KYC in crypto, does it really require?

[cahkalem]

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.

yes, you are right,, about the lagality of crypto
but, people need privacy and with KYC there will be no privacy anymore in crypto world, thats is why cryptocurrencies born
personally i didn't agree with KYC in crypto industry

[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.

yes, you are right,, about the lagality of crypto
but, people need privacy and with KYC there will be no privacy anymore in crypto world, thats is why cryptocurrencies born
personally i didn't agree with KYC in crypto industry

Let me explain my position on this issue.

When you go to the bank, to the airport, to the registrar, you use your ID for identification, and everything is fine. The same is true in the world of crypto currencies. If you want to buy drugs or other illegal things, you will try (illegal!!) buy it without a passport. If you have nothing to fear, you will use it. With Crypto Passport cryptopass.id - there will be no difference between the real world and the world of crypto-currency.

[Anchor867]

Not all really because there are some that dont require it just to make sure that the person is not multiplied or bot and give the profits to the real people and also just to make it sure that it is a real person

[patz22]

They only comply with the rules and if there's nothing wrong about your identity basically there's nothing to worry about. This issues about KYC was discussed a million times already. Well, in regards to bounty most people who complains about KYC are probably cheaters (not saying all). Yes, crypto is all about decentralization but it doesn't mean that all of us is anonymous.

[dangwapo311]

I find it kinda annoying wuth all these ico recently who implements kyc as a requirement. I really don't like sharing my personal information online. I have tried to keep myself anonymous for the longest time now and this kyc thing is really bugging me. Although I believe that kyc has a good intentions to keep the ico legit and free from scammers.

[johnnymesibas13]

I find it very annoying if a crypto requires KYC. It's ok if it is an Exchange because they only comply with the laws. But requiring a kyc to buy a token is a no no for me. When I see that there's token sale and it needs a kyc then I will not buy it.

[cryptocean]

I find it very annoying if a crypto requires KYC. It's ok if it is an Exchange because they only comply with the laws. But requiring a kyc to buy a token is a no no for me. When I see that there's token sale and it needs a kyc then I will not buy it.

But do you know how to get through the KYC in ICO, but not share personal data with them?

[ungongbuotan]

I know this kyc thing is really annoying for people who don't like sharing their personal informations online but let's not focus in that. Let us look at the bigger picture, for me if an ico implements kyc their are less chances of scammers participating making the ico a little secure. I also find ico who implements kyc a little safer and legit compared to those who doesn't.

[ginobitcoiner]

KYC for bounty hunters is actually not really needed, KYC is only needed for investors, but KYC is also useful to prevent bounty hunters from doing multiple accounts.

[patz22]

KYC for bounty hunters is actually not really needed, KYC is only needed for investors, but KYC is also useful to prevent bounty hunters from doing multiple accounts.

I believe that's one of the main reason why it is needed for bounty hunters as I saw a lot of campaigns with multiple accounts especially in social media and not only that kyc is needed as bounty hunters are stakeholders as well, we invest our time and effort and I think it is almost the same in investing your money. We also play a vital role in its(ico) success.

[anilsaini.jaipur]

Yes, KYC is required by many ICOs. This is to comply with various countries rules and regulations. Also ICOs require this so that people does not misuse bounty and airdrops. But we should only provide our details to ICOs which seems legit else the info can be misused too.

[Kryten12]

Yes of course you need to give them, those are regulations that have been imposed upon the crypto space by most ccountries in efforts to eradicate money laundering. You will notice that most exchanges require KYC also so you need to wake up and accept the changing landscape or leave.

[pattley]

KYC is one of the irritating things about crypto.  It goes against everything that crypto is but a large part of people actually want it.  I feel like its just the projects covering their ass and putting our personal data at risk. 

[Netnox]

Normally I skip those ICOs which require KYC. Because the scanned documents that we submit can be used for crimes. And if they end up with the government agencies, then there will be added scrutiny of your financials and tax returns.

[UAE Seasider]

what you are seeing is governments attempts to regulate the industry. For ICO it is to prevent money laundering from taking place although recently looks like a great way to flush money not make any! For airdrops and bounty it is more likely to prevent scammers and cheats from taking multiple stakes.

[BILGPS]

Know your customer is very important in the crypto industry and many investors are looking for it so they check the KYC value and then they also study white paper where the company detail and important information available. It is all about your personal details and to know about customer that how much is he able.

[StevenCS]

KYC will continue to be mandatory and applied, because to prevent restricted country from contributing to an ico or bounty campaign, this happens because the ico organizers do not want conflicts that conflict with the law in the restricted country, so the ico organizers prefer to prevent this is by applying KYC

[loilacuaanh88]

I think this is very good but it is losing the breakthrough of ICO, ICO early in 2017 did not require KYC should grow very strong. Since many projects are banned in some countries, the project owner must ask KYC to contest the laws of other countries prohibiting ICO.

[benhill]

I have decided not have any thing with any company that requested for KYC,majority of them are scam that wanted to sell your information,somebody to buy certains things and ask for full details information,it is uncall for.

[Chandler32]

Without any form of govt regulation, I think that KYC is a very useful tool to prevent money laundering from flourishing in the crypto world.. Although I would obviously never give out personal information to shady ICOs since they are simply not worth the risk... menlo.one's ICO listing platform launch in a few months is perfect timing since we will only be required to submit KYC requirements once making ICO investing very convenient in the near future.