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[Zurcermozz]

On telegram channel in pin post I seen that KYC verification is paid for 2$. But I didn't understand that if investors are investing in this project then why they are asking to pay for KYC verification?

yeah, i am also confused, i asked that question on their telegram channel but i have not gotten good answer the team should ensure they clarify the public

yeah, im thinking about it, but i confirmed my kyc right there, i think they use the 2$ to automatically buy a token, and use it to confirm that you are now qualified to buy coins. IDK just wild guess.

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[ctrades31]

On telegram channel in pin post I seen that KYC verification is paid for 2$. But I didn't understand that if investors are investing in this project then why they are asking to pay for KYC verification?

yeah, i am also confused, i asked that question on their telegram channel but i have not gotten good answer the team should ensure they clarify the public

yeah, im thinking about it, but i confirmed my kyc right there, i think they use the 2$ to automatically buy a token, and use it to confirm that you are now qualified to buy coins. IDK just wild guess.

Might be possible. For KYC 2$ amount have to be pay separately or while investing they will deduct from invested amount?

[pinoycash]

On telegram channel in pin post I seen that KYC verification is paid for 2$. But I didn't understand that if investors are investing in this project then why they are asking to pay for KYC verification?

yeah, i am also confused, i asked that question on their telegram channel but i have not gotten good answer the team should ensure they clarify the public

yeah, im thinking about it, but i confirmed my kyc right there, i think they use the 2$ to automatically buy a token, and use it to confirm that you are now qualified to buy coins. IDK just wild guess.

Why do you need to undergo KYC in the first place? if your not buying their tokens in their ICO then KYC is not required, For investors point of view, i will probably wont touch any project that is asking for payment to complete my KYC. Imagine if 10,000 people play in this project that would be an easy 20k USD for the team

[Zurcermozz]

On telegram channel in pin post I seen that KYC verification is paid for 2$. But I didn't understand that if investors are investing in this project then why they are asking to pay for KYC verification?

yeah, i am also confused, i asked that question on their telegram channel but i have not gotten good answer the team should ensure they clarify the public

yeah, im thinking about it, but i confirmed my kyc right there, i think they use the 2$ to automatically buy a token, and use it to confirm that you are now qualified to buy coins. IDK just wild guess.

Why do you need to undergo KYC in the first place? if your not buying their tokens in their ICO then KYC is not required, For investors point of view, i will probably wont touch any project that is asking for payment to complete my KYC. Imagine if 10,000 people play in this project that would be an easy 20k USD for the team

Yeah, i see your point, i still dont know why they need us to pay 2$ in KYC, so i think they are also using this so they can fund the money hmm, it doesn't makes sense after all.

[akoolyon]

On telegram channel in pin post I seen that KYC verification is paid for 2$. But I didn't understand that if investors are investing in this project then why they are asking to pay for KYC verification?

yeah, i am also confused, i asked that question on their telegram channel but i have not gotten good answer the team should ensure they clarify the public

yeah, im thinking about it, but i confirmed my kyc right there, i think they use the 2$ to automatically buy a token, and use it to confirm that you are now qualified to buy coins. IDK just wild guess.

Why do you need to undergo KYC in the first place? if your not buying their tokens in their ICO then KYC is not required, For investors point of view, i will probably wont touch any project that is asking for payment to complete my KYC. Imagine if 10,000 people play in this project that would be an easy 20k USD for the team

Yeah, i see your point, i still dont know why they need us to pay 2$ in KYC, so i think they are also using this so they can fund the money hmm, it doesn't makes sense after all.

From their FAQ Medium post, I take it that they are using it to minimize their costs and filter out people that are not serious about investing. From Your example above, the other side of the coin, they could have a $20k USD and no real investors.

https://medium.com/@MinedBlock/frequently-asked-questions-94f4e830af31

[nira09]

From their FAQ Medium post, I take it that they are using it to minimize their costs and filter out people that are not serious about investing. From Your example above, the other side of the coin, they could have a $20k USD and no real investors.

https://medium.com/@MinedBlock/frequently-asked-questions-94f4e830af31

thank you for providing a useful link, so this is their reason why invetor has to pay $ 2 for KYC:

