Why KYC is important?

[mybtcasset]

kyc is one the best move for transparent  ico where we submit all our documents and ico runs with audited firm and legal firm so we can respect KYC option and submit accordingly

[1715181237]

1715181237

[1715181237]

1715181237

[Teamsah165454]

KYC is the way many ICO projects are used to verify the identity of investors to limit fraudsters and focus on the markets the project is targeting. I support KYC because it helps reduce fraudsters and wealthy investors who want to dominate a coin by buying a lot.

[torry28]

It shouldn't be important at all because crypto suppose to be anonymous 

Would agree with this. I'm also think KYC only needed for investors to prevent from AML. Bounty hunters shouldn't be needed to KYC because most of them are "annonymous" and didn't take any part of project's investment

[felicity06]

A lot of ICOs are facing a problem from their investors due to the KYC. Voluntarily complying with KYC regulations provides many advantages to the Offeror and its investors, even if they are not currently explicitly mandated to enact such a process.

1. Cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes. Thus, not running such checks poses a long-term risk to a project. The Financial Times reported that New York Stock Exchange-backed GDAX says it “plans to list only a fraction of the hundreds of new digital coins that have been invented this year”

2. Voluntary KYC compliance may help ICOs reach a larger global audience and expand the number of jurisdictions in which they can take place. Such compliance allows easier reach to investors in America, Britain, Canada and elsewhere.

There are other restrictions also imposed from SECs and banks which greatly limit the activity of the company in the future.

We know not everyone is happy about KYC and some people don’t agree with it ideologically, especially when it comes to cryptocurrencies, where transfers are anonymous, or at least pseudo-anonymous.

However, for the adoption to seamlessly occur, the company holding the ICO needs to have KYC, which otherwise will create issues for the company in the long run, which is bad for both the investors and the holder of the company.

KYC is not done by a company to know where their money comes from. To be honest, a company rolling out its ICO cares about the cash inflow and not about their identity. It is a means of due diligence so that they are not prosecuted by their country of operation.


Enkidu has it's pre-sale going on right now. The minimum viable product has been developed before the pre-sale.
Join our Telegram group for more information: https://t.me/enkiduofficial
Join our token sale here: https://tokensale.enkidu.io

That's very informative....  For me KYC has an advantage and disadvantage as well....  It is become an advantage to us because it is now one of an important tools to combats illegal transactions in international finace field.... There are a lots of people who thought that  it is not significant but in the world of bussiness it is important.... It protects them also from illegal transactions but on the other hand it has a disadvantage as well...  Yes that's true....  KYC will be good if the ICO that needed it is not a scam....  We are working here secretly to ensure also our personal security but due to this KYC we are on a risk.... Why.... Because that's our personal information and probably scammer will used it in illegal purpose....  But for me KYC is great...  We just hoping that it could be a great solution to avoid scam....  We are hoping so....

[Nikitavoz]

KYC is very important for any project. All documents are submit KYC form. The requirement all depend on KYC from. We r submit the project KYC then the easy task for project. So really all real documents and real in formation on KYC from.

[azizfikri2]

Nice info. KYC is really important especially for some people to avoid anonymous people for get more benefits. But anothers side KYC maybe is a trouble for some people because some many people don't have criteria for KYC (in this case use passport). Maybe in next time every airdrop or something else need KYC for user identity

[Jednopivo]

It's important as it help to stop money laundering activity and also fraudulent activity. So many scams and scammers out there and KYC helps eradicate it. Banks use it to better understand their clients.

[OuterTech]

KYC is essential to the ICO project because it will help the project do not face the fact that one buyer buys too many Token, which has a big impact on the exchange rate of the project when the Token is distributed. IMO, KYC should only apply to investors, and with bounty members, airdrop is not necessary because bounties and airdrop is less than 5% of the total Token sale.

[Teamsah165454]

KYC is stands for "Know Your Customer" and i think this is a system that identifies the true identity of a participants. And this KYC is important in order to validate cheaters and those scammers. But sometimes it can be used also by those scammers also by pretending to have a n ICO and will ask your information for their own benefit like using your information for bad intention and  this is the disadvantage of KYC system implemented.

[@baracitamon]

Nice info. KYC is really important especially for some people to avoid anonymous people for get more benefits. But anothers side KYC maybe is a trouble for some people because some many people don't have criteria for KYC (in this case use passport). Maybe in next time every airdrop or something else need KYC for user identity

But the coin maker's KYC goal is not exactly right, I think, if I bought that coin and I confirmed my identity, but after receiving the coin I gave you, you are the grasp. I do not have the right to decide so I KYC with the publisher as well. I think KYC is not really feasible and useful.

[yanixbtc]

A lot of ICOs are facing a problem from their investors due to the KYC. Voluntarily complying with KYC regulations provides many advantages to the Offeror and its investors, even if they are not currently explicitly mandated to enact such a process.

1. Cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes. Thus, not running such checks poses a long-term risk to a project. The Financial Times reported that New York Stock Exchange-backed GDAX says it “plans to list only a fraction of the hundreds of new digital coins that have been invented this year”

2. Voluntary KYC compliance may help ICOs reach a larger global audience and expand the number of jurisdictions in which they can take place. Such compliance allows easier reach to investors in America, Britain, Canada and elsewhere.

