Topic: KYC in crypto, does it really require? (Read 5434 times)
I believe that the KYC procedure should be carried out primarily by the organizers of the ICO. very often we do not know who is really behind the profile on social networks. I try not to go through KYC and if I like the token and technology, then I can buy after entering the stock exchange and without KYC.
Nobody wants a problems with financial regulators. So projects just protect themselves by compliance
Stellar launched airdrop and there is a very strict process of KYC.
You should download your documents, make selfie and verify your phone number
You should download your documents, make selfie and verify your phone number
After reading many posts on the forum related to KYC, I am fully decided to abandon such projects. My data is very important to me and I do not like that one day they will be sold to someone. Yes, this is a good protection against fraud on the forum, but now it is easy to find on the Internet documents for the KYC procedure, I know several channels in the telegram, where such documents are sold for 10, so I do not see any sense in this.
It's true that almost all ICO are requiring KYC these days and I think one of the reason is because regulations, most these ICO are operating in countries that prevent AML, Some require KYC to prove that they got their money legit and not a way of money laundry
We have been working with projects that require KYC for investment for quite a long time and none of them has deceived us yet. We can say that this is a kind of quality icon.
I'm only for KYC when investing in a particular project. The question is under what circumstances it is necessary to pass and from what amounts.
Cryptocurrency space been a place that promotes anonymity, KYC is really not necessary in my opinion because, the main use of KYC is to prevent scars and stay on the right side of privacy laws.
In cases where KYC is extremely important, I think an innovative and extremely secure blockchain platform should be used to fulfill KYC procedures to prevent information leakages.
In cases where KYC is extremely important, I think an innovative and extremely secure blockchain platform should be used to fulfill KYC procedures to prevent information leakages.
let's be honest to ourselves - yes, this really requires a procedure in order to avoid fraudsters. but this does not mean that developers can use our data as they want and where they want
Certainly. In order to turn this space into a little bit regulated, it is necessary to introduce some kind of identification.
I also don't like projects that need KYC but sometimes we can't avoid it especially if we are involve on it like we invest or we join their bounty campaign because we don't have a choice is to give what they want in order also to get what we want.
Of course it is reasonable that all good ICOs require KYC - it limits how many tokens can buy one unique person and that guarantees fair distribution.
I believe that this procedure is overvalued, in fact, a self-respecting project that aims to succeed in the first place always take care of a professional bounty manager who, at the reporting stage, will find all multi-accounts and dishonest bounty hunters.
I agree with you. KYC cannot fully restrict all multi-accounts. Documents for the passage of KYC identification can be bought without problems on the Internet. Therefore, I do not understand the role of KYC in cryptocurrencies.
Well on my say the kyc was set up for a certain purpose, and understand that partaking in an ico bounty or airdop campaign that proposed kyc is not by force, the only reason I get angered about kyc in bounty campaign is when the manager never mentioned kyc in beginning of campaign.
So if you not comfortable about any project asking for kyc then just ignore and move to next project, or wait till they get listed and buy from exchange.
So if you not comfortable about any project asking for kyc then just ignore and move to next project, or wait till they get listed and buy from exchange.
KYC is used in the crypto market i think is reasonable. But it depends on the Airdrop case is not necessary because too nonsense. The remaining cases are very good. Help the developer of the Altcoins verify the identity of people involved in the crypto market.
I think that yes, because the organizers need to report back for their project, to show that real people support it, and not fraudsters.
I understand that many people hate kwc because they are afraid to disclose personal data, but at the same time kyc helps us to protect from scam. This is especially true of participation in ico.
I also do not mind passing the KYC. If the project is worthwhile, then verification is not a pity. But some even after passing KYC continue to not pay a reward. So....
I understand that many people hate kwc because they are afraid to disclose personal data, but at the same time kyc helps us to protect from scam. This is especially true of participation in ico.
The basic reason for kyc in most project is to prevent scam most people do not get their reward or token because their identity was snatched or stolen so i do support the idea of kyc to ensure the rightful owners earn their rewards
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