Why KYC is important?

[Sarobeat]

This is silly! First, the very concept of crypto currency is anonymity. Secondly - hacking and distribution of personal data for money is not uncommon, and I would not want my passport data to be used not by me. Therefore, I am against the policy of KYC. 

[abderrazak belkhir]

Personally i don't like the idea of kys in the crypto world...We all encourage the crypto world because into it we can do many things without the need to show our identity

[Olajide Olaoluwa]

Kyc is important for the teams to make the project free and fair so that there will be no one complaining of not getting his or her token. And also for bounty hunters it will let them fish out those with multiple accounts and scammers.

[lositech]

For me KYC shouldn't be important, it should not be request from users when investing in an ICO, even if they want to request, people with lower contribution should not go through KYC

[yecats]

KYC  is  important but still risky  giving  some personal  information  might be used  in illegal purposes there's  a lot  of scammer out there.Some of the  bounties   KYC is for the Investor for  those who wants  to  buy token .

[Irvinn]

KYC is important only for those fraudulent ICO projects that, together with investors' money, will also steal their identification data, as well as identification data and copies of passports of credulous participants in the ICO generosity campaign. As for bounty hunters, the requirement to pass a KYC test for them is generally illegal, as they are not investors, but only persons advertising specific ICO projects.

[camport]

Thanks for the post. It is very informative. However the problem with KYC is it doesn’t allow people to remain anonymous for one reason or another. It can also be a surprise to many users who it wasn’t disclosed to

[Kb4real]

By creating a trust measure in place, to prevent fraudulent activities from the buyers.

[ProofOfLambo]

For quite a few investors of new coins consider Know Your Client is inappropriate for an limited investment and a  unreasonable demand with unwanted risks such as data leaks and others.

[extremegym]

Personally i don't like the idea of kys in the crypto world...We all encourage the crypto world because into it we can do many things without the need to show our identity.

kyc may also be useful in some cases: fewer problems with the law and a simpler identification of the buyer's personality.

[VAGR]

Meet Telegram Passport – a unified authorization method for services that require personal identification. Upload your documents once, then instantly share your data with services that require real-world ID (finance, ICOs, etc.).
https://telegram.org/blog/passport

[Alexarik]

If you participate in cryptocurrencies as a money service business you must know, and comply with KYC. For example, if you are thinking about starting a Bitcoin exchange, a Bitcoin ATM, or even an ICO, (Initial Coin Offering) you must comply with KYC requirements.

[PrivateEnemy]

Of all these explanations, I did not understand why should carry out KYC procedure for identifying Bounty Hunters? After all, they do not invest money and can not participate in the process of money laundering.

[Olatunjex]

Kyc isn't yielding the result wanted, it can be be manipulated by contributors given fake detail along with fake id presented in other to pass kyc, i won't conclude blaming them because giving out someone's identity is a dangerous decision to take.

[modmalaney]

If indeed the KYC is the terms and conditions of the country of the place of the ICO is sure a good thing and should be done if a policy like that. but it is precisely that will harm owning identity because of course, it would be very worrying and at risk for the identity that is sent. better looking safe by not joining in need KYC like this.

[jhongzjhong]

If indeed the KYC is the terms and conditions of the country of the place of the ICO is sure a good thing and should be done if a policy like that. but it is precisely that will harm owning identity because of course, it would be very worrying and at risk for the identity that is sent. better looking safe by not joining in need KYC like this.

Correct, there are so many projects that did not need KYC for their participants. Most of ICO's projects platform that has KYC are those exchange platform that they have their own wallet, you can avoid this thing if you choose which better ICO. Totally agreed that is very risky for us to share our personal data to the company that we don't know whether trusted or not.

[Denlv]

In my opinion why i think the kyc is needet to be at every bounty or ico becose imagine how less scamers become after this system invested in many projects,and icos will be easy to get soft cap less scamers more things going to happen sooner.

[BeNBeNfdnzm]

Without KYC big botter farm wil only have opportunity to invest in ICO and you will need to buy account from them.Right now it is lightly the same but KYC helping to sort the a little

[Nimbusrf]

Thank you for the information. and I'm still against KYC because we're losing our anonymity.

[extremegym]

Meet Telegram Passport – a unified authorization method for services that require personal identification. Upload your documents once, then instantly share your data with services that require real-world ID (finance, ICOs, etc.).
https://telegram.org/blog/passport

indeed, a very interesting service for providing a secure method of identification.