Topic: A new look to KYC, from a customer's perspective. - page 8. (Read 1389 times)
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Account Verification I think that it is necessary, first of all, for the founders of the company, from investors or bounty hunters, I think it is enough to confirm the phone and the mail
I had this idea a year ago. But crypto is a special environment. There are many projects without identification of both users and creators of the project. The problem is that they can find a way around this, because everything is voluntary here.
You are very much correct and I agree totally with you on this, I don't see any reason why we the investors in this ICO projects have to carry out KYC before we can have access to my coin.
What is the KYC used for? Because the last time I checked, I actually used crypto to make purchase of the token and not fiat, I think the KYC should be for the owners of the project so that we know they are not there to scam us, not for us the investors becase we always end up becoming the victim.
What is the KYC used for? Because the last time I checked, I actually used crypto to make purchase of the token and not fiat, I think the KYC should be for the owners of the project so that we know they are not there to scam us, not for us the investors becase we always end up becoming the victim.
I accept to pass the KYC process only when the team members of the project are verified. If I can assure that the project is legit and won't steal my funds, I do not have any problems by passing the full KYC procedure.
KYC should be done in good projects and we don't need to worry too much about this information because they always have the best customer security policy. I believe that only fraudulent projects have signs of selling customer information and this really affects us personally. I hope in the future many companies will provide 3rd party KYC services so people can be more secure in selecting projects. 
This is an interesting idea, but I think it is difficult to implement it. I mean that such a decision can have many pitfalls.
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Some project may avoid dealing with the law prohibiting ICO / STO in some countries such as US, China. So it seems normal that they require investors to do KYC. But right now there are many projects that are not convincing or maybe fake making us hesitate to do KYC.With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
~snip
This is indeed necessary and thank you for sharing this method, Although it's still not enough, at least it can spot the fake ico or etc.~snip
Any ideas?
Currently there are many trusted KYC service providers such as Civic, Jumio or Sum & Substance. If the project integrates it, I think it's safe, the rest just need to do more research like seeing the team background as you saidtrusted site of icobench.com
This is wrong, have you not learned from the experience of several previous projects such as Hashcard? Some Experts who are there now are only experts who are paid even though some of them still have a passion for reviewing. So the review cannot be used as a consideration.Investing in token sales is almost the same as gambling, sometimes you are lucky or not.
KYC is more shits rather than waiting for your bounty coin to be listed to an exchange. Just don't invest on any KYC ICO platform.
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
Knowing who is the real CEO of the project should be useful for the future of the project that we invest on or join into the bounty, so there will be a guaranty even if the project isn't successful at least every investors could get all their money back. With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
As it seems to me, binance carefully checks both the team and the viability of the whole project before displaying it on binance launchpad. I think the ICO taking place on the platforms owned by the exchanges will be the trend of this year. Customers trust binance, because if i happens "misfire" exchange risks losing part of its reputation.
That is what is happening now. It is true that the Binance launchpad is one place where people want to invest in the ICO. Of course it is not arbitrary projects that can be included in the Binance launchpad. If the team from the project is not trusted, of course Binance will lose his reputation. 
KYC process is one of the issues that always makes me feel doubtful to fulfill it.
It is not about who I am and their trust to get who I am, it is not about decreasing the multi accounts or citizen from forbidden countries to invest.
I personally come from a country that is always allowed to join in any case of ICO project, both as investors or even bounty hunters.
however, feeling doubtful is always there when should send my identity to someone over there that I really don't know who they are, trusted or not. It is such worries for me.
In fact, I never find out the teams of a project that also shows us their identity, real identity to ensure us that they are not scammers. They only put social media or other links.
well, so blunder at all until right now for me.
It is not about who I am and their trust to get who I am, it is not about decreasing the multi accounts or citizen from forbidden countries to invest.
I personally come from a country that is always allowed to join in any case of ICO project, both as investors or even bounty hunters.
however, feeling doubtful is always there when should send my identity to someone over there that I really don't know who they are, trusted or not. It is such worries for me.
In fact, I never find out the teams of a project that also shows us their identity, real identity to ensure us that they are not scammers. They only put social media or other links.
well, so blunder at all until right now for me.
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
I heard some peoples suggesting you must KYD (Know Your Developers) before you start to participating in every ICO.
This is no other than a part of due diligence that should be required to avoid scam or fraud projects.
I am agree with you, from our point of view as investors or supporters, we should know who are the peoples behind it first.
