KYC for ICO, is it good or bad idea?

[maculeth]

good for stopping multiple accounts in the same project. but it's bad for multiple accounts that want to follow ico a lot to get even more profit. then which side are we on? one account with kyc, or many accounts and avoid kyc? everything aims well, provided that the work is also done well and also the rewards obtained are also good.

[GmBoom]

It is a good idea. Because if you find a good ico and have a KYC requirement, then you must comply on it in order to participate in the tokensale. They have just required it, because of their law compliance in the country. As long as the ico campaign you join to is a legit one.

[Abu Shadow]

I think, there is always positive and negative opinion for the KYC for ICO. The purpose of KYC is to avoid money laundering and fraud.

Yeah that's true but for those bounty hunters this is just a waste of time to us and gives us a problem in the future if those ICO will use it for other propose. It can cause danger to our personal identity for just few dollars of bounty reward.

[jcarlo]

Implementing the use of KYC in an ICO is indeed a good method to minimize cheating that can be done by participants. But the KYC system was quite complicated and the process was quite long, and that was not liked by the crypto community. If between the ICO and KYC can produce balanced results it will be good, so it is not too futile to take care of the process.

Its true. Many scam ICOs right now and i am believe they want to comply with government regulation to protect investor fund. Cryptocurrency in some country consider as security token and need KYC to protect investor money

[feelideb]

Kyc for ICO is not all bad, is not all good! The cryptocurrency is evolving and some believe hold tightly in the past might not be applicable or relevant anymore!

[roxasyolanda]

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP,  use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

kyc for ico investors are so bad in my opinion, kyc should be implemented by the team member of a certain ico or project so that investors wont be afraid to invest, this is also to prevent scam project that were so high in this time of year.

[princeyeboah]

I am not against the ideology of KYC because every strong platform or business need the data base of its users in order to track their progress. Also, KYC is needed for verification purposes especially in the event when double entry by a single participant is expected. With this, the ICO must state it clearly to treat all collected data with the highest discretion and not to use the data for any dark activity.

[Btcmarmipp2]

I am not against the ideology of KYC because every strong platform or business need the data base of its users in order to track their progress. Also, KYC is needed for verification purposes especially in the event when double entry by a single participant is expected. With this, the ICO must state it clearly to treat all collected data with the highest discretion and not to use the data for any dark activity.

I agree with you in your statement, KYC is really important to the project to avoid double entry of each participants. Big ICO's is just protecting and securing that no one would be fall into scam.

[shaheer001]

If you consider it decentralized then no need f KYC as then this will called banking or trading in fiat money.

[djuragan]

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP,  use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

In my opinion, if it used to filter the people who are purchasing the coins, that could be a good thing to do, cause we can't just simply filter the IP address of the coin buyer.
But it would be awful if the one making that KYC is scam project, they could sell our personal data in the black market, and used them for something bad.

[fly99]

If KYC is used for the ICO project, then I think 99% of ICO will not succeed. This is not a good thing, investors will not be willing to expose their assets. Future STO can solve these problems.

[elzjmirra]

The procedure for using KYC is very good and all ICO projects for prizes can use KYC. And implementing KYC has very positive things and can reduce the use of many accounts. However, you must be careful in this matter and do not easily send your personal data to others.

[Shirin16]

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP,  use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

very good in my opinion ,.
with KYC, a project will be safer because it is protected by an authorized legal entity. and we will know the spread of tokens or coins that are owned by a project so that we can monitor the development of tokens or coins. can also avoid fraud.

[Snake9999]

If the project is real, then KYC can not only effectively avoid fraudsters but also improve the income of our hunters (because KYC will limit many participants), but the fact is that most projects are scams, when we provide KYC, we Just revealing your privacy, but did not get any return!

[Matcuda]

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP,  use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

KYC can be used only for the organizers of the project, for the investor it is unnecessary, fraud is just happening on the part of sellers, not buyers, and try to impose KYC on everyone, it's not right.

[Karlblaise1]

Sometimes i wonder why people have issues with KYC. The main purpose of that is just so identify yourself as the owner of the asset holding.

What if someone comes to lay claim to your wallet, with all the millions in it? KYC will definitely be your saving grace. Let's not overfrog the issue, except someone that has something to hide,  it is not a bad idea.

Again, the holders of the KYC shud be held liable if the privacy of the holders gets violated. That is the main area that needs an attention for now; enforcement of privacy

[Ozero]

KYC checking for ICO projects is a very bad idea. Because of this, many investors bypass those ICO projects that require you to undergo a KYC check. After that, the ICO teams still wonder why investors do not want to buy their tokens. All these claims of the United States and China do not have so much importance, because the Cryptocurrency does not go only in these two countries.
As for bounty hunters, they should not be tested by KYC at all, since they are not investors. Checking KYC for them, especially at the end of the ICO, is simply a deceptive way of not paying off some of the bounty hunters they earned tokens.

[lamacchia]

actually the basic purpose of KYC is good, it's just that now many people doubt that KYC will be abused and most people now avoid ico or those who need KYC, even though the basic purpose of KYC is to ensure that those participating in ico are not a BOT, so why should there be KYC and require sending and including personal data to check whether the participants are people and not BOT.

[Anatolich]

actually the basic purpose of KYC is good, it's just that now many people doubt that KYC will be abused and most people now avoid ico or those who need KYC, even though the basic purpose of KYC is to ensure that those participating in ico are not a BOT, so why should there be KYC and require sending and including personal data to check whether the participants are people and not BOT.

Something new would come up, since kyc is passed, in fraudulent ico is not something that reluctance. And it is dangerous. Maybe it will be from someone else a new idea, and we will forget about such a problem once and for all. So far, there is nothing to offer.

[Furious 7]

actually the basic purpose of KYC is good, it's just that now many people doubt that KYC will be abused and most people now avoid ico or those who need KYC, even though the basic purpose of KYC is to ensure that those participating in ico are not a BOT, so why should there be KYC and require sending and including personal data to check whether the participants are people and not BOT.

I also began to hesitate with KYC, I think personal data must have legal protection so that data is not easily misused.
there must be certainty that the data sent is safe. avoid KYC if you are unsure of the security of your data.