KYCs (Know your Client) is killing crypto

[otandelapaz]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

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[AGD]

1. Crypto=Cryptography
2. Cryptocurrencies doesn't need KYC just as they doesn't need centralized exchanges.
3. Centralized exchanges are going to die not only because of KYC.

[jpaul]

You won't have to worry much about exchanges getting KYC requirements as decentralized exchanges are being made. This year many decentralized exchanges are going to be launched which should open many option for us to exchange our coins without the need to verify ourselves.

[Lieldoryn]

Indeed, this problem is now gaining momentum. The bankers went on the attack. They know the most vulnerable spot of all cryptocurrency users. Many exchanges are forced to follow tighter KYC rules in order to obtain a permit to work with Fiat. I hope that this situation will encourage the solution of the problem of the use of cryptocurrencies as a full-fledged currency.

[krishnaverma]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

I really do not understand what problem people have is these exchanges are taking your KYC. This is done for a number of reasons. Most important reason is to ensure that the investors are paying taxes on their profits. This must be enforced otherwise people will start investing all their money in bitcoins and government will not get any tax. Another thing to keep in mind is that KYC helps to reduce the chances of criminals using bitcoins.

[glavos]

Actually its a good thing as it means regulations are coming in place and regulations are the only way institutional money will flow into crypto.

[HabBear]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC is only required when buying crypto from fiat. There are a handful of crypto currencies that focus on greater anonymity.

Without KYC, crypto currency would be opposed by every government agency and make it significantly more difficult to work with.

Here's another question for you - is enduring KYC for the purchase of crypto currency worse than the alternative?

[nightmanisrightman]

It is the plague that hovers over the traditional system and I sincerely hope it does not provide the same doom and gloom cloud for us. Luckily we have decentralized exchanges working every day to remedy that problem and now we even have a decentralized TOR exchange in BISQ. The future is bright, hang tight though because it may be a while before we are trading in full on anon DEX.

[Washball]

Indeed KYC is killing. The majority of crypto users/holders prefer privacy, KYC is the last thing we need. The governments want regulations, they say It's for the protection of individuals and to prevent criminal activities, but the main reason is taxes. And then they need KYC.
So we have to build our hope on decentralized exchanges.

[J-N]

KYC is only required when buying crypto from fiat. There are a handful of crypto currencies that focus on greater anonymity.

I heard that some bounty campaigns require the KYC in order to get tokens earned by participants. Usually the people do not trust their personal data to unknown third parties.

[flashmark]

In long run I would like to see these regulations coming up. I don't like to see using crypto coins for money laundering, drug dealing...etc. I can't understand why people don't like to these regulations.

[kueyen]

KYC is becoming a big problem for ICO investors and bounty hunters as well. It is hard enough as it is to find a promising and reputable ICO to invest your money and time in; and some inevitably turn out to be scams. It is a terrible prospect to lose your ID related information in addition to your money, if the ICO turns out to be a fraud.

[taeewo]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

They are only trying to protect their integrity and also abiding to the country law of Anti money laundering, its really necessary to me as i cant just imagine someone buying something worth millions without verification... If you wanna remain anonymous dont participate on i c o...

[BitcoinHunt3r]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

actually i agree with this thing, some KYC give problem to cryptocurrency users. for the example, some exchangers ask people to do KYC if not they can't use the services.( not want to mention what exchanger it is ) i think it is not necessary.

[bitcoinstress]

To be honest for ico, I think if we should send our identity. It's sound like unfair because that's not give guaranteed if that's ico will not scam.

[Palmerson]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

They are only trying to protect their integrity and also abiding to the country law of Anti money laundering, its really necessary to me as i cant just imagine someone buying something worth millions without verification... If you wanna remain anonymous dont participate on i c o...

How do they deal with money laundering? You provide the documents and what difference does it make. Banks check receipts on account of large sums. They always have the account holder's details. My opinion is an attempt to keep the spread of cryptocurrencies. Many accounts are blocked if the country is blacklisted. Why should people in the country suffer from corruption in power?

[focmere]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

It's pretty much killing us, the bounty participants. They don't even verify the identities. They just want to see if you sent anything to them. If yes, you are good to go.

[darkangel11]

First of all you don't need to use exchanges at all. If you don't like their policies buy crypto directly from other users, for cash. You can also mine or obtain other coins by working for them and then exchange them on decentralized exchanges (those that aren't offering fiat money and thus don't need you to verify). Verification is a requirement of fiat money and it becomes a burden when you want to combine these two: the decentralized world of cryptocurrencies and the centralized world of fiat money.

[audaciousbeing]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

At the time when I also got involved, exchange sites where not asking for KYCs but now, virtually all exchange sites require KYCs and even gambling sites that I see as complete irrelevant are now asking for KYCs. One constant thing in life is change and for anyone to feature in you have to either fall in line or look for something else to do. At some point on the forum, account sales was the other of the day but today, a mere expression of interest in that area would get your account nuked.

Is it killing crypto, I would say yes because I have not seen anyone sanctioned or taken to court as a result of the information gotten from such a lot of the money bags have to move out because their privacy is no longer guaranteed because the privacy that bitcoin guarantees is now being eroded by the intermediaries via the back door and there is nothing anybody can do about it.

[Coffee135]

First of all you don't need to use exchanges at all. If you don't like their policies buy crypto directly from other users, for cash. You can also mine or obtain other coins by working for them and then exchange them on decentralized exchanges (those that aren't offering fiat money and thus don't need you to verify). Verification is a requirement of fiat money and it becomes a burden when you want to combine these two: the decentralized world of cryptocurrencies and the centralized world of fiat money.

We have to combine crypto and Fiat. It is not our fault that bitcoin does not provide an opportunity to use it directly. We all shop for Fiat every day. I think that after the segwit2x system is applied we will get a qualitatively new level of currency. Maybe then we won't need Fiat. But I think the decision on this issue has been very long.

[ksiazek7]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

I fall on the side of shouldn't there be room for both?  As long as both are offered I mean, no killing off all anonymous/private trading.

[otandelapaz]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC is only required when buying crypto from fiat. There are a handful of crypto currencies that focus on greater anonymity.

Without KYC, crypto currency would be opposed by every government agency and make it significantly more difficult to work with.

