Why KYC is important?

[jatin729]

KYC means Know your customers, As we know in some countries participation in ICO is not legal but citizen from these countries still participated in ICO for their earning purpose but this is illegal for them, So Most of ICO written in legal document that x,y,z countries citizens are not allowed to participate in ICO That's why to identify that people company go for do KYC.
KYC is also tell the ICO company that from which country they are getting more fund so they can do future plan accordingly.

[joykulot]

maybe they want KYC because they want to know that the participant is true and not using dummy account, but by the way thanks for the info and sharing for us.

[heni_april]

maybe they want KYC because they want to know that the participant is true and not using dummy account, but by the way thanks for the info and sharing for us.

in fact it is not helpful to the participants with many accounts. KYC only as data holder of the token or to convince the community data have joined in the project. data like that I think will be important for the development of the project in the future.

[Cryptomania098]

I'm not a fan of this KYC for bounty. In as much as kyc is meant for the investors who actually invest with their money, it should not be extended to bounty hunters who create awareness for the project.

[Temibest2]

KYC which means Know Your Customers is important so that both the developers would get to know more about their customers through a valid documentation.

[EwaTohmi]

KYC is very important because KYC is a tool being used to moderate scam in crypto currency and as a matter of fact it always delivers and even play a vital role in the positive contribution in crypto currency but that does not mean that we should neglect the negative part of KYC and negative impact it have on bounty hunters, many bounty hunters would work and campaign for a project after completing their tasks they would be ask to do KYC which most of them might fail and that would denie them their hard earned stakes.

[extremegym]

KYC stands for Know Your Customer and it is very important because it is useful for exchange to save illegal activities  like money section. It is also helpful to save from cheaters and scammers.

we can say that it's more useful for the project itself than for buyers.

[itasannah]

kyc is one of the rules in a bounty. important or not a kyc, we must remain to obey it. with kyc we must collect our personal data and we must be careful with that. don't let our personal data be used for things that are wrong. therefore, we must be able to choose a good bounty in order that our personal data is safe.

[birtoki]

on the contrary, I think that KYC is useless and ICO companies need to abandon KYC, because there are many ways to deceive KYC.

[opalet]

It seems to me that KYC is not important. and that it is not necessary at all to users, participants of the bounty program. And also the present, honest projects of ico do not need this procedure.

[extremegym]

on the contrary, I think that KYC is useless and ICO companies need to abandon KYC, because there are many ways to deceive KYC.

very often kyc is necessary to comply with the laws of the country in which the project is located.

[canhancut82]

KYC is only good for bounty, I do not see kicks when investing ico.Cryptocurrency is an anonymous environment, I do not want to lose my personal information

[Deborah]

Although I don't like KYC, it's very troublesome. But I fully support it. Without KYC it is easy to cause fraud, and then one day Ico will ban the participation of a country that has been found to be fraudulent. You are right if the fraudsters benefit.

[haidangtp]

I think KYC is to avoid those who deliberately cheat and ensure the safety of the account. It also makes support faster when problems occur.

[iASIC]

In the stock market, big investors still need investment certificates and in our market too. KYC is a necessity but for bounty hunters I think that is not necessary. I hope that projects ICO can understand us and dismissed KYC out part received token.

[leonard852]

I fully agree that this is a necessary procedure. For developers and investors of encryption projects, they need to meet legal requirements.

[jemarie20]

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.

 Yes I agree with you. KYC is good because you can identify who is your customer in that point we can avoid scammers, but the problem is some scammers use those information to scam others by using those identification.

KYC is important because the government can regulate crypto currency and earn through taxes if all people in one specific country  can submit their personal information.

[Jaina]

This is not necessarily true, and some believe that KYC is very important. But I think the project itself is more important. KYC is just a filter, but the quality of the project is greater than these.

[gravitik]

I believe that KYC is not needed at all and now there are many ways to cheat KYC, and also because of this we lose our anonymity

[mastersay]

KYC stands for know your customer. This requirements are extra information needed for the team before the user can make purchase to their tokens. This is a legal compliance that the team cannot forfeit. Just make sure that when you comply to this, make sure to know the team what is behind the sale to prevent from a cyber crime.