KYC in crypto, does it really require?

[Lasvista]

I do not agree with submitting our personal IDs. Because it can be used for illegal activities. The crypto must remain anonymous, so that people can not control it

[1715542281]

1715542281

[1715542281]

1715542281

[1715542281]

1715542281

[1715542281]

1715542281

[Quarantine34]

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 .

 Not at all.. Not all ICO's need KYC to get your tokens. KYC is a good procedure so that the team will know you as a investors. I think that KYC procedure in bounty campaigns doesn't need because for em KYC is for investors only to know if the investors are true or not..

[Prolifik]

Not always. The team may decide to introduce KYC for investors. The team is trying to act according to the law. But I do not understand why KYC is introduced for participants in the bounty.

It is required only for reducing cheaters and multi accounters.
Which is not bad, there will be less bounty tokens - higher exchange price.

[Nowherman]

I think that investors are obliged to pass KYC because the laws of many countries require investors to pass accreditation. However, I consider it unnecessary to pass KYCs from bounty-hunters, since they are not investors and receive payment for their work from ICO projects.

[kavita16]

KYC is now required to stop spammers from entering this market as we see every day that lots of spammers are coming to bounties with fake details of real members and create a problem for them. If KYC applied then no spammers can enter in any program without documents.

[rakib123]

I think kyc in crypto it really require. I think it also good for us. But sometimes many kyc are requirements many identification. All identity we can not give. So sometimes we hate many kyc system.

[canaveralnonie]

KYC is now required to stop spammers from entering this market as we see every day that lots of spammers are coming to bounties with fake details of real members and create a problem for them. If KYC applied then no spammers can enter in any program without documents.

Spammer has a solution on that, they create or they already provide a different KYC information in every account they have. Well, it's easy to make a fake KYC, specially if you have a good experienced in photo editing and document manipulating. Also, there are some thread here where they sell a lot of information to cover your problem on KYC/ATL requirements. We are progressive humans instinct, and the spammer is also count in too.

[canaveralnonie]

Not always. The team may decide to introduce KYC for investors. The team is trying to act according to the law. But I do not understand why KYC is introduced for participants in the bounty.

They required it because they want to make sure and clear about this regulation " no multiple account to join on bounty campaign". If they cannot provide a solid KYC/ATL for bounty hunter, it means there are shady movement on those accounts ( bounty hunters ). It hard to track, but everything is possible... But for me, the KYC/ATL is not so effective.

[jomel]

Well for me having KYC in cryptocurrencies it good option because of the fact that it lessen the number of alternative or fake accounts. But one of its disadvantage is that having this KYC is giving their personal information online that is too risky to all the people.

[Grobokopalka]

First of all, with the introduction of KYC, the whole essence of the cryptocurrency world is lost, which initially positioned complete anonymity. And now we are forced to provide complete information about yourself. And it is unknown where this information will go next. And one day you will learn that you issued a Bank loan. I have a very negative attitude to this procedure and I advise you to avoid it

[UniversityCoin]

KYC is now required to stop spammers from entering this market as we see every day that lots of spammers are coming to bounties with fake details of real members and create a problem for them. If KYC applied then no spammers can enter in any program without documents.

I can not agree with you. I participated in many of the ICO and bounty campaigns where I was required to undergo KYC. As a rule, it’s just providing a copy of your passport. Now on the Internet, you can find hundreds of copies of passports in free access and dishonest people have no problems to take them and send them for passing through KYC.

[TpoJIb]

Yes, KYC data transfer means that there is no more anonymity, and this contradicts the rules of cryptocurrency

[zeingrind777]

Maybe it's all for our mutual security. And I think also, ICO developers want to anticipate crime like money laundering and prevention of internal fraud in the crypto world.

[kakade]

Delivery of personal data I think this just for investors. But for now, the KYC is already running for the Bounty. And I also disagree with the Bounty that uses KYC. Because we will not know whether such personal data is secure or not. The use of KYC is feared because the data has been sent, this data can be used for the benefit of others.

[Mianae]

It's necessary, it's a measure to know your customers especially now that GDPR is on. It's a good measure to know if your investor is law compliant before they can invest in your project to avoid the government coming against the project.

[MargoGolova]

Most often, this KYC procedure is required only for investors, not for bounty hunters. And it is quite understandable since to avoid fraud and money laundering. If doing KYC for hunters, I think it is completely unnecessary

[nwanne]

I believe it is not the intention of any ICO to collect KYC from their investors, because collecting KYC takes much resources and time from them but they take KYC because that's where the regulation in the space has gotten them to, everyone want to comply with the regulation of the land, this is to prevent so many things like AML etc, So it's up to the investors to decide whether or not to submit KYC, the KYC i am against is the ones asking bounty hunters or airdrops to submit KYC, i am total against that.

[engesi]

Most ICOs require KYC verification only to prevent bounty fraudsters, but how do we know that these ICOs are not fraudsters?

[guffie]

KYC procedure for the participants the Bounty this certainly very good. But it made many people feel free to join. And I have experience that is not good about the Bounty project using KYC. And until now project it doesn't give me in return for my work. And it makes me upset, and I hope that many projects that use KYC, may be successful.

[nreal]

This issue has been discussed many times, many protest it, most projects are mandatory KYC, but in my opinion it is necessary to eliminate the fraud. The problem is that people need to choose projects, to ensure the safety of their information.