KYC, during or post ICO?

[Samer-COO-Triphop]

What is the  pros and cons of doing the KYC during the ICO or post the ICO?

I've participated in many ICOs, some of the force you to do the KYC before you can buy their tokens, others they wait and later send you a KYC email/request. so i am wondering what are the pros and cons of each approach

 

[parlament9]

If I trust in the project - I will pass KYC. If I don't trust in the project - I will never pass)
And in general - I am a law-abiding citizen of the country except that I have a bitcoin) Therefore if someone learns who I am such - I won't strongly be upset.
Though, I heard stories when just according to the photo of the passport of the person took the credit - here already you begin to think

[lyfecoin]

What is the  pros and cons of doing the KYC during the ICO or post the ICO?

I've participated in many ICOs, some of the force you to do the KYC before you can buy their tokens, others they wait and later send you a KYC email/request. so i am wondering what are the pros and cons of each approach

 

If you are investing legal (tax paid) money in ICOs and if you will be declaring the profits and paying taxes , from your investments in ICO,there should not be any problems with KYCs
But if investing in ICOs/Cryptos is illegal in your country,you should stay away from ICOs that require KYC documents

[supermine]

What is the  pros and cons of doing the KYC during the ICO or post the ICO?

I've participated in many ICOs, some of the force you to do the KYC before you can buy their tokens, others they wait and later send you a KYC email/request. so i am wondering what are the pros and cons of each approach

 

Passing the KYC during the ICO period is better because some countries don't allow you to participate on ICO's if you are from that country you invested earlier but later if you want to pass KYC you may not so you will lose your money.Bu many people were afraid to expose their personal details earlier because of the personal information can be misused if they are scammers.

[khufuking]

asking you to do KYC before you buy is straight forward and an honest way . But asking for KYC after you send them your money is kinda tricky and I do not like this way of dealing, Unless it was not planned and they kinda forced to do it which is so rare, any project should be aware and prepared before they start their ICO .

[xsantana]

KYC is a part of ico that requires you to fill your identity to fulfill the requirements to participate in the ico program that you follow, because there are certain countries that are not required to participate, and usually that happens after they send a box to you, and after you fill it out, You get results from ico that you follow.

[Ninellechka]

To my mind it's more reasonable to ask kyc after ICO. Because not all the ICOs end successfully, and developers have to give money back.Why should investors give their personal data to the project which hasn't proved to be successful yet?

[Samer-COO-Triphop]

asking you to do KYC before you buy is straight forward and an honest way . But asking for KYC after you send them your money is kinda tricky and I do not like this way of dealing, Unless it was not planned and they kinda forced to do it which is so rare, any project should be aware and prepared before they start their ICO .

Agree, the best option is to let the KYC as optional during the ICO and later ask for the KYC post the ICO. This will make the process more flexible for both project owner and buyer   

[Agamatal123]

I think kyc should be recommended at the beginning of the project not the middle or at the end of the project

[milesfull]

Dont see anything bad about kyc, its an ordinary procesure

[Samer-COO-Triphop]

Dont see anything bad about kyc, its an ordinary procesure

it's not about if a KYC to be included or not, the question is when to have it as must, before user can buy token or post the ICO

[00DKM@]

KYC after ico is rare. Maybe to protect the big investment or other problems. However, they can change their strategy according to different circumstances and conditions, requirements or surrounding legal issues.

[Samer-COO-Triphop]

I think kyc should be recommended at the beginning of the project not the middle or at the end of the project

why? what's the main reason for your answer?

[MOBbrothers]

KYC this days are scary. Loads of ICOs required KYC. but it is also a sure way to prevent Multiple accounts and scammers. it is Good.

[Hamphser]

What is the  pros and cons of doing the KYC during the ICO or post the ICO?

I've participated in many ICOs, some of the force you to do the KYC before you can buy their tokens, others they wait and later send you a KYC email/request. so i am wondering what are the pros and cons of each approach

 

Either which ways it would be still similar because you would still be asked to sent out documentations either earlier or later when you participate an ICO. This do only depend on how the team would implement or tend to ask such verification. The cons only is that when you tend to invest without even knowing that there would be a documentation submission later on and you do already sent out the money you tend to invest.

[Hanazawa]

KYC or Know Your Customer is one of the good way to identify if some ICO are legit. Passing in KYC is also depends on yourself if you you are already trusting the ICo or do you believe in the potentials of the project you can do KYC without doubting. Because KYC is for  unti laundering activities that's why it is legal methods of entering you details in their projects.

[Bachelorrd]

For me I don't see any Pros in giving KYC informations, while there's a lot of Cons in giving that sensitive information. The thing is those information can be used in illegal activities, keeping that sensitive information is hard and scamming can easily be done using your own information with them. There's a new innovative way on dealing KYC right now, I know some platform that will handle KYC applications to any ICO you'll join in an encrypted form. One of them is menlo.one and civic.

[krm4700]

There are people who have a little bit of stress because they are afraid that they will steal their credentials and pass the frauds in different places, so be careful or regret it

[Adecrypt83]

To me doing KYC after ICO look like scam, what if an investor don't pass it will they return his fund. KYC before ICO looks more professional

[Samer-COO-Triphop]

For me I don't see any Pros in giving KYC informations, while there's a lot of Cons in giving that sensitive information. The thing is those information can be used in illegal activities, keeping that sensitive information is hard and scamming can easily be done using your own information with them. There's a new innovative way on dealing KYC right now, I know some platform that will handle KYC applications to any ICO you'll join in an encrypted form. One of them is menlo.one and civic.

valid point, thanks