KYC for ICO, is it good or bad idea?

[ashaksagnis]

Although there could be some good reasons for the developers for the need of KYC in their ICOs, still I think this will scare a lot of investors knowing their personal information will be surrendered, and most participants in crypto prefer to be anonymous.

what are the good reasons? especially this will scare a lot of investores when they see that id need to be uploaded to google form. I have seen on many ico's. This is very frustrating.

[Krabat]

Each country has its own laws on this subject. This means that KYC is not a prerequisite for all projects. Each project should take the conditions of the legislation in the countries of its investors and in accordance with this should build its own policy regarding the KYC.

[o.ogurlu]

I don't support KYC in the current market situation. Because there are unfortunately too many frauds in the market. And in a situation where there are so many frauds, I don't think it is right to share my credentials. That's why I'm fillng a KYC form for only projects which have a good team members.

[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.

I think that KYC is not an idea to protect investors from fraud, KYC is introduced for something completely different, but for what, we do not know. I think that we will understand this only in many years, and maybe decades. In fact, KYC doesn't protect us.

[Turkish88]

KYC for ICO is necessary to stop participaiting residents from some countries how USA
Many ICO dont acept funds from us citizens because if they accept funds from him, they need to registrate their company in SEC

[Broiler78]

That is a very brilliant idea in my opinion. KYC is very important for investors or sales and purchases so that security is maintained. I think this must be done by all projects.

[YoungMaster]

I think this is more towards a bad idea, because this can be potentially lead to an identity theft. and again those who do the procedure, can get tokens that are not valuable on the market if they follow the wrong project.

[alexsoul]

I agree that the lack of proper regulation exposes investors ' money to high risks. The introduction of KYC is a huge step that will increase confidence in new projects and give an additional guarantee for investors who doubted to invest their funds.

[krassy]

Now the KYC procedure gives projects a chance to avoid responsibility to the citizens of those countries where it is prohibited to conduct ICO, but before all other ICO participants this procedure is practically useless, because no one guarantees us the safety of our personal data. And we have the right to demand guarantees of security of our data from the founders of the projects.

[Lewan]

Of course it's a good idea. Because KYC verification is a number to prevent fake IDs and multiple accounts. In this way, people can not benefit from unjustified earnings resources are opened.

[furball64]

Each country has its own laws on this subject. This means that KYC is not a prerequisite for all projects. Each project should take the conditions of the legislation in the countries of its investors and in accordance with this should build its own policy regarding the KYC.

I would not want my personal data to be off someone from outsiders. Have you seen at least one project developer who has published his personal data?

[Felic43]

Releasing someone personal detail is dangerous is very bad when icos said we should do kyc they should have the alternative ways to verify the participant

[Moeda]

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 this is a good idea, because we don't know about the ICO developer. But the moderator of the BTT forum knows almost all ICO developers, because moderators are available for all countries. Each country has a local moderator, this can help prevent scams from occurring in each ICO.

[Milka86]

I am completely against this procedure in cryptocurrency, especially for bounty hunters . I don't want anyone to know who to disclose their data, it scares me . After all, I can not know in what hands they fall.

[Kristina3456]

I think this is a good idea, but only for investors, and if the amount is too large. I understand that this is a way to prevent money laundering. But I am absolutely against this procedure for the participants of the bounty companies, in it I do not see any sense at all

[letyouearn]

KYC and crypto. That's simply hilarious Where is that famous anonymity and privacy everybody was talking about all the time? I thought this was one of the main ideas for a long time. Privacy is dead now

[rodolfolucas160]

just some ICO now good on some rated site

[prtty2gal2]

I think KYC has both advantages and disadvantages. For hunters, KYC is an extra step, isn't it? But for the project, KYC can effectively prevent the emergence of fraudsters!

KYC plainly has an advantage on the regulation aspect as the essence is for Anti Money laundering. KYC is not bad at all, and I have never had any problem with it, the only problem anyone can have is to end up dropping their KYC to scammers who could sell them and at the end of the day still lose their money.

As long as you do your own due diligence, you know it is a project worth investing in and you are so certain of the growth potentials in the long run while taking advantage of the ICO bonuses, I really do not see anything wrong with having to do KYC in such cases.

[PizzaBTC]

Here, of course, a double opinion about KYC. On the one hand, this is good for the project from the point of view of legislation, on the other hand, not every person wants his personal confidential information to be used somewhere. I am more against KYC than for him

It actually depends on the project and yourself as an individual. These days as a result of some regulatory policies, so many projects are required to conduct KYC, what is important is to try and make sure that the project you are investing in is legit and you have nothing to worry about your data being sold to the black market.

Yeah, we have heard of some cases before in which KYCs were collected and sold on the dark market. For the most part, if you are not comfortable with KYC, just wait for them to get listed on an exchange and if it is a project you believe in its long term growth, then go for it.

[shadowdio]

ICO's that needs KYC for investors hmm.. I'm okay with that, but KYC for bounty hunters it is not good idea, I don't know why they need that for bounty hunters, I don't want to join bounty campaign that needs KYC.