There are other restrictions also imposed from SECs and banks which greatly limit the activity of the company in the future.

We know not everyone is happy about KYC and some people don’t agree with it ideologically, especially when it comes to cryptocurrencies, where transfers are anonymous, or at least pseudo-anonymous.

However, for the adoption to seamlessly occur, the company holding the ICO needs to have KYC, which otherwise will create issues for the company in the long run, which is bad for both the investors and the holder of the company.

KYC is not done by a company to know where their money comes from. To be honest, a company rolling out its ICO cares about the cash inflow and not about their identity. It is a means of due diligence so that they are not prosecuted by their country of operation.


Enkidu has it's pre-sale going on right now. The minimum viable product has been developed before the pre-sale.
Join our Telegram group for more information: https://t.me/enkiduofficial
Join our token sale here: https://tokensale.enkidu.io

Thank you for you very informative posts. But is in some cases KYC will be an aide to be scammed because of the personal data they took from a certain KYC information. Anyway, there is always advantages and disadvantages in everything. It is for us to protect ourselves.

[Leyss]

KYC is stands for "Know Your Customer" and i think this is a system that identifies the true identity of a participants. And this KYC is important in order to validate cheaters and those scammers. But sometimes it can be used also by those scammers also by pretending to have a n ICO and will ask your information for their own benefit like using your information for bad intention and  this is the disadvantage of KYC system implemented.

To allow the ICO team to conduct a KYC audit, demanding confidential information from investors, states would first need to ensure that such an ICO team is not itself scammers. We all know that the percentage of fraud among ICO teams is at least 30-50 percent, and at the same time they are given the right to collect such important information. This, at least not logical.

[Claudyah]

It shouldn't be important at all because crypto suppose to be anonymous 

many users of crypto currencies start to contradict themselves, because on the one hand everyone wants to legalize the crypto currency and the recognition of Bitcoin by its authorities so that it becomes a full currency in every country. But on the other hand, everyone wants to have anonymous income. This can not be.

the most important is for the security of your own wallet from the second hacker avoids the use of multiple accounts because it can trigger crime as well as fraud or others. And the latter is likely with the presence of KYC local government more control over the economy of its citizens.

[septyadf1]

KYC is know your customer. Careful to share the KYC information.
So if sell the  ICO project token. It need to for the customer information. So that the reason of need for the KYC. But ethereum also need for the token sell. So learn the information before sell. So follow the rules and guidelines. It save you information and no one can get your information. It safe. So share the KYC this information important of all process.

[automaticmoney]

Kyc is important as per AML rules every financial holding or else any return on investment need Kyc as per anti-money laundering policies it is secured to submit KYC for any coin for future growth

[Elseye]

It provides fairness - individual caps are important in terms of token/coin distribution, also it deals with law difficulties.

[trrewqs]

I do not consider KYC an important component of ICO's success. There are many examples where, with participation in the ICO, KYC was required, but as a result they scam

[waldocarter]

If the project requires verification of verification from investors, bounty members - then the development team must pass it, and we need to see that all the team members, the developers, have also been verified

[waldocarter]

If the project requires verification of verification from investors, bounty members - then the development team must pass it, and we need to see that all the team members, the developers, have also been verified

And it will be fair to everyone, and I think this will greatly reduce the number of scam projects. All the problems are that you can not be sure when you send your documents to the KYC, that they will not get to the scammers and will be used for their own purposes.

[xsantana]

A lot of ICOs are facing a problem from their investors due to the KYC. Voluntarily complying with KYC regulations provides many advantages to the Offeror and its investors, even if they are not currently explicitly mandated to enact such a process.

1. Cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes. Thus, not running such checks poses a long-term risk to a project. The Financial Times reported that New York Stock Exchange-backed GDAX says it “plans to list only a fraction of the hundreds of new digital coins that have been invented this year”

2. Voluntary KYC compliance may help ICOs reach a larger global audience and expand the number of jurisdictions in which they can take place. Such compliance allows easier reach to investors in America, Britain, Canada and elsewhere.

There are other restrictions also imposed from SECs and banks which greatly limit the activity of the company in the future.

We know not everyone is happy about KYC and some people don’t agree with it ideologically, especially when it comes to cryptocurrencies, where transfers are anonymous, or at least pseudo-anonymous.

However, for the adoption to seamlessly occur, the company holding the ICO needs to have KYC, which otherwise will create issues for the company in the long run, which is bad for both the investors and the holder of the company.

KYC is not done by a company to know where their money comes from. To be honest, a company rolling out its ICO cares about the cash inflow and not about their identity. It is a means of due diligence so that they are not prosecuted by their country of operation.


Enkidu has it's pre-sale going on right now. The minimum viable product has been developed before the pre-sale.
Join our Telegram group for more information: https://t.me/enkiduofficial
Join our token sale here: https://tokensale.enkidu.io

from a project party claiming only a handful of countries can accept, therefore we have to fill out the original identity.
but what I'm worried about, if some of them are scams, I'm afraid that personal data can be stolen,
so be more careful and get accurate info.