KYC for ICO, is it good or bad idea?

[fvb]

In this procedure, there are pros and cons.  Personally, I don't like her.  Recently went through KYC to get tokens.  Let's look at the result.

[fbastage]

awful idea, as I didn`t pass even one KYC by myself and won`t do it. Why should we pass it?
Even for exchanges this is an awful idea (if it is not connected fiat)

This is one of the requirements of regulatory authorities and for the most part it is introduced in order to protect you, investors. Once you have identified yourself, these investments are recorded for you and you have the right to sue the company if something happens.

[Zhenka]

In this procedure, there are pros and cons.  Personally, I don't like her.  Recently went through KYC to get tokens.  Let's look at the result.

I see only disadvantages here because I don’t understand why developers need to know the investors' personal data. Their task is to engage in the development of their project. And how can my data help with this? Only my money can help.

[Pikachu12]

It was a terrible idea. Because there have been so many allegations that our information management project owners have sold all of it to others for profit. It was so bad and I was very upset about it. Hopefully this rule will be broken, KYC will no longer in the future.

[cryptomine99]

I think KYC for ICO doesn't matter as long as all of our information is well managed. but I'm worried if later the project is a scam, our data could be used for criminal acts.

[Xclusive5]

KYC verification is actually a good idea but I believe some documents required for KYC should be minimize in order to respect the privacy of investors. For instance I feel uncomfortable when I submit my bank account statement for KYC verification because I see bank statement as something confidential.

[Sawadekub]

I think this is a good idea. This will filter out part of the fraudulent projects presented on this forum (and not only).
Regarding the process of the KYC in general, I don’t mind, the main thing is that the obtained personal information about investors and clients is well guarded and there are no leaks. And the organization that takes responsibility for collecting and storing data should also be fully responsible for data leakage.
Unfortunately, no one wants to be responsible, and there are no corresponding regulators.

[Bay_Harbour_Butcher]

I think KYC is a good idea for ICOs and bounties, especially for bounty campaigns, because it helps to avoid cheating like multi account spam, this is of course very detrimental to other bounty hunters, and therefore KYC is a good idea

[MAXE]

Pretty good idea. It helps to protect your assets, as well as the project itself feels calm if the SEC decides to descend with a check.

[seyola89]

It is a very good idea if KYC for sellers is more prioritized than for buyers because sellers are requesting for significant amount of money which are gotten from the hard earned money of the buyers in exchange for their tokens not yet sure of success.

[Sanugarid]

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.

It really is a good idea although it consumes time but it do not matter that much in my opinion. Also, it will not allow multiple accounts in bounties given that it is prohibited and such way would promote fairness to all bounty participants. Those people who are against KYC might be  doing some things which are not in rules. So personally i don't have any problem with that.

[kaseygriffin]

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 required to remove the cheater . Although there is a risk that the project will sell your information to third parties. But in the face of the increasingly evolving cheater that makes the bounty increasingly boring, KYC is needed.

[jcarlo]

ICOs applying ICOs for their investor because they following government regulation. I think its good because if they follow government regulation, its mean its legit ICOs.

[Ibas samara]

For some honest and good ico projects in marketing I think KYC is very important to know who is participating in ico. But there is also ico which does not display the profile of the actual developer and team and for those like this it is not worth asking for kyc. Maybe KYC aims to reduce the potential for crimes such as money laundering. It needs to be understood that every development has its own rules and policies in marketing.

[Perie200]

There may be many opinions on this question! My opinion is that there is nothing bad in it, I believe that this shows the responsibility of the project. If the project offers to go through KYC, this is not a 99% fraudulent project.

[retnocintaku]

I don't think this is a bad idea for kyc in an ico, as long as the kyc required for the procedure is not too difficult, even if the goal is to maintain security, I don't think there is anything wrong for this kyc

[briana samomingkir]

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.

[NewRanger]

There may be many opinions on this question! My opinion is that there is nothing bad in it, I believe that this shows the responsibility of the project. If the project offers to go through KYC, this is not a 99% fraudulent project.

they just make prevention action if someday they have trouble with regulator from the country they operate.as long as it has clear purpose , personally i am accept it.

[Nisansala]

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.

[itasannah]

KYC is great to apply and they must have a clear purpose. And during this KYC already many applied and I think by having the procedure very well and were able to reduce acts of fraud. And we have to be careful in the use of KYC procedures. We should be able to do some checking before we decide to use KYC.