Why KYC is important?

[TheClownSong]

Does security and safetyness important to you? If yes then KYC is important like your security. It provides you own protection to your tokens.
Given that you give some of your information , the ico founder just wanted to distribute all your tokens to corresponding owner.

I am agree KYC is for security of our fund. Many scam ICOs and to prevent that government regulation require KYC for every ICOs. Its good for investor because KYC will reducing scam ICOs from cryptomarket

[babaya]

I find that ICOs projects that require KYC verification will help those ICOs become more professional. You may see that many people think that KYC is really troublesome, but KYC helps you know that the developer is really looking for their project.

KYC actually help developers team and investor feel comfort with their money and project.it can  protect this project if someday SEC investigate the project.

[rommelo24]

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.

It would be great if the development team passed kyc before running ico, then there would be less scam. It seems to me that such a rule will soon be introduced

Kyc is also part of knowing who your bounty hunters are. This is a counter checking the multiple entry.  The validity of the person is alsi known.

[eye-con]

kyc is important because it is the detailed information of an investor in an ico. it is important to know because there are some legality that they need to clarify first before letting an individual to become part of their project.

[nitin8263]

KYC is important ,KYC indentify to all people  who are joining the bounty and investing in crypto because most of people can make the lot id by one name then KYC is very important for each people.

[likketil]

Crypto enthusiasts heartily consider that KYC ain´t a justifiable measure for most of the cryptocurrencies. Those do not own the legal protection of financial assets and must not require of that measure.

[bigchuks]

KYC is simply an acronym for; "Know Your Customer"
I don't see anything wrong with it provided the process is decentralized and the data not accessible to questionable characters and data harvesting groups out to violate people's privacy.

The excuse that cryptocurrencies should be anonymous has made questionable characters to utilize it in laundering public fund, deal on illicit drugs among others.

These acts should be discouraged by bringing in KYC to the ICO business.

[hidingyou]

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

For me KYC important to eliminate the spammers but it can take dis advanges to an ICO because there's a lot of people willing to invest but they don't have KYC.That's why I think KYC is not important for crypto currency.

[Josiah Dave Leonor]

this is important because to know what you are and to know whats your name avoid meeting with scammers and to limit the cheater to register again. will provide feedback for the project maker whether the project has been successful or failed

[extremegym]

KYC is very important for ICO, but sometimes it's annoying for investors especially when it takes time to processed.

if the project is prominent one can easily suffer such KYC related inconvenience in order to get a real profit.

[Kelvinikke]

Knowing Your Customer (KYC) is one of  the security features in crypto activities and these days it is being used most of the time by several projectcs all to check the cheaters that exist in the feature.

[Sectedmn]

KYC is vital so as to validate cheaters and those scammers. however occasionally it may be used additionally by the ones scammers additionally by using pretending to have a n ICO and could ask your statistics for their personal benefit like using your records for bad intention and this is the disadvantage of KYC gadget applied.

[mgrbtc]

KYC is necessary to defend people and their investments. For ex., it could be bounty participants where KYC helps to avoid multi-accounts. Also it could be ICO participants (for ex., to avoid buying all tokens with several investors).

there are many purpose for using KYC.even in a bank they use this methode too to consider the money source their clients.and also they can prevent money that come from criminal flow.

Probably for investors, the requirement KYC is justified, but for simple bountyhunters, I think this is superfluous. After all, they simply do their work, and do not launder illegal incomes.

[petrcoin]

It is for anti money laundring. They must show the funds where are they coming from.

[bellator66]

This is good for investors because KYC will reduce ICO fraud from the cryptomarket.
I agree to KYC for the security of our funds. Many fraudulent ICOs and to prevent government regulations require KYC for each ICO.

[Atamalann]

I obtain that ICOs tasks that need KYC check desire support those ICOs get many experienced . You ballplayer look that various humans anticipate that KYC is actually vexatious , on the other hand KYC assist you recognise that the developer is actually search representing their propose .

[andradwi]

because KYC is very important to know who is participating in the project. but be more careful to use kyc because it is very vulnerable to misuse. Hopefully this KYC will be a proof of ico's success

[Risktaker31]

I obtain that ICOs tasks that need KYC check desire support those ICOs get many experienced . You ballplayer look that various humans anticipate that KYC is actually vexatious , on the other hand KYC assist you recognise that the developer is actually search representing their propose .

So, how about those shady ICO's whose implementing KYC for the bounty participants and investor that didn't make their project into its final phase or end phase(don't success) Isn't it a threat for them to get their valuable information? I know its alarming and its not right to give your personal information just for the sake of some tokens you can gather from bounty?

[opobo4real]

KYC is very important, you are right, KYC prevent scam, it also prevents people from operating from multiple accounts, but my suggestion is that KYC should be used at the beginning of a bounty campaign or before investing in a project not after the bounty campaign where you are expecting your stakes.

[Atamalann]

I anticipate the recognise your client check is significant as the corporation are capable to get any essential information almost the someone purchase into their propose . Information similar the state of origination and hall is actually significant as any nation are fronting ico