KYC for ICO, is it good or bad idea?

[mrkavasaki]

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.

Let me give you a question, if you are sure that the project will yield a profit x2 or x5 over the amount you left out, but that your personal information will not be safe. Do you dare to continue investing in that project?

[1714966850]

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[1714966850]

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[Correlll]

I think it is a great idea to protect the investors from scammers. A lot of people are trying to trick the projects team and to buy more than a limited supply per person. But nobody knows, what will happen to our docs if an ICO fails.

[Atang Sulaeman]

the application of KYC to users and sellers is very amenable because it can prevent someone's fraud, and also KYC is very necessary for data on every trading transaction.

[Btc_1856]

In the beginning, i used to scold many ICO's about the NYC but after reading the potential project and compulsory KYC verification will help them to find out the scammers easily. That's why we have to research everything about them before investing.

[cathat]

If you want to protect yourself - you have to pass KYC. Surprised at my answer? I will make an amendment, you need to pass it in a good project, not from scammers.

[boller]

I think it is reasonable when the ICO requires KYC. This will give a good impact because of course, the team will need their customer data to anyone in ICO. and with this system then the KYC is required for clarity of the crypto stream provided. It's when the bounty or even airdrop use this new will is questionable if in my opinion.

[fedben]

Although, the idea of KYC for ICOs isn't really bad as long as the project remains a successful one. But what pisses me off the most is doing a KYC for a dead project. I think KYC is important for investors who also want the success of the project. However, I don't support the idea of KYC for bounty hunters, anyway.

[Papcio77]

For the teams it's good to have ico because they know which country has the biggest number of investor and make changes for the upcoming development, but on the other hand, if we are talking to user it's not good to have it. Privacy is always there and once you send that kind of information,  had a risk

[xiaoY]

This must be a bad thing. KYC will let some investors disappear, they will give up the investment of the project. KYC does not have much effect. In fact, it can be said to be meaningless. Be aware that the quality of the ICO is more important.

[Tahir460pk]

Kyc for ico is it good not a bad idea because in this way you know the investors and can be stop illegal activity and want sure to investing with a proper channel method so kyc is a good idea for investor's for investing.

[cryptoman1ac]

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.

My opinion is that this topic has been posted a hundred times already and should not be posted anymore. You can always use the search engine to look for the topics of this kind and not necessary start the same topic over and over again.

[WalaNaPenisNa]

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 bad because many people in crypto world enters to be anonymous in a way because they arent willing to give their identity for security purposes

[Jateng]

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.

The idea of KYC itself is good but there are people who are using this thing in a bad purposes. The worst is, even scam campaigns requires KYC. So they got our information and we got nothing from them. KYC is worth it, only if we receive a big payment which means its price in the market is also good.