kyc and icos

[gurunanakji777]

I noticed many ICOs are asking for kyc nowadays. I think they are just follow their norms that has been made by their government to follow. In my opinion its not bad to give your identity for ICOs. On the other hand you can consider that ICO more legit than others because they do all the things in a proper manner. If your are more concerned about your Id's. Don't give your passport try to give your other Ids for Kyc.

[muhdatha]

If it's not a particularly good ico, I don't recommend going to kyc, many ico are worthless, and then defrauding investors.

One project  has recently shared in the spreadsheet its Bountist's phone numbers after KYC. So we can see now how  projects "secure" our personal data.

[Walexizi]

I like KYC because it show the serious and unserious investors during ICO it also reduce scam and fraudulent during ICO

[HALLASTERA]

when doing  a kyc  for an ico or a worthy airdrop   can i hide my  id numbers  ?  like passport numbers and so    

also  what id card is the most important  and i should nvr  use it   ?  passport or  id card or driver licence ?

and in case  i got scammed by scam ico  what can i do  in case of id theft ?

and  am seriously considering to do some Photoshop on my id card or passport     to only use it on kycs  not something else and i dont want to screw my life  xd  so  how law look at this point ?   and does those ico can identify that it got modified by Photoshop ?  

ps  :  most ico do manual check  i tried to send random document but got refused  


so  i think that topic is worth to follow cuz we are all suffering from kyc  

and one of my friends  told me stories about id theft  he used to send his id but now he stopped  

Don't give them your documents. Normally ICO's don't require your documents.

[victory.lil]

Like many people on this forum, I also do not recognize the KYC procedure. I do not want to go through it, because I do not want to merge my documents and the network into public access, because it seems to me that the network is not a place for personal information, it seems to me that today there are so many documents from different people on the network.

[Vektrum]

KYC (know your customer) is the process of identifying personal data, when the client (a private individual) is required to provide some personal data that will confirm their identity. Increasingly, companies that launch ICOs ask their clients who participate in the token sale to go through id verification

Only here is the question: is the signatory campaign participant who does not invest in the ICO project, his client and should he pass a KYC check and provide his personal data with copies of his documents in order to advertise the implementation of this ICO project? After all, the conduct of such a check was conceived in order to avoid the laundering of dirty money. The requirement to provide their personal data with copies of their documents violates the norms that exist in almost every state, the protection of personal data. If someone requires these data from me in violation of my national laws, they should at least indicate a specific legal and regulatory document that obliges them or grants them the right of such a claim. None of the rules for joining the ICO campaign, where there is a mention of the possibility of conducting a KYC check, do not indicate how they are making such a claim. And why then do we have to do this? And maybe they collect our personal data, then sell them? We do not know to whom we are passing these data. Photographs as members of the team can be inserted any and there are already many examples of this. I am categorically against the provision of my identity to someone who does not act as an official person and does not have the appropriate authority.

[Strymex_ru]

You can't have your cake and eat it, it is a huge risk uploading your personal information to the cloud or whatever, but there's no other way I know of, honestly, if you're suspicious about this ICO being a scam, you are better off not uploading anything, trust your gut feeling

[btctalkid1]

only participate good ones, and if you are in china, usa or a couple other countries you can't participate.

[Fancyax]

KYC is required by most of new projects. I think it's risky to give you ID and information to random people on the internet and that break the anonymity and security cryptocurrencies are supposed to offer.

[kinki32]

I don't understand why most ICOs started getting invesments with KYC. What exactly makes people giving own photo or something else.

[iillaa]

KYC (know your customer) is the process of identifying personal data, when the client (a private individual) is required to provide some personal data that will confirm their identity. Increasingly, companies that launch ICOs ask their clients who participate in the token sale to go through id verification

Only here is the question: is the signatory campaign participant who does not invest in the ICO project, his client and should he pass a KYC check and provide his personal data with copies of his documents in order to advertise the implementation of this ICO project? After all, the conduct of such a check was conceived in order to avoid the laundering of dirty money. The requirement to provide their personal data with copies of their documents violates the norms that exist in almost every state, the protection of personal data. If someone requires these data from me in violation of my national laws, they should at least indicate a specific legal and regulatory document that obliges them or grants them the right of such a claim. None of the rules for joining the ICO campaign, where there is a mention of the possibility of conducting a KYC check, do not indicate how they are making such a claim. And why then do we have to do this? And maybe they collect our personal data, then sell them? We do not know to whom we are passing these data. Photographs as members of the team can be inserted any and there are already many examples of this. I am categorically against the provision of my identity to someone who does not act as an official person and does not have the appropriate authority.