Why is there a charge for KYC and Accreditation Checks?
We made a decision at the start of this project to minimise all unnecessary costs to help improve the Return on Investment we can offer our token holders. This includes not paying for KYC checks for investors who are unlikely to buy tokens. The $2 KYC charge just covers the cost of the check and will be reimbursed with MBTX at a discounted rate.

this would be beneficial for the project, but not friendly to investors, this is just my opinion. besides that I personally have some bad experiences with mining projects, I hope this project is different from some of the previous mining projects

[MinedBlock_Paul]

Hello everyone,

Let's talk about this KYC, As a Security token offering we are operating our crowdfunding through worldwide financial regulations. The very basics of this is to combat Anti-money laundering. To achieve this our investors will need to undergo KYC to prove their identity, and depending on jurisdiction further assessment will be required, to then be approved and placed on our whitelist.

I can assure you that it's not a financial raise, the $2 charge, but is simply the cost, per application, from our partners Sum & Substance.

[ganeshramk]

Why do you need to undergo KYC in the first place? if your not buying their tokens in their ICO then KYC is not required, For investors point of view, i will probably wont touch any project that is asking for payment to complete my KYC. Imagine if 10,000 people play in this project that would be an easy 20k USD for the team

If they have to do KYC verification process, it wont come for free. They have to pay for this service or for the person who does this verification.

[chan001]

Why do you need to undergo KYC in the first place? if your not buying their tokens in their ICO then KYC is not required, For investors point of view, i will probably wont touch any project that is asking for payment to complete my KYC. Imagine if 10,000 people play in this project that would be an easy 20k USD for the team

If they have to do KYC verification process, it wont come for free. They have to pay for this service or for the person who does this verification.

Agree.  KYC does cost money for every project.  And whatever money project will be receiving will be used for project development. If they start spending money on KYC then it will affect project work as well.

[Anilbg]

Hello everyone,

Let's talk about this KYC, As a Security token offering we are operating our crowdfunding through worldwide financial regulations. The very basics of this is to combat Anti-money laundering. To achieve this our investors will need to undergo KYC to prove their identity, and depending on jurisdiction further assessment will be required, to then be approved and placed on our whitelist.

I can assure you that it's not a financial raise, the $2 charge, but is simply the cost, per application, from our partners Sum & Substance.

This is good explanation. Now people will know why they asked to pay 2 USD for KYC. And I think people who are not even ready to spend 2 USD for KYC, may not be interested in buying tokens.

[Zurcermozz]

Why do you need to undergo KYC in the first place? if your not buying their tokens in their ICO then KYC is not required, For investors point of view, i will probably wont touch any project that is asking for payment to complete my KYC. Imagine if 10,000 people play in this project that would be an easy 20k USD for the team

If they have to do KYC verification process, it wont come for free. They have to pay for this service or for the person who does this verification.

ohh i see, at first i never know what is the reason why they need us to pay 2$. Thanks mate for explaining it further.

[MinedBlock_Paul]

The latest version of our Whitepaper has just been published https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf

[pinoycash]

From their FAQ Medium post, I take it that they are using it to minimize their costs and filter out people that are not serious about investing. From Your example above, the other side of the coin, they could have a $20k USD and no real investors.

https://medium.com/@MinedBlock/frequently-asked-questions-94f4e830af31

thank you for providing a useful link, so this is their reason why invetor has to pay $ 2 for KYC:

Why is there a charge for KYC and Accreditation Checks?
We made a decision at the start of this project to minimise all unnecessary costs to help improve the Return on Investment we can offer our token holders. This includes not paying for KYC checks for investors who are unlikely to buy tokens. The $2 KYC charge just covers the cost of the check and will be reimbursed with MBTX at a discounted rate.

this would be beneficial for the project, but not friendly to investors, this is just my opinion. besides that I personally have some bad experiences with mining projects, I hope this project is different from some of the previous mining projects

How many mining projects failed miserably last 2018, Some cancelled their ICO and never refunded their investors.

The $2 fees will be frowned upon by all possible investors and they will turn off by this method. The best thing is to ask KYC for all those users that already bought the token.

