KYC in crypto, does it really require?

[Robertqueen2]

In some cases, yes, KYC is essential in order to avoid malicious acts and spams.

[Kunlejoe0]

ICO is going mainstream and many governments around the world are beginning to appreciate the unique approach of ICO funding and how it could benefit the economic segment that is overlooked. Kyc will help with government regulations and prevent scam!

[Marina17]

I don't think that's necessary. For example, I participate in the bounty, where are 18 payments, 7 of them were without any KYC, now suddenly began to demand it, the question is why now, after all, nothing was needed before.

[elrugrim]

I don't think that's necessary. For example, I participate in the bounty, where are 18 payments, 7 of them were without any KYC, now suddenly began to demand it, the question is why now, after all, nothing was needed before.

It's strange to talk about crypto identification, because everything must be anonymous. However, this is necessary when we are talking about fundraising, KYC is needed to reduce the number of scammers.

[Bounty_Hunter]

I think that's pretty good. This allows you to exclude multiple participants in the bounty of companies and enhances trust. IMHO

[lotfiuser]

its a good thing for multiple accounts cheaters I like it in airdrop and bounty even if I'm against using it in crypto but due to cheaters KYC must be used to avoid cheaters

[Cacaparg]

To my mind it is useful thing for investors or ICO particiants. however for bounty members it is unreasonable thing. Also it is unfair thing when KYC announced in the end of bounty compaign

[fosco333]

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 you want to investing anonymously, maybe you cannot do that because there are some ICO companies doesn't accept investors from a certain country, and that is why they need investors to submit their Identity data (KYC). For bounty and airdrop, i don't see any compulsion to participate in KYC.
If you a bounty hunter, you may avoid bounty program that requiring KYC to get your rewards.

[Obama07]

In this online market recently lots of program want to kyc but there are too many people don't like kyc because people think no need to share anyone else about his personal info so they think that, it is not good to provide personal info in any kind of unknown person. As I know it is no matter or no fact for fill up KYC because you can use KYC as a know your customer. Company wants there are work only real people some people use multiple accounts so this company want to KYC I think this is good for company reputation.

[Auna]

I personally don't feel like sharing my personal informations with other. But it's true I also participated in some KYC. There are some bounty campaigns which mention about KYC at the end of the campaign. And when you work in a campaign for a long period of time and at the end you come to know that all your tokens are at stakes only because of KYC, that really hurts. I find it completely useless and inappropriate.

[megaplage]

I absolutely do not understand why this is necessary. I don't see any reason to send my passport details. Surely if I send the passport details it will be better to talk about the project or you will get a little more money because of this? Very stupid and pointless.

[Qu1ck$1Lv3r]

That is sometimes useless. Because sometimes we are sending our personal files for only investing 1k dollar.. That is incredible. If we are buying 100 k dollar bitcoin or if we are investing 100 k dollar yes i think it need to be necessary. but for 500 dollar for 1k dollar it is really useless and with that way people can steal our personal documents .

[jugger1028]

if you lowered the requirements for KYC to 1k dollars, you'd have one guy from China making 100 accounts and trading 100k worth. When you set rules for the limitation of KYC, you set methods to get around KYC. That's why KYC has to be for everyone, big and small..

[lornadane]

Of course, it is needed nowadays! Without proper KYC, How do you know your customer? Though crypto promises an anonymous network but still KYC is good to prevent projects from scammer

[DelevIsak]

Of course, it is needed nowadays! Without proper KYC, How do you know your customer? Though crypto promises an anonymous network but still KYC is good to prevent projects from scammer

What you are writing does not make sense. The tokens can be bought on an exchange without kyc.

[Classica35]

I cannot give my personal data for kyc. Bounty hunters are not investors and are just working to promote the project. Therefore, kyc should not be required from them. There are even some ICO that do not ask investors to do KYC.

[zhengqiurong2@163.com]

Personal opinion, I think KYC is not useful. It violates the anonymity of the cryptocurrency. Maybe some coins need KYC and the ICO team needs KYC. Other than that, it's useless.

[ashlyvash00]

For me if you just think carefully kyc is limiting the buyer to buy more and i think kyc is not required the inportant is the token is being sold no need to know who buy on it. Kyc is good not good

[martabaktelor]

I think there is no need to use KYC because this process typically used by investors. And if this is applied to the participants of the campaign will certainly become a problem unto itself. Because when we submit personal data, we do not know of such personal data will be used for what. And we fear if the personal data are used for evil. Of course, we will be harmed by it.

[FirstCryptic]

I believe that KYC is used in crypto only for some vague fraudulent actions. Another use of KYC leads to a decrease in the number of investors, especially large investors, which is reflected in the results of ICO projects.