Any effect behind KYC verification on any project

[iram1011]

I strongly feel that doing KYC checks is mandatory in order to avoid people enrolling from multiple accounts in a single campaign. You can easily identify them when you see too many people participating from the same family.
This forum has been bombarded with alts and scammers who would do practically anything to make easy income out of this forum.
Such KYC checks would ensure that those scammers are always identified.

[1714771155]

1714771155

[DumbLefty]

I am not sure about the use of identification of ico participants. It seems to me that one of the main advantages of cryptocurrency is anonymity.

[cbIpok]

Kyci is necessary to prevent participation in countries where ICOs are prohibited. And it can also be a solution to prevent multiple participants.

[gogok]

I am not sure about the use of identification of ico participants. It seems to me that one of the main advantages of cryptocurrency is anonymity.

This is also the contradiction, that anonymity and publicity in the detachment can not be combined in one meaning. The requirements will be tightened to ISO members to provide personal information.

[vermigerous]

Only send your Identity on a trusted ICO other wise you will not know where your information gonna land it could get to any malicious person. so you need to be careful when you sending it research first then trust yourself. if you're not 100% sure then don't do it.

[hetecon]

Personally for me, KYC became a problem because, due to my inattention, I did not prosecute the KYC verification as required by the terms of the bounty campaign  and in the end I did not get my reward. So try ti be more attentive.

[Tuturtinular]

The issue of KYC verification this days on any ico one wants to buy is pronouncing. My question is, is KYC really necessary before one can purchase a particular project Ico? Because our documents were mend to be keep confidential and not to expose it to public, and the new rules is not KYC not Ico.
I hope our documents will not be use for impersonation of any criminal activities?
Please I need advice
Thanks 

It is true that my friends are also worried about this KYC problem, hopefully our document will not be misused for fraudulent actions and other unfavorable activities even though we know also the purpose of this KYC to avoid someone to use their multi account to get multiple benefits.

[Cokodi]

Personally, I'm pleased to know that the project that I support worries about security and knows its followers. Some may be upset by the fact that it takes a precious time, but if u think well, u`ll realize that this only increases the investment safety class - it's worth it.

[sehoon]

The issue of KYC verification this days on any ico one wants to buy is pronouncing. My question is, is KYC really necessary before one can purchase a particular project Ico? Because our documents were mend to be keep confidential and not to expose it to public, and the new rules is not KYC not Ico.
I hope our documents will not be use for impersonation of any criminal activities?
Please I need advice
Thanks  

If ever they're going to use it to illegal purposes, that is going to become a massive breach. But some people said that KYC is a protection for the people who use multiple accounts in one bounty. But for me, I think KYC is a big disadvantage when it comes to our privacy and I think it only makes cryptocurrency centralized instead of decentralized. And also, KYC doesn't really affect the project but it can affect the people's perspective on a project.

[mientoeg]

I think the KYC verification of late in a bounty project does have to exist because for the security of our tokens also from people who are not responsible

[MoonJeina]

The issue of KYC verification this days on any ico one wants to buy is pronouncing. My question is, is KYC really necessary before one can purchase a particular project Ico? Because our documents were mend to be keep confidential and not to expose it to public, and the new rules is not KYC not Ico.
I hope our documents will not be use for impersonation of any criminal activities?
Please I need advice
Thanks 

 
Some of the ICO team and organizers ask for KYC . That seemed awkward in the beginning but now it is ery much common .
The KYC is just asked for the purpose of verification so that tey could be sure of the identity as real and not a "bot" . But that is also wrong at some point since the crypro currency was all about being anonymous as possible and KYC is not fulfilling that purpose.

[bubidan.id]

The issue of KYC verification this days on any ico one wants to buy is pronouncing. My question is, is KYC really necessary before one can purchase a particular project Ico? Because our documents were mend to be keep confidential and not to expose it to public, and the new rules is not KYC not Ico.
I hope our documents will not be use for impersonation of any criminal activities?
Please I need advice
Thanks 

If you are afraid of KYC on ICO because the problem of data misuse actually has other solution. Buy the ICO token after the ICO token goes to the exchange. To my knowledge, ICO tokens will decline even below the Crowdsale price. Of course, this would be a great advantage besides avoiding the KYC process.

[celakkenyang]

that's the thing that makes me afraid if I submit my document to kyc. kyc system is very vulnerable to criminal acts that make losses to investors and everyone.

[neite99]

as we saw many times so many huge companies were hacked and even governments have been hacked by giving our information and publish them so no one can guarantee such a thing.

[Darthflux14]

First we will pass an important document (Passport, ID) that has all your location information. This could lead to hacking informations about us and use it into some illegal purposes. I do really don't want to take KYC, but for bounty purposes this is really needed and required into some ICO's. I really don't know why do they need to require it in order to receive your stakes on bounty campaigns. I know that it is for investors identity verification only but even for them why do they need to fill up KYC? Why do they need to verify the investors identity? And KYC is still not a solution to prevent multiple participants on an ICO. What if they used their friends or relatives ID and information in order to passed KYC? Am I right?

[carlfebz2]

I strongly feel that doing KYC checks is mandatory in order to avoid people enrolling from multiple accounts in a single campaign. You can easily identify them when you see too many people participating from the same family.
This forum has been bombarded with alts and scammers who would do practically anything to make easy income out of this forum.
Such KYC checks would ensure that those scammers are always identified.

You are just talking on KYC on bounty programs where it is also being implemented but we are mainly talking about KYC with investors itself. Reason would definitely most of the time that projects required this, is following procedures which they do need to comply specially when government is really requiring them to do so. KYC do really stop frauds and money laundering which is good but talking about effects when it comes to success then its not a sure thing that it would come to that anytime.

[Isaremj3]

The important of kyc is to known your customers. However, the essences of it is to know where each customers comes from, also it give them the right to stop some customers that their country have laws against take part in cryptosystem to stop them from  participate in crypto. Besides, not all country accept crypto for now. My little advice is that they try and speed up the verification process of kyc. Thanks

[nabinkhadka]

i guess project is more legit with kyc verification and comply with regulations china and usa never allow their citizen to invest in ico so its a good to conduct kyc

[stronghands4lyfe]

First we will pass an important document (Passport, ID) that has all your location information. This could lead to hacking informations about us and use it into some illegal purposes. I do really don't want to take KYC, but for bounty purposes this is really needed and required into some ICO's. I really don't know why do they need to require it in order to receive your stakes on bounty campaigns. I know that it is for investors identity verification only but even for them why do they need to fill up KYC? Why do they need to verify the investors identity? And KYC is still not a solution to prevent multiple participants on an ICO. What if they used their friends or relatives ID and information in order to passed KYC? Am I right?

You are pretty much spot on with your assumptions, it doesn't help the ICO much, and it really doesn't weed out scammers much. All it does is concentrate sensitive data in one spot so that hackers can hit the jackpot. I see no real reason for it other than being greedy and withholding bounties, in order to take more bounties for the team. That is what happened with TokenPay (scam), and a couple of other bounty projects I have seen around these forums.

[Dreamchaser21]

Kyci is necessary to prevent participation in countries where ICOs are prohibited. And it can also be a solution to prevent multiple participants.

This can be one of the reason why KYC is required in some ICO. Hopefully those information are safe with them and will be use in good things. Being anonymous in cryptoworld is dying now, and I think KYC will be the first requirements to own cryptocurrency in the future.