Here's another question for you - is enduring KYC for the purchase of crypto currency worse than the alternative?

That's a good and important point. I will not argue if it comes with taxes or whatever legal. But how can we be sure that the information we gave them (exchanges etc) are being kept confidentially? We're putting our names our pictures, not just pictures but legit IDs.
I just hope there will be a better alternative. Something to keep us safe and private.  Thank you for your input

[darkangel11]

First of all you don't need to use exchanges at all. If you don't like their policies buy crypto directly from other users, for cash. You can also mine or obtain other coins by working for them and then exchange them on decentralized exchanges (those that aren't offering fiat money and thus don't need you to verify). Verification is a requirement of fiat money and it becomes a burden when you want to combine these two: the decentralized world of cryptocurrencies and the centralized world of fiat money.

We have to combine crypto and Fiat. It is not our fault that bitcoin does not provide an opportunity to use it directly. We all shop for Fiat every day. I think that after the segwit2x system is applied we will get a qualitatively new level of currency. Maybe then we won't need Fiat. But I think the decision on this issue has been very long.

There's no such requirement. You don't have to do anything if you don't like it. For instance, you can always use services available for BTC , even though they are still limited. Nobody is trying to say that it's our fault, but it's also not BTC's fault that it's still in the early stage of adoption. I'm going to wait a bit until I'm able to spend my coins directly, I don't mind that. If I wanted to turn it all to cash now I'd not only have to cover the exchange fees, but also pay taxes, and even then I  would be scared that they'll raid my house to check if I'm not some deep web drug dealer.
2x is out of the picture for now and I don't think it would suddenly turn BTC into a widely accepted payment system.

[Rozita]

I don't know I should agree or disagree with the OP.
I agree that KYC is against why cryptocurrencies has been created.
But we cannot ignore the money laundering and many illegal activities that can be done using bitcoin.

[Mike Mayor]

The only people who should be asking for or getting your KYC are local authorities and that is truelly to protect you and them. For example opening a bank account you must do a KYC and this is fine to be because I can go into the bank at anytime it's open and sit and talk face to face with someone and know legally my info is safe and secure. A bank has access to financial records as well as the record of people's ID which is given to them by the government. A KYC mean nothing without a database to verify it with. Infact unless you have the authority you shouldn't be asking for it since you need access to people's records to ceridy it and only government officials have that.

KYC takes the power away from the crypto world and it is going backwards. If you want to do KYC then just use fiat. Give up on crypto beits clearly bot for you.

Identity theft is a real danger in today's world and your identity is worth something. Criminals know this and with your KYC documents they can I'm open all manner of accounts under your name and possibly commit fraud or extortion. So be careful who you give your info to. Do not give your KYC to s faceless organization. Only government your KYC if you can meet face to face with the person or they an actregistered and sanctioned company.

I don't know I should agree or disagree with the OP.
I agree that KYC is against why cryptocurrencies has been created.
But we cannot ignore the money laundering and many illegal activities that can be done using bitcoin.

Please don't be naive. Crime doesn't need bitcoin. Crime will be done using whatever is available be if Bitcoin or something else. KYC can't stop this since criminals use fake info to commit crimes anyway. When criminals open up bank accounts they use random people or some homeless guy. Please think before posting.

[Kingigolo]

I agree that KYC( know your customer) and AML(.anti-money laundering) is slowing down the rate of growth of the cryptocurrency market since many prefer crypto to be anonymous.

[stevegee58]

KYC/AML has nothing to do with crypto.  It only applies to exchanges where you convert to USD or other fiat.
It's only fair that governments want to protect their fiat currencies and their banking systems.

Now, if you wanted to perform a service or sell goods to someone and get paid in BTC directly then it doesn't matter.  Ultimately that's the vision for cryptocurrencies: person-to-person exchanges, not conversion to fiat.

[tomahawk9]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

The reason exchanges adopted KYC is to avoid illicit activities, without KYC or AML, cryptocurrencies will most likely lose the legitimacy needed to begin a widespread adoption since the goverments, and even the general public, will disagree with the idea of adopting cryptocurrencies in our modern society...do you really want that?

And you said: "some people are beginning to be hesitant in their activities in crypto.". Honestly, either those people are too paranoid about their privacy or they're up to something. Seriously, what kind of activity would anyone try to do with crypto that makes KYC so "troublesome"?

But tbh, anyone who cares that much about their anonymity would not use exchanges or anything that tries to expose their personal info, there are many ways out there where you can buy crypto for fiat money.

[havok1998]

KYC is not killing the crypto market. its building a bridge between government and people to make sure people pay their taxes that is necessary for development of a country. and moreover crypto is still private in transaction case as government will only know how much have you bought on exchanges,etc but they will never know whom the funds are transferred and can never track the transactions taking place. KYC is good and favors both government and the investors. it also stops the illegal and terrorists funding going in the world. the whole point is to make crypto regulated as is the case with buying shares or gold. so overall its a step forward for development of cryptos and making them part of investments for people.

[burdagol12345]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Will this statement for me is true,mostly people want to become anonymous,to protect there self in harm,or some bad people who take advantage of your asset,but when this KYC  implemented the identity of the person will become seen,and maybe it will endangered  to the life of many bitcoiners or investor,thats why some of us become worried why should the forbidden before in crypto to hide your identity they will change it to KYC,maybe there something fishy.

[dark08]

KYC is not killing the crypto market. its building a bridge between government and people to make sure people pay their taxes that is necessary for development of a country. and moreover crypto is still private in transaction case as government will only know how much have you bought on exchanges,etc but they will never know whom the funds are transferred and can never track the transactions taking place. KYC is good and favors both government and the investors. it also stops the illegal and terrorists funding going in the world. the whole point is to make crypto regulated as is the case with buying shares or gold. so overall its a step forward for development of cryptos and making them part of investments for people.

Yes I agree its not killing the crypto but the one that I hate with this kyc system you need to give your information as easy haha Im not favor with this but we have no choose but we need this to get our reward token.

[378budiman]

You do not have to worry much about the exchange of getting KYC requirements because a decentralized swap is being done. The bankers continue to attack. They know the most vulnerable places of all cryptococcal users. Many exchanges are forced to follow stricter KYC rules to get permission to work with Fiat.