I accept to pass the KYC process only when the team members of the project are verified. If I can assure that the project is legit and won't steal my funds, I do not have any problems by passing the full KYC procedure.
Anonymity is one of the reasons why we choose crypto and you can be scammed with such thoughts. What if the project is scam, and steals all of your data? As it seems to me, binance carefully checks both the team and the viability of the whole project before displaying it on binance launchpad. I think the ICO taking place on the platforms owned by the exchanges will be the trend of this year. Customers trust binance, because if i happens "misfire" exchange risks losing part of its reputation.
Binance has been able to reach the current position because of the careful work.
As it seems to me, binance carefully checks both the team and the viability of the whole project before displaying it on binance launchpad. I think the ICO taking place on the platforms owned by the exchanges will be the trend of this year. Customers trust binance, because if i happens "misfire" exchange risks losing part of its reputation.
You are wrong. First of all, anyone can be biased because you know money can always talk. So, it will a bad idea to create a team of trusted members. If those trusted member can't ensure you the safety, what will happen? I think IEO is all way better than anything related fund raising for now.
What if they got paid, perhaps with the cryptocurrency itself. I just don't see why can't we just ALL or.. most of the investors see it clean and transparent as it is and it goes same for politicians, when you have in your hands the future of something people might believe in be it a country or a currency or a person AND your position tends to be seeken by unwanted activists then atleast for a while you should accept a leak in privacy unless you can give proof upfront, like code itself.I accept to pass the KYC process only when the team members of the project are verified. If I can assure that the project is legit and won't steal my funds, I do not have any problems by passing the full KYC procedure.
They can be hard to distinguish if you don't look well, some are pretty easy to spot indeed and then you got a real shame of graphic designing wasted in some.I'm saying nothing about KYC from the user sender side
Also, identification and verification can be faked on many sites, thats why in 2nd post if I'm not wrong I were mentioning for more drastical measures I dislike a bit. That's why I think joint cooperation between the community members would be crucial to prevent.
I accept to pass the KYC process only when the team members of the project are verified. If I can assure that the project is legit and won't steal my funds, I do not have any problems by passing the full KYC procedure.
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You are wrong. First of all, anyone can be biased because you know money can always talk. So, it will a bad idea to create a team of trusted members. If those trusted member can't ensure you the safety, what will happen? I think IEO is all way better than anything related fund raising for now.
I think there is a need of an intermediary. A trusted intermediary which should receive the KYC of the applicants on the behalf of companies, verifies them and send the results to concerned company. I think there are already few websites providing this service but adopting them as intermediary is not a common practice among companies.
Such intermediary should work two-way, verifying applicants KYC one way and verifying the genuineness of company the other way. Everyone will be in win-win situation.
We used to have escrow that hold funds for projects but I only participated in a couple of them. Such intermediary should work two-way, verifying applicants KYC one way and verifying the genuineness of company the other way. Everyone will be in win-win situation.
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
What's interesting is that projects that promise to create a decentralized platform are in demand for KYC. They're breaking down their own rules when they're at the beginning yet.
Sometimes parteneriates request such thing and is the way to take if you want to develop a legit business.
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
KYC/AML is really needed especially if you are starting a company that offers innovation and if you want to improve your services and if you want to have a solid statics and data system. You said that you need to know the CEO of the company before letting them know your personal information but it's not the thing you have to base. You have to know the whole team and what they really do. If you really wanted to try to invest with them then you have to try your best to reach them and talk with them verbally.OP, please check this the remediation of having KYC/AML. : https://complyadvantage.com/knowledgebase/kyc/kyc-remediation/
What I mean is the same but from the perspective of the community to prevent and be able to recognize and localize the subject in case of scam.
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
KYC/AML is really needed especially if you are starting a company that offers innovation and if you want to improve your services and if you want to have a solid statics and data system. You said that you need to know the CEO of the company before letting them know your personal information but it's not the thing you have to base. You have to know the whole team and what they really do. If you really wanted to try to invest with them then you have to try your best to reach them and talk with them verbally.OP, please check this the remediation of having KYC/AML. : https://complyadvantage.com/knowledgebase/kyc/kyc-remediation/
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
What's interesting is that projects that promise to create a decentralized platform are in demand for KYC. They're breaking down their own rules when they're at the beginning yet.
This idea is a sophisticated one and I'm in support of this move. The members of the team are supposed to be known to investors even before the commencement of the ICO sale. They need not to hide themselves from their investors as investors are shareholders on the project as well.
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