KYC in crypto, does it really require?

[Lagduf]

Actually, KYC is never required before making an investment in the ICO. But now, it has been filtered out by the goverment in the other country, forcing the project team to conduct KYC verification before making an investment, because of the law compliance.

That's the only option and if they break that requirement they will be closed down by the authorities but sadly the ones who force that kind of law never have any intention to give facility to every people so that everyone could be sure their identity is kept safely and not sold into the darknet, this actually a serious problem that deemed unnecessary by authority.

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[caoboinhacso]

Do we really need to submit our personal details to ICOs for buying the token or for participating in it's bounty and airdrop?
I always wonder why do we need to give our vital info to ICOs that most are not even likely to come on in crypto space and crypto is all about decentralization but submitting our info has made it look centralized to me.
There is no regulation in crypto yet so why should we give our details to unknow ico organizers, so claim to prevent some region in participating in the ico because of the country law but those ICOs comes from the same region and country that prevent their own citizen from participating, should we say they are using style to rob us or our details is being used for other purpose .
I think it's high time we all need to stop giving our details to ICOs if really the crypto is all about decentralized and their is no regulation in the world yet to really require such details, I will like to know everyone minds about the submission of our details in term of KYC .

I am also being confused about this thing. Recently, almost Airdrop and Bounty campaigns require participants do KYC to receive their tokens. Maybe they want to reduce cheaters but it may be make me to lost important information if they are scam project

[Inikoo]

I guess that some cryptocurrencies are just nicely decentralized, while other projects are not so much. Some regulation is needed though to get real mainstream.

[Boxxl]

For companies you to know your customer (kyc)
And for investors you need to know this because some people paying with illigal money.
Thats why you need kyc

[LianaSie]

ICO-s are not realy decentralized projects, as Bitcoin was, when Satoshi created. Companies run them, and they have obligations

[Wind_Crypto]

i think for super-solid projects, and if the amounts involved are worth it, it might be reasonable to submit kyc, a lot of icos have to comply with the rules and regulations of the jurisdictions they are operating in too. if it's just a few bucks for airdrops or bounties, then no point...

[noma45]

KYC really matters in cryptocurrency especially during ICO token sales. This is used to confirm the identity of investors, incase of any necessary information and avoid cheating.

[delton22]

Know your customer (KYC) is quite an important check needed in cryptocurrency. there are many scammers out there and projects needs to verify the identities of their investors and sometimes bounty hunters.

[Tahir460pk]

KYC is the observation of know your customers it's compulsory for big projects and mostly for the investors very rare for the hunters and it's for the check and balance for the investors money that would be legally sources down you can say KYC for worth money projects.

[Thyaga]

I do not really understand the thinking of people who do not like the anti-money laundering process even though the process is very important, whether it is possible for those who disagree are money washers.

[kimpron3]

I think kyc certification is absolutely necessary
 

[suprex333]

KYC is often debated if indeed this kyc is needed for positive things it's better. KYC is personal and sensitive but if it is true
properly used I think there is also no problem. For investors usually, kyc is required, so that is the owner's identity as well and certainly will provide benefits that do not disappoint later.

[tondenga2122]

For some reason, it is very required to use KYC in Airdrop or maybe Bounty campaign.
The best reason is to avoid many scammers and multiple accounts. And I think KYC is not really necessary for a small investor.

[Toing_Jr]

I think kyc certification is absolutely necessary
 

Actually, I don't think there's anything wrong with doing KYC if it's a good project to follow. And 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.

[reyasuo]

KYC required to stop scammers, but actually in my view, this will be make limitation to investor who want to invest in ICO project, I think in ICO project need new resolution to stop scammer without KYC.

[chehintog_24]

Having KYC in airdrop or bounty is i think most probably a secured way for some projects to prevent some fraud, get to know and authenticate their customers. Not all, actually requires KYC. In my opinion, it is much better to have the “know your customer” policy because it is also a form of protection from both the interest of the project organizers and the clients.

[cewekimut]

KYC is indeed very necessary but it is used only for the investors. And now I have also come across the ICO to use KYC for the taking of gifts. And things like this need to be careful because we don't know the project is good or not. If the project is good you can do the KYC.

[daniel2023]

One of the reasons why some campaign do KYC is because of cheating and countries that does not up help crypto ideology. I am of the opinion that KYC materials should be made strictly confidential.

[Phil315]

My response is NO! KYC is not supposed to be required in cryptocurrency. I wonder how some people introduced it for others to follow.

[Sevarchik]

Sometimes i dont understand why projects use KYC, I am easyly can use other people documents to pass it.
KYC good for banks where you come to the office and register your documents