KYC is often debated if indeed this kyc is needed for positive things it's better. KYC is personal and sensitive but if it is true
properly used I think there is also no problem. For investors usually, kyc is required, so that is the owner's identity as well and certainly will provide benefits that do not disappoint later.
Topic: KYC in crypto, does it really require? - page 29. (Read 5434 times)
I think kyc certification is absolutely necessary
I do not really understand the thinking of people who do not like the anti-money laundering process even though the process is very important, whether it is possible for those who disagree are money washers.
KYC is the observation of know your customers it's compulsory for big projects and mostly for the investors very rare for the hunters and it's for the check and balance for the investors money that would be legally sources down you can say KYC for worth money projects.
Know your customer (KYC) is quite an important check needed in cryptocurrency. there are many scammers out there and projects needs to verify the identities of their investors and sometimes bounty hunters.
KYC really matters in cryptocurrency especially during ICO token sales. This is used to confirm the identity of investors, incase of any necessary information and avoid cheating.
i think for super-solid projects, and if the amounts involved are worth it, it might be reasonable to submit kyc, a lot of icos have to comply with the rules and regulations of the jurisdictions they are operating in too. if it's just a few bucks for airdrops or bounties, then no point...
ICO-s are not realy decentralized projects, as Bitcoin was, when Satoshi created. Companies run them, and they have obligations
For companies you to know your customer (kyc)
And for investors you need to know this because some people paying with illigal money.
Thats why you need kyc
And for investors you need to know this because some people paying with illigal money.
Thats why you need kyc
I guess that some cryptocurrencies are just nicely decentralized, while other projects are not so much. Some regulation is needed though to get real mainstream.
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 always wonder why do we need to give our vital info to ICOs that most are not even likely to come on in crypto space and crypto is all about decentralization but submitting our info has made it look centralized to me.
There is no regulation in crypto yet so why should we give our details to unknow ico organizers, so claim to prevent some region in participating in the ico because of the country law but those ICOs comes from the same region and country that prevent their own citizen from participating, should we say they are using style to rob us or our details is being used for other purpose .
I think it's high time we all need to stop giving our details to ICOs if really the crypto is all about decentralized and their is no regulation in the world yet to really require such details, I will like to know everyone minds about the submission of our details in term of KYC .
I always wonder why do we need to give our vital info to ICOs that most are not even likely to come on in crypto space and crypto is all about decentralization but submitting our info has made it look centralized to me.
There is no regulation in crypto yet so why should we give our details to unknow ico organizers, so claim to prevent some region in participating in the ico because of the country law but those ICOs comes from the same region and country that prevent their own citizen from participating, should we say they are using style to rob us or our details is being used for other purpose .
I think it's high time we all need to stop giving our details to ICOs if really the crypto is all about decentralized and their is no regulation in the world yet to really require such details, I will like to know everyone minds about the submission of our details in term of KYC .
I am also being confused about this thing. Recently, almost Airdrop and Bounty campaigns require participants do KYC to receive their tokens. Maybe they want to reduce cheaters but it may be make me to lost important information if they are scam project
Actually, KYC is never required before making an investment in the ICO. But now, it has been filtered out by the goverment in the other country, forcing the project team to conduct KYC verification before making an investment, because of the law compliance.
That's the only option and if they break that requirement they will be closed down by the authorities but sadly the ones who force that kind of law never have any intention to give facility to every people so that everyone could be sure their identity is kept safely and not sold into the darknet, this actually a serious problem that deemed unnecessary by authority.
Actually, KYC is never required before making an investment in the ICO. But now, it has been filtered out by the goverment in the other country, forcing the project team to conduct KYC verification before making an investment, because of the law compliance.
Crypto does not need KYC since it was created first being anonymous. It creates trust on any transaction for both parties. But when the times that many use crypto to scam people we should know now who we are going to transact with. And for an ICO, KYC was done because other country didn't permit their people to join ICO.
It is not for all of the ICOs that require KYC. There are a lot of ICOs out there that you can buy into without using KYC. That being said you might want to steer clear of ICOs that require kyc for you to invest in their projects. Reasons being that there are a lot of things that can be done with your sensitive information that you give to these people they can sell it on the dark web and you will have your identity stolen.
I think this is not what he want to know. He asked is the kyc really need in cryptocurrency or not? I think kyc is not really need in cryptocurrency since the main thing in cryptocurrency is privacy. So thats why there are privacy coin now. But the objective of kyc is to prevent the money laundring so this mean for special investor who invest too much, they are the only one who need kyc.
I believe that KYC is not required for cryptocurrency at all. otherwise, her anonymity will be lost.
I think KYC is a good sign that shows credibility of the ICO they belong, they could be just trying to verify you are not stealing someone else's identity.
For example, this KYC procedure is very stressful for me. And today, more and more projects require the passage of this procedure. Is it really impossible to do without it?
KYC In cryptocurrency is a technique applicable by bounty managers to ensure that they have a proper knowledge of the customers they are transacting with. The KYC requires the customer to fill a demographic data along side a selfie picture.
The KYC Can be tagged to be a proof of authentication (POA), by extension; it aids in authenticating the identity of the customer to the bounty manager so he could be able to ascertain those actually contracting him or her. Therefore, it is a salient requirement, mostly in cases when a particular bounty has its own private wallet apart from the ERC20 wallet address.
The KYC Can be tagged to be a proof of authentication (POA), by extension; it aids in authenticating the identity of the customer to the bounty manager so he could be able to ascertain those actually contracting him or her. Therefore, it is a salient requirement, mostly in cases when a particular bounty has its own private wallet apart from the ERC20 wallet address.
If you participate in cryptocurrencies as a money service business you must know, and comply with KYC. For example, if you are thinking about starting a Bitcoin exchange, a Bitcoin ATM, or even an ICO, (Initial Coin Offering) you must comply with KYC requirements.
So how do you “know your customer”? As Supreme Court Justice Potter Stewart stated when attempting to define pornography, “I know it when I see it.”
The Financial Crimes Enforcement Network, (FinCEN) does not set forth exact requirement that comply with KYC, however, there are items of information that you should gather from your customers
So how do you “know your customer”? As Supreme Court Justice Potter Stewart stated when attempting to define pornography, “I know it when I see it.”
The Financial Crimes Enforcement Network, (FinCEN) does not set forth exact requirement that comply with KYC, however, there are items of information that you should gather from your customers
Jump to: