Why KYC is important?

[Vangardo]

Much has been said. Everyone has an opinion. Personally, I think that verification is necessary in any case. As minimes to make investments more democratic. And it became possible to track fraudsters.

[trumhacker04]

I agree with what you share, kyc also aims to remove phishing accounts, bot, I think kyc can not lack in the project

[extremegym]

KYC is important because their are so many bots who are cheating the site and earning big, so to stop that spam they are asking KYC so that it should be clear that the player who won big is a real one and not a bot who is cheating it.

it is unlikely for them to be a problem to get fake identity data.

[devilzero]

KYC is important because their are so many bots who are cheating the site and earning big, so to stop that spam they are asking KYC so that it should be clear that the player who won big is a real one and not a bot who is cheating it.

it is unlikely for them to be a problem to get fake identity data.

Yes, I can believe that fraudsters hold a fake ICO plan to cheat people's KYC certification materials, which is entirely operational.

[Cardan0]

For quite a few backers of new cryptos judge Know Your Client is unnecesary for an limited contribution and a  superflous demand with undesirable risks.

[ElianaMaria]

Nice article, thank you for the info.

I also agree KYCs are important.

[bevthazor]

I think some ICO's asked for this check to prevent fraud and money laundering, several accounts. I think the KYC process will really ruin the idea of cryptocurrency investment.

[beskid]

I agree that the KYC procedure is necessary. But how can I be sure that my data will be used for the intended purpose? I can not trust anyone who requires a KYC procedure. I would have given my personal data without reflection, if the ICO projects had been officially registered legally.

[fb26]

KYC is important to participate any ico because of some countries already regulated the crypto currency exchange so in coming days the KYC willl be important to participate any ico. KYC means KNOW YOUR CUSTOMER. in kyc you will know who is the investor.

[sirminesalot]

KYC is used to identify each investor to prevent money laundry. but now it seems bounty also uses KYC where the participants are required to verify to prevent fraud

[raldix00]

For me kyc make investor limited. But for bounty iyc is good. Because it didnt make the cheater enter inyour bounty. But today there are lot of fake kyc so still useless

[Electrohell]

KYC is important because it is needed to load the data of someone who participated in a project, I think for kyc data needed only a ktp is complete, sometimes there are kyc that must attach account or passport is quite complicated because maybe there are people who do not have pasport even be a burden, hopefully kyc in a project is simple enough so as not to burden

[HashWorld]

To fight against money laundering

[tranquochung]

Dear all,
Yes, KYC is important. It confirm that it is high trust project. With the KYC information, no scammers can reach. We should choose the projects with KYC request. I know that can make you trouble, but it is neccessary. Trust me!

[fulled]

Because buying ico can be a way to laundring dirty money, kyc is a way to stop this crime activity

[jackylion]

For ICO publishers, the need for KYC is due to the government or the bank they sponsor, nobody wants KYC on electronic money, because they may not be right. But that is required mandatory.

[AndyKete]

For best part of the customers of ICO think Know Your Customer is ridiculous for an small purchase and a  unreasonable burden with undesirable risks.

[btcCoincart]

KYC is what government needs to prevent money washing. They know who you are, they know how much money you sent out, that's the reasons

[Rose119]

For ICO publishers, the need for KYC is due to the government or the bank they sponsor, nobody wants KYC on electronic money, because they may not be right. But that is required mandatory.

Yeah that is required especially if you are an investors, I think it is good to do the kyc,  because this is the reason to know who are those investors and as far as I know some countries are not allowed to joined in crypto currency and I think this is one of the way for them to avoid those people who are not allowed to invest in crypto.

[oegarod]

There are old companies that come forth with the plan of an ico and for them each and everything needs to take place in a legal manner. With this, such ico projects request to fulfill the KYC norms. In most cases the investors were the one who are asked to fulfill KYC and very few bounties request for KYC.