KYC in crypto, does it really require?

[jerry29@]

Yes after different data theft, GDPR comes in to play on 25May 2018. And a special act was made known as AML ( Anti money laundering). We have to give the kyc because crypto is a strong factor for giving boost to money laundering. Thus it will help to make crypto to the masses. And government will be happy with its regulations.

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[BItCoinPidger]

As far as I know, KYC only means "Know your customer" and it is not a bad thing for me but yes, obviously it depends on which ICO you are giving your information to.  KYC also helps to avoid the scams.

[Welinigh]

Not all ico but some of them and some airdrops require kyc. They ask for it as crypto is prohibited in some countries and they need to know if you are allowed to deal with it. I will suggest you to avoid projects which asks for KYC if you feel it unsafe to share your details.

[Aloon]

Yes, I do agree with you but there are some ICO which will require KYC, not all. Getting into any ICO you need to make sure about your security, because of the scams and It will be wise to not to take part in those ICO which require KYC.

[Dinchik]

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 agree with the author absolutely. I also think that the procedure of the KYC completely crosses the essence of the crypto currency, as a decentralized system.

[UniversityCoin]

KYC identification helps to avoid dishonest participants who own a lot of accounts. That will increase the earnings of honest people.

[dgoswami12]

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 are mostly asked by Ico and Exchanges. If any bounty or airdrop require kyc i would like to avoid that , thoughi personally think kyc should be implemented in case of bounties or airdrop as there are a lot of cheaters who creates 100 of account to get airdrop . Same with exchange , most exchanges ask kyc for a certain upper withdrawl limit. If you are a normal trader and dealing in less than 1 btc per day , i think that is possible without kyc. Some exchanges need kyc for withdrawl , i dont like them and some exchanges want kyc as they give Airdrop and create voting ( they implement kyc to get rid of cheaters). And Ico s really need kyc because some countries like chaina , usa  , korea , singapore dont allow to conduct ico  , so if any person from these countries participate in ico , there maybe a legal issue for companies. And i think as long as you are giving Driver Licence or that kind of stuff to pass kyc , that is not soo vital to threat.

[verrela10]

goverment has made the regulation about KYC in crypto, it purposes for avoiding money laundrying
i am as cryptoenthusiat just do what they want, i am nevermind to fix KYC

[pithenclacke]

You should try to look for those which doesn't require KYC. As we all know, currently, most of the ICOs are the scam. So, we as a user should be very careful while choosing because of one mistake we may face so many problems.

[Olajide Olaoluwa]

Kyc is not that bad for investors because it will let them know who the investors are. But for bounty hunters it's not that good. Because disclosing one's Identity is not that good because it maight has adverse effects in the nearest future.

[Utkaleika]

 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.

[Sistivib]

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.

[thichtieuthuong]

KYC is good for ICOs because it will make people trust in projects and strategies but is bad for investors and data leakage besides i think personal information is easy for bad guys to do things. Dangerous and using information to register and stole the current bank money to join ICOS, one must register KYC. It is very hard in this respect.

[krauzzer02]

Kyc This simply mean know your customer this is a way in which the project get to know and authenticate their customers like know the nationality, sex, name and much more it is also a form of security and it protects both the interest of the project organisers and customer

They can also use or sell your documents that contain personal info, complete address and your valuable ID data which is known as identity theft, some scam ICO will have some valid reason that it was handed by their trusted third-party checker but in reality, they can access your sensitive information once you've filled out those forms and pictures, check the ICO very carefully before engaging from their KYC forms you may not know what will happen in the future, it doesn't even make sense if the bounty that you've signup to work will require some most especially if they are paying their participants with a few bucks of token that was not even released on the exchanges nor having its value

[Febo]

KYC in crypto, does it really require?

No it dont. Crypto currency is secured by Proof of Work. So you can mine coins and then send them around. You do not need to share your information with anyone. Well if you buy something you need to tell them where to send your grocery. P


KYC is for securities, what all ICOs are.

[btchunter786]

KYC is not a must in crypto market. Some ICOs need it and some doesn't. Some ICOs need it for better service. But not all of them will use this in good purpose, some ICOs use these info in illegal ways which you need to be very careful about. Always check the ICO.

[Ar.harry]

There are some ico's which we need to do kyc. It is not needed for all bounties, some ico's who need kyc will mention in their official thread that they need kyc not all kyc. so you need to check the official page first before taking part in ics's.

[www_blockchain]

The Crypto currency is considered anonymous and should remain so forever, so I think that the KYC procedure is useless and none of the large investors will pass it, because they want to be anonymous.

[Conte_Forni]

There have already been a lot of discussions on this topic, but everyone has come to terms with it, I do not understand why they need information to be honest, they say to understand people or robots, and then what they do with this information is not who knows who is really just to verify the identity, and someone badly does bad things.

[LS Crypto]

Because you send real money, so you play by the rules of the world real money, and not a wrapper. You can buy tokens, but kyc is quite logical. For a civilized country and a law-abiding citizen, indetification is not a problem, often agitate for the anonymity of those who have something to hide