[oni4an]

For someone it is possible and bad, but in a greater sense it is even very good, it is an additional recognition, it is the safety of people who invest their money, it is an opportunity to keep track of criminals. And for those who want to remain incognito there are anonymous cryptocurrency.

[hadveach]

yes, ICO rules today are getting tough, and I think KYC has great benefits, such as minimizing money laundering for whitelist or investors and minimizing cheating ICO participants.

so, in addition to interfere with crypto but the benefits are greater.

[Jaya912]

1. Crypto=Cryptography
2. Cryptocurrencies doesn't need KYC just as they doesn't need centralized exchanges.
3. Centralized exchanges are going to die not only because of KYC.

so may i know why centralized exchange will be dead and its not because KYC, so because what?
i think the centralized exchange like bittrex is still very popular among the exchange and even the decentralized exchange has smaller trading volume.

[jlanzago]

Well, if you have something to hide... I don't think it is killing crypto. What would kill crypto would be no way to convert it to fiat.

[Meysa_richa]

It is true that nowadays many are put to use KYC requirements, and that is great for security as well as many bounty sigcamps that require KYC requirements, that's good to do.

[noloco]

More regulation and KYC and control will turn crypto into an asset like stock or bonds. It would be better in some cases and worse in others.

[Reid]

You won't have to worry much about exchanges getting KYC requirements as decentralized exchanges are being made. This year many decentralized exchanges are going to be launched which should open many option for us to exchange our coins without the need to verify ourselves.

Decentralized exchanges with what? With a limited amount to get out?
It wont work. As long as you are using a lot of money in exchange just like bitcoin then you will have to deal with the law.
They want to prevent every large withdrawal as possible to avoid buying illegal weapons and drugs. This also have something to do with money laundering.
It will not be easy now ever since the bitcoin value went up. Tracking it will always matter to the government.

[jakelyson]

If you have nothing to hide, then you will not be afraid of KYC. It is a requirement imposed by the government, so exchanges have to abide and so are we. And there is always options if you do not want to do KYC. Choose a good dex and trade there. Or if you just want to turn you crypto into fiat, deal directly to your peers or people in your community. Some of my facebook friends are doing that to avoid large fees from exchanges.

[Dissident991]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

I think KYC is not killing crypto. There is no another way, because governments need to combat crime and money laundering. It is the neccesary step for adoption crypto in real life, without KYC nobody can protect your funds.

[Indrawan77]

Yes this KYC has making people hesitate to join and causing  crypto currencies lost it's most precious feature which is anonymous, but nothing much can be done, since crypto already turn this big and famous, the government doesn't want everyone to avoid taxes,  want to prevent somebody to do illegal transactions and money laundering, the one that I concern is they will misused our identity

[Lexurdania]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

In a many country that already have regulation about cryptocurrency they must need to protect their citizen interest. Few ICO need KYC because they want to obey the rule on that country and for investment safety. If we dont want to register KYC, we can buy it in market or exchange

[datodota002]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

in my opinion, this really necessary because as we know bitcoin is very anonymouse on the network and almost impossible to know the identity of person on blockhain. so the exchanger need to know the customer from the beginning when he sign up on the exchanger to prevent money laundering and terrorist fund.

[lepbagong]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

this is very justified ..... because in the presence of KYC, many who are in doubt may even have started not believing, but fortunately not all can and want to do so a priority.

[leland orser]

I think it's very dangerous to send KYC to these teams in cryptocurrency markets.
Since I have seen sell the KYC data obtained by the ICO team in private, our KYC is not well preserved.

[speedy1987]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC ( Know your client ) is a document which consists of details about your customers such as name, address, bank details and even some times the pic of them, i order to proceed through the bitcoin exchange and ICO.
It will verified within few hours but some times it take some time to verified which make us to feel bad. This in term reduce the criminals and frauds to participate in the cryptoworld. If you dont have nothing to hide them KYC wont be killing you.

[Rustamm]

KYC is becoming a big problem for ICO investors and bounty hunters as well. It is hard enough as it is to find a promising and reputable ICO to invest your money and time in; and some inevitably turn out to be scams. It is a terrible prospect to lose your ID related information in addition to your money, if the ICO turns out to be a fraud.

For investors and bounty hunters, holding KYC in ICO campaigns is really a big problem now because there are so many fraudulent ICO projects now and it turns out that we transfer personal data and copies of our passports directly to criminals. Moreover, bounty hunters are not investors and there is no need to conduct such a check. Avoid such verification by not joining such ICO companies, because ICO companies begin to require the provision of identification information and copies of passports after the ICO, when counted earned tokens and refuse to pass a test, KYC means to abandon their tokens.

[Lampaster]

I think it's very dangerous to send KYC to these teams in cryptocurrency markets.
Since I have seen sell the KYC data obtained by the ICO team in private, our KYC is not well preserved.

Why do you think that the leak occurred through the fault of the ICO? Your data can be stored anywhere. You categorically trust the bankers? Lol. Banks also employ people. They can sell the database or hackers can hack into the Bank's servers. The tax service has such a base. Our data is everywhere.

[SHAWN-MIDWAYS]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

with this information you have provided i think decentralized exchanges will soon grow which includes the tokens that are listed there, since ethereum and most erc20 tokens can be made available on a decentralized exchange its best to invest in some of these...and if KYC is what you want to avoid wait for the tokens to hit an exchange and you will get them minus KYC requirements but you will pay more for the coins

[Leyss]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

From the point of view of governments, they can be understood. Taxation is impossible without identification of individuals when performing transactions with the crypto currency. However, this completely contradicts the principle of anonymity when working with crypto currency. For those who want to keep their anonymity out one - decentralized exchangers. I think that in any case they will be able to work by registering in offshore zones.

[TrumpD]

The problem is that there soo few outlets to spend bitcoin directly, thus having to convert to fiat money. Now most exchanges are required by law to do the KYC checks, or they'd be out of business, so its not their fault their hands are tied. Until we come up with an innovative system of verification and still keeping anonymity decentralized exchanges are the only options now. One thing which can be considered, I don't know if its feasible to have trusted exchanges at countries where these KYCs rules don't apply and then these exchanges send fiat to the receiver. It doesn't totally cover anonymity, but it does help the situation to an extent.

