As much as possible I avoid KYC procedures. At least I must recognize the risk, by not carelessly uploading my identity to KYC.
And this is a big problem as well, while we know there are many honest developers out there we also know there are a significant number of scammers creating icos to try to get money and this creates distrust, I do not want that a bunch of scammers not only take my money away but if you send your personal information to them now they can also take your identity or to sell your information in the black market and that is unacceptable to me. 
Topic: Avoiding the KYC procedure (Read 495 times)
Yeah I agree that kyc kill the decentralized feature, crypto supposed to be staying anonymous, and I don't see any usage of submitting my profile to the strangers, no matter how good the project is, I prefer to missed the project rather than submit my kyc which no one guarantee the safety
Well, I think that when a project asks for KYC procedure (especially regarding large investments) - that's good and shows that they're very serious and responsible.
But for people who actually invest (and thus have to pass KYC) - that's another headache - as not many people are willing to share their passports' data, bills info and etc
This is one of those topics that is very difficult, in one hand I will admit that I do not like the idea of KYC at all, but I understand why it is being implemented, however what we need is a KYC for the developers of icos, many projects do not reveal the real identity of those behind the project and if you do not know who they are, then why they are asking that information out of their investors?But for people who actually invest (and thus have to pass KYC) - that's another headache - as not many people are willing to share their passports' data, bills info and etc
so there's really no reason of why you should choose the project with anonymous developer. just leave it and move on, it's not worth the time.
If you keep sending your identification over the internet in a space that is known for scams your going to have your identity stolen. In fact its probably already to late as its now digitized and being stored or worse yet floating around the dark web.
Avoiding the KYC procedure when investing through "dark" pools is for you a plus (provides anonymity and saves time) or a minus (more risks, harm for ICO, illegal status)?
I'm not sure that to trust your funds, to pools, is much safer than trusting photos of your documents to startup projects. In addition, I'll tell you the secret, you can correct your data in the photo editor, a little. Ultimately, the main thing that startups need is to know from what country you are, and your name, surname and age, in order to avoid problems with the law. And I'm even not talking about the fact that you need to choose high-quality projects for investment in order to reduce the risk of data leakage. Although you will not get guaranteed security, here you are right. As well as there is no guarantee that banks or cellular companies do not trade your data, or the hotel at vacation, does not do the same.
Avoiding the KYC procedure when investing through "dark" pools is for you a plus (provides anonymity and saves time) or a minus (more risks, harm for ICO, illegal status)?
why are you afraid to do the kyc process? only criminals are afraid that their identity is revealed, if you are a good citizen, you need not be afraid.Are you serious with this or a shill? What country are you from may I ask. Your comment disturbed me at my very core. If the rest of us think like that god help us all.
Well, I think that when a project asks for KYC procedure (especially regarding large investments) - that's good and shows that they're very serious and responsible.
But for people who actually invest (and thus have to pass KYC) - that's another headache - as not many people are willing to share their passports' data, bills info and etc
This is one of those topics that is very difficult, in one hand I will admit that I do not like the idea of KYC at all, but I understand why it is being implemented, however what we need is a KYC for the developers of icos, many projects do not reveal the real identity of those behind the project and if you do not know who they are, then why they are asking that information out of their investors?But for people who actually invest (and thus have to pass KYC) - that's another headache - as not many people are willing to share their passports' data, bills info and etc
As much as possible I avoid KYC procedures. At least I must recognize the risk, by not carelessly uploading my identity to KYC.
Yes, I try to avoid KYC but it does not always work. there is a choice or go KYC to get rewarded or not to register and lose all the work.
Well, I think that when a project asks for KYC procedure (especially regarding large investments) - that's good and shows that they're very serious and responsible.
But for people who actually invest (and thus have to pass KYC) - that's another headache - as not many people are willing to share their passports' data, bills info and etc
This is one of those topics that is very difficult, in one hand I will admit that I do not like the idea of KYC at all, but I understand why it is being implemented, however what we need is a KYC for the developers of icos, many projects do not reveal the real identity of those behind the project and if you do not know who they are, then why they are asking that information out of their investors? But for people who actually invest (and thus have to pass KYC) - that's another headache - as not many people are willing to share their passports' data, bills info and etc
Avoiding the KYC procedure when investing through "dark" pools is for you a plus (provides anonymity and saves time) or a minus (more risks, harm for ICO, illegal status)?
