Why KYC is important?

[GalaxyWorld]

I do not think kc is important. I think it's a scam and forced investors make it difficult for us. At KYC we can get false information from people who are not real to confirm but it is necessary to fix

[dizzy1996]

Because in our time, in connection with the popularity of crypto-currencies, cases of fraud are more often observed. KYC is a reliable monitoring system for tranzaktsy many platforms kriptovalyut, exchanges, purse platform for funds transfer.

[erickastella]

seems nowdays alot ICO require KYC before investing in their project , probably they using it for verify each investor for avoid cheating using multiple-account for bought their token.
the other reason is , some country is blacklisted for investing in ICO , so they want make sure their investor not from blacklisted country for investment in ICO.
but , provide KYC is high risk , because we dont know , our identity use for what in future after the ICO complete.

[archierabe100]

I think this is to avoid getting their project on getting shutdown since they are getting money from people all over the world and only avoiding the country has strict on laws.. this is the reason why some project needs KYC and we dont know if our personal information is really protected.

[ynatopak14]

KNOW YOUR CUSTOMER is important for the team of ICO to have.
to make sure and have evidence that all investors are not from the restricted country.
this will give them assurance that they are safe.
though! KYC is not 100% secure, as many people are using fake identities and documents. we all know that even without ICO.

[criptoman83]

In most cases, KYC is conducted to counter money laundering. Now we are seeing how investing through token purchase becomes more legal, in contrast to 2015-2016 years. Now, institutional investors are showing increasing interest in the crypto industry and in this regard, crypto projects want to conduct the most transparent ICO's to protect themselves.

[ghost424]

The statements that can be read from this topic is actually true and some users actually bypass it but for me it is the most important part of some registrations and if it is required in some bounty campaigns we can make sure that the campaign we have joined is not planning to run away from its users. We just need to be mindful on where we send our credentials because some of them might use it for some illegal doings which might give the users a bad name so we need to make sure that it is safe to send some KYC.

[khalifa25]

this KYC thing adopted as fraud protection from financial institutions should be properly regulated as to protect the security of both parties involved.  though the intention is good, privacy is still very important, especially in the cyber world.

[altcoinhunter01]

Fully agreed with your opinion that if each ICO applies KYC then they have the option to go to many countries which have strict laws regarding it and more investors can participate in them. KYC is just an identification of the investor that he is a real person so that no fraudulent people come to the system. Don't know why people afraid to give their KYC as it is just identification and nothing more than that.

[sergienkoe]

I think that the procedure for KYC should be held only by the organizers who manage the ICO. They must pass the KYC because they must be responsible for the funds that investors invest in them.
Why should market participants pass KYC?

[YAyyas]

thanks for your information dude.
it's very important for new user like me.
sometimes I doubt to sent my personal information to someone else.

[CrimsonGT]

I think in the future most ICO projects will use KYC to cut off the fake participants and bots, but the technology should be more developed to protect participants and investors.

[AllCryptoplus]

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.


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The crypto world can go on without KYC. No debate about this.

[USDOLLAR]

This is the fundamental technique for Both the trade and the venture must conform to the law. A few nations have to impose, at that point when you fill the KYC frame they can track you effortlessly. for an answer that can help in unraveling this personality. KYC usage would truly be a useful thing since a few nations effectively directed the digital money trade so in coming days the KYC will be essential to take an interest any ico. Utilizing your data for awful goal and this is the inconvenience of KYC framework actualized. We know not every person is glad about KYC and a few people don't concur with it ideologically, particularly with regards to digital forms of money, where exchanges are unknown.

[Arnhomo]

KYC is vital just for those fake ICO ventures that, together with speculators' cash, will likewise take their distinguishing proof information, and additionally recognizable proof information and duplicates of identifications of unsophisticated members in the ICO liberality battle. With respect to abundance seekers, the necessity to finish a KYC test for them is by and large unlawful, as they are not financial specialists, but rather just people publicizing particular ICO ventures.

[alicequeen]

To me i see kyc important to investors not bounty or aidrop hunters. Since we work to promote your work so we aint customers but workers and the full meaning if kyc states ( know your customers)

[Lan75]

To me i see kyc important to investors not bounty or aidrop hunters. Since we work to promote your work so we aint customers but workers and the full meaning if kyc states ( know your customers)

Got your point there but as the OP pointed out that ICO don't care about the identity of it's investors and all they care about is the influx of money into their project. Maybe KYC is needed for the ICO not to break any law of a country that prohibits it's citizens from participating in an ICO.

[jankekek]

KYC is really important for an ICO to have it because it can be the basis of how they will approach their clients or customers, it will serves as the verification of customers if they are eligible to buy an ICO project if there are some lists of restricted area to accommodate the ICO tokens. Some Crypto Exchanges also using KYC before requesting transaction processes.

[george_crypto]

I think some companies do it unwillingy and just beusae of regulations, but some are maybe just doing it for identity theft.

[waitforme]

When an ICO project has the potential, and the developers want to make the project successful, I believe they will try to set the requirements and rules to assure investors that they will help. Earn profits from investments coming from investors.