KYC in crypto, does it really require?

[Kay94]

I think KYC is really a good idea considering the number of ICO's that I have seen succeeded in the crypto world initiating KYC. When KYC is done, to me I think the crypto become successful on the market.

[AAlex48]

Sooner or later the market will come to regulation, it is an integral part of good growth. And KYC  is the usual procedure.

[Ini35]

I do not like the idea of asking for personal details from bounty or airdrop participants, since they are paying nothing to get their tokens, except for the fact that they are there to promote the projects. On the other hand, asking for KYC from investors might be a requirement, but this is choice. There are some ICO that do not ask for KYC, so you can decide to choose which to invest in. Also, they my do that in order to know their customers coming from different jurisdictions and to prevent money laundering.

[BabatundeM]

Nowadays majority of the ICOs usually request their contributors to undergo kyc which I feel its quite important but even bounty and airdrops participants are requested to do this as well. From my own perspective I don't think it is necessary for bounty and airdrop participants but I think the team request for this to confirm the genuinty of bounty participants.

[oldtimegin]

I am so old I remember good old. btc-e exchang. Never any KYC hassle, but it did not end well so if you want to do crypto without KYC, protect yourself and keep money on exchange minimum time!

[louisBSAS]

Using KYC identification helps to protect the project from dishonest participants with multi-accounts and also helps to prevent participants from participating in the program from countries where such participation is prohibited.

[popsywura]

Most of the ICO requires KYC because of some legal issues, some countries don't allow their citizens to participate in any cryptosystem related program, so they required this to safe guard their part.
Kyc is also require for airdrops and bounty campaigns to prevent using of multiple accounts and fraudulent practice.

[Kemileye]

Know your customer( KYC) is a good thing in crypto. Its good to know the investors in a particular ICO but over the years, fake document submission has been the problem with KYC. A lot of people submit fake documents and they will still pass KYC with such fake document. Therefore, if people pass KYC with fake document then I see that  KYC is of no use in crypto world.

[creeps]

I really do not like it. But if I want to get a reward for the work done, then I have to pass the KYC..

We have no choice but to follow that rules. KYC is not required in some ICO but most of the project now are asking for it, just make sure you are not giving your private keys in airdrops or in any ICO investment. KYC kills the system of being anonymous in cryptoworld, maybe we cannot really escape the government.  

[cryptocean]

Most of the ICO requires KYC because of some legal issues, some countries don't allow their citizens to participate in any cryptosystem related program, so they required this to safe guard their part.
Kyc is also require for airdrops and bounty campaigns to prevent using of multiple accounts and fraudulent practice.

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[De_nis]

To be honest, I believe that the KYC violates the main principle of cryptography-decentralization.
Regards

[codebreakerz991]

Remember that never submit KYC for your airdrops because maybe they just one to take your personal info

[cryptocean]

To be honest, I believe that the KYC violates the main principle of cryptography-decentralization.
Regards

We made fusion between privacy & decentralization. Its amazing

[cryptocean]

Remember that never submit KYC for your airdrops because maybe they just one to take your personal info

Its true. And this issue could be fixed via your CryptoPass.id  and Level Access to your personal data.

[therhslv]

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 .

Its because regulations require how and where people spend money to fight money laundering schemes . Ofcourse its risky to give out your data to ICO project , because most of them will fail . But if you want to Buy/Get tokens then that what we need to do :/

[ajqjjj]

KYC is useful to find out the multiple accounts but sometimes they can use negative way also because our complete data is stored in any scam project they can sell our data in anytime. So everyone avoid the KYC and many peoples are looking to decentralised platform so KYC is automatically changed to centralised so I do not like to this requirement in new projects.

[cryptocean]

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 .

Its because regulations require how and where people spend money to fight money laundering schemes . Ofcourse its risky to give out your data to ICO project , because most of them will fail . But if you want to Buy/Get tokens then that what we need to do :/

If your money is received legally, KYC/AML identification will allow you not to lose legality by transferring assets to crypto-currencies. Therefore decentralized KYC / AML is the only possible way to unite the world of traditional finance with the world of crypto-currencies.

[cryptocean]

KYC is useful to find out the multiple accounts but sometimes they can use negative way also because our complete data is stored in any scam project they can sell our data in anytime. So everyone avoid the KYC and many peoples are looking to decentralised platform so KYC is automatically changed to centralised so I do not like to this requirement in new projects.

Already Solved: https://www.cryptopass.id/en/project/

[Chapics]

we as participants do not need KYC. but the ICO projects require the passage of KYC. we can refuse and not participate in such ICO.

[cryptocean]

we as participants do not need KYC. but the ICO projects require the passage of KYC. we can refuse and not participate in such ICO.

KYC/AML - key point of legality in the crypto-fiat world.