KYC in crypto, does it really require?

[kayvie]

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 .

No I will not submit my personal information in term of KYC or other reason not only for ICOs (Because I don't believe in it anymore) , even for some exchanges required KYC . the main reason for cryptocurrency is to accept our privacy for government and hackers .

maybe you are right, but if later all projects or exchangers ask for KYC how is your attitude? if you still insist that you don't want to surrender KYC, it means that your space will be increasingly limited, you can even be excluded from the crypto world.

that's true, the choices he might have will be limited if most of the bounty projects in this forum will require kyc. but if you consider it, bounty hunters really dont need to undergo kyc, that's what I believe, since we're not even an investor.

[1715290941]

1715290941

[1715290941]

1715290941

[1715290941]

1715290941

[1715290941]

1715290941

[Kseniya17]

I believe that participation in cryptography should be anonymous, what's the point in KYC, if you can buy fake documents. It's good that KYC is warned at the beginning of the company.

[Gabri]

I strongly recommend to avoid projects where you need to go through the KYC procedure. Transferring personal information to other hands is very risky. There is no guarantee that your documents will not be sold or stolen and then used against you.

[raphyt]

I totally agree. It's does defeat the idea of crypto which is sometimes anonymity. Submitting my details to a project in the name of ico, bounty or airdrop is really saddening. Exchanges do this in the claim of stopping not trading or security , maybe for exchanges it's understandable but others, it's just not.

[Omela44]

I strongly recommend to avoid projects where you need to go through the KYC procedure. Transferring personal information to other hands is very risky. There is no guarantee that your documents will not be sold or stolen and then used against you.

I actually have nothing against kyc, but your contribution really makes me think. Maybe i should read more about kyc and form an opinion.

[pelumi20]

I think kyc is really essential in cryptos because there are some countries that do not allow their citizens to participate in ICOs and kyc is a way to verify and make sure that they comply with rules.
It is also important in bounties and airdrop to avoid multiple entries and cheats

[mr.nby]

I strongly recommend to avoid projects where you need to go through the KYC procedure. Transferring personal information to other hands is very risky. There is no guarantee that your documents will not be sold or stolen and then used against you.

I actually have nothing against kyc, but your contribution really makes me think. Maybe i should read more about kyc and form an opinion.

Unfortunately, no one can guarantee you for what purpose the collected data will be used. And this is a big problem with KYC. Many ICOs, in particular airdrops, often collect data and disappear. Therefore, it is better to think seriously before participating in ICO with KYC procedure.

[blacktux88]

i could only tell the story for austrian icos ,
they have to get the information for the tax.
we also got an bill for the paid tokens..
i think this isnt as bad as it listen because there are less fake icos if they have to make their tax part.

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 .

[WhiteShum]

It isn't for the greater part of the ICOs that require KYC. There is a great deal of ICOs out there that you can get tied up with without utilizing KYC. That being said you should need to avoid ICOs that require KYC for you to put resources into their ventures

[wxxyrqa]

It isn't for the greater part of the ICOs that require KYC. There is a great deal of ICOs out there that you can get tied up with without utilizing KYC. That being said you should need to avoid ICOs that require KYC for you to put resources into their ventures

but how should I select the company ico, Where should I provide my personal data, And where not? if the project really has good prospects and a good team, then do not worry about registering KYC?

[jugger1028]

The less KYC there is, the more scams there will be. If crypto is to evolve into a real currency, it can't be looked upon as a haven for drug lords and Chinese/Russian scam heaven. They should KYC the shit out of all of it.. Only when normal people feel safe with crypto will it ever evolve.

[ambcoin]

It is a must to avoid money laundering and criminals from entering the market.  It is bad enough already market is still unregulated.

[Troysen]

For me it's not worth it, identity is something very delicate that we have to handle with extreme caution, you never know where those documents you gave them may stop, or what they'll use it for, and my peace of mind is worth much more than a few tokens, so I stay away from those kinds of bounties.

[idex100]

Personal identification documents can expose a person to a lot of problems such as identity theft, online bullying,harassment, fraud etc, one should only submit such documents to reputable ICOs, if in doubt, then do not submit.it is risky

[nitrinto]

KYC in cryptocurrency is not required. and I think that KIS is another loophole for scammers not to fulfill their obligations.and no one knows yet how we use your data that you sent in.

[Laxus215]

Now a days KYC are required by so many ICOs to be them on safer side as many of the exchange have requirements of KYC.I think there shouldn't be any issue with kyc for bounty huntung and investment as the amounts for them are always higher. Also in some exchanges you cannot withdraw the funds without KYC like gate.io and quoino etc

[Pet240]

Well, if I am to give my opinion, kyc should not be requested for from icon participants. It is a decentralized system. So why the need for kyc?

[Platon ES]

I try to avoid the projects where is  requested to pass the KYC. But sometimes they are been added at the finishing as new rule.

[MAXENATOR]

I personally do not like to pass KYC. Now there are no secure sites for storing personal data.
Not so long ago hacked one site, fortunately there my documents were not.

[dizzy1996]

The process of identity verification is the main weapon for multi-accounts and bots. In my opinion, this procedure contributes to the honest conduct of bounty programs, and also improves the quality of the content provided to the bounty companies