KYCs (Know your Client) is killing crypto

[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.