[ben-iyieke]

 This must be enforced otherwise people will start investing all their money in bitcoins and government will not get any tax. Another thing to keep in mind is that KYC helps to reduce the chances of criminals using bitcoins.I really do not understand what problem people have is these exchanges are taking your KYC. This is done for a number of reasons. Most important reason is to ensure that the investors are paying taxes on their profits.

[Aum Ram]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

From the point of view of governments, they can be understood. Taxation is impossible without identification of individuals when performing transactions with the crypto currency. However, this completely contradicts the principle of anonymity when working with crypto currency. For those who want to keep their anonymity out one - decentralized exchangers. I think that in any case they will be able to work by registering in offshore zones.

The problem is not only this. Many people disagree with this procedure because they fear for their safety. Already many cases are known when criminals made attacks on people owning crypto currency. Public disclosure of their personal data becomes dangerous.

[Jeepney_koh]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

I believe there will lesser and lesser investors because of KYC. Why, because investors are afraid that their information may be used and broadcast in the internet. A peoject with KYC cannot attract more investors because of this thing. If this continues, crypto will really die.

[CuteBaby123]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

I was also attracted and encouraged to invest in crypto because I know that I do not need to provide my information as invest. The privacy as investor really mean to me especially it involves in the digital world. When KYC suddenly came into action, I do have hesistations. KYC is destroying the rule of privacy in crypto. This is really making investors less and less.

[Lyne01]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Is KYC really required in all ICOs? I think only few ICOs requires KYC. But if all ICOs adapt this thing, yhen they will really lose good investors. Investors make the project alive and successful. Especially so, KYC is not requored. But if this will happen for all projects, expect that they will have few investors. It is really killing the crypto.

[Hopeful2017]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Indeed, you are right. KYC is making the crypto world hesistant. The goal of cryptocurrency is to make you a private individual and investor. The information you put in KyC maybe used in illegal ways. It is really difficult to put your info there because this is a digital world, it may expose your info to bad people.

[KeithBeeCham]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Is KYC really required in all ICOs? I think only few ICOs requires KYC. But if all ICOs adapt this thing, yhen they will really lose good investors. Investors make the project alive and successful. Especially so, KYC is not requored. But if this will happen for all projects, expect that they will have few investors. It is really killing the crypto.

I don't think KYC will make ICO project lose good investors. If an ICO project is good enough, I think KYC is not a big problem for investors if they want to invest in these projects. Beside KYC is "Know you customer" not "Know your Client". I think KYC is needed to avoid cheater and investor from country which banned ICO project like US.

[Umkar]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Legalizing crypto-currency, the governments of most countries simultaneously impose taxes on profits from operations with crypto-currency. In order to have a base for such taxation, it must demand from exchanges and exchangers located on their territory that they establish the identity of persons making transactions with the crypto currency. This is indeed a big problem for the holders of crypto currency, however. apparently, this can not be avoided anywhere. Will the decentralized exchangers located in other countries save the situation? I do not know. Time will tell.

[CherRic]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

ICOs are very wise nowadays. When you are investing in their sales perios, KYc is not require. However, when the time to received the coins for your investment, they are requiring you already to have KYC. In some point, there are also advamtages of KYC like they are making sure that you are actually a true investor. But, this is something worrying because your infos will be vurnerable to hackers and scammers.

[Slark]

I will rather be a subject to KYC than see cryptocurrencies banned or restricted in some other way.
Do you really think that cryptocurrency can remain anonymous and at the same time will attack more people, push adoption further?
This is not gonna happen, either we will embrace some sort of regulations (AML, KYC etc.) or no business will ever accept crypto as a payment method.

Dura lex sed lex.

[Skieleton]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

It is true. BTC is anonymous and for many people it is important. KYC is an extortion of private data that is very valuable than a few dollars for coins as a reward. I know people are starting to enter fake data for fear of personal data ...

[WiseUp216]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

good project will get money. you need to to good marketing and have great potencial product.

[oginiimaoyani]

KYC not helping at all, its really discouraging and becoming too worrisome because the information only comes when you are about to receive tokens so in my option I will say that investors should be notified at the starting stage.

[Xzhyte]

I guess it is a government requirement to oblige big exchanges to have KYC. I don't think KYC is a bad thing, unless you plan to use your money on evil things. Also, in order to achieve mass adoption, regulation is a must, and KYC is one of the stages to achieve it.

[cunese]

I also think kyc is not very good, and the cryptocurrency should have been encrypted. Rather than divulging customer information, it's really bad,

[judeafante]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

We should boycott this Ico that implement that KYC thing, I will never invest or participate in this kind of project, cryptocurrency is about decentralization and this KYC thing takes away that if we will not stop it now soon all Ico will implement that but I'm glad only a small portion right now is doing that.

[vv181]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

As soon the promising decentralized exchange already available, and the atomic swap platform exists. I believe we don't have to rely on the centralized entities, we can truly achieve what is decentralized means. However, I don't think we should be worried about the cryptocurrency scene whicch is contained which KYC.

[Apened]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC is not good for crypto it breaks the crypto or original features of crypto. I don't like the way that exchanges and ICO is requiring us but we don't have a choice because they are pushing it. I am afraid to submit any ID, they can use it for fraud or scamming especially if the ico or exchanges was a scam in the future.

[zeingrind777]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

I think KYC is great for avoiding terrorist financing and crime. in the presence of this KYC, cryptocurrency remains privacy in crypto delivery, as it only uses the address wallet as the sending data. for me, KYC is only known by the exchange and exchange only.

[yusupjatigumilar]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

In my opinion about the holding of KYC on some crypto platforms it is aimed that no member cheat by having multiple accounts using one same referral address so get many benefits, this is actually good, but on the other hand members feel that the crypto world is gone privacy identity, as before where a crypto transaction is anonymous

[gabbie2010]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC is aimed towards preventing illegality that is perpetuated by  some scrupulous individuals in the name money laundering, financing terrorist organizations, illegal drug cartels e.t.c using the decentralized feature of Cryptos.
Measures taken by the implementation KYC will ensured tracking or tracing of  both legal or illegal funds and probably arrest anyone that is involved in the illegality.

