Topic: KYC in crypto, does it really require? - page 28. (Read 5434 times)
Just projects want to be legal. They try not to break the law now and in the future. If you do not want to pass the KYC, just do not participate in the ICO.
You do not need to provide your personal information only to receive bounty or participate in an airdrop. First of all you need to know what the KYC document contains.
. There are many ICOs out there that you can buy without using KYC. That being said you might want to avoid ICOs who need kyc for you to invest in their projects. The reason is that there are many things that can be done with your sensitive information that you give to these people they can sell on the dark web and your identity will be stolen. Don't waste your identity just for a few buckets. They can use your identity to commit fraud, trust me.
. There are many ICOs out there that you can buy without using KYC. That being said you might want to avoid ICOs who need kyc for you to invest in their projects. The reason is that there are many things that can be done with your sensitive information that you give to these people they can sell on the dark web and your identity will be stolen. Don't waste your identity just for a few buckets. They can use your identity to commit fraud, trust me.
Due to many countries till have not accepted crypto investment, so they need to pass KYC when you invest it, if the ICO need the KYC, I will check all the information about this project, like the whitepaper, team and other, I afraid invest in the scam project and this scammer will sell their personal ID in the black market, so be careful if they need the KYC.
Do we really need to submit our personal details to ICOs for buying the token or for participating in it's bounty and airdrop?
I think investors should pass KYC, not bounty hunters, bounty hunters are not customers but employees this should be clear by the abbreviation KYC -> Know Your Customer but a lot of ICO projects do not understand this
As a rule, projects announce the passage of KYC, after the ICO, so to take your reward it is necessary to pass it!
When it's registered on the market after the ICO, it's the coin and you hold cryptocurrency after that and in countries where are cryptocurrencies banned, you hold it illegaly. And for the taxes which you have to pay from the profits it's easier too to find you by the KYC when you buy tokens.
i believe it is not required, because initially crypto was decentralized and KYC makes it centralized.
As for me, I avoid KYC process and usually buy fake documents to pass it, this is my vision on KYC
As for me, I avoid KYC process and usually buy fake documents to pass it, this is my vision on KYC
Just for my own understanding Kyc is for my own security. The devs use it for them to allocate their tokens to the real owner of the tokens. I dont see any disadvantages of kyc .
So far from all the coins, I've invested in I have not done a single KYC also from the bounty campaign I've participated in, and I'm not looking forward to participating I just hope the current campaigns I'm in will not require me to go through a KYC, at the last minute.
actually I am also still confused as to why there must be a KYC in an ico, while we put our personal data into the ico, and we will not use it for what year, the risk is if the data is misused, and if it is not misused for what actually the KYC is used, if it includes the name of our country in the ico and it turns out that in our country cryptocurrenvy is prohibited, then we can not use the tokens from that ico?
actually do not have to use KYC. Because the function of KYC here indeed only to a safer course. If you don't use KYC I think is also not a problem. The most important project is running and can be successful. And it's not because of the KYC.
To me, It is not a wrong thing for a company to know their customers, KYC is good if the company will use them inline with the law. However, before you join any ICO that requires KYC, you need to read their privacy policy.
Sometimes i dont understand why projects use KYC, I am easyly can use other people documents to pass it.
KYC good for banks where you come to the office and register your documents
KYC good for banks where you come to the office and register your documents
My response is NO! KYC is not supposed to be required in cryptocurrency. I wonder how some people introduced it for others to follow.
One of the reasons why some campaign do KYC is because of cheating and countries that does not up help crypto ideology. I am of the opinion that KYC materials should be made strictly confidential.
KYC is indeed very necessary but it is used only for the investors. And now I have also come across the ICO to use KYC for the taking of gifts. And things like this need to be careful because we don't know the project is good or not. If the project is good you can do the KYC.
Having KYC in airdrop or bounty is i think most probably a secured way for some projects to prevent some fraud, get to know and authenticate their customers. Not all, actually requires KYC. In my opinion, it is much better to have the “know your customer” policy because it is also a form of protection from both the interest of the project organizers and the clients.
KYC required to stop scammers, but actually in my view, this will be make limitation to investor who want to invest in ICO project, I think in ICO project need new resolution to stop scammer without KYC.
I think kyc certification is absolutely necessary
Actually, I don't think there's anything wrong with doing KYC if it's a good project to follow. And in some cases, KYC is needed to prevent cheating from participants. KYC in an ico sometimes lead to pros and cons. We as participants can only choose. if you can't do KYC on a project that requires it, then you can't join. You cannot change the rules because the control is held by the project holder.
For some reason, it is very required to use KYC in Airdrop or maybe Bounty campaign.
The best reason is to avoid many scammers and multiple accounts. And I think KYC is not really necessary for a small investor.
The best reason is to avoid many scammers and multiple accounts. And I think KYC is not really necessary for a small investor.
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