KYC in crypto, does it really require?

[leetcoiner]

I think that a special secure platform is needed through which our documents will pass, I do not want to trust my documents to projects, they are too easy to crack.

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[CandyCoconut]

Crypto is the most expanded market platform. Anyone can invest here. i think personal information should not be given to him. Because crypto is decentralization. I think you're right.

[MatthewNaccarato]

There are some ico which are deal with your personal information. for avoiding scam they used kyc. but it's not for all the ico, there are some which requires this kyc.

[AllenTurner]

KYC, in my opinion, does not go with the decentralization theory itself. If KYC information is being collected, where the information will be stored? Will the collected data be shared with everyone? If that is true, then won't it make a threat for them who have given data in the form? That makes so many questions.

[AllenTurner]

KYC is a common thing in todays financial market. Before any kind of financial transaction most of the financial organization requires KYC form to be filled. crypto is also a kind of financial market. They require kyc so that they can verify your identity and ensuring that you are gonna cheat. The process of KYC is similar for almost every crypto exchange. It helps to keep check of those who buys and then convert one crypto to another. It helps to check the balance of those exchangers. Lastly, it works as your identity in a crypto exchange and kyc is growing famous in crypto community.

[zucknail]

The crypto is decentralization, it is not necessary to give personal information here. I think we should come out of this way. We can not centralize crypto with our data. I think you're right.

it is not correlated with decentralization , but it correlated with money source.team developer make this police in order to prevent money usage from criminal case.

[norther90]

I don’t feel comfortable passing through kyc verification as I don’t want to share personal information,especially when it’s about crypto but I realize this is important ICO to prevent cheating.

[Iyeman]

I don’t feel comfortable passing through kyc verification as I don’t want to share personal information,especially when it’s about crypto but I realize this is important ICO to prevent cheating.

It's not actually be required to prevent cheating but instead to not breaking the regulation, there's a really big chance that someone could use ICO to launder their money without no one knowing if the kyc is not required
and that could be a problem for the project since the government could simple close the project down after they found out.

[idioma1]

As far as I know these are requirements of the exchanges but not all ICOs require KYc. There are a lot of ICOs out there that you can participate without passing KYC

[campusnet]

Yeah I guess it becomes a need for security and the need for the data. It used to be to invest in ico or our new crypto does not require data for kyc verif. There are only transactions from the wallet and fill in a little bit of data requested by the team.

[GreenHarbor57]

In any project anyone need to share many sensitive information and data. Then fraud can sell your data on deep or dark web, So be secure need to use kyc for ICO.

[castiloros]

may I also quite confused as to why this is required. KYC for the system is difficult to understand the real function. This would be quite risky If this could be done because the data sent will fall into the wrong hands and ultimately could be used for things that are not appropriate.

[apur688]

Certainly very much needed, because security in investing is very necessary. KYC is one of the best security systems. Where it is very difficult to break into, because it uses the identity card and the original signature of the investor concerned. Therefore it is very important even in my opinion all ICO projects must use the KYC system. So that security can be trusted.

[StrongImagine301]

For every ICO kyc is not required.Some ICO you can buy without using kyc. But which ICO needed kyc that should be secure .

[BluRPie]

I think that no. I never seen any link to the direct legit requirements for KYC in ICO projects. Ok, maybe it is logical that if you have recieved money,  than you should know who is your customer. But what the reason to request documents of Bounty Hunters,  they don't make payments.

[sultanGol]

In some cases, we do need it. I can understand ICOs, not want to take any unnecesery risk, so they got punished, not respecting the rules.

[styca]

I think with uncertainties around legality in a lot of crypto, many projects are just trying to cover themselves. Having said that, scam projects are also likely to ask for KYC details for data harvesting and possible identity theft.
It's just one more reason to be careful.

[Platon ES]

I participate in many Bounties, but the Projects with KYC, I am trying to avoid them. I don’t like to share my own data with strangers.

[datmacro]

KYC aims to avoid phishing, and if you suspect a certain project is trying to steal your information, you should not invest.

[allanr]

in some cases, kyc is needed to prevent cheating from participants.
kyc in an ico sometimes lead to pros and cons.
we as participants can only choose. if you can't do kyc on a project that requires it, then you can't join. You cannot change the rules because the control is held by the project holder.

I don't think there's anything wrong with doing kyc if it's a good project to follow.