[alekseidanilov0803]

Hi guys, I'm investing cs-monitor. Please share how you invest in what projects in which crypto-currencies.

[Pan Troglodytes]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

From the point of view of governments, they can be understood. Taxation is impossible without identification of individuals when performing transactions with the crypto currency. However, this completely contradicts the principle of anonymity when working with crypto currency. For those who want to keep their anonymity out one - decentralized exchangers. I think that in any case they will be able to work by registering in offshore zones.

But the KYC regulations have been introduced (and are being introduced) with the excuse that it will prevent money laundering, not that it will enable taxation. That is why it should be restricted to transactions exceeding a certain amount (like 15.000 Dollars or whatever is legally aplicable), not applied to every transaction. Or, if they want to do the KYC in order to enable taxation, they should openly state it so.

[zentdex]

I agree with you about that. Some people feel that KYC thing stands for Kill Your Customer. It destroy the whole essence of crypto as being anonymous to all other people even the open ledge was exposed to public. Due to that rules, some feel like they are shouting the whole world that they send money to another man with this sum of amount. It is just like posting you whole bank statement to the internet. I can't imagine what will happen next if the criminal could openly see that list, soon there could be no one using the tech.

[mholtman97]

I agree

[JinCrypts]

I also hate the fact that KYC being a part of some ICO, Exchange, and Bounties because here in cryptoverse safety is a must so it is better to be anonymous than filling forms about yourself and what it worst is that it need to require valid ID such as passport etc etc. What if something happens and all infos were leaked? It is very unsafe and it might used to fraud others. KYC must die in crypto

[Basmic]

I agree with you about that. Some people feel that KYC thing stands for Kill Your Customer. It destroy the whole essence of crypto as being anonymous to all other people even the open ledge was exposed to public. Due to that rules, some feel like they are shouting the whole world that they send money to another man with this sum of amount. It is just like posting you whole bank statement to the internet. I can't imagine what will happen next if the criminal could openly see that list, soon there could be no one using the tech.

Why would the stock exchanges know their client? It seems to me that this contradicts the basic principles of cryptocurrencies. But who's to blame? Users themselves want to be able to exchange cryptocurrencies on Fiat. Without complying with the KYC rules is impossible. The cryptocurrency community has long stopped in its development. Without the possibility of using cryptocurrencies as currencies, we will be defeated in the war with Fiat.

[belyaevi]

I guess it is a government requirement to oblige big exchanges to have KYC. I don't think KYC is a bad thing, unless you plan to use your money on evil things. Also, in order to achieve mass adoption, regulation is a must, and KYC is one of the stages to achieve it.

I completely agree to this. KYC is good for bitcoins as it ensures that the fraudsters, criminals or terrorists stay away from these. Even after there are KYC requirement for bitcoin, I see a lot of people cheating exchanges by registering accounts with fake documents. In my country, even opening a fake bank account is not that hard and you can easily get it done with the help of bank employees. I hope that government looks after these cases with extra investigation. I do not want my countries economy to suffer because of all black money being spent in bitcoins.

[Doge dealer]

That might be true but that would be the people who were interested for illegal means , the bitcoin ecosystem dosent need such individuals anyhow, majority of the persons who use bitcoins are interested because its not centralized and the ease with which you can do a transaction . from my interaction not every one is overly concerned by this kyc situation because lets face it no system can be effective or produce the desired results without some measure of control and management. the real question is what is the level of control that would be instituted , but majority of the people involved are not overly concerned and would comply should that become a reality.

[PhucS]

Yes, there are now a lot of ICO projects that require KYC, which causes some inconvenience to some investors because they do not want to provide their information, they want to be anonymous when investing in this market. But I think this is a good thing, KYC will help ICO projects become more transparent, reliable and resistant to economic offenses money laundering.

[francedeni]

Yes, there are now a lot of ICO projects that require KYC, which causes some inconvenience to some investors because they do not want to provide their information, they want to be anonymous when investing in this market. But I think this is a good thing, KYC will help ICO projects become more transparent, reliable and resistant to economic offenses money laundering.

Kyc is not killing crypto actually it helps users or investors to know the Ico first before making any decisions. That's one of the good inputs to have kyc most ico these days. Security shoul be verify to all investors for their own good also.

[salterious]

Yes, there are now a lot of ICO projects that require KYC, which causes some inconvenience to some investors because they do not want to provide their information, they want to be anonymous when investing in this market. But I think this is a good thing, KYC will help ICO projects become more transparent, reliable and resistant to economic offenses money laundering.

I don't agree with KYC at all and it is one thing to get investors do it, but recently I have heard now this is the case for some bounties too. It is off putting because that certainly how cryptos were when they started, and we certainly owe it to the true nature of crypto to stop this. I won't participate in any KYC in crypto, unless it is to withdraw my funds (even then I believe it is horsecrap).

[Taulava1505]

Not all kyc is annoying but one time I have encounter kyc that full so much info needed from your details,example for bank statement that was crazy,we need privacy about that,not all our info were given in kyc.Most of ico's need kyc is it ok but the other like they want only get your detail and use it from scam others,i received email about that but I didn't click the link

[Sexie]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

not


I got surprised also when somebody asking me if I already been given my kyc ,I thought that was Very important In crypto exchanges. As a beginnere , I did it. Not knowing that they Will take information of yours.
By this ,they can just easily trace you of what is your activities in cryptocurrencies. In this matter, if it Will help the government to know everybody who was joining the crypto world, then Its been good for everybody, nothing to hide, when you are in the right side.

[levvv]

Yeah, i agree. bitcoin and cryptocurrency should not proceed with KYC.
it is erasing the value of cryptocurrency it self.
now at currently, there are many ICO's that required KYC to participate.

[alexn3620]

Yes, immediately the question of anonymity disappears. You can find a person by his documents, not exactly decentralization.

[Lonsdayl]

I totally agree with you. I hate ICO which wants to get ID from investors and bounty hunters. It is easier to buy tokens after listing on exchange than give somebody KYC data.

[dollarneed]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Finally, someone making this thread the reason why I'm joining this industry because of the privacy that's all but now seems like we're losing control of our privacy. Satoshi proposed the simplest currency that people can use it freely without uploading document or verification and I just feel so bad for the situation right now. I was joining an ICO I thought why not to buy some coins but it was really bad they need us to pass the KYC before investing.

