KYC in crypto, does it really require?

[dreammoney710]

I don’t think KYC is quite necessary in all aspect of Cryptocurrency. There may be some ICOs that will require personal information as KYC. One has to be careful regarding submitting his or her personal detail.

[saviorod30]

No, Kyc means Know your customer. some projects require kyc to ico, airdrop. Avoid cheats or other countries that prohibit crypto. There are also some scams to get information of participants.Be careful before sending your personal documents otherwise they can misuses using your identity.  You should learn more about the project to avoid scam.

[coino.org]

it was not required originally, but probably someone wants to make crypto centralised and add taxes to crypto incomes, that's why just all of ICOs and exchanges demand KYC.

[cryptofan999]

There are many projects that wouldn't require KYC in their offerings. Giving personal information in the form of KYC is not a smart move. Because the person who is submitting doesn't know where this info will be used.

[meaamir86]

If you have been in the cryptocurrency space long enough, you’ll recall that exchanges like Poloniex, Binance, and many others did not originally require users to submit any information. Now, however, users are required to upload a form of identification to prove that they are who they claim to be.

And in general, crypto firms are under increasing harassment from regulators. Following Coincheck’s infamous hack in Japan where almost $530 million of digital currency was stolen, two more exchanges in the country — Mr. Exchange and Tokyo GateWay — will be shutting down operations in the country because they can’t uphold the regulatory requirements.

[Tasiril]

I think giving KYC for reputed and real projects is no matter. but there are fake ICO's that asking KYC for bounty participant also.In now we have to careful lot when even for selecting a bounty to do

[Aptekary]

I think giving KYC for reputed and real projects is no matter. but there are fake ICO's that asking KYC for bounty participant also.In now we have to careful lot when even for selecting a bounty to do

to date, almost half of the company's Bounty already requires the provision of personal data. But it will be even worse if you need to confirm your personal data with a phone call or VibER or Skype.

[Crypdon]

It depends on the country and payment type. In America the rules are more strict and KYC is usually required. It isn't a bad thing, there are too many scammers prowling these markets, KYC if applied to the project team will help investors weed out the crooks

[worldtraveller505]

Anyone can be tempted to give sensitive information in the form of KYC. There is always a chance that this info will be misused. Therefore one needs to be careful as KYC is not mandatory to ICOs, airdrops etc.

[premiumproductss]

it was not required originally, but probably someone wants to make crypto centralised and add taxes to crypto incomes, that's why just all of ICOs and exchanges demand KYC.

The governments and banks need to know everything about you because you could be "dangerous" for your country. And also they are afraid that you will not pay taxes and blah blah blah. We do not live in freedom .

[bitcoinminer566]

honestly speaking it is not , it not require for all it is actually limited on a certain amount of people so I will advise everyone to not to think about it until you gets the proper information

[biddicoin]

KYC is used to verify the authenticity of the user. But I am only worried if there is a misuse of data used by irresponsible parties. Which can hurt many people.

until now there is no any abuse for KYC in cryptocurrency. they use KYC as i should be
that's why i dont worry to give them my personal data to fill KYC

[bitcoinhero777]

The crypto is decentralization, it is not necessary to give personal information here. I think we should come out of this way. We can not centralize crypto with our data. I think you're right.

[AndyKete]

Most people completely say that Know Your Customer isn´t a justifiable process for a large number of coins. They do not have the righs of securities and should not require of that approach.

[Demonster]

I think decentralization of crypto does not require any personal information here. You said right. Trying to centralize crypto means it is against policy. I want to know more about this.

[Aniwura]

Left to me, i do not support the integration of KYC into crypto, not to even talk of bounty. There are times i just don't understand and get scared whenever personal dara are being asked for.

[minttop]

I am against KYC, but to my regret it became a requirement. So, I stick to buy fake documents and pass KYC using such methods, because I don't want to disclose identity.
I have never failed KYC , all ICOs even with KYC intermediaries like Sub and Substance accepted my fake documents

[Kjara]

KYC is used to verify the authenticity of the user. But I am only worried if there is a misuse of data used by irresponsible parties. Which can hurt many people.

until now there is no any abuse for KYC in cryptocurrency. they use KYC as i should be
that's why i dont worry to give them my personal data to fill KYC

Goggle and search through the forum, there are tens of cases when was detected that KYC databases were sold and people found their personal information leaked.
Do you think selling personal data is normal and legal?

[shadyrifles]

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 .

Yes, the KYC verification is important when the user is investing their money in ICOs. Imagine if you traveling without your National ID or Passport or going to school or office without your identification card. For the cryptocurrency projects and exchanges, this is the same thing and doing business with people they have not personally vetted. However, I don't support the KYC verification of users for airdrop and bounty campaigns because there is no financial involvement from the user side.

[romaleshc]

KYC in cryptocurrency is not required for bounty participants because I think the purpose of KYC is to prevent someone from cheating and to manipulate the ICO. Therefore, KYC should only invest with the investors in the project. Therefore, KYC should not be used with bounty and airdrop members.