KYC for ICO, is it good or bad idea?

[Ravenangel]

I think it's a good idea, because in this market there are too many scams, in the end, what we need are investors, not scammers, so it's good that we put different measures to make the market more stable and attractive, because so much instability can be counterproductive if we want to bring new people into this.

[DOH!]

KYC is a form that should be implemented in the ICO investment because it helps limit the manipulation of large investor coin. But choose the project carefully before deciding to implement KYC because your information can be stolen if it is a bad project.

[greennesslatern]

i think it is ok, even through the ICOs can be moved huge amounts of money and knowing there are not moved for illicit purposes is very important

[airdrophunter]

KYC alone is already a bad idea, IMO. Sending your sensitive information to them which might be used against you as your ID contains vital information that would help them hack your account. Rumors has it too that the information you send to them will be sold in the darkweb and they will earn money from your data.

[nityans]

This is a good decision, the idea of mutual verification will serve as a guarantor of serious intentions on the part of projects and such transparent conditions will inspire confidence among investors, which in turn can have a beneficial effect on the development of the project as a whole.

[bitkanu]

I think so many people are using this Know Your Customer thing to get people's information for their own good. To me, before I will do a KYC in your ICO then I know the project Im dealing with.

It is required by the authority, not that the ICO developer is trying to gather all your important data but it exist to prevent money laundering.
Maybe a scam ICO will do such thing but good and real ICO will never do that, however it's not wrong to be so paranoid about this KYC though.

[Question123]

Maybe yes maybe no. But for me better to do not give your personal information here in cryptocurrency because they have possibility that they use it to other. ICO no need to to use KYC because you invest your money and they don't need your information because what ever to happen you will be benefits or sacrifice.

[Kay94]

For now I don really trust ICO's that collects sensitive data like the KYC. Now what some of them do is to sell your data to people for them to use it somewhere. I think KYC is a bad idea now. 

[Astermony]

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.

If it is mandated with what you believe a good ICO then we have no choice but to follow, though it will contradict to the decentralized platform technology but as I've said it is a must.

[adekogbe]

Investors requirements to pass a KYC before they are eligible to receive ICO tokens is a good idea but the execution is flawed because there is no valid publicly accessible database to make cross reference with how legit the information provided in the ID cards or passports.
Also ID cards are very easy to forge in some countries so it defeats the purpose.

[kevinzxz]

in my opinion if for security then KYC is a good idea but for now I have not agreed to ICO using KYC, because ICO is not legal for now so then I think KYC is not very useful for now if we want to invest in ICO.

[ndico]

KYC for ICO is not really a good idea for me but at the moment regulations is making a lot of them to do KYC and I think for ICO to survive they need to comply with the regulations to make it safe for more countries to adopt crypto currency.

[MarchToke]

I don't actually participate in bounty that needs ICO. I am much concern about my private data than that of money (but i don't think an ICO with KYC is not a scam) that i can get from a KYCed ICO. I better be safe than sorry.

[pinoy.bolanon]

Kyc is merely a method in order to determined true identity of investors and participants., I don't see any negative impact in implementing kyc. Nowadays alot of fake accounts are proliferating in the market. So I think it's a good move.

[taguig]

When we are online we should take care and always on watch about our privacy, so it's a big no no for me when it comes to KYC my privacy and my personal information is more important to me than what I'm going to earn from these bounties and from investing from these ICO and besides I can always buy those coin when it hit the market..

[btcrut2017]

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 don't support KYC becs. It can mean giving your personnal information to others. But if this is really needed then i will provide the information as long as i xan earn my hard work.

[ub27]

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 is not really needed in crypto. It breaks the rules that crypto brings so I do not like KYC and I think there are many people who will be like me. However, if you join the ICO then surely we need KYC so we need to consider carefully before joining.

[SaRmY]

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.

Really. It would be better if all members of the team passed the KYC procedure. And then on some projects there are no simple photos of team members. Although scammers this will not stop the data being bought and sold. And what prevents the team from downloading stolen data, and give the project for real. KYC does not guarantee nothing, for this reason I do not see the point in it.

[messito]

I think this is a good idea because in this way dishonest users will not be able to earn more coins than they should be, but you just need to figure out how you can regulate the developers themselves as they become more frequent when they leave with the depositors and give nothing

[Ngewex Yuk]

I think it's a good idea, because in this market there are too many scams, in the end, what we need are investors, not scammers, so it's good that we put different measures to make the market more stable and attractive, because so much instability can be counterproductive if we want to bring new people into this.

I think on the contrary, the application of KYC actually makes investors afraid of investing, they are worried that the data will be sold to third parties, thus making ICOs that implement KYC not favored by big investors.