KYC, during or post ICO?

[JMD07]

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

 

The team are just following regulations given from the government from where they ICO located. It's a mandatory to know who they are dealing to and identify where the money came from. If you don't want to undergo KYC then find those ICO that does nor require KYC to participate on their ICO. It's so risky to give your personal data to them and you don't know if they will use your data to other proposes. What if?

[entrepmind23]

At  the  very  beginning  they should  announce it  so  that  we  can  decide if we want to continue  joining  the project because many   do not agree  with the  kyc  policy. As of now I  don't  really  trust  kyc  giving some personal info.   

Yes, I have the same opinion as yours when it comes to KYC. I have seen a post in here wherein they are selling the information in dark web for quite a fortune that's why many scam ICOs are asking as well from their bounty participants and investors to submit KYC because it would be an additional money for them too if in case they would use it for their own good. There are legit ICOs out there but I would rather wait for it to be listed in an exchange wherein I don't need to submit a KYC.

I think it's better to go straight to KYC. So then you do not get unpleasant situations when you either missed the time for verification or can not pass it at all and because of this you can not get your tokens.

They should require the investors and the bounty participants at the beginning of their ICO than announcing it at the end because it would give them less credibility if they would suddenly ask for KYC when many people doesn't want to give their personal information. They should include it in their announcement if ever.

[smartsan]

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

 

Yes, KYC are becoming one of the necessary things in the ico project during the buy of the token from token sale.

[mr.nby]

I'm generally against KYC. I do not want to send my documents to unverified personalities. I'm not sure that they can keep them safe

Yes, otherwise, the data may be sold to unknown persons for use in crime. After sending the documents in order to pass KYC procedure, there is practically no way to find out what is happening to them and how they are stored.

[okocrypto]

To me I feel is unprofessional for ICOs to conduct KYC after ICO. This does not always go well. If it is before investing, then people will know if they are eligible to contribute or not to avoid too many rigorous processes of fund recovery.

[Adedbum]

Kyc allow the manager knows there customers very well and there source of their income in order not to make money laundry.

[benhill]

There is nothing bad in KYC but project developer that intend to scam the participants ie investors and bounty hunters will not  introduced the KYC at the begining of the project but after money collection from the investors or about to pay the rewards of bounty hunters they will now introduce KYC just to denied the participants of their rewards. I support the KYC because it prevent money laundering.

[Mahanton]

Kyc allow the manager knows there customers very well and there source of their income in order not to make money laundry.

Not the project owner itself but most of them do only comply into the laws on where those projects do operate on.When they do ask KYC then most of the time their government is telling them to do so.

There is nothing bad in KYC but project developer that intend to scam the participants ie investors and bounty hunters will not  introduced the KYC at the begining of the project but after money collection from the investors or about to pay the rewards of bounty hunters they will now introduce KYC just to denied the participants of their rewards. I support the KYC because it prevent money laundering.

When it comes to protection then KYC is an advantage but we all know that not all projects would really be legitimate for you on carelessly sending out your informations.

[kagtaviy_mo]

Hello, I think that this is not a particularly pleasant procedure. For me it does not really matter when this procedure should be done. Before or after the ICO.

[Seunbabatunde]

KYC is the way to fix out  the scammers during the ICO and also to detected those that are using multiple account during ICO.

[MsBella_120799]

 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...KYC or Know Your Customer is one of the good way to identify if some ICO are legit...

[antsam]

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

I strongly agree with your statement, the key is trust. If we believe why not, but if we fear our personal data is misused, don't do it