. Can you see how useless KYC is???
PErsonal info is worth more then money because people can do all sorts of things with that info like take loans for example.
It is all good and well gicing away your info untill you get a call from an officail saying you owe money becasue you have 12 loans under your name.
Maybe you get extorted?? You get doxxed?? Someone here on the forum gets that info a publishes it and now everyone here knows who you are and where you live??
No thanks.
