Are You Afraid of KYC?

[imstillthebest]

Just ignore exchangers,ICO projects or any kind of crypto site which ask you for KYC because crypto world should be anonymous without any KYC with less fees,more privacy,faster transactions.

i feel you bro .  i also hate kyc and i also said once that crypto is anonymous thats why kyc shouldnt be implemented at all but until i discovered the real purpose of kyc i also understand its impoetance and why some companies require it . 

We shouldnt be afraid with kyc but as long we are aware the site that we are using with it . the only reason on why i avoid kyc is because i dont have a passport and i drivers license because i dont drive a car , a motorcycle , etc and i dont also travel outside of my country  though i do have any other legal id's  .

My only wish is that kyc could also support other government issued i.d so that many users wont find it hard to join the kyc supported project .

[izanagi narukami]

Every new company need to be regulated because that's how this work if they want to keep operated.
As we know, crypto is the best way to do money laundry so KYC is making this more difficult to happen.

For me, It's not a problem as long as I can trade with safe.
If you do not like it, may this time you should adapt or leave !

[BeGoods]

It's correct. I hate KYC. I don't want to disclose my personal information to anyone. Some ICO even requested to provide personal address and proof. What do they need that information for? Any database may be stolen or sold to criminals. I will reject any ICO, which requires KYC.

There are differences of opinion regarding this. I think more users refusing because the essence of blockchain use is decentralization? privacy is maintained. if kyc is applied it will certainly eliminate that essence right ? nowadays there are lots of exchanges or ICO like you said asking for data verification. that's too weird for me.

[lepbagong]

Actually I myself do not agree with the existence of KYC, because someone's priority must be given to those we actually do not know and who may not be accountable, but because this regulation must be implemented, it must be accepted. but usually I see first whether a project is KYC or not, if there is as much as possible I will avoid it, but many also just provide information after the ICO is finished.

[goaldigger]

Being online is very convinient that even though you provide your personal details to third party, you can easily do whatever you want and reach to someone instantly. There are always positive and negative sides of each story. If being online can provide us that things, it can also betray us by making us prone to hacking and other online steelings and crime.

[Argoo]

First, not a single ICO team is willing or able to provide information about which regulatory act gives them the right to require bounty hunters to undergo KYC testing. The legality of this requirement is dubious to this day.
Secondly, the KYC verification procedure, if it is considered legal, should be carried out simultaneously with joining the bounty ICO campaign. In any case, the right to pass it at the initial stage should be granted. In most cases, it now turns out that bounty hunters are allowed without any problems before the ICO project is advertised, and after the work is completed, walking around the circles of hell begins. Information about the KYC inspection is hidden, then a tight deadline for its passage is set, the procedure itself is not regulated and has a number of contradictions and cannot, as a rule, contain all the national specifics of the requirements for the documents provided. In general, we spend a lot of time and nerves and, as a result, we may be unlawfully denied for any far-fetched reasons and we don’t get any earned tokens.

[Bitkocha]

I don’t like it when the project requires you to go through KYC . There were too many scammers and nobody knows what they can do with documents later. Those who want to avoid passing the KYC, can simply buy other people's documents. I think that KYC is useless.

[natagor]

The thing is that nowadays all of us go through KYC and no one asks our permission. More than that most times we're unaware of the KYC being applied to us. When someone joins a new freelance platform as a client or as a tasker, or does an online purchase at a new online store, or registers a new account at any of those delivery apps - Menulog, Uber, etc - all these require a user to undertake a proper KYC. I'm sure most of you had to upload their driver's licence or any other ID or provide their bank/card details to initiate a simple process of delivery or payment. It is actually same KYC as the one done for ICO projects. The difference may be in complexity only but not the nature of the fact that we cannot say "no" to all those merchants, if we want our yummy pizza right now
Btw, there's a new era of KYC coming KYC for STO (!). This is going to be far more complex.

[mich]

I am not afraid of the KYC procedure because I have nothing to hide.
I only see reason to fear KYC procedure if you are pretending to be another person then you really are.
We identify ourself everyday with proper identification, so what makes this any different, because it is crypto?
If it was required to KYC, I would do it.

[Tylev]

The KYC check itself is not done in an honest way. In general, I believe that it is illegal in relation to bounty hunters, but if it is carried out, it should be given the opportunity to pass it simultaneously with joining the ICO bounty campaign, since there is no single form of passing such a check and some people are not able to provide all the required documents. If such a check is carried out at the end of the ICO, then some of the bounty hunters cannot pass it, and this is not fair to them. Moreover, what kind of honesty can be here, if in most cases we do not know to whom we send our identification data and copies of our passports and in many cases it turns out that we send them to fraudsters.

KYC is very often not carried out fairly or with fair notice, that is a large problem.   If its levied like a demand over the participants who were not previously warned of such a requirement to being paid, it becomes a way to restrict payments which is not the real nature of KYC.     
Both parties should argue at the beginning of the campaign so its clear and open to all, that shouldnt have to be stated as a special case as its just fair play.      The fact nobody has drawn up proper procedure is unfortunate for everyone and gives a bad impression of the whole concept.

