Topic: KYC in crypto, does it really require? - page 35. (Read 5463 times)
KYC is not really necessary in crypto. It is something that can be done away with if everyone will support its removal. But if the trend of KYC has to continue, then something needs to be done to protect people's personal information.
KYC is important to verify whether the user is not a citizen of a banned country of a specific project. Also, it is used to know whether the user have bad records from the past. It may reduce the risk for the side of the developer but it is risky for the user. Data breach is a problem that is still hard to prevent and solve.
KYC is used to verify the authenticity of the user. But I am only worried if there is a misuse of data used by irresponsible parties. Which can hurt many people.
Actually is really good way for legit projects to know about the people they are dealing with, on the other hand, scammers could also take advantage of this by stealing information, so it all depends on the background of the project and their team.
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 .
So far, only a few ICOs are fully regulated. But that will change in the future. That's why the KYC / AML process is very important. In addition, decentralization and regulation are not mutually exclusive. 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 .
KYC and AML are one way to prevent money laundering and actually there's plenty of regulations aswell that is more important than KYC or AML
I really know how KYC's in crypto has really helped people in the crypto world. If you want to succeed, I think you can add KYC to your project and it will be successful.
KYC is certainly power. But only on the condition that it is unlimited. In the modern world, namely in the mass Internet infrastructure, we can not talk about unlimited decentralization, therefore, our KYC in the sandbox is some experiment. But I hope that it will be possible to implement a truly uncontrolled Internet, within which pure decentralization can develop along all the canons of cryptoanarchy. Then KYC will not be necessary for us. In the meantime, let it be.
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 .
So far, only a few ICOs are fully regulated. But that will change in the future. That's why the KYC / AML process is very important. In addition, decentralization and regulation are not mutually exclusive. 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 .
Though it seems a very confusing matter. In fact, I’m also not in support to provide my info where I've got a doubt. And our doubt raises more when we see that these ICO organizations won’t allow people from their own region.
It is not really necessary but I see it that most project developer are using it to scruitinize the participant in other to make sure no one uses fake and double registration. Buy doing so, it will create more chance for multiple people to join rather than only one person doing work of ten people.
Lately, many dishonest participants have appeared as bounty campaigns and ISO. As one of variants of struggle against them it is KYC identification.
Some ICO requires KYC and some KYC doesn’t require it. The main purpose of KYC in a project is to know clients basic identity, determination of customers risk in various sectors and monitoring their transactions.
I would suggest you to learn more about any project of ICO before you have decided to jump in. Do analysis everything that is needed. Many Kyc are there who aims to steal information about participants. Do avoid frauds.
If the coin has an active social media feed and they are okay with the community then it would lessen the hate for KYC verification. I don't want to do a KYC.
For something as simple as an airdrop is not worth it, for some bounties, it is necessary because it is part of their policy and also helps them to profile their investors, of course, everyone is responsible for their privacy, so we have to see if it is worth sacrificing it for a few coins.
I'm certainly all hands against kyc , each person can choose to be anonymous or to reveal themselves , but recently the cryptocurrency more goes into decentralizatio , and it's sad!
"Basically KYC is used to control money laundering and other fraud related users to
be investors.I think having kyc for ico is extra benefit for me because it can help to
avoid scam."
It happens that a lot of fakes investors came out pretending and claiming others identy and tried to changed their wallet into new address. To stop this fraud actions, KYC is being impose so only the legit one will received and no other person could take the chance to get it. be investors.I think having kyc for ico is extra benefit for me because it can help to
avoid scam."
"at this time KYC are required in ICOs but most of the time the KYC projects want your
personal data. I think they can misuse it."
personal data. I think they can misuse it."
"Basically KYC is used to control money laundering and other fraud related users to
be investors.I think having kyc for ico is extra benefit for me because it can help to
avoid scam."
be investors.I think having kyc for ico is extra benefit for me because it can help to
avoid scam."
I would suggest you to learn more about any project of ICO before you have decided to jump in. Do analysis everything that is needed. Many Kyc are there who aims to steal information about participants. Do avoid frauds.
I also think that bounty hunters do not need to pass KYC procedure. We do not invest money and we do not need to report.
KYC for bounty hunters is a way to not pay part of the participants their legal reward. Unfortunately there are companies that require the passage of the KYC at the end of the bounty compaign. They leave a miserable impression of themselves. Such projects will not have a future.
KYC for bounty hunters is a way to not pay part of the participants their legal reward. Unfortunately there are companies that require the passage of the KYC at the end of the bounty compaign. They leave a miserable impression of themselves. Such projects will not have a future.
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