KYC in crypto, does it really require?

[detymalse]

I believe that KYC in cryptocurrency is not required. and I have a negative attitude to give their data to unknown persons

KYC is not something that should be required in the participation of a ICO sale. I don't like KYC at all.

[marksayson]

If it is required on the tokensale, then you should comply on it. It is mandatory if it required to be able to pass on their law of the other countries and like AML law and etc. But make sure to only do this if the ico project is known and legit.

[thenameisjay]

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 .

I think KYC is a good thing specially if you want to end multiple account spamming here in the forums. But it has its downsides as well because they could sell these valuable information without notifying you about it. It's really a hard bargain and I would never do it myself, but for the sake of order, I participate in KYCs.

[ginobitcoiner]

I do not support KYC verification because I am concerned about the security of my data and personal information. And I try to avoid such projects using KYC. Many projects use KYC to their advantage, and many people are willing to provide personal information because of the rewards without thinking about the consequences.

What data security do you fear? worry about what you mean? how can they make a profit with the KYC we send? isn't this right now when an ICO project applies KYC rules

[briana samomingkir]

Actually no, it's just that KYC helped the project to find out the authenticity of the data from the participants. The KYC system is applied in one of its objectives, namely to minimize data cheating by participants, or use of more than one account by a participant.

[psycox]

I think KYC is a good thing so it can prevent cheaters, especially now more and more are making bounties as the main income so I recommend using KYC.

In addition to being able to ascertain the funds they use when investing in IOO, it is also not the money laundering funds that are made. because now a lot of funds are transferred to crypto as a crime

[Leyss]

I am absolutely sure that the KYC verification for ICO generosity campaign participants should not be applied at all. Its use for bounty hunters is illegal and this phenomenon must be fought. No state is required to carry out such a check against ICO generosity campaigners.
  The ICO teams themselves came up with this test for bounty hunters, exceeding their authority. I hope that the looming regulation of the ICO process by states will eliminate this problem.

[BCSHonda]

At the moment, I also like KYC investors, in terms of investors or bounty participants, those ICO projects are potential projects. Verify real users and not fraudsters.

[laredo7mm]

At the moment, I also like KYC investors, in terms of investors or bounty participants, those ICO projects are potential projects. Verify real users and not fraudsters.

It is very good to be able to detect the cheating that exists because now the bounty is getting more cheating done to be able to get big profits. especially now, investors must also clear their data

[PalindromemordnilaP]

For me, that's really risky since you are giving your information to guys you only know from the campaign. That information might also be used against you if it happened that you will become a victim of identity theft. I also read an article about KYC that these KYC information will be sold to others so they are actually making money out from the information that you gave.

[Valzador]

For me, that's really risky since you are giving your information to guys you only know from the campaign. That information might also be used against you if it happened that you will become a victim of identity theft. I also read an article about KYC that these KYC information will be sold to others so they are actually making money out from the information that you gave.

The solution to this problem is that you do an anti-money laundering process on a platform that is known for its performance, such as https://sumsub.com

[grifinmch]

If participate or invest in ICO indeed this will be required as the KYC report. at least from the ICO requires it to flow where the coins they walk. However, it may be fairly doubtful too because if it is safe and also whether or not nobody knows. Bounty and airdrop if this may also require the destination are also the same but many are worried about this will be abused for other purposes such as fraud.

[moonblocks]

Not necessarily and especially should be carefully considered if it's only a tiny amount that you're investing

Regulation that will further improve this area should be arriving within the next year or so which will take more of the risk out of investing in ICO's

[Nexus77]

KYC is very important in ICO and Bounty to reduce fraud from investors and participants such as funds coming from crime proceeds to be used for investment or reduce cheating participants in the bounty campaign

[BTCmasterVM]

I do not like to pass KYC, and a minus is that many bounty campaigns talk about KYC only at the end of the campaign and on the one hand you really don't want to lose your profit, but on the other hand you don't want to give information about yourself either.

[GodsChosenVessel]

It does, so as to know the people that are participating in the campaign either Investors of Bounty Hunters..
KYC is Know Your Customer.

[Go jack1]

be careful in using kyc, because now there are so many scam projects, Be careful, they seem to have very good projects. but after they get investors and are not responsible. they don't care how people help him in his project

[reijusama2583]

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 .

It was not because I've join a bounty campaign it was not require KYC maybe in some campaign that wants to know whether you are a legit bounty hunter or not or for some security reasons that is why they pass it through. But on my opinion it was time consuming to have this kind of activity because it wasn't help at all the bounty hunters.

[MintCondition]

I do not like to pass KYC, and a minus is that many bounty campaigns talk about KYC only at the end of the campaign and on the one hand you really don't want to lose your profit, but on the other hand you don't want to give information about yourself either.

It should be discussed from the start, there are countries that need to implies this rules due to their countries regulation. As long as the company have a right process ion having KYC like the exchanges does then there will be no KYC problems for sure.

[NLO]

It depends in which project are you joining. Having kyc for ico is not bad for me, they can eventually avoid those scammers lurking here in cryptoworld.

KYC does not reduce the number of fraudsters, because they use fake documents for verification.