KYC in crypto, does it really require?

[Huntler1993]

I don't really support the idea of KYC for investors since they get their token with their hard earned money, for bounty hunters it could be implemented to reduce  cheating rate. The most interesting thing not all projects requires KYC.

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[transformt]

I really think that this is a mandatory rule that every bounty campaign should have. this way we will be able to deal with fraudsters in the cryptocurrency market

[ci1990]

KYC is necessary to be able to comply with regulations of most of the countries. ICO's may have legal problems if they can't show where their money came from. So I think KYC makes sense.

However there may be some bad intentions from some ICO's as well.. like selling KYC docs. You never know.

[Sniper76]

I don't really support the idea of KYC for investors since they get their token with their hard earned money, for bounty hunters it could be implemented to reduce  cheating rate. The most interesting thing not all projects requires KYC.

The developers of each project have the right to set their own rules for all participants of investment or bounty campaigns.
I hope that the time will come when the developers themselves will spread such information about themselves and their campaigns in order to avoid deception.

[moschinot]

I think this is absolutely wrong. I am not obliged to send my data to some scammers who are not registered in any way

[Cactushrt]

I think this is absolutely wrong. I am not obliged to send my data to some scammers who are not registered in any way

You're right unless they will use a trusted company doing KYC like civic because providing your identification can be risky

[DamilolaB]

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 quite agree with you because to me our personal information are too sensitive to be divulged to anyhow person all in the name of investing or participating in bounties or airdrops. To some extent it is still reasonable for investors as a result of some regional restrictions but how about bounties and airdrop, what if bounty participant from a crypto restricted region participate in a bounty or airdrop, would he be denied his reward because of this?

[tinystone26]

I participated some campaign that use to have a KYC to prevent the scam of some people but after the campaign reaches the campaigns end they just announced not to have a KYC to their campaign because they said that it would be a waste of time to get the participants personal data it would take too much time.

[Ravenangel]

I think that in these uncertain times is a necessary measure because many desperate investors are looking for easy investments that can generate them money, so they are almost always scammed, with the KYC in place I think we can avoid that because the scammers would be exposed to the system.

[WhiteShum]

You say that as if the company does not bear the transaction costs due to the KYC. Their main goal is to protect themselves from the legal side.

[NoG-NoG]

I think that having a KYC requirement in crypto is a very beneficial and a good thing to do especially for several ICO in order to lessen the people who took advantage and to lessen the people who always makes multiple accounts.

[FirstCryptic]

KYC in a crypto is a completely unnecessary thing in real time. When the time comes for civilized cryptography and there will be a serious responsibility of project developers for their work, taxation of investors and developers will be taxed - then the normal situation will be KYC passing in crypto.

[Rockkey]

I think that KYC for investors is a necessary thing. However, given the large number of fraudulent projects that exist now, this procedure should be carried out by an official certified organization authorized by the government.

[Argoo]

KYC is necessary in some cases to prevent the prevention of dirty money laundering and in general to collect data on the possible use of conventional money and cryptocurrency for illegal purposes that can be sent at the request of the relevant authorities of various states.
 However, here I am interested in the issue of passing KYC verification by ICO generosity campaigners. I am absolutely sure that bounty hunters do not need to go through it, since we do not use our money and we cannot commit the above violations. Requirements of ICO recruiting teams that bounty hunters pass such a check by KYC illegally.

[spaso_87]

I am less familiar is that enough important and not. However, when it was used as the archive data about the recipient of the coins it will become important. Moreover, this will reduce the use of multiple accounts there. Yet many also feel it is quite risky because certainly, KYC will be harmful if misused by irresponsible parties. and these are mostly made in doubt.

[NLO]

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

Now many projects require KYC. It seems that this is already the responsibility of the bounty hunters to pass verification. Be careful when choosing a project!

[NLO]

I am less familiar is that enough important and not. However, when it was used as the archive data about the recipient of the coins it will become important. Moreover, this will reduce the use of multiple accounts there. Yet many also feel it is quite risky because certainly, KYC will be harmful if misused by irresponsible parties. and these are mostly made in doubt.

KYC can reduce the number of multi accounts, but does not eliminate them. Since their owners use fake documents that are bought on the black market.

[stock999]

I never do  KYC in ICO, bounty campaigns, exchanges, etc.  I never participate in such projects, prefer to stay away.
The 1st&main reason: cryptocurrency has been created as anonymous money and should remain like this. I don't see any need to broke this basic principle.
Another reason: i don't trust any of them so much in order to give them copies of my ID documents. I don't want if my documents would be stolen, or sold, or used in any other way, etc.
So it would  be better to reject such projects for a safety, fortunately there is a wide choice of those who doesn't require KYC.

[mika1977]

I, too, have always been an opponent of this procedure for ICO, the whole idea of cryptocurrency and anonymity is violated

[jak3]

That is absolutely not necessary but let them take it if they feel safer and in addition to all of this it really doesn't add a verification step which can help everyone in the future. Which we do not have right now with cryptocurrencies, if we get robbed or something else happen we cannot blame anyone because it is our coin and my security is the most level security from my wallet.