[HasHe]

Definitely those people who bought bitcoins only for enjoying its anonymous nature would get upset with this KYC move.But instead of using exchanges,we should try to form a group of people who get involved in cryptos and form a telegram group or any other form and deal with those people for all trading activities.

By this way,we could still stay anonymous.

[Qartersa]

I agree because there are lots of investors who wanted to put money in Bitcoin not only because their investments in it grows exponentially higher than putting money anywhere else but because of its less hassle way in terms of proper documentation purposes that are regularly required of investors and the heavy taxes imposed on profit-generating assets. This KYC has literally changed the game in Bitcoin in terms of the aforesaid hence we cannot blame investors who opted out already.

[Ranly123]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

I think kyc makes investors hesitate because of privacy issue. Though some legit programs ask for it, then it is also a much better way to determine a fake and legit project. Kyc really is a two way system which benefit and give a bad impression on new investors.

[trollercoaster]

I guess it is a government requirement to oblige big exchanges to have KYC. I don't think KYC is a bad thing, unless you plan to use your money on evil things. Also, in order to achieve mass adoption, regulation is a must, and KYC is one of the stages to achieve it.

Completely true. KYC keeps many scammers away, it's not killing cryptocurrency market, on the contrary it keeps away scammers and spammers. My take is that if you're not willing to share your information with us, you have something to hide... If you have something to hide in economic matters you can't be trusted.

[goldexp83]

KYC stands for Know Your Customer (not your client)

one of the reason why is becoming more and more needed is for security, think about bad actors and money laundering and so on, how do exchanges can catch the bad guys without some KYC?

I think we believe regulation if we want cryptos to take over the world!

[newdevices]

KYC system may indeed be one of the factors that led to the decline in the value of the currency crypto,
because now more and more investors are leaving ico

[ronnis.gomes]

Unfortunately KYC has come to stay and I believe that more and more regulations will arise, ending with the privacy of investors, thanks to the greed of mediocre governments

[kier010]

many illegal activities are made through exchange sites that don't have kyc even exchange that have kyc. for yourself it is bad to have kyc in exchange sites but on the side of government it useful.

[OuterTech]

I think KYC is needed with cryptos and especially ICO projects. If not KYC, some people will use a lot of money to manipulate the crypto, negatively affects the project as well as the cryptocurrencies market. So I think the ICO projects should have KYC for investors to avoid the illegal Token purchasing.

[jayco25]

I believed that KYC is killing crypto. a lot of people don't really want  KYC for different reason.
1. They are afraid submitting documents because they are thinking how come their identity is safe and not be use by others.
2. People want still anonymous why they are investing money in crypto currencies.
3. A lot of big investors dont like  KYC,  they dont want buy ICO's that need KYC even the project is promising so its really affects the sales of some ICO'S


#Datarius

[heureca]

Yeah, KYC is not comfortable tool to check identity. There a lot of criptocurrency projects and may be some of them will use users identity data for its own purpose

[Nilda]

You have nothing to fear if you have nothing to hide. Only those with multiple accounts don’t like KYCs. Identity thefts and accounts getting hacked happen all the time, with or without KYCs.

[trader34]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Well, in my opinion you shouldn't see KYC exclusively as a negative thing. if no Exchange does KYC, governments will simply start to stop crypto trading by law. At the moment, they are starting to accept the existence of the crypto market, so it's better not to go directly against regulations if we want a prosperous future market...

Anyway, from this year we will begin to see starting more and more good decentralized Exchanges, so if what you are looking for is privacy, you will be satisfied with this new excellent opportunity.

[Semaj123]

You have nothing to fear if you have nothing to hide. Only those with multiple accounts don’t like KYCs. Identity thefts and accounts getting hacked happen all the time, with or without KYCs.

The issue here is not with multiple accounts but about investors who doesn't want KYC because they want their personal information to be in private. KYC is really giving us some worries about our identity and that's why some ICOs that required KYC  are being avoided by some potential investors.

[edsnowangel]

yes KYC process is killing the crypto advocacy why the main reason why people using crypto is for anonymous transaction but there are so many ICO company and other crypto company needs to be KYC in order to get your payments ETC or withdraw your money this is definitely bad because the aim of the crypto has been ignore, to have an anonymous network the thing is that people are afraid if they send their documents online then they can be a victim of identity theft and lots of people are doing it so I would say that let's not support a program with KYC

[dg2010]

yes, i totally agree with you. the mot important advantage of crypto is anynomous. But now, most of projects and exchanges force the users have to register KYC. I think they will not accept and this reduces the number of users.

[HashFace]

This may very well be the case ...  not only with ICOs and bounty hunting ... but with the ever increasing government presence on the exchanges, requiring more and more personal data and tax reporting to the IRS (in America). 

It may lead to a quicker rise in privacy focused coins. 

[kimmy724]

As far as submitting personal documents, I think it's appropriate but with an agency that will never leak out such sensitive information. It will only just for a background check and nothing else.

[macchiato]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

This was my first impression of KYC and most probably, majority of crypto users initially think of it this way too. Data leaks may occur. Private information are at risk. Investors, as a result, stay away from ICOs that require KYC.

However, there is an increasing number of ICOs that follow KYC policy which means many investors invest less. This could be one cause of the bloodbath.

[vv181]

Yes, there are now a lot of ICO projects that require KYC, which causes some inconvenience to some investors because they do not want to provide their information, they want to be anonymous when investing in this market. But I think this is a good thing, KYC will help ICO projects become more transparent, reliable and resistant to economic offenses money laundering.

Kyc is not killing crypto actually it helps users or investors to know the Ico first before making any decisions. That's one of the good inputs to have kyc most ico these days. Security shoul be verify to all investors for their own good also.

It is killing cryptocurrency. Cryptocurrency is known for privacy and anonymity, and because of that, the KYC verification is killing cryptocurrency scene. If you still think it actaully help the investor, you have a bad point of view about cryptocurrency in general.

[chidrawarster]

I feel it's a mandatory norm for filing kyc just to be aware the coins are being floated to the rite  person as the same can be used for any illegal activity as well if the identity is not revealed. The best way is to buy and sell with kyc provided and  live a happy life.

