KYC in crypto, does it really require?

[AltcoinsBattle]

I am totally against KYC. It is meaningless and it is a formality that solve no problems, but creates a lot more problems. And of course a lot of ICO are abusing KYC and try to collect data, they are not supposed to have.

This is hardly a formality only. Bounty managers are fighting this way against multiaccounts. In ICO, in some cases this is required by law. But often they collect data about us for unknown reasons. I passed the KYC twice. Once it was scam.

[1714891354]

1714891354

[1714891354]

1714891354

[1714891354]

1714891354

[1714891354]

1714891354

[Mystogan915]

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 .

KYC is not always required in bounty campaigns to receive your tokens, some have no KYC, some have KYC, and some are the investors are needed to pass the KYC. KYC is a good form, because the team wants to know if you are true and not a robot, and if you are a citizen of that country or not. Because there are some ICO that is restricted to some areas.

[modmalaney]

I doubt about this is required or not. Maybe if it does require a report to superiors the project concerned would indeed be necessary. but certainly also will not be checked carefully and only as a proof of black over white only. the problem is when it made the event an identity to an archive collection. It is not impossible because an identity is quite private and if they fell into the wrong crowd will be used in the event of any undue hardship.

[cryptopov]

Depends on what you are doing,if you are going to invest to something you should have KYC so that these projects wont be shitting around the corner because the law forbidden them to go through,if you are just doing bounties you shouldnt.Be cautious and protect your identity to everyone,internet is full of shit and you should be more careful giving your informations.

[Arcanefist]

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 .

It really annoys me. I always do everything exactly as instructed, but in most cases it is impossible to pass the identification. I don't break any rules and do everything according to the instructions. I think it's pointless and I'm waiting for it to be canceled.

[ofelia25]

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 .

It really annoys me. I always do everything exactly as instructed, but in most cases it is impossible to pass the identification. I don't break any rules and do everything according to the instructions. I think it's pointless and I'm waiting for it to be canceled.

Well, we cannot blame them sometimes it is law required or sometimes its their team decision to avoid scam from greedy people so we cannot do something about it, let us just follow and make sure that we provide everything and has proof of it.

[batgrzl]

Some people feel that KYC can avoid coins being held in the hands of a few people, causing prices to collapse. But in my view, these are pointless, because ICO itself has lost its original value. Become chicken ribs.

[Rustamm]

For members of the ICO generosity campaign, a KYC check is not required at all. The requirement to undergo such verification to bounty hunters is illegal. Such a verification is carried out only for investors who can launder dirty money. No state requires that such verification be conducted for participants in the ICO generosity campaigns. This is all the initiative initiative of the ICO team. I think that we should not send our identification data to potential scammers.

[sarfield]

Actually, in this crypto world, KYC is not needed because it is anonymous.
But to anticipate cheating and money laundering, KYC is raised, with the aim of cleaning up unwanted things.
If to limit the community maybe KYC is needed, all of this depends on the project or the type of crypto.

[bboyjohn]

KYC is a very sensitive and risky issue. The world of crypto money is a very dark world, and it is not possible to say that all the work done here is positive. If the projects and exchanges we provide are not reliable, we can have big problems..

[natsu01]

This simply mean know your customer (KYC) this is a process in which the ICO management team get to know and authenticate their customers' identity and informations like know the nationality, gender, name and much more it is also a form of security and it protects both the interest of the project organisers and customer. This is commonly used to avoid scams and cheatings during the launching period.

[shushu2007]

In fact, KYC did not need it in the field of cryptocurrency at the beginning. It needs KYC which does not violate the principle of decentralization. But, the little fish cannot eat the big fish, the government requires KYC, so we have to start with KYC. As for the bounty and airdrops requires KYC, i think it's undoubtedly behaving like a hooligan.

[Fedots83]

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 not happy that I have to leave my data in order to participate. I don't know what's going on with them and I'm really worried about it at the moment. I think that is the most wrong and will be much better if this procedure will cancel

[marados]

It is somehow crazy to give someone your personal information, even more giving someone copy of your ID, through internet, not knowing really for what it might be used. But, KYC is broadly understood concept in global finance. It gives project managers  at least some possibility to know vital information about their investors. If you are not really comfortable giving your personal data on the internet then you shouldn't even use internet at all, because we aren't even aware how and with which methods they are already following us. Yes it's risky giving your ID or some other identification document, so before you do that atleast do some research about legitimicy of the project, it's your due dilligence if you even want to invest in some project, and ofcourse why even investing (a.k.a giving your personal data) to project that you don't trust at all....

[connecoin]

KYC is a very sensitive and risky issue. The world of crypto money is a very dark world, and it is not possible to say that all the work done here is positive. If the projects and exchanges we provide are not reliable, we can have big problems..

Yeah. It's so risky to do the KYC procedure since it can exposed our private informations in the public especially here on this kind of world where most of the people are anonymous. However, it is very effective for bounty campaigns because it can eliminate multi accounts.

[gullu]

I can understand that many dont like to give their personal information to a third party because you really dont know who are  these guys.
Trust me , even ICO team members also dont want this . Its extra cost for them to implement KYC software API in their ICO website. They are doing this because the country where they are going to register their ICO needs that information.

[Convery]

Yes, it is required by national governments and ICOs, centralized exchanges have to require KYC from their customers. If they do not do this, it is a high risk that they eill be closed and arrested.

[Siegtal81]

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 think it's really stupid and such actions do not really need. It seems to me that if the KYC was canceled, there would be many times more participants and investors. And participation in such procedures on the contrary undermines the status of such projects

[teosanru]

A lot of regulations have started sprouting up and companies are helpless. The governments have been pushing them to make KYC process mandatory. Ideally, no ICO would want you to go through KYC, but then their hands are tied by the government's intervention, and you can do nothing about it but to comply with the orders.
I am against it, but cannot really help it.

[pungopete468]

I think that verification needs to be done to detect fraud. because now the velocity of money in cryptocurrency is huge and we must be careful to prevent fraud and fraud