KYC should be for big whales

[Madmax101]

Crypto whales are present even in places where cryptocurrency is prohibited, platforms ask for kyc just to exclude those coming from crypto banned areas so as to avoid any litigations. Also I believe for a few box of crypto like less than $500, kyc shouldn't be required. Kyc is also another way of tracking crypto whales moving funds from one wallet to another it is good for suspicious accounts for easy tracking.

[1714855972]

1714855972

[1714855972]

1714855972

[1714855972]

1714855972

[Coffeehot]

in fact, i hate KYC. But i don't agree with you. KYC can prevent bounty and airdrops from being abused on a large scale. if there is no KYC. One person can create hundreds or thousands of accounts

[JeffBrad12]

Man, KYC doesn't solve most of problems. Recently one of my friends tried to withdraw 100 btc from binance and you know what happened next?
His account was blocked and he was asked to provide source of funds! What is more his tiket was stopped then after all proofs, and support doesn't respond him!

If that was true and you can try to suggest him to do a lot of complaints through its telegram group. I have seen a lot of people are putting their problems on there too.
KYC doesn't mean a lot. The exchange site will control anything since it's a centralized system. Just try to tell your friend about that. KYC is useless.

[MikeyVeez]

Big whales are not only one person, but companies, funds. So tell me, how would you do that? And also there is another problem, they are tading Over-the-counter because many exchanges have trading limits for these big whales  .

[coin-investor]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

Every bounty hunters will agree to that, only whales should go through that, they have the full control of the supply and they can manipulate the trading anytime in the market, bounty hunters are just here to promote, and the supply they've got is very small it will not harm the market.

[lavoncoin88]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

You have a point it should be for big investors. I can compare this to the airdrop, thats a little earning there but some need kyc. We should remember that KYC is a identifacation info and you just give that in a small earning work. It considerable in bounties but airdrop is not reccomendable.

[Msworld83]

I think you are correct about the set limit for kyc not just everyone that require kyc , there should be a limit like $10k above or even $5000 for kyc and those with little funds are one for non kyc cause I see this as a way to steal people datas as many sell those details on dark web , so am not supporting any thing that has to do with kyc and if there should be then it should be that limit of $5k above as $100 or even $1000 can't be a money laundering.

[Ranly123]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

The point of kyc is not on how much you invest on a certain ICO but for legal purposes. Some ICO ask for KYC to prevent US citizens from investing on their platform so in other words, KYC act as security for the legality of their project.

[adzino]

And what exactly is the reason they should be forced to fill the KYC forms? You never mentioned it. And the bounty programs and ICOs don't just impose the KYC thing for no reason. A legitimate ICO does it so that people does not abuse their programs or giveaways or airdrops by creating multiple accounts to claim those rewards. Its not totally useless.

[itos]

KYC should only be for investors and not for bounty, they reason KYC for bounty avoids multi accounts but actually only delays distribution for bounty

[carbal1987]

I was passing KYC only in 3 projects and now I am constantly being called by one mobile number and offering a trading platform

[xianbits]

I don't know how it is so important for big investors to have KYC than any other people related to a project. I must say, I don't disagree with KYC but it ahould be for everyone, even for the team members (for transparency to the community)

[mickey_miner]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

I agree with you, but for bounty hunters KYC procedure will not be canceled, because the developers know that people will send documents to get their reward.

[PattersonRaquel]

You want to invest in a few ico. The first thing you need to do is pass identity verification. The exchange platform does not force traders to verify their identity, so what you provide is unreasonable. You are forcing people to verify their identity even though they do not want to do it on exchange

[Milamol]

It would be much better if KYC was required for a new project team. The scam at the ICO stage seems more significant than the manipulation on the exchanges.

[NynaHoney]

indeed there are many rejection related to KYC for bounty and airdrop, basically KYC has a good purpose,
but indeed in KYC there is a lack of guarantees regarding the security of the data provided
I feel it is not feasible if an airdrop uses KYC because as we know the current airdrop results are very low
For big whales, KYC must be applied to them, but for bounty hunters, KYC should not be use

[bitcoin31]

I think airdrop and bounty KYc requirements is reasonable but in the investor of the ICO is not. Loike what possible to hapoened in the KYC if they submitted their information and the ICO is scam they have possiblity those scammer use the identity of the investor which is very wrong and unfair.

[a4illusionist]

KYC should never had been introduce in the crypto industry. Its actually against the whole theme of cryptocurrency that is supposed to provide anonymity but what KYC do is totally against it.

[Catmurs]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

I think now in almost any project there is a kyc for all participants of the bad bounty or an investor in the ico , but I would also do a check of the project it would be very good to help fight against fraud

[Enzo05]

Hmm ... seems like you do not have yet idea with ICO's . Most projects required KYC for big investors so they can control the holders of their token . It's already implemented and already happening .