KYC, during or post ICO? | Bitcointalksearch.org

antsam

full member

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Merit: 109

Quote from: parlament9 on August 07, 2018, 10:31:14 AM

If I trust in the project - I will pass KYC. If I don't trust in the project - I will never pass)
And in general - I am a law-abiding citizen of the country except that I have a bitcoin) Therefore if someone learns who I am such - I won't strongly be upset.
Though, I heard stories when just according to the photo of the passport of the person took the credit - here already you begin to think

I strongly agree with your statement, the key is trust. If we believe why not, but if we fear our personal data is misused, don't do it

MsBella_120799

newbie

Activity: 14

Merit: 0

KYC is a good protocol to be practiced by ICO's management so that they can secure their projects from the people who are their in their restricted zones and from the bots...KYC or Know Your Customer is one of the good way to identify if some ICO are legit...

Seunbabatunde

newbie

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KYC is the way to fix out the scammers during the ICO and also to detected those that are using multiple account during ICO.

kagtaviy_mo

member

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Merit: 22

Hello, I think that this is not a particularly pleasant procedure. For me it does not really matter when this procedure should be done. Before or after the ICO.

Mahanton

hero member

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Merit: 632

Quote from: Adedbum on September 07, 2018, 12:52:56 PM

Kyc allow the manager knows there customers very well and there source of their income in order not to make money laundry.

Not the project owner itself but most of them do only comply into the laws on where those projects do operate on.When they do ask KYC then most of the time their government is telling them to do so.

Quote from: benhill on September 07, 2018, 01:59:56 PM

There is nothing bad in KYC but project developer that intend to scam the participants ie investors and bounty hunters will not introduced the KYC at the begining of the project but after money collection from the investors or about to pay the rewards of bounty hunters they will now introduce KYC just to denied the participants of their rewards. I support the KYC because it prevent money laundering.

When it comes to protection then KYC is an advantage but we all know that not all projects would really be legitimate for you on carelessly sending out your informations.

benhill

newbie

Activity: 304

Merit: 0

There is nothing bad in KYC but project developer that intend to scam the participants ie investors and bounty hunters will not introduced the KYC at the begining of the project but after money collection from the investors or about to pay the rewards of bounty hunters they will now introduce KYC just to denied the participants of their rewards. I support the KYC because it prevent money laundering.

Adedbum

newbie

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Kyc allow the manager knows there customers very well and there source of their income in order not to make money laundry.

okocrypto

newbie

Activity: 112

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To me I feel is unprofessional for ICOs to conduct KYC after ICO. This does not always go well. If it is before investing, then people will know if they are eligible to contribute or not to avoid too many rigorous processes of fund recovery.

mr.nby

member

Activity: 307

Merit: 10

Quote from: Cliarbikr on August 28, 2018, 06:46:28 AM

I'm generally against KYC. I do not want to send my documents to unverified personalities. I'm not sure that they can keep them safe

Yes, otherwise, the data may be sold to unknown persons for use in crime. After sending the documents in order to pass KYC procedure, there is practically no way to find out what is happening to them and how they are stored.

smartsan

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Merit: 10

Spokkz ICO

Quote from: Samer-COO-Triphop on August 07, 2018, 07:43:54 AM

What is the pros and cons of doing the KYC during the ICO or post the ICO?

I've participated in many ICOs, some of the force you to do the KYC before you can buy their tokens, others they wait and later send you a KYC email/request. so i am wondering what are the pros and cons of each approach

Yes, KYC are becoming one of the necessary things in the ico project during the buy of the token from token sale.

entrepmind23

sr. member

Activity: 644

Merit: 261

Quote from: yecats on August 28, 2018, 08:09:15 AM

At the very beginning they should announce it

so that we can decide if we want to continue joining the project because many do not agree with the kyc policy. As of now I don't really trust kyc giving some personal info.

Yes, I have the same opinion as yours when it comes to KYC. I have seen a post in here wherein they are selling the information in dark web for quite a fortune that's why many scam ICOs are asking as well from their bounty participants and investors to submit KYC because it would be an additional money for them too if in case they would use it for their own good. There are legit ICOs out there but I would rather wait for it to be listed in an exchange wherein I don't need to submit a KYC.

