KYC in crypto, does it really require?

[Bet9ja111]

Kyc which in full is know your customer is a way the project organisers use to know so information about their customer it is sure a good idea it also for security reasons

[chadtn]

Hello. Imo KYC is against the very core of a crypto spirit (and all of these ICOs in general).
Bitcoin has no ICO and no KYC, it's supposed to be anonymous.

[JCO05]

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 .

If the project requires it, you have to send your KYC to them in order to be eligible with the tokens that you've invested or rewards if you are a bounty hunter. Not all project do require personal information but sometimes we have no choice but to do so especially if you are a bounty hunter. And personally, i don't think that it is a bad thing.

[olacubic32]

Some requires it and some don't. I heard from a friend that they now use it as scam. The reason of kyc is just making sure they are giving there coin to human not bot, so i see it as an healthy scheme but a lot of stress on there side when it comes to require kyc for bounty hunters, considering the huge figure who participated

[Oasisman]

may I also quite confused as to why this is required. KYC for the system is difficult to understand the real function. This would be quite risky If this could be done because the data sent will fall into the wrong hands and ultimately could be used for things that are not appropriate.

Im confused at first too, knowing that we are required to submit our essential information to the person over the internet which is a total stranger to us. But, one of the main purpose behind the KYC, is to protect us and the future investors from any fraudulent activities. Now, if we're too afraid the our info might fall into the wrong hands then better do a thorough research on where you want to apply for KYC verification.
Well, we didnt really realize that by using social media such as facebook, twitter, instagram and other platform,we already are exposing our identity partially.

[Hopetruel]

I think with uncertainties around legality in a lot of crypto, many projects are just trying to cover themselves. Having said that, scam projects are also likely to ask for KYC details for data harvesting and possible identity theft.
It's just one more reason to be careful.

yes, know your customer (KYC) is very important for an ICO,
because now a good and legal ICO must have such conditions,
in order to protect customers from SCAM

[antonwantbitcoin]

Personally I do not mind to share their data. This will help weed out a lot of scams. Also a bounty would be better with this check. A multi-client would be unable to work

[cabron]

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 .

If the project requires it, you have to send your KYC to them in order to be eligible with the tokens that you've invested or rewards if you are a bounty hunter. Not all project do require personal information but sometimes we have no choice but to do so especially if you are a bounty hunter. And personally, i don't think that it is a bad thing.

Its just how things work now. They are trying to get more information because of regulations, KYC is needed in fact there are ICOs not for sale to US and Chinese nationals due to the country's regulations. Some parts of the world just don't have tight regulations so we are welcome but I doubt some are open to sending their data to these team.  My brother forget his tokens bought from ICO which is about 3ETH worth because it asked his details.

[cuteness]

maybe we must follow the rules. because there's country restricted to buy cryprocurrency that we usually see in terms and condition in ICOs. but before you buy that altcoin you need to check it first if its legit.

[spaopera]

I try not to participate in projects that require KYC. Because it reduces the level of confidentiality inherent in the cryptocurrency industry.

[Packagetol]

To me as a person know your customer is not really a necessary thing just that one must follow the thread and since one even need to go through it to be able to trade one crypto currency on some exchanges. We don't have any choice ...

[rutherford]

KYC stands for Know Your Customer, so the purpose is actually to know their customers. But KYC usually used only for investors not for bounty hunters. I don't think it's neccessary for us bounty hunters to fill out the KYC form because we don't actually buy the coins. Besides, we can't just hand on our personal data to someone or some company that we don't know. Our data could be misused.

[GigaCash]

KYC is to help with anti money laundering as otherwise people could invest millions into a ICO without any knowledge that they could be money laundering

[nemey]

KYC means Know Your Customer, is a way to ensure that the costumer is real person with legal constitution to buy or contribute in the ICO. For, some countries ban or forbid their citizen to join the crypto. Therefore, KYC is required to ensure the rules from some countries. however, I think that it is too risky to give our identity to the some other people around the world. Just be picky and selective to pick the ICO with KYC.

[rellor]

I think the good way to pass KYC are the services like Telegram Passport or Civic, KEY, SELFKEY. You are send the docs to trusted company and then they are approve that you are real.

[merrillolive]

They ask KYC is not necessary, in my opinion it should not be because after the KYC received the tokens code and they sold out, the KYC becomes nen meaningless

[paulscathedral]

I am sad to state this fact, but Yes, KYC is currently an important part of the cryptocurrency world. If you want to trade or sell cryptocurrency for a dollar at the normal rate, you will certainly need to pass the verification on the necessary resources.

[uchethiya]

I'm also agree with your points. Some of bounty campaigns are required to make KYC on their website and they say that is because of scammers. But I think it is not comfortable to bounty participants to make KYC. Bounty hunters are not suppose to expose their personal secrets information to another.

[Xumnelok]

KYC has the objective to security. I believe it's a little help, and furthermore I concur with presence of KYC. In any case, it does in some cases, this KYC expressions that influence us to need to think long. Since there is a KYC utilizing Passport. Yet, my own, don't have that Passport.

[ernoo]

Bitcoin was created to be a decentralized currency, that is true, but we see, that not all aspect of this market is following this style.