I think investing in a dark pool will only give you a lot of negative things. because illegal ico has a big risk. so I think with the Kyc can give confidence if ico is followed can be maximal and not ico legal and dangerous. Many bounty hunters did not like bounties with KYC,if scam bounty developer collected your information, they may use the data to destroy you financially, they may even go to the extent of selling your information,one as to be very careful because bounty scams nowadays are almost 80%
As if those exchanges who asked KYC isn't enough. Its worse thing to give away your information to a bounty manager which he can get himself a copy of the file where your information are. It should have been enough that they are restricting US and China from investing and that's it. Its not that those who avoid KYC are criminals but I've seen enough identity thief case over and over where lives are destroyed.
Many bounty hunters did not like bounties with KYC,if scam bounty developer collected your information, they may use the data to destroy you financially, they may even go to the extent of selling your information,one as to be very careful because bounty scams nowadays are almost 80%
Keeping your anonymity doesn't mean that you are a criminal.
We know that there are sites/companies that sell their data to other companies and some people don't want it to happen.
Except this, Crypto doesn't mean only, that the wallet is protected through encryption, but also the owner of the alt is unknown to the public.
You can't avoid KYC procedure, but you can avoid investing in ICOs who demand it and use only decentralized exchanges.
We know that there are sites/companies that sell their data to other companies and some people don't want it to happen.
Except this, Crypto doesn't mean only, that the wallet is protected through encryption, but also the owner of the alt is unknown to the public.
You can't avoid KYC procedure, but you can avoid investing in ICOs who demand it and use only decentralized exchanges.
Avoiding the KYC procedure when investing through "dark" pools is for you a plus (provides anonymity and saves time) or a minus (more risks, harm for ICO, illegal status)?
why are you afraid to do the kyc process? only criminals are afraid that their identity is revealed, if you are a good citizen, you need not be afraid.What about pools which help investors to avoid KYC in ICOs who demand it?
ICOpool Smart Contract allows to avoid kyc procedure, which repels everyone so.
Most of the ICO is now thawing for gifts using the KYC. But for me, it doesn't matter. As long as the gift of gifts that we receive are indeed very much, it is worthy for us to fight.
And as long as the charging requirements KYC is also not too difficult.
And as long as the charging requirements KYC is also not too difficult.
It's sketchy having to give all your info to all these start-ups. I have only done complete KYC process for a few ICOs / airdrops that seem very legitimate.
I have no problem with filling out the KYC process, it's not an obstacle for me KYC is also nice that ICO who has to charge KYC seems to be a safe ICO.
KYC is a compliance requirement for most countries. It is a regulation put in place by Central Banks. This is to avoid Money Laundering and Terrorist Financing. KYC verification is a crucial part of many transactions. I would gladly oblige/ follow the requirement for KYC if needed. However, they will need to provide the clause that they will only use our data / document for verification purposes only. You may email them first before submitting any documents. I work in Compliance for a PayPal btw.
You are forgetting the entire purpose behind why crypto is so popular around the world. Do you even know why people like to dabble with crypto in order to conduct their financial transactions online even though they know that there is huge risk involved due to the extreme volatility of the crypto market? Anonymity is the answer to all these questions. They don't need to depend on banks to conduct their transactions online and most of them avoid paying taxes this way. The KYC process goes against this logic completely which is why I would recommend avoiding it unless it is absolutely necessary.
KYCs are good to make sure it will be made known that you are the real owner of a certain coin and nobody can take it easily from you. And besides money can be used for illegal activities so it would be good to have KYCs. The only problem I see here is that many infomation fell into the wrong hands and identities are stolen. Later you will then know that you have committed a crime and you will be put to jail. How nice and looking stupid can we be if this happens to us. So I don't seem to like it for now.
I only provide KYC on exchanges. Never ever give my personal details to ICO. What is the purpose anyway? The worst thing is even airdrops with less than $10 are asking for KYC as well. Look, why the dev team asking for the personal details if once the token delivered to investors they will not keep it for lifetime. Once the token listed in exchange, anyone can own the token then. What will remain in their database is our peronal data.
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