Are You Afraid of KYC?

[Tylev]

KYCs are not the problem here. The problem I see is where you are entrusting your information to.  Because their are certain ICOs that will only fish out your information as it has more value for them rather than the token they are creating. KYCs are a requirement of some countries' government as it is their way of regulating or being in touch with their citizens. What I would normally do before trusting my personal information to other entities such as ICOs or even exchanges I will research on them if they have a good background.

Are you sure that the governments of some countries, such as the US and China, forbid their citizens to participate in the companies of the generosity of ICO, that is, to advertise these campaigns? I think that for this category there is no such prohibition, because the sense of conducting a KYC check is to exclude money laundering or even their use for illegal purposes. That is, the ban applies to investors, to individuals who invest their money in ICO projects. In addition, these countries openly stated that investing in ICO projects is a risky investment and recommended that their citizens refrain from such investment. Therefore, since the participants in the ICO generosity campaign are not investors, they are not required to undergo a KYC review.

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[1BTC EQUALS 1CAR]

The problem with KYC is you can't tell if the team behind the ICO that will conduct the KYC process is trustworthy. Why I said that is because even they hire a third-party to verify documents, participants told in this forum that they are just sending fake documents but they are still approved so that is why I am afraid of KYC.

[Flor1982]

There is really nothing to afraid of KYC like you do as it was required by the government for everybody's security to ensure that Bitcoin will not be use in illegal activities like money laundering and terrorist funding. As long as we are legit persons and nothing to hide then KYC will be just a piece of cake but make sure that the projects that we are joining is legit too to ensure that our data of privacy will not be steal.

[Chorsday]

It depends on the ICO. The same goes for credit card company. Look no further than Equifax hacking a year or two ago. Their server was hacked and massive personal data of users was stolen. There is no 100% data proof method and there is always a risk when you give out your personal information. In other words, do thorough research on the ICO until you feel comfortable giving them your KYC data. Otherwise, do not invest in Cryptocurrency as this new technology itself is already a risk.

[ashaksagnis]

I do not like the KYC procedure because you can never know where your data will be used. There are many suspicious Ico projects where KYC required. There was a project that tried to convince- KYC in all projects. funny.

[senin]

Bounty hunters need not be afraid of checking KYC, but ignore it, or demand information on what basis they require us to pass a KYC check. This check should only apply to investors, but not to members of the ICO generosity campaigns. Some campaigns have already agreed to this and require a KYC review only from investors.

[qwerty12]

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

Well, with so many cybercriminals, as you have said, my main concern for KYC is the possibility of personal data that can be disclosed or misused by irresponsible persons for illegal activities. I think this is a serious problem, how a company can maintain and guarantee our personal data and identity will not fall to irresponsible people.

[kamfragila]

I'm totally afraid of KYC done by some small and big ICOs. There is a possibility:
1. ICO was a scam to get money from investors and get their IDs scans to sell them on black market
2. ICO wasn't scam, but their security wasn't good enough and ID scans was stollen
3. ICO was really good, I really want to get some tokens by ICO or bounty, but i can't participate because my documents are not aproved maybe for reason that i don't have passport

I think there shouldn't be KYC for individual investors because what it's the reason to do that? For acredited investment funds or other investent business there can be bacause there is need for have proofs of their actions

[Naficopa]

Nope at all. I'm not afraid of KYC.
Because I believe that KYC is more effective for bitcoin users.

So, I'm happy with KYC, nothing to worried about it.

KYC is not a problem in itself. The basic problem is sending sensitive data to a company with dubious public trust. Such a company can actually work anywhere and may not have conditions to protect users' data. There is no guarantee that the data will not be used for criminal purposes.

[cryptocity90]

KYCs are a requirement of some countries' government as it is their way of regulating or being in touch with their citizens.Identity and KYC is an area where we can expect to see continued innovation.

[akishang]

KYC is not a problem. The process behind it is the problem. It takes a long time for them to verify and its causing delays on the token distribution. I haven't join a bounty wherein I receive a reward without delay caused by KYC. There are people to blame because of the delay on sending the requirements but others who were able to complete the process shouldn't be affected by them.

[dark1234]

KYC is not a problem. The process behind it is the problem. It takes a long time for them to verify and its causing delays on the token distribution. I haven't join a bounty wherein I receive a reward without delay caused by KYC. There are people to blame because of the delay on sending the requirements but others who were able to complete the process shouldn't be affected by them.

I agree with you ... until now KYC is one of those loaded to get distribution of tokens in one of the ICO programs or campaign bounties, it's just that the KYC process is different in each project and some are complicated. and become a control for us and added vertices that are still waiting a long time and sometimes delayed

[marcbitcoins]

Although the governments is spreading awareness regarding data privacy importance but still i will make myself obligate to comply to the KYC requirements because there is nothing we can do about this KYC policy due to it is a government law and we need to get our rewards too. Except if you are not interested with your token rewards then better to not to join this investment. Just make sure that ICO is legit to avoid your data will not be steal.

[Danilotot]

so we do not have any problems with KYC especially for the ico's because they are the only thing that we and their customers think about here, it's also a good idea to avoid scammers and hackers.

[blnchaguilar]

I'd never do KYC airdrops or send any fragile data to unknown developers of any project. I feel a bit more safe if doing the KYC on a major exchange.

[Spaffin]

We, well know what a large percentage of fraudulent ICO projects are among the total number of ICO projects. The ICO teams themselves do not pass such a test sufficiently and therefore give them the right to collect confidential information of citizens, this is a great stupidity. I think that in this way the states want to discredit the decentralized Crypto currency and this is exactly in the hands of the various unscrupulous ICO teams. In the verification of KYC, nothing good for people involved in crypto currency, there can not be.

[Hasbro27]

I am not afraid of KYC because I think it is good for the future, which is my concern, is KYC data safe? because kyc data is very important because it is someone's personal data. if the data is safe then I don't have a problem with KYC

[ani4]

  I am afraid of KYC. I dont even publish my name anywhere, I dont use any social network because dont want someone to gather my privat information. Any database may be stolen or sold to criminals. I will reject any ICO program or bounty campaign which requires KYC procedure. I live in new world with new opportunities which bitcoin gave us

~This..

KYC/AML is only about controlling and limiting the poor... the decentralized movement has the potential to take every single one of us with it.. the Legal system never did and never intended to, it has always been a fraud/deception in order to control under the guise of "civilisation", whilst excluding the vast majority of the population on Earth and only preserving freedoms and privacy for those at the top of the pyramid.

Make no mistake, the Legal system (fiat is TENDER FOR LAW) will go cashless and remain tyrannically surveilled financially (for the poor, as is already the case)

The good thing is that the innovation and options will always be present in the decentralized/open-source elements of the crypto space, and anyone with any concern of their privacy or freedom will be sure to avoid all forms of the beast, legal tyranny.

[bitcoinveda]

KYC can be used scamers to get your personal information.
Be very carefully.

Yes, i do agree what you shared your information but there are many good companies who will not share any information with the others. There are many major ICO companies launching which they will not share any information uploaded by you.

[bozo1]

Veiris is excellent company that shows you will be in good standing and that will help many people