Quote from: alrose on August 28, 2018, 03:43:14 AM

I think it's better to go straight to KYC. So then you do not get unpleasant situations when you either missed the time for verification or can not pass it at all and because of this you can not get your tokens.

They should require the investors and the bounty participants at the beginning of their ICO than announcing it at the end because it would give them less credibility if they would suddenly ask for KYC when many people doesn't want to give their personal information. They should include it in their announcement if ever.

JMD07

member

Activity: 378

Merit: 10

Quote from: Samer-COO-Triphop on August 07, 2018, 07:43:54 AM

What is the pros and cons of doing the KYC during the ICO or post the ICO?

I've participated in many ICOs, some of the force you to do the KYC before you can buy their tokens, others they wait and later send you a KYC email/request. so i am wondering what are the pros and cons of each approach

The team are just following regulations given from the government from where they ICO located. It's a mandatory to know who they are dealing to and identify where the money came from. If you don't want to undergo KYC then find those ICO that does nor require KYC to participate on their ICO. It's so risky to give your personal data to them and you don't know if they will use your data to other proposes. What if?

yecats

member

Activity: 395

Merit: 14

At the very beginning they should announce it

so that we can decide if we want to continue joining the project because many do not agree with the kyc policy. As of now I don't really trust kyc giving some personal info.

Cliarbikr

jr. member

Activity: 84

Merit: 1

I'm generally against KYC. I do not want to send my documents to unverified personalities. I'm not sure that they can keep them safe

alrose

full member

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I think it's better to go straight to KYC. So then you do not get unpleasant situations when you either missed the time for verification or can not pass it at all and because of this you can not get your tokens.

Ondisbelle

newbie

Activity: 94

Merit: 0

indeed it is very risky to provide KYC containing our personal data. bus so our data is used as a cover and a tool to take criminal action. but it all depends on how you trust the ICO you are joining, how legitimate the ICO is. if you really believe that the ICO is legit, then it's safe to hand over the KYC

faza13

member

Activity: 518

Merit: 16

Quote from: Samer-COO-Triphop on August 07, 2018, 07:43:54 AM

What is the pros and cons of doing the KYC during the ICO or post the ICO?

I've participated in many ICOs, some of the force you to do the KYC before you can buy their tokens, others they wait and later send you a KYC email/request. so i am wondering what are the pros and cons of each approach

if I think it's a bit risky for KYC with an identity card, this is because our personal data could be used to commit a crime or other misuse

nwaafor

newbie

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Merit: 0

Quote from: Bachelorrd on August 08, 2018, 10:50:02 PM

For me I don't see any Pros in giving KYC informations, while there's a lot of Cons in giving that sensitive information. The thing is those information can be used in illegal activities, keeping that sensitive information is hard and scamming can easily be done using your own information with them. There's a new innovative way on dealing KYC right now, I know some platform that will handle KYC applications to any ICO you'll join in an encrypted form. One of them is menlo.one and civic.

Nice suggestion.It makes sense to use such services/platforms.

imsotiredofmoviereboots

full member

Activity: 476

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Quote from: Samer-COO-Triphop on August 07, 2018, 07:43:54 AM

What is the pros and cons of doing the KYC during the ICO or post the ICO?

I've participated in many ICOs, some of the force you to do the KYC before you can buy their tokens, others they wait and later send you a KYC email/request. so i am wondering what are the pros and cons of each approach

The project is much more credible id the ICO project implemented the KYC right from the start. It just looks shady if they did it after because if their reasons is that they need to comply the rules then it just proves that they are bunch of inexperienced team that tells that the project they are running is destined to fail.

asyakashi

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Quote from: jason6413 on August 19, 2018, 01:32:52 PM

KYC is very important in ico if you understand the project accept the ico otherwise reject it

yes ... it might have been easy, and not now.
all participants must now make a report then after the token is distributed the token takes a long time to be registered in the market.
I think it's not easy to bounty hunters.

Topic: KYC, during or post ICO? (Read 577 times)