[Victorycoin]

As far as submitting personal documents, I think it's appropriate but with an agency that will never leak out such sensitive information. It will only just for a background check and nothing else.

Where exactly can we find such agencies that guarantees people's personal information would never be disclosed to third parties? These days we're beginning to see that the requirement for KYC by most centralized exchanges is now by default, regardless you want to deal on fiat or not. The main concern of many people over the request for KYC in cryptocurrency is that one can never tell, who or where their personal details end up and that is even made worst by the rate these exchanges are hacked.

[Stephen Gornick]

To my opinion there are two aspects of KYC regarding crypto.
At one side it's not so good for users of cryptocurrencies because they expect privacy, what they didn't have with fiat. There is no absolute privacy but still some amount of anonimity when you use crypto is present.
On the other hand KYC can help to protect from different types of scam so this is the good side. And everyone who don't have attention to performe something illegal don't have to fear KYC.

[V-t.Ester]

Being an incognito attracts people. Exchange markets and ICO managers understand this. However some of exchange houses provide verification and a lot of their clients stopped using them. The same is with ICO. I don't like this new rules with KYC in some bounties. No one knows what for they need personal information about their clients.

[Simple_Man]

Being an incognito attracts people. Exchange markets and ICO managers understand this. However some of exchange houses provide verification and a lot of their clients stopped using them. The same is with ICO. I don't like this new rules with KYC in some bounties. No one knows what for they need personal information about their clients.

The ICO and exchange houses need KYC to comply with the regulation of their respective country. They just don't want their business to be effected by the government agencies. That is the reason why they need KYC data. While the exchange houses asking for KYC data is ok, I don't support ICOs asking for it. Even though they have regulations to comply with, but when we are not sure about their own identity, we don't feel comfortable to provide KYC to them. Because no one know what kind of scam it may open up later.

[Cixboy61]

Yes you are right. I made a lot of KYC for ico's or bounties and its scared me to give my passport copy to unknown person or company.

[Musstang]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

The need for KYC is not so often, as for me it's okay, although if we talk about security, then maybe we would not want to.
Heard that some pass KYC on documents taken from google.

[trimulia]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

in some project also KYC is required to bounty hunter,yeah i'm agreed it's really killing cryptocurrency and altcoin

[spadaccino]

It needed to be regulated somehow if you want to really take in consideration in everyday world.
ICO and not more just a scam coin ( but be careful because you gonna find already tons of that ) but is related with REAL firms.
And because firms are real , they have to declare how they gain the profit.

I still think that for going out on a ICO for many incorporations is really the game-changer because you do not need to fulfill all the burocracy stuff to let anyone contribute on your next thing. So differently in IPO or any other for of letting other buy some part of the firm , ICO if is done with good purpose will still be here for long time.

Anyway many people still think that crypto related thing is something you can do in illegal mode set.
It's definitely not true.
Even if you want to protect your pricacy, BTC or ETH is not the answer to make your illigal stuff. So start to think how crypto could really solve issue of daylife in a "TRADITIONAL DISRUPTIVE WAY ".

Cheers

[chenczane]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC or Know your customer is not kilking crypto. I don't see anything bad or negative about this. This KYC is for protection for anti money laundering and scammers. If this way will keep me safe, i'll accept it.

[eaLiTy]

KYC or Know your customer is not kilking crypto. I don't see anything bad or negative about this. This KYC is for protection for anti money laundering and scammers. If this way will keep me safe, i'll accept it.

If an exchange is asking for your private documents they have the responsibility to keep your identity secure and how are you sure that they are keeping it safely in the context where you are hearing exchanges being hacked and loosing their coins, how what guarantee is there that they will be protecting your documents when they cant even protect the coins they are holding, we need to have a combination of everything and you cannot run a business without following the rules and so exchanges are forced to ask for the documentations.

[addeqt]

I agree with that. Bitcoin as defined and invented by satoshi aims to be a anonymous payment method. If those company is requiring personal data of its customer, one of the main essence of bitcoin is altered. And by the way, that is even a policy that is imposed by the government and not the wallet provider or trading platform wants. And since it is required by the government it is no far that the government could use those information to track someone they want. I hope there are firm that will not follow those KYC or will impose a great one way part of knowing their customer and not sharing those information no matter what.

[steveabrahams]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Well almost all ICO right now needs the investor to verificate their KYC nowdays especially when you invest with big amount of coins. I think it's because the regulation and the ICO/project owner won't break the laws. What i hate is when bounty participants needs to fill the KYCs too which is nonsense for me.

[uszaty43]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC or Know your customer is not kilking crypto. I don't see anything bad or negative about this. This KYC is for protection for anti money laundering and scammers. If this way will keep me safe, i'll accept it.

But now there are a lot of people asking for KYC for everything that concerns about cryptos, and that is shit, no one likes to give your personal information just for giving out some money, that is absurd.

KYCs are a must for ICO's, but not for anything else.

[Rascar Capac]

It's true, it goes against the philosophy of cryptomony and anonymity. Especially since this data can be sold to a malicious third party... But it probably allows more security with big exchanges, even if everyone can give a false identity...

[cunguks]

Somehow, I also disagree with the system that requires us to do KYC. And in fact, almost everything now has to be with KYC first. I got scared because of this KYC, even though I don't know my data would be misused or not.

[leviathon]

I agree! I would never submit my very personal details to any random ICOs just in order to get a couple of tokens. And even if the ICO and KYC happen to be legit, there is always a chance of poor security and theft.

[jerjer]

I think KYC thing will give crypto space some problems. Wether we like it or not but some criminals doing transactions comfortably in the crypto-space. Through KYC, at least some of them  may traced.

[DAVETUN]

KYC is not encouraging lots of investors as we all want to keep our privacy in the real world,to avoid any form of interferance with our Private life.If I believe in abproject and its require KYC for its investor,will still go for it.

[Argoo]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Checking KYC is a very unpleasant procedure, which, if possible, should be avoided. Investors may not buy tokens in the ICO campaign, which tries to get your personal information from you. We can also apply only to decentralized exchanges and exchangers that do not require the provision of such data. If many will do so, centralized exchanges and exchangers will decline.

