KYC in crypto, does it really require?

[bit..what?]

On the one hand i can understand the reasons for kyc, on the other hand i also see the negative sides.
The risk that your own data will appear again in the internet is great.
Thats why I do without bounties that need kyc.

[margaret22]

ICOs need KYC, because they need to compliance obligations, what their country requires, or what their lawyer tell them to do, to keep safe.

[marlo1001]

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 .

The most obvious answer to that question would be the thing that require you to do is required to do in order to do what you want to do, lol. Many projects would not give you the tokens without having you proceeding with a KYC.

[RobotNIK]

In the event that you want to collect the earned tokens, in that case you have to pass, but I do not think that this procedure should be mandatory!

[Benabod]

Kyc which means know your customer is adopted by the ICOs in compliance with government regulations in order to avoid litigation but I see no reason why ICOs require Kyc for bounty hunters to get their rewards it's not right and most annoying thing is that they only announce it at the end of the project knowing fully if they announce Kyc from the beginning most bounty hunters will skip their bounty but as it is, be careful what sensitive information you exchange online

[Elorika]

Well, I would not like my documents to be walked somewhere and someone used them, I think in cryptocurrency everyone should be anonymous!

[Johnyz]

I remember my first investment in cryptocurrency, I invested in one project and I got a message to complete my kyc before I can get paid. So sad that I failed the kyc because my pictures were not clear and a whole lot. This really scared me of kyc issues. They really help a lot though I didn't benefit.

It KYC is asked through email? I think its quiet risky to fill up that form not unless its from the team of that coin and they are announcing for that. KYC is needed now in some projects, this can be good for some reason but I still don’t want to fill up those KYC form if the project is not good.

[ganesh10]

It is a good sign that an ICO project asks for information about you, after all, they may want to make sure that you are not some scammer, at the same time, it seems kind of dangerous to give your personal information to people you don't even know, I would need to have a lot of confidence in the project to complete KYC.

[Bobwallet93]

Hi there!

In certain countries KYC is definetly required if you want to participate in a certain ICO. However only do this when you are 100% sure this is a legit project! Your KUC details are way to valuable to just give aways to someone. It can do srrieus thing to your privacy etc etc. Never perform KYC for airdrops nor bounties afterwards. These are all scam tactics.

Greetings!

[Alat2233]

I do not mind it, I think that it is important for many companies to know their client and fight money laundering, but I do not like when scammers do a KYC

[Lygushka]

For ICO, it is necessary to KYC, because you are in the position of the investor. Conscious decisions and careful calculation

[BabatundeM]

I think kyc is a good requirement to get information from prospective ICO contributors but I do not really see its importance for either bounty or airdrop participant who might end up getting an insignificant amount of tokens.

[ompoetra]

If you participate in cryptocurrencies as a money service business you must know, and comply with KYC. For example, if you are thinking about starting a Bitcoin exchange, a Bitcoin ATM, or even an ICO, (Initial Coin Offering) you must comply with KYC requirements.
So how do you “know your customer”? As Supreme Court Justice Potter Stewart stated when attempting to define pornography, “I know it when I see it.”
The Financial Crimes Enforcement Network, (FinCEN) does not set forth exact requirement that comply with KYC, however, there are items of information that you should gather from your customers

[Gralph]

KYC In cryptocurrency is a technique applicable by bounty managers to ensure that they have a proper knowledge of the customers they are transacting with. The KYC requires the customer to fill a demographic data along side a selfie picture.

The KYC Can be tagged to be a proof of authentication (POA), by extension; it aids in authenticating the identity of the customer to the bounty manager so he could be able to ascertain those actually contracting him or her. Therefore, it is a salient requirement, mostly in cases when a particular bounty has its own private wallet apart from the ERC20 wallet address.

[baeva2]

For example, this KYC procedure is very stressful for me. And today, more and more projects require the passage of this procedure. Is it really impossible to do without it?

[VeteranH]

I think KYC is a good sign that shows credibility of the ICO they belong, they could be just trying to verify you are not stealing someone else's identity.

[Finnisd]

I believe that KYC is not required for cryptocurrency at all. otherwise, her anonymity will be lost.

[pugi2]

It is not for all of the ICOs that require KYC. There are a lot of ICOs out there that you can buy into without using KYC. That being said you might want to steer clear of ICOs that require kyc for you to invest in their projects. Reasons being that there are a lot of things that can be done with your sensitive information that you give to these people they can sell it on the dark web and you will have your identity stolen.

I think this is not what he want to know. He asked is the kyc really need in cryptocurrency or not? I think kyc is not really need in cryptocurrency since the main thing in cryptocurrency is privacy. So thats why there are privacy coin now. But the objective of kyc is to prevent the money laundring so this mean for special investor who invest too much, they are the only one who need kyc.

[fitzzz]

Crypto does not need KYC since it was created first being anonymous. It creates trust on any transaction for both parties. But when the times that many use crypto to scam  people we should know now who we are going to transact with. And for an ICO, KYC was done because other country didn't permit their people to join ICO.

[tterrorpipa]

Actually, KYC is never required before making an investment in the ICO. But now, it has been filtered out by the goverment in the other country, forcing the project team to conduct KYC verification before making an investment, because of the law compliance.