joined a bounty of cash bet  https://ico.cashbet.com/  in the end they asked for kyc  i was asking in main telegram group for  a law note that give them right to collect

our data  and the admins never gave a good answer  only saying trust in us  or then dont send ( lose my bounty )  and  in the end i was banned 

that mean it is illegal to them like you said  and i wonder how can we stop this BS  of kyc for  airdrop and bounty  since most icos are shit  and dont worth to risk your ID

[costgranda]

I too not the supporter of this KYC procedure. Nobody wants to provide the documents to unknown people. They can use then them in the bad purposes. But this information is necessary for some projects for the reports. Therefore it is necessary to choose: to provide the data or not to participate in this project. It is everyone has to solve for himself. Always it is possible to find other project without KYC.

[uszaty43]

I like those ICOs who want KYC for everyone of their customers, it shows that they are compliant with the SEC laws, and that is fine for me.

Everytime that you ask for a new credit card, it is always the same procedure, so it is not bad for me.

I too not the supporter of this KYC procedure. Nobody wants to provide the documents to unknown people. They can use then them in the bad purposes. But this information is necessary for some projects for the reports. Therefore it is necessary to choose: to provide the data or not to participate in this project. It is everyone has to solve for himself. Always it is possible to find other project without KYC.

[cerberus5424]

For ICO projects, I think it is justified to undergo identity verification, but for airdrop I do not advise, personally, I will not for airdrop, send my personal data.

[deslt]

You know I have an idea how to solve this... but I need feddback
check out my proof-of-human idea

https://github.com/desLT/dID

[entrepmind23]

You can't have your cake and eat it, it is a huge risk uploading your personal information to the cloud or whatever, but there's no other way I know of, honestly, if you're suspicious about this ICO being a scam, you are better off not uploading anything, trust your gut feeling

There is always a risk that your identity will be use for illegal purposes by the time you hand out your Identification Cards to unknown people. But then if they are asking for KYC then it is a hint that they are compliant with the law and that would give them more credibility. I have read some guidelines about the right way of choosing an ICO and one of those is that they ask for verification documents for their protection as well. If the investor trust the team that it will be use for legal purposes then he can hand it out but if he smells something fishy then just move on and don't participate in projects that require KYCs.

[Hopeful2017]

when doing  a kyc  for an ico or a worthy airdrop   can i hide my  id numbers  ?  like passport numbers and so    

also  what id card is the most important  and i should nvr  use it   ?  passport or  id card or driver licence ?

and in case  i got scammed by scam ico  what can i do  in case of id theft ?

and  am seriously considering to do some Photoshop on my id card or passport     to only use it on kycs  not something else and i dont want to screw my life  xd  so  how law look at this point ?   and does those ico can identify that it got modified by Photoshop ?  

ps  :  most ico do manual check  i tried to send random document but got refused  


so  i think that topic is worth to follow cuz we are all suffering from kyc  

and one of my friends  told me stories about id theft  he used to send his id but now he stopped  

That depends on the rule of the KYC. Also, depend on the regulations that every project requires. However, most cases, KYcC need almost all you personal data including your ID numbers and passport. You cannot hide them because they simply needed by the project. Better choose ICO with no KYC.

[Jeepney_koh]

KYC is so annoying for me. It is also a dangerous thing especially when the project is a scam. The private info you will give might be used for illegal things. I usually do not join ICo with KYC.

[Polipog]

Many such argument about KYC system in ICO, because mostly people knows about crypto business is a decentralized system, that's why people doubt on the KYC system being implemented on cryptocurrency business. But for me, as long as I am earning on crypto, I have no doubt on what ever rules implemented on crypto management.

[gizmodo1987]

If you are investing on ICO its part of it now doing KYC for legal terms. But for airdrops and bounties I wont give my KYC docs just to have some tokens/coins.