[Haiduongbg]

I disagree with your opinion. KYC is facilitating the wide adoption of cryptocurrency. If there's no KYC procedure, I'm 100% sure that governments will do whatever it takes to destroy crypto, so most ppl will not invest into it because they're afraid of punishments. KYC procedures elevate crypto to the next level of adoption, otherwise crypto will only be used by some geeks and criminals.

[7788bitcoin]

Well almost all ICO right now needs the investor to verificate their KYC nowdays especially when you invest with big amount of coins. I think it's because the regulation and the ICO/project owner won't break the laws. What i hate is when bounty participants needs to fill the KYCs too which is nonsense for me.

I can understand why people participating in bounty campaigns are forced to fill their know your customer  forms simply because there are people abusing it and if some companies are asking then you have the choice whether to participate in them or not, so you have the choice and these projects must follow the laws of their parent country too.

[MystereToy]

Any new project need investors. In an early contribution process of a project, KYC forms can help companies in gathering enough contributors and allow the project to grow as they will be more confident.

If you want to keep your privacy, you can always get somebody else to fill the form and transfer your crypto to whatever wallets that person owns. The transfers are hardly traceable so they wont find you but i don't really see the point of not filling those forms if you believe in a project.

Regarding Exchanges, this is an other story ...
  

[kimochidesh]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

That's true...one of USP's of Cryptocurrency is that it is anonymous but transparent. Now with KYC form anonymity feature is shattered. Many people invest in crypto because it provides them the financial anonymity freedom and global investment opportunity. Moreover providing Personal detail to someone who is not known is also a concern of personal security

[criz2fer]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

That's true...one of USP's of Cryptocurrency is that it is anonymous but transparent. Now with KYC form anonymity feature is shattered.

From the start, it was destroyed by the scammers which are creating fake projects thats why KYC and other regulations where implemented by some projects and governments. Banks already dont accept money from crypto because they dont want to involve in such scams.

[freshm4ker]

KY can kill. The majority of users or holders of crypto prefer privacy. KYC is the last thing we need. The government wants the rule that they say for the protection of individuals to prevent criminal activity but the main reason is tax. Then they need KYC so we have to build hope on a decentralized exchange.

[laserfocused]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC is not killing crypto, bad icos were killing crypto.  Quality is the key.  People will bust through concrete for a high quality ICO and KYC will not be an issue.  I have experienced this first hand. Over-regulation could be a problem though, but its goes deeper than KYC

[1BTC EQUALS 1CAR]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Why would someone be hesitant if he's not doing illegal? Actually, it gives more credibility to the market and it helps us to prove that we are against money laundering and cryptocurrencies are not made to be used for drugs and other criminal activities.

[1C6fV5DtakfKANLJ8GUV7hCaA]

You shouldn't be  worried about KYC. We have this forum. Everything we need is here. Eventually these scam ICOs will disappear along with those exchanges exploiting the public.

[feny.blackpink]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Yeah. The value about bitcoin and cryptocurrency are decentralized and anonymous.
But it seems to be the government make a regulations about its security, so KYC needed to crypto holders.

[Human_Copy]

I heard that some bounty campaigns require the KYC in order to get tokens earned by participants. Usually the people do not trust their personal data to unknown third parties.

[edsnowangel]

I heard that some bounty campaigns require the KYC in order to get tokens earned by participants. Usually the people do not trust their personal data to unknown third parties.

Yes and this KYC ICO or bounties should not be promoted they want to collect more data to be able to use those information and data in their hidden agenda because then have all the personal information and Identity verification of the person so they can mess the life of that person. I think this should be stop for the safety of the people that are using bitcoins and cryptos

[V-t.Ester]

Being an incognito attracts people. Exchange markets and ICO managers understand this. However some of exchange houses provide verification and a lot of their clients stopped using them. The same is with ICO. I don't like this new rules with KYC in some bounties. No one knows what for they need personal information about their clients.

The ICO and exchange houses need KYC to comply with the regulation of their respective country. They just don't want their business to be effected by the government agencies. That is the reason why they need KYC data. While the exchange houses asking for KYC data is ok, I don't support ICOs asking for it. Even though they have regulations to comply with, but when we are not sure about their own identity, we don't feel comfortable to provide KYC to them. Because no one know what kind of scam it may open up later.

So,you mean, verification in exchange markets is normal? I don't have to afraid of it?

[aintnopassincraze]

You shouldn't be  worried about KYC. We have this forum. Everything we need is here. Eventually these scam ICOs will disappear along with those exchanges exploiting the public.

I doubt a forum can save a whole space that is much bigger than it. Don't think we wield that kind of power around here but I could wrong on the matter. In any case if KYC is pursued further, DEXs will flourish next and people will adapt.

[bvc_Master]

Yes!This's a cryptocurrency and private space for payment!

[blue_city]

Yes,i also think so
Government can use it to manage ico and cheater!

[phpartisanmaster]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

KYC is really a good thing because there are more people today who prefer on investing on a specific coin that has KYC because they believe that a platform that has a kyc has a higher rate of becoming successful more than an ico that is not required to have a KYC.

[eternalgloom]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Why would someone be hesitant if he's not doing illegal? Actually, it gives more credibility to the market and it helps us to prove that we are against money laundering and cryptocurrencies are not made to be used for drugs and other criminal activities.

I don't agree at all with that, I would not trust most of these exchanges with any of my personal information and documents. That's how you become a victim of identity theft.
Besides, KYC is a thing from the USA, I don't see why they need to impose it on the rest of the world.

I couldn't care less that Bitcoin is being used for illegal stuff, it's the same with cash, bank accounts etc.

[edsnowangel]

When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.

Why would someone be hesitant if he's not doing illegal? Actually, it gives more credibility to the market and it helps us to prove that we are against money laundering and cryptocurrencies are not made to be used for drugs and other criminal activities.

I don't agree at all with that, I would not trust most of these exchanges with any of my personal information and documents. That's how you become a victim of identity theft.
Besides, KYC is a thing from the USA, I don't see why they need to impose it on the rest of the world.

I couldn't care less that Bitcoin is being used for illegal stuff, it's the same with cash, bank accounts etc.

yes KYC actually ruins the agenda of ethereum and bitcoin which provide n anonymous financial system