KYC in crypto, does it really require?

[DeKingCrypto]

To me, It is not a wrong thing for a company to know their customers, KYC is good if the company will use them inline with the law. However, before you join any ICO that requires KYC, you need to read their privacy policy.

[1714861392]

1714861392

[1714861392]

1714861392

[1714861392]

1714861392

[mbahsastro]

actually do not have to use KYC. Because the function of KYC here indeed only to a safer course. If you don't use KYC I think is also not a problem. The most important project is running and can be successful. And it's not because of the KYC.

[corat coret]

actually I am also still confused as to why there must be a KYC in an ico, while we put our personal data into the ico, and we will not use it for what year, the risk is if the data is misused, and if it is not misused for what actually the KYC is used, if it includes the name of our country in the ico and it turns out that in our country cryptocurrenvy is prohibited, then we can not use the tokens from that ico?

[Saisher]

So far from all the coins, I've invested in I have not done a single KYC also from the bounty campaign I've participated in, and I'm not looking forward to participating I just hope the current campaigns I'm in will not require me to go through a KYC, at the last minute.

[Granit0]

Just for my own understanding Kyc is for my own security. The devs use it for them to allocate their tokens to the real owner of the tokens. I dont see any disadvantages of kyc .

[^BuTcH^]

i believe it is not required, because initially crypto was decentralized and KYC makes it centralized.
As for me, I avoid KYC process and usually buy fake documents to pass it, this is my vision on KYC

[optimusprimalh]

When it's registered on the market after the ICO, it's the coin and you hold cryptocurrency after that and in countries where are cryptocurrencies banned, you hold it illegaly. And for the taxes which you have to pay from the profits it's easier too to find you by the KYC when you buy tokens.

[elenka n]

As a rule, projects announce the passage of KYC, after the ICO, so to take your reward it is necessary to pass it!

[olsyd]

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 think investors should pass KYC, not bounty hunters, bounty hunters are not customers but employees this should be clear by the abbreviation KYC -> Know Your Customer but a lot of ICO projects do not understand this

[billy.ryoko]

Due to many countries till have not accepted crypto investment, so they need to pass KYC when you invest it, if the ICO need the KYC, I will check all the information about this project, like the whitepaper, team and other, I afraid invest in the scam project and this scammer will sell their personal ID in the black market, so be careful if they need the KYC.

[faza13]

You do not need to provide your personal information only to receive bounty or participate in an airdrop. First of all you need to know what the KYC document contains.
. There are many ICOs out there that you can buy without using KYC. That being said you might want to avoid ICOs who need kyc for you to invest in their projects. The reason is that there are many things that can be done with your sensitive information that you give to these people they can sell on the dark web and your identity will be stolen. Don't waste your identity just for a few buckets. They can use your identity to commit fraud, trust me.

[manuelgar]

Just projects want to be legal. They try not to break the law now and in the future. If you do not want to pass the KYC, just do not participate in the ICO.

[lesgereron]

Well some of ICO includes KYC to ensure their accounts may not get into someones and its also use for the anti-money laundering which is other countries are ruling in.

[MargoGolova]

This procedure is not so terrible, and according to your data it is unlikely that something bad can happen. I refer to it negatively only because of the extra hemorrhoids . KYC is a very clear procedure-to protect against multiple accounts and fraud project

[123pogi123]

so it's better to be in need because we know it's easier to use with hackers and avoid multiple accounts. so it's just more legally used for cryptocurrency.

[chadtn]

Honestly, I don't know for whose safety the created KYC. After revealing the identity and transferring your data to third parties, I am in danger!

[clasifiedads]

Just projects want to be legal. They try not to break the law now and in the future. If you do not want to pass the KYC, just do not participate in the ICO.

Projects want the ICO to be legal though they usually don't end with good terms. It's much safer to not invest during that kyc phase.

[abubakar.tapo]

KYC in crypto in my opinion hurts for ISO. If a large investor wants to buy a $ 1,000,000 long-term project token, he will seriously doubt when KYC asks him: where do you live? number of your passport? I believe that KYC greatly reduces the number of tokens being sold.

[Korkorjkk]

For bounties, I don't think it is needed. But for purchasing tokens, then KYC will be needed because a lot of people buy a huge number of tokens.

[serg23011992]

I've heard a lot about KYC being just a way to collect personal information, especially with airdrops