Exchanges and ICOs | Bitcointalksearch.org

jamids

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Quote from: Xuaquing141 on August 07, 2018, 01:54:13 PM

Some exchanges change their rule by KYC requirement and users who not pass this action can not withdraw the funds. I think it is the necessary way to protect user account and help this exchange suitable with some requirement from some goverment. But if the ICO change their rule, this project is may be make the scam action, the ICO mus follow the roadmap and should not change the rule.

There are also bounties as well that do not inform the bounty participants beforehand if they require it or not to get the tokens and it is disappointing because some just do not want to send their personal information and end up not being compensated for the work they have done. There are many bounties nowadays who are informing though so it would be up to participant if they would be willing to participate in and have KYC or not. Regarding exchanges, I end up submitting my info to Bittrex because there are coins that are only tradeable in their platform so I have no choice.

Hamphser

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Quote from: MadGamer on June 12, 2018, 12:05:42 PM

I'm just here to give everyone an advice. Think twice before you invest in an ICO or use an exchange from now on If you're not willing to do any kind of personal info verification.

Tezos is now asking their users who participated in the ICO to do KYC/AML, failing to do so means that you won't get your coins. It's not their right because they didn't disclose the need of doing any verification when the ICO took place.

Same thing happened with Bittrex and other exchanges where they suddenly decided that they want to ask people to verify their identity and of course, failing to do that will get your funds lost.

For ICO if they didn't asked out first while they are just starting their sale then sudden decision of KYC would really be unfair on investors side specially for those who don't like any further verifications but I do believe that most investors wont really have any choice since they do already put up some funds but still they would decide if they would proceed or not or the money being invested is worth to their own personal informations.
Expect the unexpected because anytime those ico owners or any other services can anytime alter the rules.

Xuaquing141

newbie

Activity: 140

Merit: 0

Some exchanges change their rule by KYC requirement and users who not pass this action can not withdraw the funds. I think it is the necessary way to protect user account and help this exchange suitable with some requirement from some goverment. But if the ICO change their rule, this project is may be make the scam action, the ICO mus follow the roadmap and should not change the rule.

Anhduc2015

newbie

Activity: 84

Merit: 0

KYC seems to be a must in every project, but it does not really work, I often do not get my token.

Truong Thu

newbie

Activity: 182

Merit: 0

KYC problem is difficult. I do not want my personal information lost. But not KYC again did not receive the token, there are a lot of projects I KYC but did not receive his token. I am very disappointed

vanthu12

newbie

Activity: 56

Merit: 0

After joining a number of projects that requested KYC without receiving their token. I realize it does not matter. I do not get anything

Hue Moon

newbie

Activity: 154

Merit: 0

I am not willing to let KYC for any project now. Because despite the kitten I still do not receive my token while I have disclosed personal information to them

omonuyak

sr. member

Activity: 882

Merit: 269

Quote from: MadGamer on June 12, 2018, 12:05:42 PM

I'm just here to give everyone an advice. Think twice before you invest in an ICO or use an exchange from now on If you're not willing to do any kind of personal info verification.

Tezos is now asking their users who participated in the ICO to do KYC/AML, failing to do so means that you won't get your coins. It's not their right because they didn't disclose the need of doing any verification when the ICO took place.

Same thing happened with Bittrex and other exchanges where they suddenly decided that they want to ask people to verify their identity and of course, failing to do that will get your funds lost.

I will said that putting those regulations and verification is very important to cryptocurrencies development and we should support this instead of complaining about those exchanges that makes that as a law. The scamming activities in cryptocurrencies market is too high and regulations is what can stop that.

adzino

copper member

Activity: 2968

Merit: 575

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Most of the exchanges and ICO makes you fill the Know Your Customer forum in order to follow the government regulations. They have to choice but to follow the orders or else stop their business. Look for exchanges which are hosted on countries that are not regulating exchanges. And also make sure you when giving out your information to an ICO, it is an legitimate project, or else they will end up selling your information after scamming you.

tweetbit

full member

Activity: 560

Merit: 112

The same problem here on other exchanges, but not all especially on binance. So that’s why I do consider a local exchange in my country that is freshly made and in beta testing at this time as an alternative. Even with just limited coins and conversion available that’s all good as KYC and identification verification is not necessary. I’m part of the early member and looking forward for a successful one. It is open only in my country.

radokan

member

Activity: 291

Merit: 15

You can avoid all this crap very simple, avoid exchanges and ICO with KYC and use decentralized exchanges and centralized exchanges without KYC.
I am not giving my informations to anyone online, especially for ICO's, if that means I can't participate in any ICO I am fine with that.

