KYC, during or post ICO?

[johanesrobin]

KYC is needed to know the identity of the token owner, so that the token is not easy to be owned by a scammer. but there is no guarantee about the data we send. I am afraid that data will be misused and used for other purposes.
better be careful and ask the ICO team about data security.

[Snaic]

Actually, kyc is a bad thing. Many people can find out your address, Name and surname. But in some countries it is forbidden to participate in the ico and therefore need a kyc.

In some countries, such as the US and China, participation in ICO projects is prohibited in the sense that citizens are prohibited from investing in these projects. That is, states are afraid that their citizens will suffer losses because of ICO's risky projects and their fraudulent teams. These states do not care whether you advertise these projects or not, participating in the generosity campaigns of ICO, because in this case you can not lose your money, because you do not invest your money in such projects. Therefore, the requirement to pass a KYC test from bounty hunters is illegal. Such requirements of these states regarding bounty hunters do not and can not be. Therefore, now many ICO teams agree that the KYC audit is conducted only against investors.

[Vibr56]

I think that KYC has been implemented for a good reason.. You wouldn't want money laundering to flourish would you?

On the other hand, I would never give out my personal information to shady ICOs though since they are not worth the risk... It's a good thing that menlo.one is launching soon since we will only be required to submit KYC requirements once making ICO investing very convenient in the near future.

[pragna]

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

 

First of all i say KYC is needed for bounty to get relief from cheater. And still i did not get any manager that force me to do kyc, it was only trams and condition that if  i did kyc i will get tokens or not. IF it does in first of ICO, it is much better. If you have everything ok you need not to worry about kyc. Just do work and be safe.

[NinjaCryp]

Usually, ico usually requires KYC when registering a whitelist. I think that's better. Even for the bounty, the information requested KYC should be in the early stages of launching the campaign. However, devs team can change the structure and the rules to bring more suitability.

[natsu01]

KYC is a good protocol to be practiced by ICO's management so that they can secure their projects from the people who are their in their restricted zones and from the bots . I think issuing a KYC on the post ICO is not good enough, for me , it is better to issue it on pre ICO or on ICO period so that the investors and participants can be fully prepared to submit their qualifications.

[Agamatal123]

Kyc during the ICO is not what should be done most bounty campaign did that to cheat on bounty participants

[Jamota459]

Kyc is to introduced before the commencement of the project. It should not be recommended during the ongoing ICO

[DumbLefty]

I can not say about the pros or cons of kyc. I understand that kyc adds more transparency to companies. I'm going through this procedure and I'm not afraid of the consequences.

[Jamota459]

I wonder why most project don't introduce kyc before the beginning of the project but they often compulsory kyc at the middle of the project

[rosebit]

I don't see anything wrong with KYC but it should be done at the beginning of the project not the middle or at the end of the project because you will not even know that they wants to do KYC and by the time you knows its already late and you will lose your money.

[Sharingjoy]

Yeah KYC will necessary in participating ICO but once this token get listed on exchanges...you can buy without KYC. Then, what's the purpose in investing at ICO if you can buy it at exchanges with lower price.

[samcrypto]

KYC is needed to know the identity of the token owner, so that the token is not easy to be owned by a scammer. but there is no guarantee about the data we send. I am afraid that data will be misused and used for other purposes.
better be careful and ask the ICO team about data security.

For sure they will said that your identity is secured but I think you still need to be careful. ICO is risky nowadays since most of them are just scam, so if the project is asking for your ICO make sure its legit. Its good to be more secure than to regret it.

[vtldtlm]

In good projects, you usually have personal accounts . And after you receive the cryptocurrency to your account, you will be able to fill in the KYC before withdrawing funds. I think that's right.

[Ozero]

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 .

Of course, the conditions for the sale of new tokens in the course of the ICO should be agreed upon before the conclusion of the agreement and the sending of their money. Therefore, any talk about the need to pass a KYC check after agreeing positions and sending money is already like fraud.

With respect to the participants in the ICO generosity campaign, the requirement to pass a KYC test is generally illegal both during and after the ICO. We do not need to pass such a test, because we are not investors in these ICO projects.

[bananafox]

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

 

I think that the pluses are only that there will be fewer bots and multi-tanks.

[klipfolio]

Just making you fool showing legal way.

[hungsanh2512]

When requesting KYC in a campaign, I was sure it was a highly demanding campaign and a difficult level to enforce identity verification. Not necessarily a bad thing but it will take time to register for this one too.

[timmmers]

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

 

There are no pros and cons about KYC when it is required by ICO. It is officialy required by the government and ICOs need to be legit. Because if you would like to create a big project witg a big solution, then you do not want to risk any problems with governments. You know?

[velocify]

KYC, no advantage, you cant find if they not real.