[MinedBlock_Paul]

Hello everyone,

Let's talk about this KYC, As a Security token offering we are operating our crowdfunding through worldwide financial regulations. The very basics of this is to combat Anti-money laundering. To achieve this our investors will need to undergo KYC to prove their identity, and depending on jurisdiction further assessment will be required, to then be approved and placed on our whitelist.

I can assure you that it's not a financial raise, the $2 charge, but is simply the cost, per application, from our partners Sum & Substance.

How many mining projects failed miserably last 2018, Some cancelled their ICO and never refunded their investors.

The $2 fees will be frowned upon by all possible investors and they will turn off by this method. The best thing is to ask KYC for all those users that already bought the token.

Unfortunately this method isn't possible. It's impossible to purchase tokens before the whitelisting process has been completed. I could understand it to be "off-putting" to investors if the charge was excessive but $2 is dismissible when vesting into MinedBlock

[Anilbg]

Hello everyone,

Let's talk about this KYC, As a Security token offering we are operating our crowdfunding through worldwide financial regulations. The very basics of this is to combat Anti-money laundering. To achieve this our investors will need to undergo KYC to prove their identity, and depending on jurisdiction further assessment will be required, to then be approved and placed on our whitelist.

I can assure you that it's not a financial raise, the $2 charge, but is simply the cost, per application, from our partners Sum & Substance.

How many mining projects failed miserably last 2018, Some cancelled their ICO and never refunded their investors.

The $2 fees will be frowned upon by all possible investors and they will turn off by this method. The best thing is to ask KYC for all those users that already bought the token.

Unfortunately this method isn't possible. It's impossible to purchase tokens before the whitelisting process has been completed. I could understand it to be "off-putting" to investors if the charge was excessive but $2 is dismissible when vesting into MinedBlock

KYC is mandatory and it should be followed with proper procedures. Many project struggled once they tried to do KYC after token was sold.

[pinoycash]

Hello everyone,

Let's talk about this KYC, As a Security token offering we are operating our crowdfunding through worldwide financial regulations. The very basics of this is to combat Anti-money laundering. To achieve this our investors will need to undergo KYC to prove their identity, and depending on jurisdiction further assessment will be required, to then be approved and placed on our whitelist.

I can assure you that it's not a financial raise, the $2 charge, but is simply the cost, per application, from our partners Sum & Substance.

How many mining projects failed miserably last 2018, Some cancelled their ICO and never refunded their investors.

The $2 fees will be frowned upon by all possible investors and they will turn off by this method. The best thing is to ask KYC for all those users that already bought the token.

Unfortunately this method isn't possible. It's impossible to purchase tokens before the whitelisting process has been completed. I could understand it to be "off-putting" to investors if the charge was excessive but $2 is dismissible when vesting into MinedBlock

Yes $2 is nothing for investors. But this is the first time i saw a project asking for $2 to complete a KYC procedure and im sure other people are thinking the same thing. Its like we are giving you our identity freely and we still need to pay $2 for sharing our personal information its a lose lose situation.

[MinedBlock_Paul]

Yes $2 is nothing for investors. But this is the first time i saw a project asking for $2 to complete a KYC procedure and im sure other people are thinking the same thing. Its like we are giving you our identity freely and we still need to pay $2 for sharing our personal information its a lose lose situation.

An investor would be vested in the participation of MinedBlock's investment vehicle. Remember the reasoning behind an STO is to offer the investor more security within their investment. The $2 is reimbursed with it's equivalent tokens. So if the $2 represents a loss to you than reduce your investment by $2.


I'm sorry but we can't see any negatives to our strategy. Our project is entirely dependant on creating the vastest revenue which entails reducing costs. This is what we would negate as an unnecessary cost. We make no profit from this at all.

[MinedBlock_Paul]

If the KYC does pose a barrier, We have just made MBTU available to buy PRE-IEO through your dashboard @ https://www.minedblock.io with a 25% BONUS

[gee777]

If the KYC does pose a barrier, We have just made MBTU available to buy PRE-IEO through your dashboard @ https://www.minedblock.io with a 25% BONUS

I am still battling with the kyc, I tried doing it but it was rejected that my documents were not clear enough even though it was clear to my standard.

[MinedBlock]