I consider the KYC check against bounty hunters illegal, but if it is carried out, then such an opportunity should not just be indicated on the first page of their ICO topic on this forum, but given a real opportunity to join such an ICO signature when joining the ICO campaign.
At this time, on the first page it is only indicated that the KYC check is possible or will be carried out, but there is no real possibility for those who wish to go through this check right away. Therefore, none of the participants of the ICO signature campaign knows what inuations and what documents from them are collected at the end of the ICO and whether they can provide such documents. That is, we are offered to work, and the possibility of earning new tokens by the ICO team is not guaranteed. It should not be.

[timoshani]

I treat verification very alerted after a large number of a scam. Just think, why to the fraudulent project your documents? But into the time I understand that KYC is one of the ways of the fight against dirty money.

[BeGoods]

Actually I myself do not agree with the existence of KYC, because someone's priority must be given to those we actually do not know and who may not be accountable, but because this regulation must be implemented, it must be accepted. but usually I see first whether a project is KYC or not, if there is as much as possible I will avoid it, but many also just provide information after the ICO is finished.

Many people join crypto because they want privacy. why KYC must be applied ? of course it will remove the anonymity of crypto
itself right? I never agreed KYC existed. I will still want Crypto to be anonymous and decentralized.
many people join crypto because they want privacy, why KYC must be applied of course it will remove the anonymity of crypto itself right? I never agreed KYC existed. I will still want Crypto to be anonymous and decentralized

[onrise]

Just ignore exchangers,ICO projects or any kind of crypto site which ask you for KYC because crypto world should be anonymous without any KYC with less fees,more privacy,faster transactions.

People will definitely not be interested in such exchanges or ICO where they ask for KYC as any new or unknown people whom people do not recognize will find it difficult to ensure that they cannot misuse the data given to such people. Also they are not licensed by government to run such exchanges which can make them trustworthy.

[Cryptoprimes]

Actually I myself do not agree with the existence of KYC, because someone's priority must be given to those we actually do not know and who may not be accountable, but because this regulation must be implemented, it must be accepted. but usually I see first whether a project is KYC or not, if there is as much as possible I will avoid it, but many also just provide information after the ICO is finished.

Many people join crypto because they want privacy. why KYC must be applied ? of course it will remove the anonymity of crypto
itself right? I never agreed KYC existed. I will still want Crypto to be anonymous and decentralized.
many people join crypto because they want privacy, why KYC must be applied of course it will remove the anonymity of crypto itself right? I never agreed KYC existed. I will still want Crypto to be anonymous and decentralized

Yes, decentralization is the core function of cryptocurrencies. Please don't support KYC, any consensuses besides Proof-Of-Work (like Proof-of-Stake or something), or other things supporting centralization.

[aseemhamza]

The subject has nothing to do with fear .. I am Muslim and I have read the opinions of Muslim scholars in this position and I know that I should not send the identification papers to anyone because there are used these papers in illegal acts

[stefany101]

Honestly, I am not afraid to take KYC everytime a project/s where I participating with requires it but I hate doing it for the reason that, I am still a student and I am lacking of valid Ids in order to be verify a KYC. Most people also hate it, for they are obligate to do it and most of their time was consumed by it.

[boled]

same as you, dont have a problem with KYC, in fact I have done a lot of KYC in many places, Banks, Crypto Exchange Market, Campus, as an ICO investor, bounty hunter, even some airdrops, malls, telecommunications companies and many again.
I am not worried about data theft, but I do feel annoyed with some insurance companies, brokers and some financial service companies. They are very active in calling me, always there every week, I wonder where they can get my personal data, even the medical record data they have. This is not a concern, not scary too, but annoying.

[simona25]

Yes, I, too, are already pretty tired of KYC. They are everywhere. At first I was very afraid to share my information, but then I overcame my fear, but the distrust remained. There is no guarantee that a stranger will use your information, and information for KYC is being requested more and more. With the process of putting on the KYC you need to approach carefully and individually.

[Johnzky]

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?

Nope this won’t happen in the near future as you see its been more than 9months since you posted this thread but no exceeding KYC requirements happens so far

Though KYC is not to be afraid but our personal dats is what more our concerns because this can be used for something out of our control and thats alerting specially that theres an issue that millions of KYC sended from various sites has been hacked

[NavI_027]

Having a KYC when doing withdrawals from exchanges or digital wallets is not a problem I think because it was reasonable. Like on the digital wallet I used, it requires KYC because they only want to verify that the source of my income do not came from illegal stuffs and can have the power to hold my savings if that's the case, it was all fine for me. But saying that every ICO now requires KYC as well? Nah! That was too much already. I strongly disagree on that concept because I can't see any valid reason why they wanted to get the vital infos of their buyers.