KYC for ICO, is it good or bad idea?

[foxbitcoin]

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.

I think KYC can identify real cryptocurrency investors and filter out countries that have restrictions on ICO projects. However, there are also some bad places, and the privacy information of investors may be exposed. The most important point is that KYC's ICO project has higher real reliability.

[vhns222]

As everything it has 2 sides one good and bad good is ,its against scam and would help save investors but bad is ,its against cryptos main idea, hide users presonal info.

[JaoBadjap]

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.

i think the core values of the cryptocurrenct is anonimousity.
with KYC it violates it.
that is why its really against the value.
though with fast transaction and secure transaction of crypto
it thinks KYC isnt that necessary for such projects.
privacy is one of our inherent rights. and i think for just a handful of coins were selling our privacy.
in which we woudlnt know for sure where they will use our information

[Dim4ik]

I think it's bad for the reason that people who are passionate about cryptocurrencies came here not because they wanted to but because they wanted a little more anonymity and thus KYC all anonymity comes to naught

[kipozer]

The KYC process today is only useful for project developers, who will then report to the SEC to show that they raised money from people who clearly do not belong to the citizens of USA. This is the main idea, but they are not stupid people either.

[dadisde]

KYC is a great tool for an ICO. It will help to protect investors and the project from different scammers and cheaters. But KYC does not guarantee, that the ICO will be successful. Another disadvantage, is that if the project goes scam, our data will get lost.

[bakermaker123]

Do you think this is a good or bad idea? Express your opinion.

IMO,  KYC is a good idea mainly because it is done for the project's improvement and development. However, what I do not understand is that they are requiring KYC for airdrops. I think that is not a good idea in that part

[sulis sudibyo]

as long as it is needed, I don't think it's a bad thing. but in my opinion it is not only investors who have to do KYC verification but the bounty hunters also have to do it. because with KYC verification it can reduce multi-account problems and other fraud.

[krassy]

ok, based on your opinions and ideas ,I will try to draw a table to graphically more clearly reflect the situation with the KYC:

                                                                 good idea       bad idea               reason

KYC for ICO founders (CEO, token sellers)           +                    -                  responsibility, trust, not scam
KYC for bounty hunters                                       -                     +                not a bot, to eliminate multiaccounts, to exclude the participation of the citizens of USA
                                                                                                                 and other cryptoclosed countries
KYC for investors (token buyers)                          +                     -                to exclude the participation of the citizens of USA and other cryptoclosed countries
KYC for exchanges  (traders)                               +                      -               tax payments


Like most forum members I see no point in passing the KYC to the bounty hunters, in other cases this procedure makes sense.

[Gontxi]

At present, on average, each ICO project carries out KYC for both investors and bounty hunters. this is because there are many factors, especially in legal matters.
and for campaigners it is to prevent farmers from using multiple accounts. yes that's why KYC is always involved

[zeze18]

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.

Actually it's good due to many people double their account for joining ICO which has a limit buy.
So, KYC is pretty good for buying an ICO or doing bounty for the project

[pufenduy]

On the one hand, it is a great idea because the KYC process, helps to protect the ICOs from different scammers. But on the other hand, when an ICO do not collect their funds, they are usually not doing anything. In these moments I am pretty scary about the safety of my personal information.

[kokrokok]

if KYC for ico in my opinion it is very beneficial because by verifying the requested data can maintain the assets that we have invested so that when there is a problem we can provide our data according to our first come

[jrrsparkles]

KYC is against decentralization which also means it is aginst the crypto currencies but still the new crypto projects needs KYC verification before or after investing it maybe good to stop the people from investing on ICO projects where the ICO investment is banned but the bad side is our personal information can be exposed to the world.

[Nggedebus]

In term of verification that is a good move to make, but in term of private data security, that can be a problem, cause when the site is com promized by a hacker then the data from any of the investors that already done the KYC would be in danger.

[BogdanGFTP]

Your proposal has some safety issues for founders. When they provide KYC for investors the information they gained is not publicly available. And you propose to get founder's ID scan and security number available for anyone? Nobody will agree with this.

[ereborltc]

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.

I think KYC certification is good for ICO projects, so you can avoid citizen participation in restricted countries.

[BabatundeM]

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.

I really support your idea, I think if kyc procedures is also required for the team and developers of an ico, the rate at which these scam ICOs disappear with investor's fund will be reduced to the bearest minimum and also boost investor's confidence in the project which will also enhance its success.

[altcoinhunter01]

cryptocurrency market theme was anonymity but with KYC, that purpose quashed. I am in favor of it as the purpose to get it is to know the real credentials of investors.

[Argoo]

I believe that KYC testing plays a more negative role in ICO than a positive one. When buying new tons in ICO, investors actually exchange Bitcoin, etbereum, less often another cryptocurrency for these new tokens. If a person already has a cryptocurrency, why again demand confidential data from him? . What kind of cryptocurrency, if at every step we report not only their data, then send copies of their documents? And who, in projects that are 80 percent fraudulent.
However, the paradox is that such a check is demanded from the participants of the campaign by the generosity of the ICO, who are in no way connected with the payment of cryptocurrency or other types of money. This is clearly illegal. By the way, not a single ICO team indicated the document on the basis of which they demand to pass a KYC test from bounty hunters. This is the usual arbitrariness, and sometimes fraud.