KYC in crypto, does it really require?

[mklost]

KYC Has established in this year. in 2017 and before KYC Procedure was a funny thing, but as day by day spammers, scammers have increased significantly in the crypto platform, That's why ICO Owners goes for KYC Procedure to make sure investors, hunters are legit or not. So, I am supporting it, I don't think they will steal your identity. I have submitted KYC in many ICO Projects, all of my information is safe there. It is not like centralized, it is to avoid scammers in the project.

[itasannah]

actually, there are some reasons why a kyc system is implemented in a project. first, we know that there are some countries that have not been able to accept cryptocurrency, so by submitting our personal data, they will know where we are from. besides that, with the kyc system, a project can also avoid the cheating from the bounty hunter who uses multiple accounts. I think a rule must have been well thought out.

[Iyanu14]

 I do hear some people that they use fake document that is only why i don't support it, if fake id can be use then the credibility and reasons for kyc should be questioned. It is not fulfilling it's purpose.

[jahepahit]

there are still so many ico who do not need kyc to invest, in my opinion doing kyc on ico is not a problem because we invest with the aim of protecting our money which I disagree is doing kyc if it joins on a bounty or airdrop, the forum admin should make new rules about that here

[coffee_man]

I do not support KYC verification because I am concerned about the security of my data and personal information. And I try to avoid such projects using KYC.
Many projects use KYC to their advantage, and many people are willing to provide personal information because of the rewards without thinking about the consequences.
It is a pity that in such matters the crypto community behaves separately.

[Open4lies]

KYC is essential in ICO campaigns because it avoids the fact that one buyer has too many tokens that affect the development of the ICO project. And KYC should only do with the investors, and the member involved in the bounty, I think is not necessary because the number of Token for the bounty is less than 5%.

[the1arty]

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 .

Mostly you need to submit KYC, as countries like USA, China, Canada, Singapore have strict regulations for citizens. Also, if tax officers will ask where did you receive the money from, they can show real investors and show where all the tokens went to.

[Hamstead]

there are still so many ico who do not need kyc to invest, in my opinion doing kyc on ico is not a problem because we invest with the aim of protecting our money which I disagree is doing kyc if it joins on a bounty or airdrop, the forum admin should make new rules about that here

KYC is important today since a lot of people get scam and scammers around. With these thing it could lessen the threat from scammer and be secured enough from them. Anyways,  there is no problem with passing our identity and for sure they keep it secretly for confidentiality.

[Firefox07]

Why in the past we don't need to submit KYC. If the ICO we have joined require KYC for us to receive our tokens. I think we should submit it.

[portalufonet]

KYC is essential in ICO campaigns because it avoids the fact that one buyer has too many tokens that affect the development of the ICO project. And KYC should only do with the investors, and the member involved in the bounty, I think is not necessary because the number of Token for the bounty is less than 5%.

I also agree with you. Applying an ICO to an investor is essential because it limits the ability of market participants to hold too many tokens, and it also restricts fraudsters. Bounty campaigns, the application of KYC is not necessary because the number of tokens distributed to the bounty is very small.

[tanaka collin]

I think there are many reasons why there are any kyc for investors and bounty hunters, of course, that has become a project policy and we must follow it. if we have all the data that needed, of course, it will not complicate it, and we also don't need to worry if the data that we collect will be misused by a project. It will not happen..

[Cemploon]

KYC has the goal to safety. I think it's a little help, and also I agree with existence of KYC. However, it does sometimes, this KYC terms that make us have to think long. Because there is a KYC using Passport. But my own, don't have that Passport.

[Indrawan77]

I know that the real purpose of the kyc requirement is to prevent abuse and to avoid people from restricted countries to join ICO, but I don't think its necessary to do kyc, it violated the crypto currencies purpose which is decentralised, and then its very dangerous to submit our identity to some site that we don't know the legality, if the project is legit then its okay, but if its a fraud project then we will screwed, our identity can be misuse by the fraudster

[valnd]

I am one of those people who is against submitting our personal details just to invest in an ICO, I am of the opinion that kyc should not be needed for investing in any ICO, it's a norm now for every ICO to conduct kyc and the worst part is that after going through all those kyc and stuff, when it hit exchanges people who didn't suffer to go through the kyc, will even buy more cheaper than the main investors.

[Mix_Fix]

I don't trust such projects. I must invest my money to people who can cheat with me and can steal my personal data. If you are large investor, it is easier to buy tokens after exchange listing without risks and identification.

[CopMom]

KYC is only useful for investors who buy tokens because the Token sale rate is over 60%. And for bounty and airdrop members, KYC is superfluous and unnecessary because the bounty rate is less than 3% of the total Token. So KYC should be for investors, not bounty members.

[Eugenar]

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 .

Implying the system of KYC depends on the team behind a particular project in order to avoid inequality especially with bountuy rewards that some are using multi accounts. I do think that there's no downside on such system because you will just spend a couple of minutes filling up and that's it. Also, we can't do such thing against it because that's their project, their rules.

[ylnar123]

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 .

In a decentralized world, KYC is not really important. But with the abuse that people are doing, like in bounty program. The developers and the admin are forced to ask for a kyc to abduct  those people with multiple accounts farming in their ICO.

[clickerz]

I am one of those people who is against submitting our personal details just to invest in an ICO, I am of the opinion that kyc should not be needed for investing in any ICO, it's a norm now for every ICO to conduct kyc and the worst part is that after going through all those kyc and stuff, when it hit exchanges people who didn't suffer to go through the kyc, will even buy more cheaper than the main investors.

We are on the same side. I don't like this idea of submitting those important documents tp group that we did not know either. Some are simply anonymous,not known personality. If its a legal entity I think,regulated company I think yes, i will comply.

[stefven]

there are projects that require KYC and there are also projects that not require KYC. it depends on the policy of a project, and as a bounty hunter and investor, we must obey it because it is one of the regulations in a project. I don't think this rule will be difficult.