MadGamer

legendary

Activity: 1568

Merit: 1031

Quote from: jossiel on June 12, 2018, 02:30:08 PM

Bittrex and other exchanges are companies that needs to comply the regulations on their countries as an operating business, failing to do so will make their business stop/close.

I hope you understand that.

and that's fine, It's their right to continue their businesses but really, not even 24 hours before they make this decision? If they received something from their bank where all their accounts got closed or something, that would've been understandable but it's not the case here.

rani.ahmed48

newbie

Activity: 143

Merit: 0

I think ICO needed KYC why no one committed a crime such as money laundering or corruption by investing in ICO it is usable KYC.

jossiel

hero member

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Quote from: MadGamer on June 12, 2018, 12:05:42 PM

Same thing happened with Bittrex and other exchanges where they suddenly decided that they want to ask people to verify their identity and of course, failing to do that will get your funds lost.

Bittrex and other exchanges are companies that needs to comply the regulations on their countries as an operating business, failing to do so will make their business stop/close.

I hope you understand that.

Quote from: MadGamer on June 12, 2018, 12:05:42 PM

it's not their right because they didn't disclose the need of doing any verification when the ICO took place.

If you're an ICO investor and you already bought during their sale, it's not also your choice to complain if you want to get your tokens.

Sooner or later KYC will be implemented to everyone who are joining it. I'll agree on one thing about the disclosure on why they have to do that.

xIIImaL

legendary

Activity: 1372

Merit: 1005

Quote from: MadGamer on June 12, 2018, 12:05:42 PM

I'm just here to give everyone an advice. Think twice before you invest in an ICO or use an exchange from now on If you're not willing to do any kind of personal info verification.

Tezos is now asking their users who participated in the ICO to do KYC/AML, failing to do so means that you won't get your coins. It's not their right because they didn't disclose the need of doing any verification when the ICO took place.

Same thing happened with Bittrex and other exchanges where they suddenly decided that they want to ask people to verify their identity and of course, failing to do that will get your funds lost.

Trading which are all operating under the regulations of the government set of rules and taxation possed. You need to share the KYC for this reason alone with the trading site. Expect that nothing they will be do with you ID card details. If there is any scam they will get the reputation problem.
But I am not sure about ICO projects, they allot the token distribution payment without the KYC furnished still they are asking for it. Even there is a possibilities to take our value information with them.

chaser15

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Quote from: MadGamer on June 12, 2018, 12:05:42 PM

I'm just here to give everyone an advice. Think twice before you invest in an ICO or use an exchange from now on If you're not willing to do any kind of personal info verification.

Tezos is now asking their users who participated in the ICO to do KYC/AML, failing to do so means that you won't get your coins. It's not their right because they didn't disclose the need of doing any verification when the ICO took place.

Same thing happened with Bittrex and other exchanges where they suddenly decided that they want to ask people to verify their identity and of course, failing to do that will get your funds lost.

Bittrex and other popular centralized exchanges just follows the strict regulations of governemnt that's why they implemented the KYC system on much stricter way. In the past, there is already a KYC but people have an option to stay on Basic Account. But with the strict regulations impose by the government, most exchanges today now force to follow the protocols.

Im fine with verifications but they need to put that as a reminder before making a deposits so that people will not have a problem about it.

jrrsparkles

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Quote from: MadGamer on June 12, 2018, 12:05:42 PM

I'm just here to give everyone an advice. Think twice before you invest in an ICO or use an exchange from now on If you're not willing to do any kind of personal info verification.

Tezos is now asking their users who participated in the ICO to do KYC/AML, failing to do so means that you won't get your coins. It's not their right because they didn't disclose the need of doing any verification when the ICO took place.

Same thing happened with Bittrex and other exchanges where they suddenly decided that they want to ask people to verify their identity and of course, failing to do that will get your funds lost.

For exchange issue we never have to keep any of our funds in the exchange's wallet will be the solution and if you are a regular trader means you have to qaccept their terms to get out your funds for that you need to do all the things legally have no issues in showing our identity.

But ICO is serious problem here if they are changing the rules at the end time is not fair but if you want your money you need to agree their terms as well.

MadGamer

legendary

Activity: 1568

Merit: 1031

I'm just here to give everyone an advice. Think twice before you invest in an ICO or use an exchange from now on If you're not willing to do any kind of personal info verification.

Tezos is now asking their users who participated in the ICO to do KYC/AML, failing to do so means that you won't get your coins. It's not their right because they didn't disclose the need of doing any verification when the ICO took place.

Same thing happened with Bittrex and other exchanges where they suddenly decided that they want to ask people to verify their identity and of course, failing to do that will get your funds lost.

Topic: Exchanges and ICOs (Read 205 times)