Topic: Avoiding the KYC procedure - page 2. (Read 495 times)
I think KYC is really a disadvantage to ICO investors that's why many were against it but could not avoid (KYC) if they want to continue to participate in an ICO. Even bounty hunters are required to do KYC.
many companies today are clever by requiring every investor to do KYC first with security reasons or so. it is very difficult to say that KYC is needed when we want to invest with ICO because nowadays there are so many scam ICOs that the vulnerability of our personal data is used for criminal access.
maybe the main solution is to choose a really good ICO by doing a research that will make you comfortable doing the KYC procedure.
maybe the main solution is to choose a really good ICO by doing a research that will make you comfortable doing the KYC procedure.
The risk is much bigger here because you are sharing your personal details that can be use in malicious thing in the future. Don't fill out this form if you don't study the project because your money is in risk.
KYC should be done when your investment in ico of a particular project involves large amounts of money. I don't see any good reason why even airdrop (free token) will ask for kyc.
Most of those airdrops is scam so be careful on joining and giving your information or you will suffer later on.
KYC should be done when your investment in ico of a particular project involves large amounts of money. I don't see any good reason why even airdrop (free token) will ask for kyc.
Avoiding it will be much better for your own security,you dont want to see your IDs being used with someone else's name.These people shouldnt be trusted that is why you need to be careful with your personal informations because our community has full of scammers and you shouldnt be giving away your identity for the sake of the tokens,
many companies today are clever by requiring every investor to do KYC first with security reasons or so. it is very difficult to say that KYC is needed when we want to invest with ICO because nowadays there are so many scam ICOs that the vulnerability of our personal data is used for criminal access.
maybe the main solution is to choose a really good ICO by doing a research that will make you comfortable doing the KYC procedure.
maybe the main solution is to choose a really good ICO by doing a research that will make you comfortable doing the KYC procedure.
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)?
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
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.
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)?
We don't know about the reputable of the dark pool. It's just like you are using 3rd party service to join in the ico through use the identity that has already provided by the dark pool. it seems more risky compared with join in the ico directly by use our own identification to pass kyc. But if it can be trusted and have very good credibility and why not?
Almost all of the ICOs that I participated didn't ask me to provide any personal data and that really made the process of acquiring the coin/token very easy. Others may disagree with me but I tend to stay from ICOs that ask for any data that may point to my true identity. It is very inconvenient for me and I just don't want to share any details of myself to any company related to cryptocurrency. Anonymity is one of the main points why I got hooked to cryptosphere and I will stick to it as long as time permits.
I think that everything here depends on the amount of investment and on the reliability of the company. If this is a large-scale project and it is possible to invest only large sums of money there, then I think that the KYC should be present. And if this is a small ICO that collects small amounts of money, then I think that in this case, the KYC procedure is superfluous.
it is going to be better not to participate any as it is going to put your identity at risk,never let anyone get your personal information cause it might be use to something else that you will regret in the futurem,you should be more careful as these people wont give their own profiles if anything happens to your IDs they wont be responsible.
I think the reason for KYC procedures have been basterdized. It's now a tool for scammers to collect peoples data and sell or for phishing purposes. There are few real ones though. Just do you research before submitting your personal data
A Know your Costumer procedure for me was always something suspicious, for what purpose they want my documents from me...so I`m realy careful with this.
Dodging KYCs is something that has been a real challenge for investors, why? Because not everyone is open to disclosing their private information to total strangers just like that.
The pool route however is a very risky one, as the anonymity promoted by the blockchain means the risk of someone running off with your money is higher.
The pool route however is a very risky one, as the anonymity promoted by the blockchain means the risk of someone running off with your money is higher.
I don't mind KYC's if they're using a reputable company. Just signed up for Algebraix's public sale and they're using Coinlist, which is pretty reputable. https://algebraix.io/
I think that for people who invest 100-1000 $ this procedure is not dangerous, but if your investment in ico is 10k + $ then then you want to feel security for storing passport data and be sure that they do not sold intruders
Anonymity is your safety
Anonymity is your safety
If I need to buy an ico I use KYC approved person/ a friend to buy tokens together. Staying anonimity is not a crime, but I have not sent any KYC docs for ico projects yet. I'm afraid about privacy hackers (Who can remember the last hacking attack that stole KYC docs from an ico project by hackers? I heard some rumors that those docs have sold in dark web.
One think of a concern to me is the abuse of these data these ICOs are collecting for their token sale, I don't think anyone investing less than $2k should go through any KYC. I have observed a high number of phishing mail since I started investing into these KYC ICOs which is a concern because some of these website were been hackeda dn these information going to wrong hands is dangerous
If they asked us to have kyc verifications why wouldnt they do their own KYC so that people woll know who really they are,that would be much better so that there will be less scam ICOs in our community as we all know that most of the new projects are scams,and shouldnt be trusted those projects as they are created just to raise funds and eventually runaway.
If the ICO project team requires investors to pass a KYC test, it does not mean that the team is serious and not scammers. Scammers are even more interested in conducting such a check, because they not only can later hide with investors' money, but also sell their personal data and copies of documents on the Internet. There is a paradoxical situation: the ICO team takes money from investors, requires identification data from them, copies of passports, and do not produce their own documents.
I am more involved in ICO projects as a participant in the signature campaign and if I see that they require to undergo an examination of KYC in the conditions of joining the ICO campaign or do not exclude the possibility of holding it in the future, I basically leave this project, no matter how promising it might seem .
I am more involved in ICO projects as a participant in the signature campaign and if I see that they require to undergo an examination of KYC in the conditions of joining the ICO campaign or do not exclude the possibility of holding it in the future, I basically leave this project, no matter how promising it might seem .
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