KYC for ICO, is it good or bad idea? - page 9.

btcrut2017

member

Activity: 406

Merit: 11

Quote from: krassy on October 11, 2018, 05:30:51 AM

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

I don't support KYC becs. It can mean giving your personnal information to others. But if this is really needed then i will provide the information as long as i xan earn my hard work.

taguig

copper member

Activity: 479

Merit: 11

When we are online we should take care and always on watch about our privacy, so it's a big no no for me when it comes to KYC my privacy and my personal information is more important to me than what I'm going to earn from these bounties and from investing from these ICO and besides I can always buy those coin when it hit the market..

pinoy.bolanon

member

Activity: 350

Merit: 10

"In CryptoEnergy we trust"

Kyc is merely a method in order to determined true identity of investors and participants., I don't see any negative impact in implementing kyc. Nowadays alot of fake accounts are proliferating in the market. So I think it's a good move.

MarchToke

member

Activity: 350

Merit: 10

I don't actually participate in bounty that needs ICO. I am much concern about my private data than that of money (but i don't think an ICO with KYC is not a scam) that i can get from a KYCed ICO. I better be safe than sorry.

ndico

member

Activity: 280

Merit: 10

better Days Ahead...

KYC for ICO is not really a good idea for me but at the moment regulations is making a lot of them to do KYC and I think for ICO to survive they need to comply with the regulations to make it safe for more countries to adopt crypto currency.

kevinzxz

full member

Activity: 1470

Merit: 105

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in my opinion if for security then KYC is a good idea but for now I have not agreed to ICO using KYC, because ICO is not legal for now so then I think KYC is not very useful for now if we want to invest in ICO.

adekogbe

member

Activity: 854

Merit: 21

Investors requirements to pass a KYC before they are eligible to receive ICO tokens is a good idea but the execution is flawed because there is no valid publicly accessible database to make cross reference with how legit the information provided in the ID cards or passports.
Also ID cards are very easy to forge in some countries so it defeats the purpose.

Astermony

full member

Activity: 373

Merit: 100

Quote from: krassy on October 11, 2018, 05:30:51 AM

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

If it is mandated with what you believe a good ICO then we have no choice but to follow, though it will contradict to the decentralized platform technology but as I've said it is a must.

Kay94

member

Activity: 364

Merit: 10

For now I don really trust ICO's that collects sensitive data like the KYC. Now what some of them do is to sell your data to people for them to use it somewhere. I think KYC is a bad idea now.

Question123

sr. member

Activity: 1624

Merit: 267

Maybe yes maybe no. But for me better to do not give your personal information here in cryptocurrency because they have possibility that they use it to other. ICO no need to to use KYC because you invest your money and they don't need your information because what ever to happen you will be benefits or sacrifice.

bitkanu

hero member

Activity: 2184

Merit: 513

Moonbet.io | Web3 Casino

Quote from: jozymens7 on October 20, 2018, 06:42:26 PM

I think so many people are using this Know Your Customer thing to get people's information for their own good. To me, before I will do a KYC in your ICO then I know the project Im dealing with.

It is required by the authority, not that the ICO developer is trying to gather all your important data but it exist to prevent money laundering.
Maybe a scam ICO will do such thing but good and real ICO will never do that, however it's not wrong to be so paranoid about this KYC though.

nityans

member

Activity: 183

Merit: 10

This is a good decision, the idea of mutual verification will serve as a guarantor of serious intentions on the part of projects and such transparent conditions will inspire confidence among investors, which in turn can have a beneficial effect on the development of the project as a whole.

airdrophunter

full member

Activity: 434

Merit: 100

The Exchange for EOS Community

KYC alone is already a bad idea, IMO. Sending your sensitive information to them which might be used against you as your ID contains vital information that would help them hack your account. Rumors has it too that the information you send to them will be sold in the darkweb and they will earn money from your data.

greennesslatern

newbie

Activity: 50

Merit: 0

i think it is ok, even through the ICOs can be moved huge amounts of money and knowing there are not moved for illicit purposes is very important

DOH!

full member

Activity: 784

Merit: 108

KYC is a form that should be implemented in the ICO investment because it helps limit the manipulation of large investor coin. But choose the project carefully before deciding to implement KYC because your information can be stolen if it is a bad project.

Ravenangel

member

Activity: 448

Merit: 10

I think it's a good idea, because in this market there are too many scams, in the end, what we need are investors, not scammers, so it's good that we put different measures to make the market more stable and attractive, because so much instability can be counterproductive if we want to bring new people into this.

jozymens7

member

Activity: 392

Merit: 10

CurioInvest [IEO Live]

I think so many people are using this Know Your Customer thing to get people's information for their own good. To me, before I will do a KYC in your ICO then I know the project Im dealing with.

42K

member

Activity: 364

Merit: 10

Erotic Industry on the Blockchain! RachelX

KYC also known as Know Your Customer is one of the best ways ICOs tries to fish out people trying to get more accounts. I think its good to do KYC during ICO.

coino.org

full member

Activity: 798

Merit: 101

I don't like KYC for ICO. It is definitely not for me. I don't like it at all! By the way I have several documents, because i don't like to share my personal data and there is no problems in submitting fake KYC

Haterstestbtc

jr. member

Activity: 329

Merit: 3

I like your idea of improving the legitmacy and confidence of the ICO project to boost the interest of supporters. But all this process are none sense if the said campaign is not merely capable in the investors choice like what happen this year a lot project is good but an unable to reach the hardcap because of lack funds to support.

Topic: KYC for ICO, is it good or bad idea? - page 9. (Read 2017 times)